Still selling pressure too great.

People are wondering now, is it waiting for a rebound or waiting for the nx round of selling pressure.

The CEO and his BOD are banging their heads now wondering what went wrong!

Never mind Amstrong.....just let us get out of this mess first.

Hopefully the CEO will announce the cancellation today in view of shareholders resentment. People will start chasing the stock back. Everyone will be very happy except those who sold off earlier.

To be fair to the shareholders, the CEO should have suspended the counter before making the announcement. Give time to shareholders to take the nx step of action. That would be the proper way.

Nikmon.....okay, will do.Thanks for your concern.

Even the buying by KWAP a few days before the RI announcement was pre-planned to lure retailers to buy Sapnrg. I believe this is a scam to save the CEO's neck.
28/08/2018 10:10

Unfortunately, its working against him now. The plan backfired! His market cap is rapidly diminishing.

Even the buying by KWAP a few days before the RI announcement was pre-planned to lure retailers to buy Sapnrg. I believe this is a scam to save the CEO's neck.

Nikmon......I'm still hoping that would happen. Anything is possible.

Only last friday morning everything was calm and normal, suddenly in the afternoon this fiasco started. I put the blame on the CEO. Why is he punishing the shareholders?

I want to see how low it will go and what the CEO intends to do about it. I bet the shareholders will be raging mad at the EGM.

The RI is supposed to give benefit to shareholders. Give them a chance to buy the shares at highly discounted price. But now the plan has gone awry. It goes the other way round. It hurts the shareholders most.

I feel at this price, the 30cts RI is just a joke!

Its ok.....what to do.

Just bought 36.5 cts
see how it goes

Nikmon....nothing is sacred and nothing is impossible. Just my 2 cts, nothing more.

Nikmon....Its okay, you are the only clever one here. I admit, I'm not as clever as you.

After all the RI is just a proposal subject to approval from shareholders in the EGM. If approval is not granted, they have to call it off. It is not yet a legal binding document that it must be carried out no matter what. At this stage, it is just a proposal. It can be called off anytime if it doesn't go well with the shareholders.

I bet the CEO didn't expect the price to slump to almost half the price before announcement was made. He thought the offer made was very attractive at 30 cts ie half the trading price. He thought people would scramble to purchase Sapnrg shares. Boy, was he wrong! Can you imagine, Sapnrg's market cap being wiped out by more than a billion ringgit in a day! He must be having nightmares now. The best thing to do now is call off the RI and think of other options. Do the thinking now, after all we don't pay you 71 mill for nothing!
There are cases where RIs were being called off because they were not in favour of the shareholders in the EGM and the share prices slumped to ridiculous levels until the RIs were no longer attractive.

Rookieinvestor: the rights issue is 30 cents . The price must be higher than 30 cents to make it attractive for the shareholder to pick up the right issue. If it below or 30 cents, the shareholders would not subscribe for the right issue therefore defeating the whole exercise.

It makes logical sense. I agree.

risk : Thank you for the explaination.
Pmaster : I'm just a small fry, my funds are limited but thanx anyway for the advice.

I still can't get it why there would be a free fall tomorrow. Why not today? Or is it just a wild guess?

risk....Pls tell me whether can enter tomorrow. TQ

risktransformer.....you're right. Closed 37.5 cts

Can someone tell me pls why free fall tomorrow?

I'll only sell on rebound.

why free fall tomorrow?

The retailers are the real victims here. The scammers will be laughing all the way to the bank soon. The CEO is also part of the problem.

I don't think institutions are selling. Only retailers are running scared after the announcement. They are opening their mouths wide to gulp all the shares being thrown to them at fire sale price. In a way, they have created a legal scam.

Yes mastermarcus....I wanted to ask the same ques.
Who is buying the shares now? Its like they want retailers to sell to them cheap and they are mopping up all the fire sale shares.

Remember. Its a trading counter now.

"The proposed rights issue is subject to shareholders’ approval at an Extraordinary General Meeting to be convened later. " i wonder what is the poll result in EGM....if not approve. then........................
27/08/2018 11:29

Shinnzaii.....if not approve, it will go back to 60 cts. Retailers will have been slaughtered for nothing.

price : RI 30 cts + 15 cts conversion = 45cts
Should stabilise around that price.

JN88 .... Same here.

Buyers are coming now.

I believe the selling has been overdone. The RI issue still has to get shareholders approval. The company stays the same as few days ago. Rebound is imminent.

I believe stocks don't fall forever. There will be a technical rebound. Then we sell.

Don't make irrational decision. Sell when there is a rebound. Don't sell now. Rebound is imminent. Its already at the lowest.

Possible Pmaster

Yes...rebound is imminent. No stocks will fall forever.

The only saviour is, only if they can announce profit nx Qtr.

Treat Sapnrg only as a trading counter now.
This is the level where they announced losses of 2.5 bil before. So, this is the support line I guess.

Looks like someone is controlling the price movement. So that it won't free fall and it also won't shoot up.

Analysts are all conmen. They always give misleading buy calls.

Its ok...tq Pmaster

Jernyn , if you just cut loss , how much you lose ? dun do the average price .
27/08/2018 09:47

Pmaster... If i sell i would lose around 50k

Everybody wants to make money, even the sharks, we just have to play our cards right. Sapnrg has gone down more than 30% already, its time for rebound.

I agree they have to push up the price to make the RI attractive to investors, confident it will rebound.

my average is now 49 cts
can buy more if it goes down further