Two penny stocks currently on shares consolidation list
1. KANGER INTERNATIONAL BERHAD 2. METRONIC GLOBAL BERHAD
BLee: Hi @whistlebower99, I think you posted in the wrong forum as both companies have nothing related to Fintec to my knowledge..
- Fintec did not announce any share consolidation. Anyway, share consolidation will not dilute any NTA as reduce in NOSH will increase in NTA proportionally..no issue.
- Fintec and some invested counters such as NETX at present on an uptrend and on the growth path; don't see the reason for consolidation.. Fintec price 52W low of 0.5sen vs this morning trading (top volume) of around 1.5sen, around 200% increase. NETX price 52W low of 7sen vs this morning trading of around 15.5sen, around 121% increase.
Back to basic, just today as at now at 100% gain from 1sen to 2sen. What will be today closing with so much volume? Interesting to watch. Not a buy, hold or sell recommendation, Trade At Your Own Risk..
lot retailers thought this group of shares will go high like previously.....dont dream cause they wont gv you earn and cash out so easily they just want to get more cash for cny ...:)
No way Fintec can go for share consolidation as there are huge warrants and preference shares to adjust together. If Fintec goes for consolidation, their warrants will be automatically revised to WA RM1.90, WB will be RM1.00 and WC will be RM0.80 if Fintec consolidates 1 for 10, which is irrational and impossible.
Preference Shares maturing price is set at 11 sen. So if taking pref shares together, their maturity price must also be adjusted to RM1.10 a share if Fintec goes for 1:10 consolidation. Do you think consolidation is still possible?
Taking the above reasons that share consolidation is impossible, as such buying into Fintec at the price now of 1.5 sen is the best decision one can ever make. Opportunity like this is rare. But buy at your own risk too as Fintec is still very fond of issuing Private Placement to increase their capital inflow.
Fyi, today I add 3 million Fintec shares at 1.5sen into my portfolio. I will keep it for long term. To all investors, buy at your own risk. No risk no gain also. Buy all these low cost houses at 1.5 sen and sell when they have prices have reached 10 sen in the future. I truly believe Fintec can easily make it to 10 sen when KLCI improves. Happy investing, everybody. Do not worry now the price is the lowest because KLCI is so down now.
If you take a look at the history of Netx, before Netx did their consolidation 1 for 25, they do not have any warrants outstanding as at the date of consolidation in Sept 2020. Only after the consolidation, they issued their next warrants C in Nov 2020. Their warrants A and B were long expired when Netx did their consolidation exercise in Sept 2020.
I also top up more. February approaching.. glove factory will be ready soon. Btw, the factory is near completion ya. Can go and check at their site in Chemor, Perak!
@Ding HL Allan: Preference Shares maturing price is set at 11 sen. So if taking pref shares together, their maturity price must also be adjusted to RM1.10 a share if Fintec goes for 1:10 consolidation. Do you think consolidation is still possible?
11/01/2022 10:24 AM
BLee: Hi @Ding HL Allan, I agreed with you that unlikely Fintec will go for consolidation as reduce NOSH will not have any beneficial effects for any future fundraising..??
On conversion/maturity of ICPS, it is not so straigth forward as just multiply by the consolidation ratio as preference shares are just like "prepaid", Fintec-PA carrying a value of 8sen and needs another 3sen to convert to 1 mother share. Upon maturity, 11 Fintec-PA will auto convert to 8 mother shares. Any changes by any exercises, below link show a very complicated formula for the adjustment..
Agree with you, BLee. Conversion for Preference Shares to Mother Shares are not so straight forward, Anyhow, with Fintec Pref Shares existence, the proposal of any Fintec Consolidation is now difficult. So obvious still, Fintec has to deal not only with the existing Pref Shares but with 3 other Warrants ( i.e. WA,WB & WC) outstanding.
2014 -right issue, 2017 Jun -consolidate , 2017 Oct -right issue !!! , 2020 - right issue again. Wah sudah banyak hisap !!!!! JAN 2022 -counter price tinggal 1 cent !!!!! Don't know apa cerita 2022
Last ESOS 68,000,000 @ 0.01 . very soon will be dump to market when payment due . Now probably positioning a ultra large huge Iceberg on 0.015, show only the tip to make it attractive
This is a ESOS printing company la, print the ticket and dump it to market; from price 11sen to 1sen, NOSH from 706m to 5,800m! ESOS can made Huge of profit for BOD la
When Fintec issues ESOS or PP, the company gains a little due to more capital inflow to the company but we feel very unfair to the current shareholders who have to share their old current capital reserves with the new ESOS or PP holders thus reduces the Net Worth Per share of the old shareholders. I understand that Company issuing ESOS or PP has to follow the price of the latest current 5 days average of the market prices of the listed shares. If the current market condition is bad, issuance of these ESOS and PP surely depresses the market prices of their own shares further. Thats why our Fintec prices keep falling from 11 sen to the current 1 sen over the period of all these issuances. Are issuance of these ESOS and PP our company's commitments or private promises that we must keep issuing them? If yes, why such issuances or offers to the ESOS or PP investors and their names are never mentioned for us to see as we are their current shareholders. I cannot see in anywhere in Fintec books or records that who and who are their new ESOS or PP shareholders. ESOS means Employees Share Option Scheme but I can never see who and who bought in the new ESOS offers all these while. WHY so secret about this. Some more no one directors are involved in any of Fintec's ESOS. HOW WEIRD? So far, NO DIRECTORS are holding any major shares in the Fintec Group after so many ESOS exercises. ANOTHER WEIRD OCCURANCE? I hope Fintec be transparent and let us know who buys into such ESOS or PP schemes so far. ANOTHER WEIRD MOMENT is there are more than 500 millions willing BUYERS in the OPEN MARKET for the period for 1 sen Fintec shares BUT WHY, Fintec still needed to offer 1 sen ESOS shares to the latest batch to their new ESOS investors amounting to 20 millions only on the 13/1/2022 where there are 500 millions shareholders waiting willing bidders waited to buy at 1 sen in the Open Market. SO WEIRD !!!!!!!?????
Already half day gone. Volume on 124,600 @0.015???? tak sampai RM2000?? Stop buying la.. If not how to make them throw the ESOS at 0.01 or better 0.005
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....
Sales
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Posted by Sales > 2022-01-03 14:56 | Report Abuse
You guys remember Maxwell or not? Just disappeared.