Hadian and his fellow directors are a bunch of clowns!!! They had a 2nd chance to get it right but they sat on their asses, and did nothing but blow smoke up each other's asses. We got good asset, people should vote YES. WTF!! Talking like small kids. SC should vet promoters like this, who have no clue whatsoever about running a plc, and not allow them to be on the board of a plc.

T1T4N, You would be looking at closer to 47.5 sen, after deducting liquidation costs, taxes, and any other related costs. And you would be lucky to get your money back in 12 months, more likely in 18 months.

I have sold all my Sona. My financial interest in this stock is over. Now, I am only interested to see if a bunch of amateurs can actually get the QA approved. If they can do it, then any Tom, Dick and Harry can. Good luck!!

Either we are dealing with a bunch of clowns or a genius of a businessman. Either way, the public gets screwed, again. Welcome to Malaysia.

callme777. You could be right. Never thought about that angle. I mean, it's only USD25 mil, and if the asset is so good, as they say, why share with the public? Let the share price be low, people will vote No, than they get a chance to do it privately. Genius!!

callme777. That's exactly my point. Would you invest your hard earned money in a PLC where the owner/management doesn't understand the requirements of the investing public? It doesn't mean that you are not a good businessman or that you are not smart, it just means that you need to learn what the market demands are. Otherwise just remain a sendirian berhad.

If the promoter, who is the one who negotiated the deal and is expected to run the company after the QA, doesn't see it fit to buy Sona at this prices, why should the public buy?! He can go on and on about the merits of the asset but ultimately, you have to put your money where your mouth is. Stop giving us lip service, it is getting really monotonous!!

The logic is simple: buy up to 30 million shares, the price will go up to abt 48c. it will cost more or less RM15mil. Most shareholders will vote in favour, as the price is higher than the 475c they will get if the QA is not approved plus the 18 mth (at least) wait. If the QA is approved promoters shares will be worth in excess of RM120 mil. A Primary 1 kid can do the math for you. And oil prices are not tanking, are they?

I dont feel confident about this. Looks like the Promoter doesn't understand how the market works. He seems to think that he has a damn good asset (his point of view) therefore everyone will vote in favour of the QA. Brother, if the share price doesn't start to show some confidence, you can kiss your QA goodbye.

coolinvestor, thank you for the clarification. And I do agree with the rest that, to ensure smooth passage, Sona share price should start moving up. That will reflect confidence in the QA and the ensuing business operations. Also, it will serve to dissuade the fence sitters from voting 'no'.

Can Sona management kindly give us in simple english, combining CS and PAG, exactly how many shares do they have in total? I have read the announcements but it doesn't make things any clearer for me.

2-3% may not be sufficient to offset the country risk. Plus the fact that, in 2 years, we will be having our elections, more uncertainty. Good luck to the yield investors. Life is not that easy...unfortunately.

I must say Best Oracle's request for a judicial review is a timely reminder to those yield investors who think they can get an easy ride. Yield Investors, please go back to your little holes and re-calculate your yield per annum should the same thing happen to Sona. Instead of 3 months to receive your funds back, now input 2 years (maybe more) in your formula and see if you still get your required return. Nice one!!

The warrant price movement before EGM will tell you the story.

rohank71, please don't talk shit. There are investors here reading this stuff who have money at stake. Even if you are the co sec, you won't have this sort of info, for the simple fact that it is not available anywhere. So, please go play your games elsewhere!!

If this news is positive, shouldn't the share price be moving up? I am confused now.

WTF. Come up with this on the last day to buy, if you intend to attend the EGM?

EGM at 10 am on 30 March. The approval or rejection of a QA does not in any way affect the standing of the investment bank sponsoring the listing of the SPAC. It is incumbent upon the promoters of the SPAC to present a QA that is acquired at a fair price, and deemed to be profitable in the long run. In other words, the promoters have to 'sell' the QA to the investing public.

Sona warrants, like all SPAC warrants can only be exercised upon approval of QA, after which they become like any other company warrants.

rohank71 & jack2, you guys are absolutely right. callme777 is just emotional and not thinking as a rational investor. Let him be.

I have sent in my proxy with a YES vote. I might as well ride with the QA, and see where it goes. If the vote fails, I will sell at 44/45c and move on, not going to bloody wait 2 years to get 48c, forget that!! It's a good trade where the upside is great and the downside limited.

If the QA is not approved, your warrants are worthless. But if the QA is approved, your warrants will be easily worth 15c.

Any rational investor would vote yes. If you vote no, you will have a min of 12 mths wait for your 48c net return. However, looking at the QA, it looks like a real good deal. Already producing 4400 bpd. The cost of production is USD30. Gvn the current oil price of USD40, they stand to make USD10 per barrel. 4400 bpd X 320 days X USD10 = USD14.08 mil. In RM, it is 59.13 mil, thts 5.3 c p shr. At 60c, it is only 12 times PE for an oil and gas stock.