This is the real content of the shareholder agreement of Mong Duong II. It is my assumption that JHDP will have similar shareholder agreement.

JHDP Unit 1 successfully completed turbine rolling !

越南时间7月25日3时15分，公司承建的越南海阳2×600MW燃煤电厂项目1号机组汽轮机冲转一次成功，顺利达到额定转速3000转/分并成功定速，各系统设备运行平稳。
　　海阳项目为“一机两炉”模式的亚临界发电机组，系统复杂、属地法规要求独特，为顺利完成1号机组汽轮机冲转节点目标，项目部从两台锅炉吹管完成开始紧紧围绕机组冲转和整套启动目标，先后克服了疫情影响、人员不足、厂家设备质量等诸多问题，认真组织、提前策划、精心安排、加班加点、勇于担当，全力保障1号机冲转进度目标。通过与业主、总包、OE的共同努力和密切配合，实现了1号机组汽轮机冲转一次成功，这也为接下来的1号机组进入336小时运行及商业运行奠定了坚实的基础。
　　1号机组汽轮机冲转成功是疫情发生后海阳项目第一个重大节点，带给了全体员工极大的信心和鼓舞，在确保安全的前提下，项目全体员工将再接再厉，以真抓实干、求真务实的作风，全力以赴完成1号机组336小时运行和商业投运目标。

Normally reserve matters listed in the shareholder agreement are more for protection of minority interest. Dividend payment, board composition, executive positions are among the most important issues. Therefore, these matters are certainly among the reserve matters which must be adhered to by the company unless overturned by unanimous board decision. If everything leave to board decision then no point having shareholder agreement. Minorities are then at the mercy of the controlling shareholders. This will not happen for international cooperation.

Those who do not believe there is a shareholder agreement between Jaks and CPECC may ask the directors during the AGM

"unanimous board decision"

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In Mong Duong II case, AES owns a 51% stake while POSCO Power subsidiary PSC Energy Global and Stable Investment have a respective stake 30% and 19% in the project.

There is shareholder agreement governing numerous reserve matters which require unanimous board decision to overturn. Full distribution of idle cash is one of the reserve matters, changing of board composition is also a reserve matter among many others. The biggest shareholder will take the CEO position while the next biggest will have the CFO post.

Mong Duong II has been paying dividend every year since commercial operation.

Jaks will eventually have 2 out of 5 board seats in both JHDP and JPP.

Therefore, there is no risk of CPECC refusing to pay dividend.

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firehawk Philip ( buy what you understand) , Do u find this 2 sentences logic? frankly, I myself can;t understand, since u rise it, just ask ur opinion.

>>>>>>

Jaks will eventually have 2 out of 5 board seats in both JHDP and JPP.

Therefore, there is no risk of CPECC refusing to pay dividend.
24/07/2020 4:40 PM

12 months after COD

In Mong Duong II case, AES owns a 51% stake while POSCO Power subsidiary PSC Energy Global and Stable Investment have a respective stake 30% and 19% in the project.

There is shareholder agreement governing numerous reserve matters which require unanimous board decision to overturn. Full distribution of idle cash is one of the reserve matter, changing of board composition is also a reserve matter among many others. The biggest shareholder will take the CEO position while the next biggest will have the CFO post.

Mong Duong II has been paying dividend every year since commercial operation.

Jaks will eventually have 2 out of 5 board seats in both JHDP and JPP.

Therefore, there is no risk of CPECC refusing to pay dividend.

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Dear Sslee,
Given the illustrated figures, if all Jaks-WB remain outstanding, its exercise price will be adjusted downwards to approx RM0.34 and the number of warrant will be adjusted upwards by approx 88% to ensure that warrant holders are not disadvantaged by the RI.
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Sslee Haha,
Current warrants is not free. The proposed RI Rights shares is together with free warrants.
Anyone know what will happen to current warrants conversion price ex Rights shares with free warrant?
22/07/2020 8:36 PM

Nobody can get the warrant free including the directors. Everyone must pay Rm0.25 per warrant.

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The average cost per share will be reduced from RM1 to RM0.523 excluding the free warrants

((5 x 1.00) + (8 x 0.225))/13 = 0.523

Windy1974, you are right in saying so. It will cost RM360 extra for every 1000 shares held. The margin of return will be less but the absolute return amount is the same. I m not wrong in saying that the average holding cost per share will be reduced. My point is while the TP will be reduced due to dilution but you have to consider that your average holding cost is also reduced. So opportunity is not entirely lost for shareholders who subscribe for the right issue. It is not as bad as the way some have described it.

Windy1974, I m referring to average cost per share. If your cost is RM1.00, your average cost will be lowered to 0.523 per share after right issue. So, while the TP will be diluted, your average cost will be reduced as well.

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Windy1974, thank you for your advice but I will stay at least until JHDP releases it results and proven me wrong. It is about believing in yourself. Never give up halfway.

Even though there will be dilution in shares but the Right issue will lower your average cost.

I have advised my group members of my final target price based on warren buffett's owner earnings.

I have yet to decide whether to share the article in this forum since most ppl here will not be interested anyway.

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Windy1974 In life, it's so hard to be objective. We always wanna believe what we hold true to. Irregardless whether it's investment, politic, business or relationship.
If 1 genuinely believes in his investment, he is not a crook to share his views with others unless he did it knowing it's not facts.
DK. As you highlighted previously, you wished people to highlight your wrongs. Assuming the power plant earnings will be RM200 to RM250m as per your projection, valuation of JAKS no longer hold because of the dilution in shares. What would be the new target price and what's the potential gain from current price?
With the Covid 19, i reckon there are many stocks that could gain 50 to 100% once their business earnings back to normal. Personally, i reckon that would be a more predictable results, as the results were proven.
Do consider divest.
21/07/2020 9:13 AM

Dear Sslee, you have my full support. I agree that the revised proposal is excessive especially given that portion of the proceeds is not allocated for specific purposes but general in nature.

It is always easier to criticize than to praise. Jaks secured JHDP but hardly hear any good words when the price is under performing.

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My world is full of caring people.....people who are not selfish....people who are willing to share.

Quarterly results are unaudited and do not require auditor's approval

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keechungwong54, you are welcome. I feel sorry that you have to leave because of this fund raising. Anyway, all the best in your future investing.

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keechungwong54 I thank very much to DK and OTB for giving so many advice. It is because of the incapable and inability CEO and his team management.
15/07/2020 5:29 PM

seekim, I checked you user id is in the group member list. I do not know why you can't access the group chat. You have to use the i3 messenger.

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you were added on 30 May, Please use i3 messenger to access Jaks group chat

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Connie24 DK please add me in yr group
14/07/2020 5:15 PM

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added

Clarimate Hi DK, please add me to your group, thx
12/07/2020 11:49 PM

https://klse.i3investor.com/blogs/Jaks%20resources/2020-07-12-story-h1510511009-Jaks_Resources_An_exclusive_interview_with_Nanyang.jsp

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added

Tawau9 DK, please add me to your group
12/07/2020 9:23 PM

added


tingpangeng Hi DK, please add me to the group. Thanks
12/07/2020 7:36 PM

added

cyber22 Hi DK, pls add me to the group. Tq
12/07/2020 5:36 PM