Sign up Australia
Proactive Investors - Run By Investors For Investors

Sterling Plantations shares surge 900% today, potential reverse takeover opportunity

Sterling Plantations will soon become a clean shell company.
price growth concept
A shell company can be incubated with a new asset to facilitate a fresh start

Sterling Plantations Ltd (ASX:SBI) shares have surprised the market today trading up 900% or 10x higher to 10 cents.

The company is in the midst of change.

Sterling was principally involved in oil palm plantation development and the sale and marketing of grower plots until August 2017.

In the process of selling the plantation

The company made the decision to close the growers scheme and at a growers meeting in October 2017 agreed to close the growers scheme.

Within 12 months from the growers meeting, Sterling will structure the best possible proposal to sell the plantation.

As at 31 December 2017, the company had a net cash balance of $0.745 million.

The company could be the subject of a reverse takeover

Subsequent to the closure of the growers scheme, Sterling will be a clean shell company, meaning it will be a target for reverse takeover.

At the company’s AGM presentation in November 2017 it said that post-closure it would be attractive for a new business to be injected.

View full SBI profile View Profile

Sterling Plantations Ltd Timeline

Related Articles

Mexican flag
March 26 2018
PLCs in emerging markets no longer have to find someone to promote their company to overseas investors
September 01 2018
The tech group is increasingly expanding its geographical reach and gaining traction in China
picture of trading screens
July 12 2018
With an optimistic outlook on future earnings, the company expects to recommend its first dividend in the second half of the current financial year.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use