In the event, say DR Chen and his PAC (FACB) fail to hold > 90%
of the issued & paid-up capital in KCB

May i share with you the following bursa listing requirements:

CONTINUING LISTING CRITERIA
8.02 Compliance with shareholding or unit holding spread requirement

(1) A listed issuer must ensure that at least 25% of its
total listed shares (excluding treasury shares) or listed
units are in the hands of public shareholders or unit holders.
The Exchange may accept a percentage lower than 25% of
the total number of listed shares (excluding treasury
shares) or listed units if it is satisfied that such
lower percentage is sufficient for a liquid market in such
shares or units.


16.06 Request for withdrawal

(1) A listed issuer may not request to withdraw its listing
from the Official List, unless -

(a)the listed issuer convenes a general meeting to obtain its
shareholder or unit holder approval and a separate meeting
for the approval of the holders of any other class of listed
securities, if applicable
(b)the resolution for the withdrawal of its listing is
approved by a majority in number representing three
fourths in value of the shareholders or unit holders and
holders of any other class of listed securities, if applicable,
present and voting either in person or by proxy at the
meetings and provided that such shareholders or unit
holders and holders of any other class of listed securities
who object to the withdrawal is not more than 10% of the
value of the shareholders or unit holders and holders
of any other class of listed securities present and
voting either in person or by proxy. Where the
constituent document of the listed issuer imposes a stricter
condition in respect of the votes required to approve the
withdrawal of listing, such stricter condition will apply in
substitution of the foregoing provision;
(c) the shareholders or unit holders and holders of any other class
of listed securities, if applicable, are offered a
reasonable cash alternative or other reasonable
alternative (“exit offer”); and
(d) the listed issuer appoints an independent adviser,
which meets the approval of the independent directors, to
advise and make recommendations for the consideration of
the shareholders or unit holders and holders of any other class
of listed securities, if applicable, in connection with the
withdrawal of its listing as well as the fairness and
reasonableness of the exit offer.

Under the above scenario, based on my understanding:-

(1) Bursa may let KCB to maintain its listing status
(2) DR Chen/PAC may fail to obtain majority in number of members in EGM
(3) Exit offer usually will not be lower than 5 cents per share
(3) Last resort, minority shareholders can take up exit offer

Warrenlim, it will be informative to read Pages 38 & 39 of Independent Advice circular released this morning at Bursa web-site.

take note: new share converted from OR will not get 5 cents dividend
ex: 8 June

Unconditional take-over offer document now issued

The Question
Will the company sell its 5.87% shareholdings in Karambunai to Tan Sri Dr. Chen for 16.9M ??

If yes, based on 2 qtr report (31/12/15), pending release of 3 qtr report by end of this month
and after taking into net disposal gain of 1.7M (16.9 - 15.2),
total assets : 236M ; total cash: 170M (72%)

Will Dr Chen let the company to trigger PN16 ???
If NO, any potential dividend for shareholders ??

Just for your opinion

1st batch of additional listing of shares converted from pa - 1,622,000 to be listed 2moro (4/5/16). Their costs probably below 0.6

SGB is tightly held by less than 100 shareholders holding > 90% of paid-up capital and would have been probably cornered by syndicate prior to the listing of preference shares & warrants. The shares have been pumped from 0.69 to 1.23 since listing date on 19 April. As conversion period only takes 8 trading days, additional SGB shares arising from conversion of pa to be listed anytime from now.
Dumping may begin soon. How low will pa be dragged down ??

Be cautioned.

Friendly Remainder to ALL Sona shareholders who intend to VOTE AGAINST
QA(Qualifying Acquisition) on the forthcoming EGM on 30.03.2016.

1. Take note of procedures & requirements stated on pages 47 to 49 of
the circular to shareholders dated 08.03.2016

2. Read and understand conditions stipulated in the REQUEST FORM
(Share repurchase option by dissenting shareholders)

3. REQUEST FORM makes reference to only relevant shares standing to
the credit of CDS A/C as at the RECORD DATE

RECORD DATE - the date specified for the Record of Depositors used
for verifying shareholders' rights to attend and vote
at the EGM to be held on 30.03.2016

i.e. 23 MARCH 2016

To my understanding, only shares of free status [at least T + 3] held
in CDS A/C as at 23.03.2016 can be sold back to the Company

Directors' integrity is highly questionable. They try to change the rule of game mid-way. A big thank to SC to reject them.

Based on my understanding,

1 old share = RM 0.495 + 1 new share
1 new share offer price = RM 0.63 under MGO
Proposed public issue, 1 new share issued at RM 0.63

may not worth current price at RM 1.45 per share, just my view

Warrants can only be converted to share upon completion of QA (qualifying acquisition). So if QA can't be completed within the stipulated 3 years period from listing date (30/7/13) on or before 30/7/16, warrants is as good as toilet papers by then

Really unexpected, SPA becomes unconditional on last day of CP period, cny angpow is coming

3rdQR - consolidated income statement refers, can any sifu kindly enlighten us on the following savor item:-

- Foreign Exchange gain on amounts due from
associates and jointly controlled entities 439,858 K
t.q.v.m.

From my understating, normal warrant exercise form indicates that warrant status at time of conversion shall be at least T+3

ya i think unrealised forex exchange loss alone can take the cut

omg will it be worst than mid dec. 2013 occurrence?

bursa news at 1:09 pm, privatization denied

chei yau chi lei mak doi mo sai

Any sifu here, can advise what is the net tangible asset per share after the special dividend/dividend in specie ? thanks

beware, can it be the same trap as pesona-wc?

Friends, be cautious, easy monies look "easy" to get but also "easy" to lose. Don't forget high gain high risk. all the best

warrant look "good" 2 buy at a discount, but my sense tell me it is a trap .

Beware!! mother share rose from 30-40 cents just about 6 months ago. After taking into a/c the free warrant, major shareholders are harvesting cny angpow now.

calvintaneng, a like for your remarks

gweilo, l like your analysis; u r sharp & excellent

so, to avoid huge loss, warrant holder make sure to convert your warrant to mother share in time b4 entitlement date. Do check with share registrar last date for submission of exercise form. Just a friendly reminder

hai tjhld pl refer prospectus principal terms of iculs
Question 1 - conversion price @ RM 0.68 already taken into a/c share split, right issue with warrants and BONUS SHARE, pg 16 notation 1
so, adjust. factor 5/6 does not apply

Question 2 subscription of iculs-rights will be given iculs on issue date (within 8 mkt days after payment date 30/9) possibly between 1/10 to 10/10. Earliest conversion of mother share can only be done within 8 mkt days after issue date (not in time for ex-bonus date, 10/10) - pg 11/16

Ref Bursa annoucement on bonus issue dd 12/9, one can sell bonus share on or after x-date. 10/10 onwards

Correct me , i may be wrong, tq - new babe