As time is running out for Sona to complete the QA or get delisted, maybe Sona can explore the following options together with their earlier proposal of capital refund.

1) To persuade the Vendor Quadrant NorthWest and Santos to use part of the proceeds from the sale to buy up 100M shares belonging to yield investors. Maybe similar amount free warrant can be issued to them upon completion of the sale and approval obtained from Authority
2) The promoter to come up with their own money to take up another 100M shares belonging to the yield investors.
3) Invite prospective investors to buy up another 100M shares from yield investors
4) With Vendor becoming Sona Shareholder and further financial commitment from the Promoter, I believe majority of the shareholders who voted NO during the EGM will change their mind. They will have more confident in the asset to be purchased and long term prospect of Sona.

We can generally categorize 3 types of Investors in Sona
Investors who only hold warrants :There is no doubt they like the QA to be approved in the forthcoming EGM so that they don't lose all the money invested. However they don't have voting rights.

Investors who hold equal amount of Sona and Sona Warrant. These investors generally like the QA to be approved so that their warrant positions are protected. The chances for them to make money is good if the asset is good and oil recovers going forward.

Investors who only hold Sona Shares. Theses investors know that once the QA is approved, their investments are no more guaranteed and the intrinsic value of their shares will drop immediately from about 48 sen to about 38 sen. At what price Sona shares will be traded immediately after approval is anybody's guess. Capital distribution will only come at a later stage after QA approved.

BOD/Management of Sona keep telling shareholders they are buying the asset at the bottom of the oil cycle and it is a good buy. But behind the back of the prudent Investors, they will wonder if the asset is good, the timing is good, why are the directors not buying the shares from the open market to support Sona and to instill confidence of the Investors in Sona.

If Sona shares are not traded above 48 sen before EGM it is going to be very challenging for the BOD to get the QA approved at the EGM.

I just did a simple calculation and correct me if I am wrong

Total Issued shares of Sona Petroluem 1,410M shares
Less Promoter Shares 282M
Total Shares eligible for voting 1,128M
25% shares 282M

Yield Investors (from announcement)
PAG 210M
Credit Suisse 180M
Total shares 390M

390M shares is far exceeding 282M shares that are required to block the QA deal .

so if PAG and CS are different entities and their answer is no to even capital refund, the whole deal is gone .

In order for the deal to go through, Sona shares must be traded above 48 sen before EGM to allow the yield investors to sell down

282M x 48 sen =RM135M

So far, the management has not bought any shares from the market to support the deal.( since there is no announcement.)

It makes me wonder whether the deal is really good for shareholders?

The last minute capital refund proposed is rather unfair to investors who had voted prior to EGM.
Maybe the Board of Directors will like to postpone the EGM so that all the investors have sufficient time to digest the latest proposal.

I consider the last minute announcement by Sona Management with regards to the capital refund as rather unfair to investors who have exercised their rights of voting prior to EGM.
In my opinion, in fairness to all, Sona should postpone EGM to give all the investors sufficient time to digest the latest proposal.
I hope the management can clarify the matter

IMO, Call warrant should not
be allowed to issue for penny stocks because it can be easily manipulated.
BJCORP CY will be matured in about 7 days time and exercise price is only 38 sen.That could be the reason why the price is coming down
Conversion Price for new call warrant BJCORP CZ is 37 sen with maturity in 245 days.
From my observation in the past, the holders of BJ CORP call warrants up to maturity always lose money.
Maybe let hope miracle will happen to BJCORP CY.

The call warrant exercise price for BJCORP CY and CZ are 38 Sen and 37 Sen respectively. Can somebody enlighten me whether we can find another call warrant of a counter in Bursa Malaysia with exercise price cheaper than 37 Sen.

Market goes up, BJCORP with good news just
announced two days ago coming down.
The counter really testing the investors patience.

Who is queuing to buy 200000 shares of BJCORP CZ at 3.5Sen at this market. Surprise

I read that the Board of Directors of AAX voluntarily waived the director fees during AGM.AAX as you all know incurred heavy losses.

I feel the members should be briefed by the Board their activities
after their failure to buy Salamander Asset.

Looking at the performance of its WA, it would appear NO QA yet or somebody quietly accumulate the WA at cheap price before announcement

Mari Beramai mai to attend AGM and hear what BOD have to say on QA?

BTW Sona W cannot be converted into mother shares unless there is QA.
In another 11 months no QA, all Warrant will disappear in thin air.
Scary.
Hope BOD do some thing for all shareholders.

I appeal to all Sona Shareholders to come forward and attend the AGM. Cliq already submitted QA for approval. When sona is going to submit QA for approval? Ask BOD about QA before we talk about directors fee.
Attend AGM to protect our investment

Time is running out for sona to acquire QA (about 12 months left?) By then Sona warrant will disappear in the air. I am going to attend AGM and ask BOD any QAs on the table?

Sona Warrants keep dropping indicating probably no QA acquisition is in sight. I think as shareholders, we should all go and attend the AGM and ask the BOD what have they done so far after they failed to buy Salamander Oil Asset.

I must clarify that I am not an expert. Since the exercise price for warrant is 75 sen which is higher than the current market price of the share, the warrant is currently out of money and no investor will convert the warrants into shares. Hence there will not be any impact on share price in short term. In longer term if the share shares are traded above 75 sen then there will be gradual increase of company shares in the market with the conversion of warrant and this will result in negative impact on EPS and putting pressure on its share price. However, with the conversion of warrants into shares, the company will receive additional working capital which can be used to pare down its debt which in return will have a positive impact on its earning.
Personally I feel the share price will not be affected in future with the conversion of warrant is the growth of company is intact.

All the resolutions at the EGM were passed unanimously.

Masteel must initiate share buy back now to calm the nerve of investors if there is nothing wrong with the fundamental of the company

I think it is high time for the Board of Directors to consider rewarding the shareholders with generous interim dividend after achieving such an outstanding third quarter result. With total earning to-date of about 22 sen per share, it is not too much to ask for just 2 sen interim dividend.
If they do that and also declare their future dividend payout policy, I believe BJ COrp will immediately catch the attention of serious investors.
As a shareholder, our income depend on the stock share price and dividend for a living.

FamJenny- where do get your cinnamon powder? I have read report only ceylon cinnamon is save for consumption with large quantity or on regular basis. Other type of cinnamon other than ceylon cinnamon is called cassia which contains ingredient termed coumarin which maybe harmful to our liver. The content of coumarin in ceylon cinnamon is minimum.

Agree with joesona