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Triyards Holdings - OCBC Investment 2016-07-12: Ezra's share charge arrangements with banks

Triyards Holdings - OCBC Investment 2016-07-12: Ezra's share charge arrangements with banks TRIYARDS HOLDINGS LIMITED RC5.SI 

Triyards Holdings: Ezra’s share charge arrangements with banks 

  • Triyards Holdings announced that it has received a notification from Ezra Holdings (which owns 60.91% of Triyards) that share charge arrangements have been entered into in respect of Ezra’s shareholding interest in the company: 
    1. 98.8m shares or 30.455% interest in favour of DBS Bank, 
    2. 30.455% interest in favour of OCBC. 
  • This is likely due to debts owed by Ezra to the banks. 
  • We are positive on Triyards’s longer- term outlook, with a BUY rating and S$0.51 fair value estimate, but also recognise that in the event of any forced sale of shares held by Ezra Holdings, there could be a downward pressure on share prices.





Low Pei Han CFA OCBC Securities | http://www.ocbcresearch.com/ 2016-07-12
OCBC Securities SGX Stock Analyst Report BUY Maintain BUY 0.51 Same 0.51


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