CSY 126,800,000 Dato 80,000,000 CPH 48,530,000 Conversion ICPS (Owner not revel) 55,000,000 Total 310,330,000 Total available open market for grab 326,688,225 to get board control
My dear friend,there won't come out and goreng for less than 1 month if no takeover as worst case scenario.If not Dato Neoh and Madam Chan would not come out invest.There can wait.Usually it will come up for at least 4 months(if plain sailing) once VC touch oversold level(0).
See who is the one who snap up the shares by 5.30 pm today.Its weird is that both convert the preference shares 15 cents and bought the preference shares.
It's add on to the no of shares starting tommorow.637 million for no of shares for VC.Dato Neoh 12 percent and Madam Chan 19 percent.The percentage based on nosh 637 millions.More interesting will be on Fri for Wednesday whose taking the lead.
If Dato wants to take Board control needs to acquire another 234 879,294 based on existing 90 000 000 as reported. Available on the market only about 300,000,000 Foresee there will be a scramble for VC-WB & VC PA in the near future for additional shares to convert to VC
Probably either Dato or old guard. If deduct today's 100m only left 200,000,000 available in the market Either party will be scrambling for those shares. Not much PA left for conversation. Can convert to only about 47m VC max
The ICPS may be converted into new Vortex Shares at the conversion price of RM0.15 ("Conversion Price") in the following manner:
(i) by surrendering for cancellation the ICPS with an aggregate issue price of the ICPS equivalent to the Conversion Price, subject to the conversion ratio of the ICPS at a minimum of 1 ICPS and up to a maximum of 3 ICPS ("Conversion Ratio"); and
(ii) by paying the difference between the aggregate issue price of ICPS surrendered and the Conversion Price, if any, in cash, for every 1 new Vortex Share.
In short, ICPS holder can either exchange one ordinary share with 3 PA or pay additional 10 cent and surrender 1 for 1.
1) Mdm Chan owning total of 347,745,403 ICPS consists of Kenanga Nominees (Tempatan) Sdn. Bhd.Pledged Securities Account For Chan Swee Ying 202,490,303 and Chan Swee Ying 145,255,100.
2) Prior to these all, she is one of the top 30 shareholder with 2,618,600 ordinary shares.
I believe she using second method by pump in 10M to convert the total of 100.5M ICPS to ordinary shares + existing 2.6M + some acquisition in open market to make it total holding of 128M ordinary shares now.
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....
mh87
3,966 posts
Posted by mh87 > 2020-04-08 15:38 | Report Abuse
Looks like big players are buying and selling among them at 0.07