I thought according to stockraider, Siva and gang will vote YES, and correct EPF and Socso is not in the shareholders list.

Fyda74 if that's true then, Reach is closer than ever to get the QA approved. At the moment even if TH voted NO, the YES will most likely be more than 75% . There there stockraider I am positive you'll get the 0.76 the quicker way.

What about team Siva and maybe half of the retail investors?

I see, thanks stockraider :) Btw, based on analysis of shareholdings section on Reach website, TH has 4.93% shares now. Or equivalent to 62,965, 300 shares. Check it out guys. I think the outcome is probably more on the approved side.

Haha oh my, the warrant is looking more and more tempting now. If only there's any reliable indication on what TH is voting for. Opps be careful guys :).

@stockraider they are doing Reach a favour. Not us. Hence Reach gotta reciprocate. @Brutus121 such is the power of money. Toll collector or not, they got the capital to move things around hehe. @Tankhaylong Imagine the wave it would cause if an entity tried to buy all the shares queued in the market. 100++ mill worth of transactions some more. UMA and replies and etc. The price would have moved way up by now.

@tionghc2002 tempting. At current price 1 mill warrant will cost about RM60k. We'll see.

Wow..that's a very nice portfolio for MTD!

Well, that's the business world hehe. A favour for a favour and at least we get an attempt to reject the PP. MTD will lose a lot more if for some reason Reach didn't do their best and QA isn't passed. They could have just acted like a yield investor instead of buying out CS/PAG above market price.

Agreed fauzan, they bought the shares belonging to the yield investors at 0.76! Instead of buying the ones that are being queued at that time, which was around current price, 0.705-0.71.

Hehe chill guys. Retail investors make up only 4% of the total shareholders. Reach got all the sharks they need to push the QA to be approved. Potential yield investors all bought out already. There's no need to bicker until headache one.

There's an updated FAQ on their website. If I recall correctly, the cashback formula is stated in there.

Based on the annual report 2015, (the easiest source at the moment - their website) Tabung Haji has about 22,828,100 warrants. Friday's transaction saw about 96 million ++ warrants changed hands. It's either a domino effect after seeing large transactions occuring or there is a valid reason. I would like to know what prompted rohank71's statement. Purely 'I think' or hinted by some reliable sources.
Money is the motivation, these last 4 days before the EGM will see a lot more drama. Retailers like us are in the least fortunate position. Anymore purely conjectures will not really benefit us. We are swimming with the sharks really.

Agreed with TheContrarian. By the way, check out the careers section of the Reach company website. That's a very positive indicator isn't it? As for the warrant price, I would say monitor for opportunity. Control your emotion :)

Haha rohank71, a while ago you said something concerning Petronas not accepting Reach's proposal and now Tabung Haji? That's a bold claim

Today is T3-T4 for contra players. Monitor for opportunity. Why oh why even if you are not convinced of the QA being approved or against it, would you throw it out at less than guaranteed return of 0.76. At this stage, Reach wouldn't throw the game away. Such a waste of resources if they did allow that now that everything seems to be pointing north.

@fauzan http://www.bursamalaysia.com/market/listed-companies/company-announcements/5243337 that hurdle has been removed. It's really down to shareholders approval.

Hehe well, at the moment the sentiment is playing out as if Reach is confident of getting the QA approved with most of the majority shareholders are likely to say yes...and I saw small lots getting sold at 0.705...when you have the potential of getting 0.76 back, unless you are a contra player with no cash. What a loss then.

Eh...if the price doesn't improve come EGM, and with the hint of the chnce for the QA getting approved is better and better with the sharks in place, just vote NO. At least retailers are saved from cutting loss. 76 sen per share for the repurchase right? Don't cut loss now.

@Tankhaylong, those who purchase yesterday will have their T3 on Friday, the cutoff date, if they sell it before this Friday, they are not eligible to vote. Those who purchase today onwards are not eligible.

That's like 2.3%++ . Let's just say they add more, up to 30 mill, thats 3%.

I see, thanks TheContrarian and acadi, my understanding has been influenced more or less by how the news reported it.

There are factors, including people's trust in SPAC, outlook on the OnG industry since this first asset is directly impacted by the world's oil prices whether good or bad (they acquired this one when oil was at one of its lowest points in the last 10 years?)..oh well, we are not that far from the finishing line now, come on Reach, finish strong!

If that's true, then even better! Here's one of the links that gave me the idea regarding Credit Suisse. Dated 14 Oct 2016 http://www.thestar.com.my/business/business-news/2016/10/14/down-to-the-wire/

@acadi as per my understanding so far, Credit Suisse is the only yield investor left. So there's a higher chance that the QA will be approved. As per what Ramlee said, most giant funds, they don't have the mandate to buy SPAC shares. Will they join the ship once it is approved and Reach becomes a real OnG E&P company? Hence I repeat,"Interesting" :) .

Check out the latest announcements ladies and gents. Interesting :)

@chowsingchi tomorrow is the last day to buy if you want to be eligible to vote during the EGM. Friday is the cutoff day.

Wow the drama! Ktsk88, I'm pretty sure TheContrarian confirmed with the company secretary that PAG's shares have been bought by other party. Hehe with the possibility that the price might be pushed up at the last minute, so many possibilities of who is trying to jump in and out with some profit!

Hehe chill guys. I personally would love to see the QA approved. Trace my comments if you wish. I was simply stating the possibilities. Now, now enjoy your weekend :) .That's a very refreshing point Ramlee.

Hehe, in a way that's a safe method for retailers to make a quick 6 cents profit. Theoritically if the price is not maintained within a certain a range, buy some and vote No. Fill up some forms and you get the more or less 76 cents per share return. Work harder Reach team. ;)

@speakup I believe in Reach's case, the investors are given the chance to allow the company to repurchase their shares. Check out the circular part 1 section 18.2 to 18 3 starting from page 83.

