Member Info for Moneymunch

Bagri's current sp is 2.35p with a market cap of £7.3m......they're going to receive £12.7m on top of cash already in the bank 31st August 2018....a no brainer if there ever was one, 3.5p just for starters and potentially much much more by the time Shandong Ruyi, China's largest and one of the World's leading textile/apparel manufacturers, unveil their plans for Bagir's development and expansion,which no doubt will include significant commercial opportunities from new business and new orders to service Shandong's global reach. !!! Gla ;-)

Shandong Ruyi is a leading Asian global textile manufacturer and under the proposed strategic partnership will invest $16.5 million to acquire c.54% of the Company's enlarged issued share capital and will subscribe for 359,560,310 new Ordinary Shares at approximately 3.5p per share as of today's exchange rate.

The Company is pleased to announce that Shandong Ruyi has committed to complete the transaction by 31 August 2018 and has also paid a further $1.65 million, which has been received by the Company on 17 July 2018, in addition to the initial payment of $1.65 million that was received on 9 January 2018.

Chief Executive Officer of Bagir, Eran Itzhak, said "Shandong Ruyi is a global leader in our sector and their decision to become our partner and majority shareholder fundamentally changes the future prospects of Bagir. We are delighted to confirm the completion date and announce Shandong Ruyi's further financial commitment to the transaction."

A few regrets from those who have given up their shares cheaply i bet....this is worth 3.5p at the very least...and maybe a massive re-rate from 3.5p if more good news arrives on Shandong's development and expansion plans for Bagir....Gla ;-)

That's looking better....it can't be too much longer before this jumps up to 3p plus again.... Gla Holders. ;-)

3.5p just for starters...Gla :-)

Chief Executive Officer of Bagir, Eran Itzhak, said "Shandong Ruyi is a global leader in our sector and their decision to become our partner and majority shareholder fundamentally changes the future prospects of Bagir. We are delighted to confirm the completion date and announce Shandong Ruyi's further financial commitment to the transaction."

Today looks likely....failing that , 3.5p looks nailed on end of August, I can't think of many other stocks with a market cap under £7m that are 99% guaranteed of a £12.7m cash payment in 4 weeks time for a 54% controlling stake by China's largest textile manufacturer and one of the world’s largest....FILL YA BOOTS!!! :-)

Presumably because it isn't a done deal until the £12.5m cash is in Bagir's bank account. Gl ;-)

Hopefully so primesymain......3.5p for starters and then potentially much much more with Shandong Ruyi at the helm as they invest, develop and increase business and significant new commercial opportunities for Bagir with their global reach.....it's going to be BIG!!! Gl ;-)

Significant Shareholders - as at 18 July 2018

Significant Shareholders table

http://www.bagir.com/html/Rule_StockInfo.html

Shares Not in Public Hands

Insofar as it is aware, as at 18 July 2018, 56.78% of the Company's AIM securities were not in public hands.

NOTE: Bagir Group Ltd. is an Israeli company. Therefore, the rights of shareholders may differ from the rights of shareholders in a UK incorporated company.

Only one late reported trade for 1m, which looks like a sell, but only one. Gla ;")

Ps email from Bagir in response to clarification on shareholder approval , EGM, before the final payment and deal completion 31/8/18. Gla:-)

Dear

Thank you for your e-mail.

The notice of AGM is according to the mandatory regulations and similarly to previous year AGM, and is not connected to the Shandong Ruyi investment.

With regard to the Shandong Ruyi investment, we announced on the progress on 18 July and shall update the market, in relation to this transaction, in due course.

Regards,

Bagir Group Ltd.

No idea, but I think one phone call is enough from me.....let them get on with it....all will be revealed. :-)

Where does it say that??? The Rns 18/7/18 confirms 359,560,310 new shares at 3.5p, a cool £12.5m plus cash in the bank by the end of August......news of the EGM for shareholder approval must arrive in the next 2 and a half weeks. Gl :-)

How many days notice to be given for EGM?

The minimum full period of notice for all meetings is 14 days, even if a special resolution is to be proposed, except for the AGM of a PLC, which is 21 days. The company's articles may require a longer period. Note that the 'clear day rule' is found in sec360.

Chinese support propelling Africa's solid progress toward industrialization

2018-07-26 17:02:54 Xinhua Gu Liping

Driving locomotives, exporting garments to other continents and setting up industrial parks ... The industrialization dream the African people have been pursuing since they attained self-rule decades ago is gradually being realized thanks to Chinese capital, technology and skills.

Chinese firms have been investing heavily in industrial parks and special economic zones that have sprung up in many African countries, which are determined to diversify their economies and reap the benefits of globalization.

It is widely-believed that China has played an important role in Africa's economic transition, wealth generation and job creation.

DEVELOPMENT AND SKILLS

Ethiopia's Mekelle and Kombolcha industrial parks, set up by Chinese companies at a cost of 100 million and 90 million U.S. dollars respectively, have come to symbolize the East African country's ambition to become a manufacturing hub.

