For example, if Mr X owns or purchases 1000 STERPRO shares (of RM0.025 par value each) on cum basis on 3 February 2017, his CDS account would still show 1000 STERPRO shares (of RM0.025 par value each) until 8 February 2017. However, as a result of the above Share Consolidation exercise, Mr X’s 1000 STERPRO shares of RM0.025 each in his CDS account will be adjusted to 250 STERPRO shares of RM0.10 each on the night of 8 February 2017 which is the Book Closing Date. Therefore Mr X may, if he so wishes, sells only up to 250 STERPRO shares of RM0.10 each on or after the Ex-date i.e. from 6 February 2017 onwards.
Participating Organisations are hereby requested to caution all dealers and remisiers that, during the period from 6 February 2017 until 8 February 2017, they are only entitled to sell the maximum of 25% of the shares owned before the Ex-date. Participants Organisations are reminded that it is important to caution all dealers and remisiers on the above to prevent the dealers and remisiers from overselling of their client’s position.
I asked my remisier, he said the price consolidated already, the amount of shares however will only be updated on the 8th February. That's why only a certain amount is allowed to be sold. As for why the price is shooting up after the consolidated price of 0.12, I have no idea. Even got off market transaction of 10 million units at RM0.2 .
Yes, fully agree with Ultrainvestor. The lot was sold to a new investor to take up a role in the company. In fact the new investor wanted more but was declined by CEO. Expecting the new investor to pick more in the open market
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....
Ultrainvestor
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Posted by Ultrainvestor > 2017-02-06 17:01 | Report Abuse
Some friends just told me, there were huge off market transactions at 0.2 today.