dont forget idiot, if the ong want to play you, if he want to force acquire 90%, do you think he not able to do it? he will not likely to increase price to pay u for fuckling warrant. he is host, do you think a host will lose money from the game? the company is belong to his wife, once he want to pull down price is anytime job. once u pull down, do u think u will cut loss?
Intitially I planned to hold out for a fair and reasonable offer from OSK. Judging from the current market conditions, I intend to fill up the form to sell to OSK at RM1.56 for cash. Today OSK dropped to RM1.60. For those still have confidence in the restructured OSK, it is now the chance to swap almost 1 to 1 from PJD to OSK instead of the 5 to 4 share swap option offerred. I intend to keep my warrant, similar to the recommendation of independent adviser.
As small investors, we often find ourselves at the unfair receiving end of the actions carried out by controlling shareholder or managing/executive directors.
For the case of PJD, I would like to alert fellow minority shareholders of several share transactions (share purchases from open market) by controlling shareholder/directors some days before the public announcement of two pieces of price-sensitive and non-public information: (1) the disposal of a commercial/office property, the Menara PJD for RM 220 million – Busar announcement dated 31 December 2013, and (2) the disposal of a piece of land for RM186,043,888 – Busar announcement dated 20 January 2015
Please refer to relevant announcements of share purchases in Busar website under PJD:
The share price of PJD shot up from RM 1.23 on 12/12/2013 to a height of RM2.24 on 18/08/2014.
Could there be an offence committed when director/controlling shareholder purchased shares from the open market while in possession of price-sensitive and non-public information that was expected to have a material effect on the price and value of the share? Was there a violation of Section 188(2) of the Capital Markets and Services Act 2007?
Hopefully, those in this forum who are more familiar with listing rules and regulations can enlightening us whether such transactions were permitted? If not, shouldn’t the relevant authority, the Securities Commission Malaysia, be alerted to look into the case?
PJD will remain listed because the public shareholding spread is still about 28%.
A counter may be delisted when the public shareholding spread falls below 10%.
OSK Property is most likely to be delisted according to the following extract of recent announcement:
"The Board of Directors of OSK Property wishes to announce that based on the Record of Depositors and number of shares accepted under the Offer as at 4 September 2015, the public shareholding spread of OSK Property is 5.92%.
As the public shareholding spread of OSK Property is less than 10% of the total OSK Property Shares in issue (excluding treasury shares), pursuant to Paragraph 16.02(2) of Main Market Listing Requirements of Bursa Malaysia Securities Berhad ("Bursa Securities") ("Listing Requirements"), Bursa Securities shall suspend the trading of the securities of OSK Property immediately upon the expiry of 30 market days from the date of this announcement. The suspension will be effected on 22 October 2015, being the market day immediately following the expiry of 30 market days from the date of this announcement."
PJD is obviously an undervalued counter that are abused by OLH! He is playing time game to rush out impatient investors and keep acquiring shares in open market. This offer has been dragged for more than a year! Keep postpone and postpone! That's his plan!
Finally...all is over now....public shareholding spreading 10.62%. Maintain listing and will pursue to work to increase public shareholding. So how to increase public shareholding????? Declare RM1 dividend lah or 1:1 bonus shares....and everyone will rush to buy....lol!
"As stated in Section 4 of the Offer Document dated 10 August 2015, the Offeror intends to maintain the listing status of PJD and as such, will explore various options or proposals to rectify the shortfall in the public shareholding spread of PJD.
The Company will make the requisite announcements in due course in relation to the status of its efforts to comply with the public shareholding spread requirement in compliance with the Main Market Listing Requirements"
Judging from the announcement quoted by imoogi99, the Offeror (OSK) intends to maintain the listing status of PJD and will make efforts to rectify the shortfall in the public shareholding spread of PJD.
One possibility, I think, could be for OSK to sell more than 15% PJD share already in its hands to a 3rd party. A candidate could well be Agile, the Chinese partner PJD is working with to develop the RM1.2 Billion Mont Kiara project. The new partner will also bring in needed resources to develop the huge Melbourne project. If this so, I am positive of PJD.
Interesting to note the STAR one-line headline article "OSK fails to take over PJD".
An easy way out really is for OSK to make a better offer to the remaining 10.62% shares and warrants. I don't mind to sell all I am still holding so long as the offer is fair & reasonable.
In the first place OSK had no intention to take over PJD or privatise it...they already own 31% and they just want another 35% or so. So listing will continue unless the public shareholding spread cannot be achieved. If their intention to completely take over, they could easily buy from the market at 1.54/1.56.
look at KSL better NTA, better EPS, better recurring profits, now better dividen but still cheaper than PJD. Most property counter down, only way to make it is by OLH strategy property,construction and finance group up, then can have higher rating.
guys, dont panic, your investment money in PJDEV wont gone. 2 options available for them only: - 1) they will privatise it, and give another offer to acquire all the remaining share 2) pjdev remain listed, they will release some plan to make public share above 25%, private placement? or sell share back to public?
just hold on and see...should be good news, those who sold earlier will regret. :D
no worries la..they will find some ways to make it retain listing status. even if it delisted, the company is still there, you can just contact them personally, and you can still sell your share privately to them..just cannot sell it public only..you still own the share.... KLSE Bursa is just a platform to let you trade public, after delisted, the company is still there, the shareholder still own the company share...please understand it...KLSE Bursa is not a place for gamble, is for invest!
Meaning any time from now till 6/3/16 to comply with the public shareholding spread requirement?? Which also means this stock can be goreng anytime from now??
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....
Sharenoob
23 posts
Posted by Sharenoob > 2015-08-21 21:43 | Report Abuse
the offer is now unconditional as OSKH and gang have obtained more than 50% of PJD share as of today
http://www.bursamalaysia.com/market/listed-companies/company-announcements/4837469