The Hawassa industrial park, built by China Civil Engineering Construction Corporation and unveiled in July 2016, has become a model for attracting high-tech manufacturing companies in the textile and apparel sector.

Chinese companies' investment certainly fits in the overall picture of Ethiopia's industrial development. Arkebe Oqubay, board chairperson of the Ethiopian Industrial Park Corporation, told Xinhua during a recent interview that more industrial parks will be set up to ensure that manufacturing contributes about 20 percent of the country's GDP and 50 percent of exports by 2025.

This is worth 3.5p at the very least and with China's largest global textile manufacturer on board and big plans for the Ethiopian Manufacturing facility, as well as increased and new business and orders direct from Shandong Ruyi, the potential upside from 3.5p is likely to be highly significant. Gla Tick Tock Boom!!! ;-)

18/7/18

Shandong Ruyi is a leading Asian global textile manufacturer and under the proposed strategic partnership will invest $16.5 million to acquire c.54% of the Company's enlarged issued share capital and will subscribe for 359,560,310 new Ordinary Shares at approximately 3.5p per share as of today's exchange rate.

Further details are contained in Bagir's announcement of 23 November 2017.

The Company is pleased to announce that Shandong Ruyi has committed to complete the transaction by 31 August 2018 and has also paid a further $1.65 million, which has been received by the Company on 17 July 2018, in addition to the initial payment of $1.65 million that was received on 9 January 2018.

Chief Executive Officer of Bagir, Eran Itzhak, said "Shandong Ruyi is a global leader in our sector and their decision to become our partner and majority shareholder fundamentally changes the future prospects of Bagir. We are delighted to confirm the completion date and announce Shandong Ruyi's further financial commitment to the transaction."

Just spoken to a very nice man on that number jdosso....I explained that I was a shareholder and wanted clarification of the Strategic Partnership with Shandong Ruyi and how I was under the impression that shareholder approval would be required before final payment and completion of the deal confirmed by Rns on 18th to happen on 31/8/18....and he said "that's the plan", ....I said that I knew about the AGM on 3/9/18 and so presumably shareholder approval would happen before then and before 31/8/18....and he replied "that's the plan ".....Gla holders....Watch this space!!! :-)

I tried the London number a couple of times earlier , Bagir Holdings, but there was no ring tone.

I've emailed the company too, for clarification. Gla :-)

The Directors of Bagir believe that through forming this strategic partnership with Shandong Ruyi together with the significant increase in capital, the transaction has the potential to transform the Company and its ability to compete and win major apparel manufacturing contracts from the world’s largest retailers.

The Directors’ rationale for the transaction is as follows:
-
Shandong Ruyi has substantial retail/textile investments globally and is therefore
well positioned to provide Bagir with significant new commercial opportunities.
-
The new capital will be used partly to expand significantly the suit trouser and establish the jacket production lines in the Company’s duty free and cost-competitive Ethiopian manufacturing base enhance R&D and innovation activities
-
Provide the working capital to support the growth
-
Shandong Ruyi and Bagir will evaluate ways in which Shandong Ruyi can provide
additional future operational support to Bagir.

Commenting on the development, Eran Itzhak, Chief Executive Officer of Bagir said in a statement: “The Shandong Ruyi Group team recognises the strength and experience that we have across our business and it is our advanced position in Ethiopia which they have identified as providing them with a global strategic advantage. With Shandong Ruyi Group as a key shareholder and partner we believe that Bagir will be best placed to exploit the opportunity presented by our Ethiopian manufacturing base far quicker and with more certainty than we could independently.”

................

The deal does not include the sale of shares by the existing shareholders; all the money from Shandong Ruyi will go directly to Bagir, which aims to continue development of its plant in Ethiopia. Bagir acquired the plant several months ago with an investment totaling several million dollars. In retrospect, this acquisition paved the way for Shandong Ruyi's current investment.

The reason is that the cost of textile production in China has risen substantially, and the industry is labor intensive. It appears that Shandon Ruyi is looking for cheaper production sites, and Ethiopia is one of them. Building a plant takes a relatively long time, so acquiring control of Bagir will give the Chinese company access to an existing production plant and cheap labor. Furthermore, the Ethiopian plant also has the advantage of exports to the US and Europe free of customs duties, in contrast to plants in China, so Bagir also constitutes a channel for the Chinese company to enter the US market.

I'm fairly certain we'll have a significant increase in buying volume as we closer to the deal confirmed end of August, I'm off to France for a couple of weeks holiday next week and will be keeping a close eye on proceedings, and wouldn't be surprised to see 3p plus by the time I get back in anticipation of Shandong’s 54% controlling stake and $16.5m cash injection...more good news in the pipeline from the strategic partnership thereafter, very likely. Gla :-)