go_francis wrote:
Announcement @ SGX 19/10/07 @18:44

Quote:


OCULUS LIMITED
(Company Registration No. 198304025N)
PROPOSED RENOUNCEABLE AND UNDERWRITTEN RIGHTS CUM WARRANTS ISSUE
Reference is made to the announcement made on 11 July 2007 (11 July announcement) in relation
to the proposed renounceable and underwritten rights cum warrants issue (Proposed Rights cum
Warrants Issue).
On 22 August 2007 the Board announced (Proposed Bond Issue Announcement) that the
Company had entered into a bond subscription agreement with D.B. Zwirn Mauritius Trading No. 3
Limited (Subscriber) under which the Company had proposed to issue up to S$100 million in
aggregate principal amount of redeemable zero coupon convertible bonds to the Subscriber
(Bonds). It was further announced that the proceeds from the Bond Issue will be used by the
Company for the acquisition of new businesses in renewable energy and oil services.
On 16 October 2007 the Board announced (Proposed Acquisition Announcement) that the
Company had entered into the HOA with the Key Vendors in relation to a proposed acquisition by the
Company, subject to the satisfaction of certain conditions, of the entire issued and paid-up share
capital of Aretae which will result in a reverse take-over of Aretae. As announced in the Proposed
Acquisition Announcement, Aretae is an environmental solutions company that focuses on climate
changes initiatives that can help combat global warming.
In the 11 July announcement the Board had announced that the proceeds from the Proposed Rights
cum Warrants Issue will, inter alia, fund the growth and expansion of business and working capital
requirements.
Upon satisfaction of the conditions set out in the Proposed Bond Issue Announcement, the Bonds
will raise up to S$100 million (in 50 equal successive tranches of S$2 million each) for the Company.
Given the above, the Board does not intend to proceed with the Proposed Rights cum Warrants
Issue.
Further announcements will be made in due course as and when appropriate.
Unless otherwise defined, all capitalized terms used herein shall bear the same meaning as defined
in the 11 July announcement, the Proposed Bond Issue Announcement and the Proposed
Acquisition Announcement accordingly.
By Order of the Board
Low Shiong Jin
Executive Director
19 October 2007






This is a very positive news..no investors want to come up with $$$..nobody when co announce rights issue..its share price drops.It also speaks well of the financial strength of Oculus and that it can fund its purchase of Areate Ltd with internal funds.besides the American fund manager is prepared to loan 100mil convertible loan to Oculus(in the process of signing & getting sh holders'approval) with zero interest..again it suppoorts the belief that Oculus' price will increase over time and Oculus need not pay interest as the fund mgr will find it > beneficial to convert its loan to Oculus' shares...all is well for Oculus

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