theEdgeWeekly....Tanco is the most undervalued property stocks......having the lowest price/nav @0.19...(price.=0.09 / net asset per share 0.46=0.19)....& low prices make property stocks prime M&A targets.
The Company wishes to announce that it has been informed by Kenanga IB vide its letter dated 18 July 2016 that Kenanga IB has received Bursa Malaysia Securities Berhad’s query pertaining to the proposed amendment to the conversion price of the ICULS. Pursuant thereto and the strong advice in respect thereof given by Kenanga IB to the Board, the Company wishes to announce that the conversion price of the ICULS as disclosed in Clause 1 of the Trust Deed in Appendix I of the Circular is not to be amended.
Tanco want to issue notes worth 2bil shares for only 100mil with par value 0.05, and the EGM is 26th July, I personally thankful for Bursa to block them from revising the ICULS, at least the Bursa team is working on making sure malaysia market is good for minority shareholders. Hoola!! But I think bursa only need to block them from issuing the notes.
So now imagine 350 acres of land worth how much? Minimum value of RM875mil!!!!! Now they also embarking on 5bil GDV, with estimation profit of 30 percent, equal to 1.5 bil profit. These Exclude the 170 acre of land in Terengganu and Pahang. This value the company at myr2.50 or if we look at retain profit, it will worth about MYR5.00
Now they trying to use this Issue of note to dilute us, the tan family and the fund is link as the fund is acting as a Proxy according to sources. Guess how much the fund charge for the fees of 100mil notes? It is whooping 7.5mil. we should block them from going through the EGM since they only have 27 percent shares. If we can gather 30 percent to 40 percent vote to vote against them, invite good manager to run this company long term, then u have next ecoworld in making!!
Ok if worst come to worst they able to go through this EGM, the share will still worth 0.37 cents (875mil/2.3bil shares)
.It start to drop from 0.13 to 0.07-8 when they announce the stupid ICULS conversion + this 100mil notes. Directors are not perforrming, who know the main purpose is to make the company lost money so that minor shareholders sell the share and they collect, else why they even bother looking for ICULS revise from 2 to 1, why bother issue notes 100mil, intention can be seen, 司馬昭之心,路人皆知
Tanco Holdings Berhad presently at RM0.07 per share is ripe for a hostile takeover or substantial shareholders to enter and check balance the major shareholders.
be careful with the big shark, Advance Opportunities Fund. They are going to subscribe RM100m worth of MTNs in the next 3 years, convertible into Tanco shares and they will dump in the market (because they can't hold more than 10% at any time). Compared to their today's market cap around RM30m...
and they can afford to dump because the conversion price is at 20% discount to tanco market price at any time they wish to convert. Tanco really desperate for cash to get into this kind of lopsided deal
read it carefully, they intend to maintain the listing status.
it's just a mandatory takeover, they don't want to buy your shares, maybe that's why they time their announcement to push up the price so that nobody will accept their offer
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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....
kllady_fidah
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Posted by kllady_fidah > 2015-08-27 15:44 | Report Abuse
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