MyEG owns a 10% stake in S5 Holdings. S5 security system is part of the National Integrated Immigration System (NIIS) of every bidders. So, whoever wins the contract, S5 wins and so is MyEg. No wonder TS Wong keeps mopping up more shares in MyEG of late.
If tomorrow close red... there will be nothing special on Wednesday during AGM. But it tomorrow have momentum price... Something good news or forecast for IRIS in future
Today closing not Good although support may (S2) still at 0.30. 23rd AGM days just pray directors can address sensitive questions from reporters smartly otherwise difficult to sustain with current trend.
Controlling shareholder TS Wong mops up more shares in MyEG TheEdge Sat, Sep 19, 2020 05:38pm - 2 hours ago
KUALA LUMPUR (Sept 19): Wong Thean Soon, better known as TS Wong, bought an additional 1.31 million shares in MyEG Services Bhd yesterday, according to the company’s filing with Bursa Malaysia.
He bought the block of shares at RM1.405 per share.
Wong is the single largest shareholder of the e-government service provider, with a 31.43% stake, including an indirect 20.87% held via Asia Internet Holdings Sdn Bhd.
Wong has been quite actively accumulating MyEG shares recently, both directly as well as through his investment vehicle Asia Internet. MyEG’s bourse filings show that Wong bought about 5.3 million shares in August, while Asia Internet mopped up five million more.
MyEG's share price has rebounded 73.7% from a trough in mid-March, closing at RM1.39 yesterday. Year to date, the stock has gained 26.4% from RM1.10 at end-2019.
Meanwhile, the company is also conducting share buy-back as well as cancellation of shares. In July, MyEG cancelled 12.5 million shares. Currently, MyEG has 142.18 million shares retained in treasury — equivalent to a stake of about 3.97%.
The company is now in the midst of a major corporate exercise that entails a reverse takeover of Ancom Logistics Bhd (ALB), another listed entity.
In mid-June, MyEG’s wholly-owned MyEG Capital Sdn Bhd bought a 10% stake in Labuan-based S5 Holdings Inc for RM90 million from Merrington Assets Ltd. The purchase consideration will be settled via a combination of RM75 million cash and the issuance of new shares worth RM15 million.
S5 is mainly involved in provision of security technology, intellectual property as well as development and customisation of solutions and systems. It is said to be a company to watch out for in the immigration technology space.
Around mid-July, it was announced that S5 was seeking a back-door listing via ALB.
ALB announced a proposal to take over S5 from S7 Holdings Sdn Bhd, Merrington Assets, MyEG Capital and Avocat Sdn Bhd at a price to be determined after an independent valuation is done. The acquisition will be settled via the issuance of ALB shares.
On completion of the reverse takeover, MyEG Capital is expected to be a substantial shareholder of ALB.
At the close in NYSE, the Dow Jones Industrial Average declined 1.84% to hit a new 1-month low, while the S&P 500 index fell 1.16%, and the NASDAQ Composite index lost 0.13%.
MMAG-WB 0.365 conversion 1 for 1 at 0.20 expiry 27-11-2022 Now MMAG price at RM 1.92 - conversion at 0.20 = RM 1.72 That mean MMAG WB should be RM 1.72 instead of 0.365 now
Tyco MMAG-WB 0.365 conversion 1 for 1 at 0.20 expiry 27-11-2022 Now MMAG price at RM 1.92 - conversion at 0.20 = RM 1.72 That mean MMAG WB should be RM 1.72 instead of 0.365 now 22/09/2020 11:15 AM
---------------------- Why promoting this counter here Tyco which shown a limit up and limit down in a day today... hahaha
Come to think about it. Current government is very weak (Only one vote different) thinking whether NIIS still on or it already change to something else! I start to doubt.
Best day to cut lost was yesterday before 11am but all this now is history.
Today trade all seen pure retailer just pray that price can still hold above RM0.31 and will reconsider if sharp dive close to RM0.20.
Today agm resolution is to enable company to issue shares for PP without agm/egm. This means until now, PP cannot be done yet unless got shareholders agreement, even though Bursa gave approval already. After today passing of resolution, prices sure shoot, cos anytime can raise funds based on average prices of the day.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
ThePowerOfGlove
3,963 posts
Posted by ThePowerOfGlove > 2020-09-20 06:37 | Report Abuse
Excellent