@hakubasnow, still got 300 shares and 4,400 shares opposed to the Bonus Issue and Free Warrants respectively! The 300 shares must oppose because of the odd lots he/she will be getting!
@Brutus, In most EGM that I attended, there will always be a few votes that are against the resolutions. It's like watching Youtube videos. There will always be a few dislikes even for a video of a cat that got rescued.
@hakubasnow, yes indeed. Noticed that too. Even dividends also there are shareholders who would opposed to it. Now we just wait for evening time for BPPLAS to release their Q3 report.
With so many disruption in Q3, an EPS of 5.39 (Q1 EPS 5.15) is almost comparable to the industry leader TGUAN (Q3 EPS 5.85). BPPLAS dividend is much more generous 3.00 vs 1.25 sen as compared to TGUAN. 9M BPPLAS EPS is 18.41 (Div 9.00sen) vs TGUAN 18.26 (Div 3.25sen) with both their share prices around the same range.
behalf of the Board, Kenanga IB wishes to announce that the Board has resolved to fix the exercise price of the Warrants at RM2.45 each, which represents a premium of RM0.55 or 28.95% over the TEBP of BPPLAS Share of RM1.90, calculated based on the 5-day VWAP up to and including 23 November 2021 (being the price fixing date) of RM2.85 per BPPLAS Share.
Securities Entitlement Company Name BP PLASTICS HOLDING BHD Entitlement Ordinary Shares Ratio (New : Existing) 1.0000 : 2.0000 Available/Listing Date 23 Dec 2021 Fractional Entitlement Round Down / Fraction Disregard
And I guess some investors are busy adjusting their position after bonus issue, plus warrant issue is on the way and unfavorable current broad market condition. Still Bpplas growth trajectory remains intact poised for economy reopening next year.
Patiently waiting to increase my position. Fundamentally nothing changes, just the overall market sentiments are not good. Also many take the chance to re-position themselves after the bonus issue, very normal.
Info from equitiytrackers show that bpplas is one of the better stocks in the "packaging" space. Good eps, good cashflow, good dividend (2 sen every quarter), minimal debt etc. I feel it has been dicounted too much after the 1 for 2 bonus issue & free warrants ( with a high exercise value, indicating majority shareholders are not taking advantage of it) ..not suggesting anything, just my views
Warrants if not mistaken have a predetermined date to convert to ordinary shares. Do not have any experience here, need to slowly digest and learn up this company warrants.
With the exercise price this high, the ex-date for the war. is likely to be quite far away..may be 5 years..it is my guesstimate .. need to check... Once the war. is listed, this info would readily available
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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....
Brutus
313 posts
Posted by Brutus > 2021-11-09 11:38 | Report Abuse
Got a hunch BPPLAS will announce their Q3 report after the EGM in the afternoon. Looking forward to another bumper dividend!