https://www.klsescreener.com/v2/news/view/1393055 Meanwhile, MQ Technology Bhd (KL:MQTECH) saw its executive director Terence Cheah Eu Lee dispose of more shares in the ACE Market-listed company. Cheah has sold a total of 25.5 million shares on the open market since May, the latest transaction being 7.5 million shares on Aug 28. This leaves him with a 0.96% stake, or 15.69 million shares, compared with 3.03% before.
MQ Technology produces moulds, tools, dies, jigs and fixtures used in the manufacturing of hard disk drives. The company narrowed its net loss to RM4.29 million for the nine months ended June 30, 2024, from a loss of RM8.47 million a year earlier. In July, it changed its financial year end to Feb 28 from Sept 30.
CONSOLIDATION OF EVERY 10 EXISTING SHARES IN MQ TECHNOLOGY BERHAD ("MQ TECH" OR "COMPANY") ("MQ TECH SHARE(S)" OR "SHARE(S)") INTO 1 MQ TECH SHARE ("CONSOLIDATED SHARE(S)") ("SHARE CONSOLIDATION")
============== Take note of share consolidation ex-date whereby your shareholding will be reduced by 10 times
Current NOSH = 1,635,549,531 will be reduced to 163,554,953
After completion of share consolidation exercise, directors will restart fund raising again via massive shares issuance to PP, ESOS, RI or asset acquisition
Retail shareholders holding at high prices will certainly incur huge losses due to the share consolidation
Hello...supposed to be 0.15 as before consolidate is 0.015 x 10. So no big deal if 0.125. Too slow instead as one of the directors opt out before consolidate
what @Vicky mentioned is correct. Suppose after consolidation, they price must be 15c and not 12c. Let's see in coming days, whether the price will be pushed above 20c or not.... Not very high hope but better than nothing la....
After share consolidation ex date on 23 Sep 2024, NOSH reduced from 1,635,549,531 to 163,554,653
Retail shareholders bought at high prices (before share consolidation) incurred huge losses due to directors action.
Next step is for directors to restart fund raising activities again via massive shares issuance to PP, ESOS, RI or asset acquisition.
If directors cannot bring in profits from business operations, more fund raising will be carried out via massive shares issuance
Eventually, NOSH will exceed 1 BILLION shares again.
================== Continue to monitor quarterly results directors plan for utilisation of company funds directors plan for more fund raising via shares issuance to PP, ESOS, RI , asset acquisition
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....
whistlebower99
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Posted by whistlebower99 > 2024-08-20 10:01 | Report Abuse
FOR NEWBIES
Changes in Director's Interest (Section 219 of CA 2016)
MQ TECHNOLOGY BERHAD
Particulars of Director
Name MR TERENCE CHEAH EU LEE
Directors continue to dispose
https://www.klsescreener.com/v2/announcements/view/7679817
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3474457
=================
Share consolidation and fund raising via bond issuance coming soon !!!