They did the same thing to KTG 1.5 year ago. MMAG is finito for a while, which KTG has already gone through and is recovering from. I won't be surprised the owners have cleared all the warrants (1+ year to expiry) today. If u study the last AR of KTG, u won't find owners holding any warrants.
@Superb99 But then there's quite a few announcement saying shares are being converted at 0.600 though. Wouldn't the company want to push the Mother up higher if not at 0.600?
Those are converted from ICPS, usually for control purpose cos conversion ratio is 1:1 but need to pay an additional 54sen/share. Otherwise it will be automatically converted at a ratio of 1:10 (dilution) on expiry date.
I really don't know how u get the idea that mother share has to be pushed up. Of course it is still possible if u r lucky but definitely for different reason.
I still don't get it =( To my understanding, even if they want to control wouldn't it be cheaper if they just turn the ICPS into scrap paper and just buy Mother at a much cheaper price?
Not single controlling owners. They might have agreed on certain % holdings earlier among themselves and not easy to do that via mkt. I won't be surprised many of the buys and sells u see on your screen are theirs. Hence, I am not too concerned about the MMAG-induced weakness.
Whether mother share has to be pushed up is irrelevant. Point still stands, mother share cheap, convert cost is 60 cents per share; how else are you going to entice people to subscribe at double the price without some form of pushing? Because if don’t have then letting the warrant die is smarter than actually subcribing to mother share when you could have just bought mother share outright.
Agreed with Cidukciduk, yes the fact is they are converting with higher costs, you can say control purpose, but who dont want to pump first before run? This stock is clear, the history is there, its a destination where bunch of operators come in to do pump and dump. How the hell can a company changed its name and management for 5 times within 10 years?
Yea, what we said here are just our views, decision is yours, this stock is not for investment, but speculation instead, just make this thing clear, we are here because we are speculator. lol
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....
mrsembilan
38 posts
Posted by mrsembilan > 2021-03-24 11:28 | Report Abuse
boring bursa.