So what is the cause for this drastic fall? From what I understand some spooked the shares holders that they may not be able to remove the old directors and they are putting a resistance. As I see SC has been informed of the impending EGM and votes and proxies are collected. My take is you cannot stop the juggernaut from rolling on and the old directors might as well dump whatever shares they are holding. Looking at the 2 ought million shares traded, I think it is their last farewell. I say this Saturday you will see real action and within the week when the new directors are in, you can hope to see fireworks. Happy Trading! Can buy or not? I say buy if you have extra cash.
Why get excited over it now. Just relax let the EGM happen and please give some room for the new directors to come in. This take over is by no means a smooth one, I can say it is hostile with the old directors not wanting to give up. This Saturday we will see if they can be kicked out. Yes kick, the old directors have done nothing to the company until new people came in. If you cannot do anything please leave peacefully la. Understand the history of this counter and you will understand that these new boys means business. They are like the Roman when they conquer Britain, when they landed, the General ordered their ships to be burned. So it is a do or die mission. . .
EXTOL-Trading Halt LISTING'S CIRCULAR NO L/Q : 70379 OF 2014 Kindly be advised that the trading in the above Company's shares has been halted with effect from 11 57 a m , Friday, 25 April 2014 and will resume with effect from 2 30 p m , Friday, 25 April 2014 Your attention is drawn to the Company's announcement dated 25 April 2014 VICE PRESIDENT, ISSUERS
Supposedly these new Samaritans nak go in to clean up the company and inject new business model to grow the company. Heard the old directors ni refused to step down (maybe got a lot of hidings). Not sure why the court made such a decision. This shall delay the transformation process and will be a disaster to the company.
The way I see it this fight by the Old and new directors cannot last long, especially when it is a public listed company. There are no information to make a decision but to those who bought it at .27 and .28 you can exit the market first. Personally the stake of those who came in are too high to allow the old directors to stop the take over. If the shares fall to . 25 I will pick some more. I am with the new shareholders for the old shareholders have not done enough to lead this company. I hope Bursa can investigate and intervene in this matter. I will blog more as and when the information comes in. ,
Okay read Bursa site the 3 old directors got an Ex Parte Order , an injunction to stop the company from carrying out its AGM. The Exparte Order was obtained on the 23rd this month. This order is valid for 21 says and will automatically expires on the 13th May. What I anticipate is the Summons would have been served on the new directors and their lawyers would set it aside. What is the reason for the injunction is not revealed. But I suspect there may be allegations that they have breached the Merger and Take Over Code. Let's see what Bursa have to say for they are the authorities governing this. I feel it is only a temporary set back. In the meantime let the counter fall .
The whole order is reproduced . Look at announcement , it even named the judge and the order was taken on the 23rd of April . Look for it carefully la.
No not at all my hobby is to look at share counter and gather information and try and read the market . I am a small time investor hoping to make some money from the share market . This counter is a .10 sen counter for a long time . Shot up to .20ties and I am curious to know why? I blog my views to share and hope you chaps make money also. So all happy. Most time I am quite correct t but sometimes things do go wrong. Like this injunction taken by the old director did not see that coming.
Alamak nama saya Minah pun unik ka? Terimah kasih la. Kalo Minah tak karant acam nak jalan? Hey you chaps take note this is a Blog and not a gambling site. We should not buy on rumors okay. Whether you buy or you sell it is up to you but we do it on informed and available facts. I personally feel it is not right to say buy now because going up or sell now going to crash. I give my reason, sometimes also wrong. Since you ask the other Ace counter that caught my interest is Smartag. Why? this counter was sleeping at .9 .95 .10 for a very long long time , shot to .14 then went to .11. But that story we talk there la. Here we talk this counter la okay. Not asking you to buy or sell okay people? Happy trading. This counter we have to wait for them to set aside the injunction, in my opinion I do not see why they cannot do so.
kt99 steady la, do not worry, volume very small la. This litigation is a small set back. If there is a panic run and people are dumping , it will be in the millions, no one is dumping perhaps those speculators and contra players.
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....
ben1982
50 posts
Posted by ben1982 > 2014-04-22 15:22 | Report Abuse
hopefully :)