26 Feb 2008listing compliance notice● Neutral
Suspension lifted on 26 February 2008 after the company issued an announcement clarifying its 2007 forecast results. Trading resumed.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
25 Feb 2008listing compliance notice▼ BadMajor
ASX suspended Omnitech's shares on 25 February 2008 pending clarification of its forecast results for the year to 31 December 2007. This came shortly before the annual results were due.
28 Dec 2007director officer appointment● Neutral
Independent non-executive director Tony Ng resigned effective 20 December 2007 for personal reasons, with no disagreement with the board. He held no securities.
30 Nov 2007admin correction● Neutral
Text not readable.
25 Sept 2007director officer appointment● Neutral
Wong Kin Chi, a Hong Kong accountant, appointed independent non-executive director from 24 September 2007. Board refresh only.
31 Aug 2007half year report● Neutral
Half-year to June 2007: turnover fell 46.42% to A$9.32m as Lik Hang shifted to lower-value, higher-margin energy-saving components. Net profit was A$149K versus a A$241K loss a year earlier, helped by the VFJ disposal.
30 Mar 2007annual report● Neutral
Cover letter for the 2006 annual report. The body text is largely garbled in this copy, so no detail can be taken from it. The headline results were already given in the February preliminary report.
27 Feb 2007annual report▲ Good
2006 results: revenue up 21.39% to A$33.24m and net profit A$2.07m versus a A$633K loss. This includes a A$2.27m one-off gain from the VFJ sale, which was the sale reported in the earlier announcement.
23 Jan 2007director officer appointment● Neutral
Geoff Baker replaced Ted Avery as the company's Australian local agent from 15 January 2007. Administrative.
2 Jan 2007asset acquisition disposition▲ GoodMajor
Sold all of loss-making VFJ Technology (smart cards) to Best Treasure Technology for about A$1,637 cash. VFJ had net liabilities of about A$5.1m, so a gain of about A$1.9m is expected. It resolves the VFJ problem flagged in earlier reports.
24 Aug 2006half year report▲ Good
Half-year to June 2006: turnover up 48.85% to A$17.39m and loss before tax narrowed to A$241K from A$364K. Lik Hang drove the improvement, while the loss-making VFJ smart card unit remained under board scrutiny.
31 Mar 2006annual report● Neutral
Full 2005 annual report. The Lik Hang electronics division grew turnover 19.3% to A$27.4m. The 69%-owned VFJ smart card division fell to A$484K from A$1.18m, and the chairman called this disappointing and in need of urgent review.
28 Feb 2006annual report▼ Bad
Omnitech's 2005 results: revenue rose 15.5% to A$27.87m but the company swung to a A$633K net loss from a A$136K profit. A roughly A$2.9m debt-to-equity conversion completed 30 December 2005, cutting gearing from 142% to about 126%.