TriTech spin-off listing on Catalist

UPDATE ON PROPOSED SPIN-OFF AND LISTING OF THE GROUP’S LIMESTONE BUSINESS -- 6 March 2014.

infopub.sgx.com/FileOpen/Ann_TGL_Update_...cement&FileID=277943


-- I read between the lines and believe that there is an unexpected delay in the IPO process. The delay may be caused by a delay in the completion of the resource analysis report by some 3rd party. I don't think this is alarming. What do you think?

TriTech's warrants have done exceptionally well. They were issued free of charge to shareholders . 1 free warrant for every 2 shares.

Exercise price is 20 cents + 9.9 cents (warrant) = 29.9 cents. A 13% premium (justified) to the mother share (now 26.5 cents)

The Board of Directors of Tritech Group Limited (the “Company” and together with its subsidiaries, the
“Group”) refers to the substantial increase in the trading volume of the Company’s shares today and wishes
to announce that the Company is currently exploring potential acquisitions, investments and/or fund raising
options available to the Group in relation to its water business.

TriTech has many stock catalysts -- water biz, listing of subsidiary on Catalist, big orderbook for core instrumentation biz with LTA / MRT projects, etc. Only 21 cents now.

EGM for shareholder approval for spinoff of marble biz.

After this is secured, the IPO should catalyse the stock price upward.

infopub.sgx.com/FileOpen/Tritech_noticeo...cement&FileID=298758

Betting on the IPO of the marble business. I reason that there is significant upside because the marble business, according to Voyage Research, is valued at S$234 million.
As of now, TriTech as a group has a market value of only S$174 million (assuming 23 cents a share currently). Now you can see why I am betting on the IPO. I assume Voyage was well guided by management of TriTech with regards to the potential market cap of the marble business (known as Terratech). Well, we will know in the next couple of weeks or months. Stay tuned.