The VC-PR are irredeemable convertible preference shares. They are issued at 0.05 per share. Within the 5 years period you may convert them into mother shares. Conversion price is 0.15. When you want to convert, you can surrender 3 Vc PR shares (0.05x 3. = 0.15) to get 1 mother share or pay the difference between conversion price of 0.15 and issued price of surrendered VC PR shares (issued price of one VC PR share is 0.05) for 1 mother share. If you hold VC PR and at the end of the 5 years you didn't exercise your option to convert them into mother share, then it will be automatically converted into mother shares for you at the ratio of 3 VC PR shares to 1 VC mother share
What a detailed explanation Vsctan7! Btw I heard that the warrant is going to released soon right? If it is true, mother share surely will get some spicy cooking..haha
14-May-2019 Insider Notice of new substantial holder - MR GOH EUGENE on 14-May-2019. 14-May-2019 Insider Notice of new substantial holder - PENTAGON PARADE SDN BHD on 14-May-2019. 14-May-2019 Insider MR GOH EUGENE (a company director) was dealing with company shares on 14-May-2019. 14-May-2019 Insider MR GOH EUGENE (a company director) was dealing with company shares on 14-May-2019. 14-May-2019 Insider MR GOH EUGENE (a company director) acquired 10,965,600 shares on 14-May-2019.
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....
Vsctan7
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Posted by Vsctan7 > 2019-05-01 21:05 | Report Abuse
The VC-PR are irredeemable convertible preference shares. They are issued at 0.05 per share. Within the 5 years period you may convert them into mother shares. Conversion price is 0.15. When you want to convert, you can surrender 3 Vc PR shares (0.05x 3. = 0.15) to get 1 mother share or pay the difference between conversion price of 0.15 and issued price of surrendered VC PR shares (issued price of one VC PR share is 0.05) for 1 mother share. If you hold VC PR and at the end of the 5 years you didn't exercise your option to convert them into mother share, then it will be automatically converted into mother shares for you at the ratio of 3 VC PR shares to 1 VC mother share