all are proposed only. the final price will be determined later on. so it could be high or it could be low. but it was RM1.60 years ago. No one knows why they let it drop to 0.08 now
Gold mines start making profits, tourism resume, properties also showing recovery. This is tricks for them to wash out weak hands and collect low. Don't be fooled. Hold on tight, Datuk Wira will bring Yongtai back to glory. 30cents before consolidation. Prove me wrong next month.
Same if not being used via PP/ESOS etc.. we have seen this quite prevalent in others... AT,AGES,KANGER to name a few....
If it does, your real hold value is dropped as they (A) can cash out while pressing the base prices lower and lower... worse even if existing holders CL.. Then A are happily collecting all the CL shares..
On behalf of the Board of Directors of YTB (“Board”), M&A Securities Sdn Bhd (“M&A Securities”) wishes to announce that YTB proposes to undertake the following:
MULTIPLE PROPOSAL
1. proposed consolidation of every 5 existing ordinary shares in YTB (“YTB Share(s)” or “Share(s)” or “Existing Share(s)”) into 1 YTB Share (“Consolidated Share(s)”) held by the entitled shareholders on an entitlement date to be determined and announced later (“Consolidated Shares Entitlement Date”) (“Proposed Share Consolidation”);
2. proposed bonus issue of up to 103,098,378 free warrants in YTB (“Warrant(s)”) on the basis of 1 Warrant for every 4 Consolidated Shares held by the entitled shareholders on an entitlement date to be determined and announced later (“Warrants Entitled Shareholder(s)”) (“Warrants Entitlement Date”) (“Proposed Bonus Issue of Warrants”); and
3. proposed settlement of an aggregate amount of RM46,000,000 debt owing to creditors by the Company and/or its subsidiary (“Settlement Amount”), via the issuance of 92,000,000 new YTB Shares (“Settlement Share(s)”) (“Proposed Debt Settlement”).
Further details of the Proposed Acquisition are as attached.
KUALA LUMPUR: Property developer Yong Tai Bhd's (YTB) losses widened in the third quarter (Q3) financial year ended 31 March 2022 (FY22) as the company posted an impairment loss of RM117.9 million during the quarter, resulting in a net loss of RM121.5 million.
Year-to-date, the impairment losses have accumulated to RM198.5 million, reflecting the adverse impact of the Covid-19 pandemic on both its tourism and property development businesses.
The losses from the impairment would have been priced into the shares price , which drop from average 25cts to 6cts now. With the huge impairment, the company would have a clean balance sheet and with the support of the RCPS of RM180 Million ,the company will possibly be able to see through their project on hand. The settlement with the creditors will also assist in the cash flow of the company...
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
1,700 posts
Posted by kllady_fidah > 2022-05-15 08:45 | Report Abuse
Huat Chai!! YT may surprise us soon.......