The issue of the breeders that carried virus not the main issue, main factor of price drop due to investor can not get the return from the right issue 6 yaers ago,now BOD continue request money from minority share holder.How BOD convience us? please tell us? otherwise,the history of Sapura Energy on last friday wil repead instead,who know?
If making loss in flour segment at Indonesia due to forex ...the management can temporarily cut production in flour section to reduce losses...just my opinion
so bad result. current 2017 Cash and cash equivalents 199,555,000 257,768,000 Trade and other receivables, including derivatives 404,694,000 373,132,000 Inventories 510,078,000 493,018,000 Loans and borrowings 127,244,000 76,194,000 Loans and borrowings 1,056,091,000 883,121,000 how to continue support this company at RM1. Now my TP 0.89 by Dec2018
1 thing is very sure,poultry will continue incurred loss due to this industry is not their profession,when he continue dump money to this section.finally u wil see the result is ???
Type Announcement Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) FUND RAISING Description
MALAYAN FLOUR MILLS BERHAD ("MFLOUR" OR "COMPANY")
(I) RIGHTS ISSUE OF RCULS
(II) RIGHTS ISSUE OF SHARES
(COLLECTIVELY REFERRED TO AS THE "RIGHTS ISSUE")
(Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in the Company’s Circular dated 11 October 2018)
On behalf of the Board of MFLOUR, HLIB wishes to announce that the Board has today fixed the following:
(i) the conversion price of the RCULS at RM0.50 per RCULS;
(ii) the coupon rate of the RCULS at 5% per annum on the nominal value of the RCULS, payable in arrears on a semi-annual basis;
(iii) the entitlement basis for the Rights Issue of Shares as follows:
2 Rights Shares for every 5 existing MFLOUR Shares held on the Entitlement Date together with 1 Bonus Share B for every 4 Rights Shares subscribed and 1 Free Warrant B for every 4 Rights Shares subscribed;
(iv) the issue price of the Rights Shares at RM0.50 per Rights Share; and
(v) the exercise price of the Free Warrants at RM0.68 per Free Warrant.
The conversion price of the RCULS of RM0.50 represents a discount of approximately 25.93% to the TEAP of MFLOUR Shares of RM0.675 based on the 5-day VWAMP of MFLOUR Shares up to and including 23 November 2018, being the last market day prior to the Price-Fixing Date (“Last Market Day”). In view that the subscription of the RCULS on the basis of 3 RCULS for every 10 existing MFLOUR Shares will be entitled for 1 Bonus Share A for every 2 RCULS subscribed and 1 Free Warrant A for every 2 RCULS subscribed, the effective cost of subscription for the RCULS at the issue price of RM1.00 is RM0.40, which represents a discount of approximately 40.74% to the TEAP of RM0.675 per MFLOUR Share.
The issue price of the Rights Shares of RM0.50 represents a discount of approximately 25.93% to the TEAP of MFLOUR Shares of RM0.675 based on the 5-day VWAMP of MFLOUR Shares up to and including the Last Market Day. In view that the subscription of the Rights Shares on the basis of 2 Rights Shares for every 5 existing MFLOUR Shares will be entitled for 1 Bonus Share B for every 4 Rights Shares subscribed and 1 Free Warrant B for every 4 Rights Shares subscribed, the effective cost of subscription for the Rights Shares of RM0.40, which represents a discount of approximately 40.74% to the TEAP of RM0.675 per MFLOUR Share.
The exercise price of the Free Warrants is fixed at RM0.68, which represents a premium of RM0.005 to the TEAP of RM0.675 per MFLOUR Share.
The conversion price of the RCULS of RM0.50 and the issue price of the Rights Share of RM0.50 were determined by the Board after taking into consideration the following:
(i) the TEAP of MFLOUR Shares of RM0.675 based on the 5-day VWAMP of MFLOUR Shares up to and including the Last Market Day;
(ii) the effective cost of subscription of the RCULS and Rights Shares is RM0.40;
(iii) maximum discount of not more than 55% to the TEAP of MFLOUR Shares of RM0.675 to encourage the subscription of the Rights Shares and to ensure MFLOUR is able to raise a minimum gross proceeds of approximately RM220 million based on a minimum subscription basis set out in the Circular dated 11 October 2018;
(iv) the prevailing share price movement of MFLOUR; and
(v) the overall funding requirements of the Group.
The exercise price of the Free Warrants was determined by the Board after taking into consideration the following:
(i) the TEAP of MFLOUR Shares of RM0.675 based on the 5-day VWAMP of MFLOUR Shares up to and including the Last Market Day;
(ii) the prevailing share price movement of MFLOUR; and
(iii) the overall funding requirements of the Group.
Yes very poorly managed. MFM small co has 10 directors most are politician, accountants and lawyers. None are business people. PPB which is 50 times bigger only has 7 directors
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Posted by sapurakencana > 2018-08-20 18:14 | Report Abuse
if come to the worst,i think every counter have their floor price.let guess what the floor price by end of the year.