Me to..blurr

If we all remain calm. Reach will become sona number 2. Try to reach out to shareholders at the 13th hour knowing fully well the game ends at the 12th hours. Like they say . Justice must not only be done but it must be SEEN to be done. Like wise, the Reach management must be proactive. They cannot just bring an asset for shareholders to vote on. They must be SEEN to engage shareholders at every level and at every hour. Only then even the hardest shareholder in town will open up their ears to hear out the management game plan

Why you guys need any article to prove or disprove your point of view. Just ask the Reach management to do something which is LEGAL but unorthodox. Call for a town hall meeting among registered minority shareholders. And brief us and allow us to ask questions until the cows go home. I wAnt such a meeting because the way I see tabung Haji buying. I can see something special taking place. It will be ashame if Reach takes the tried and tested route, dont work on the momentun and end up like Sona

Point is we need a QA on the table. Yes I am aware that the management has submitted a proposal to the regulators. That being said, what is the management doing to inform the minority shareholders of the progress. I mean we are registered shareholders . Has anyone crowded us oreven bother to find out what are out views on this deal. Has anyone talked to us to explain to us what this deal is about,? Why we should say YES to this deal. Not all of us have oil and gas background or been to khazakstan

No point debating this or that. Put the QA on table and I believe we have the making of a Ramunia like share play

We must get QA on table for shareholders to vote on before Having Haji lose interest

Revenge of The SPAC : Reach Energy Will Be The Last Man Standing.
Our Reporter a day ago
Kuala Lumpur : The SPAC army got a good -hiding , is just stating the obvious, and is by no means an understatement.

CLIQ couldn't even get off the blocks, as their qualifying asset (QA) got grounded by the regulators while poor management of shareholders, ment SONA Petroleum's QA got culled by shareholders.

Interpac' Securities Research head Pong Teng Siew feels that Reach might have a better chance of succeding where Sona and Cliq have failed.

By all accounts, Reach is the last man standing, by virtue of it being the last of the oil and gas SPAC (special purpose acquisition company) on Bursa Malaysia.

But will Reach be the last man standing if shareholders are called upon to vote on the future of Bursa Malaysia's only remaining oil and gas SPAC?

MyStock 118 HIGHLIGHTs the word IF, because before even we can talk about how shareholders will vote, Reach has got to get the QA approved by the regulator.

The requlator will only approve a QA, if they are convinced that the asset identified by Reach is indeed a good asset that can yield a minimum 15 per cent return consistently.

Reach is proposing to buy assets in Kazakhstan for US$154.9 million.

Assuming Reach does get the approval to present the QA, to shareholders, the possibility of Reach getting a 75 per cent YES vote looks STRONG.

Reach is different than Sona in the sense that it has got two shareholders that will be able to vote at any special shareholders meeting, that are obviously not shy in placeing their money where their mouth is.

The duo are the MTD Group and seasoned oil and gas investor Tabung Haji. Tabung Haji made a fortune in Ramunia, and it looks like the fund, is serious in wanting more of the good stuff.

Tabung Haji was one of Reach's earliest cornerstone investors, but they bailed out of the company on June 11 2015, when the ceased to be a substantial shareholder.

Fast forward now to May 15 2016, when the news no SPAC wants out, became public. PAG Holdings Ltd , the known yield investor which acts for Credit Suisse became a substantial shareholder of Reach.

With that, the market had started writting in advance the obituary for Reach. But then something STRANGE happened.

Tabung Haji came back, and they came back with a bang. On 29 March, the company bought enough shares to push it's shareholding to 5.05 per cent or 64.54 million shares.

The purchases were only disclosed to the market on April 7 this year. And since then the company has bought an additional 30 million shares in just over 13 trading days.

According to the Wall Street Journal, Reach's average 65 trading day volume is 1.25 million shares a day. If this information is accurate, then, Tabung Haji off late has been mopping anywhere between 30 per cent and 50 per cent of every Reach shares traded in the open market, at a level seen to be unattractive to the common yield holder.

Obviously, Tabung Haji has returned to its old play ground for reason other than yields. MyStock 118, expects Tabung Haji to keep buying Reach shares next week.

The fund will likely only show it's real fire power if the Reach management team can get a QA on the table for shareholders to vote on.

Do that, and you can count on Tabung Haji not being bossed around on its home turf by funds foreign or otherwise.