Okay like I say new boys not fully in yet, but lets look closer at this counter. Total shares I think is about 126 million . By comparison it has a small base . Looking at the history there are records that the Malay directors applied to do right issues at 1:4 shares but this was not carried out maybe no money . Put yourself in the new boys shoes, what will you do ? I feel they will do a right issue of 1:2 or 1:3 depending and maybe issue warrants. Of course this will drive the price down but to the share holders , this loss can be off set by the free warrants. NOW when the base is big and the projects are all lined up to make this into a super company. The show will then begin , the price ? Definitely .50 and above. Those company buying those block of shares to take over EXTOL you think it is for free ka? Surely they want some returns right.. The question to all of us is how high can it go and no one can really answer that.
This is the announcement calling for an EGM to remove the remaining two old directors in Extol, The EGM is on the 26th April. In my opinion if the motion is carried out, the new people will effectively be taking over the company. In my opinion, this will be the cause to push this counter higher. Technically speaking there is no reason for a surge in price , but if there is a surge it only shows the confidence people have in this counter and the new directors. Thereafter I am sure there will be new directions in the company and my take is you will say farewell to the thirties and welcome the Forties.
If you were to look at the 2 week pattern of this counter, it has not fallen below .30. I am not going to ask you to go in , but if indeed you choose to go in, I suppose .30 would be about the lowest you can get. I have my doubts if you can get anything below .30. Good luck and happy trading.
The way I see it the sudden upsurge of the price started when Swift announced they hold a substantial stake on this counter . At the AGM 2 main directors were removed leaving two more. Look at the share value then before the AGM .22 to .25 . Thereafter the price went up and rested at .30 . Why ? Nothing changes so far but people are confident the new boys coming in are going to turn the company around. Next Saturday at the EGM they are asking the immediate removal on the remaing 2 directors. Hopefully if the motion is carried the new people will have absolute control of the company. By looking at trend I am confident the counter will shoot to the .40ties probably touching the fifties even within the week . What little information I have this counter is an interesting counter to me. I think those who purchase at the .30 will see their returns after the EGM. That is my prediction. How far can this counter go? I will tell you after the new boys come in and we study their directions.
Well said minah. I too think that the show is starting after EGM. I'm just waiting for the last week of Apr to come. The current directors are disposing their shares which means that they themselves know that highly likely they will be removed. Therefore, we can say goodbye to .30ties next week.
You have predicting correctly Minahkarant. They are holding the EGM at Ritz Carlton and not at the office premises. Smart move because at the AGM, all the employees turned up as it was held in the office itself and there was no place to sit for genuine shareholders. I hope all shareholders will come for the EGM and ensure the new directors get elected. It is surprisingly on a Saturday so please come . Once the new boys come in, your investment in Extol will see the light. Only thing get ready for a long EGM as the AGM itself went for 2 hours and 20 minutes.
I read in one of the old reports that they have the license to lay undersea communication cables. I believe they are the only company in Malaysia to carry out such activities. However I stand corrected if there are other companies now doing this job. As to the common personalities lets get the new boys come in first and then you will be able to see clearly. To say now when they have not come in is irresponsible.
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....
minahkarant
363 posts
Posted by minahkarant > 2014-04-14 15:57 | Report Abuse
Okay like I say new boys not fully in yet, but lets look closer at this counter. Total shares I think is about 126 million . By comparison it has a small base . Looking at the history there are records that the Malay directors applied to do right issues at 1:4 shares but this was not carried out maybe no money . Put yourself in the new boys shoes, what will you do ? I feel they will do a right issue of 1:2 or 1:3 depending and maybe issue warrants. Of course this will drive the price down but to the share holders , this loss can be off set by the free warrants. NOW when the base is big and the projects are all lined up to make this into a super company. The show will then begin , the price ? Definitely .50 and above. Those company buying those block of shares to take over EXTOL you think it is for free ka? Surely they want some returns right.. The question to all of us is how high can it go and no one can really answer that.