@CK Chan, if I remember correctly, the 20% they have can't be traded until at least a year or so after proposal is approved. Correct me on the period if I was wrong.

That's a very good news, for an entity to pay as much as 5 cents above market price speaks a lot about the prospect of this QA in my opinion. Late November, there will be another OPEC and non OPEC meeting. They call this one an official one. They want to reach the specifics of the so call production control/cuts. All the best Reach shareholders!

@acadi I'll try to answer some. Pardon me if I gave the wrong info. At the moment, we know that there's already facilities in place which cover about 40 square km..and there's another 800 square km to be explored, but I cant really find any net tangible asset value advertised anywhere. Pretty sure MIEH got assets elsewhere too so can't really guestimate from there (60% of MIEH NTA if Kazakh is their only asset). But you can check out MIDF brief analysis and report on Reach QA published in August. P/s: woah I'm surprised to see risk takers in action in Reach-wa.

5 mill++ unit changed hands already as of now. Mostly sold/bought around 0.715. So much drama haha.

Yes, I have to agree with that. The Reach team will have to work harder especially in a time like this when the OnG industry is gloomy and really unstable and most investors would stay away.

@stockraider Yes, in that scenario. @TheContrarian I believe those figures are just for understanding. I just re-read the latest circular part 1, there are a few scenarios: no dissenting shareholders, 25% dissenting and in the even the PP is not implemented. Have a read, check out section 4.2 especially point (i). Tell me what you think. Allow me to pick your brain. I might have a different understanding.

Eh I thought the PP is to replace dissenting shareholders. Pretty sure no dilution issue. But let us all check.

Btw, check out the latest announcements, i.e..the circulars regarding the QA (very detailed) and the latest shares disposed by Credit Suisse AG .about 5mill unit. Also amendments on the latest two acquisitions by Credit Suisse AG and Credit Suisse Europe. Interesting eh.

Haha. Grand, you are funny, you realized the safety of the mother and the risk of the warrant, and yet you are stressing. Stay away from the warrant then. No stress at all.

Hehehe the drama is riveting. Thanks for sharing everyone. Good idea rohank71 and might I add, we are most probably at the start of oil price recovery despite what pundits speculate about surplus in 2017. There's news about flurry of meetings between Opec and non Opec, up and downs in the US oil inventories, record outputs by producers. Oh my oh my.

I'm just assuming, we'll see what happens later in the future.

@speakup in my opinion, could be time factor. Referring to the latest announcement, they bought around 20-21 Sept at around .680 to 0.695.In what could be less than a month, they are guaranteed a buyer at 0.72.

@tionghc2002 it's either they want to take the opportunity to gather as many shares as they could before the big buyout by the potential long term investor at 0.72 or simply want to take advantage of the potential profitability now that we heard of the last minute positive development from Algeria regarding oil output cut by OPEC members. I think Reach will do its best now that we got a slight hint of oil price recovery effort.

Wow, your enthusiasm plus username reminds me of Mr Sahathevan :). Things are getting interesting.

@pong7 no one knows. The game between OPEC and the non OPEC is scary. Whatever happens, those involved in stock market should have a certain plan/discipline of when to enter, when to take profit and when to cut loss.

@rohank71 ...
Agreed with Orson Chin and tionghc2002.

@rohank71 anyone can say anything on the net. I would love to know from where you get this idea. @thecontrarian, I believe the political climate is quite ok. No threat of civil wars looming hehe. @cruz I heard sumatec was screwed from the start when they partnered with another not so good company. Also taking what I've read from the biodata of the Reach Ceo and his team, this is probably a lot better than what sumatec had to offer.
@ktsk88 given the current climate, you have every right to say that. But I'll keep monitoring. Have a great long weekend everyone!

@TheContrarian I see and it's offshore. I went back and re read some of the articles about Reach Energy to refresh some details about the statement related to Reach still profitting if oil prices were to reach 30 USD per barrel. Apparently the operating cost for the Kazakhstan oil field is about 15 USD per barrel. I guess this refers to cost from operation of installation that are already in place and not yet including future exploration expenditures. Hmmmm.

I'll just throw this out there. The why I thought Reach's QA was attractive:

1) it's on shore. Less cost, I mean if you compared to offshore installation requirements (weather+transport i.e crewboat or helicopter+extra safety measures required+extra moolah/allowances for the operation crew). Et cetera.

2) the suggested field is fairly young. Production started around 2011-2012 and so far they've only explored 45 km square out of the 850? Sona's one started its production in 1998...I would assume MIE Holding put the Kazak field up for grab because of the uncertainties surrounding oil industry at that time? How low could the price go was the chant. Now these prices have probably found a good support in the 40 ish range.

3) location, there was a commentator who suggested that the 'nearness' to port will reduce some cost.

4) in one news report, the CEO Shahul said that even if the oil prices reached 30 USD per barrel, the proposed QA will still bring home profit because of the low cost per barrel. I'll take this with a grain of salt.

5) Shahul mentioned in one of the interviews that he has been through 4-5 cycles of oil prices going up and down, and this is the longest the prices have been at the bottom. The OPEC and non OPEC meeting later this month might bring something good but we'll see. The current world issues going on, proxy war in Syria, Yaman etc hide strained relation between the major oil producers.

Enough for now. I believe everybody would love to see this QA succeed where others failed BUT...I leave that to you. Hehe. Come on Team Reach. Work harder.

Footnote: LOL I just visited Credit Suisse website and saw that this body is a pro renewable energy sources. Not that I try to speculate anything. LOL.