too bad the minor sell off...but the general market is in profit taking mode due to penny stocks run ahead of their fundamental..so i am holding on to euro and hopefully their ventures into property development will be announced soon.
So Dato' Chong is looking to buy shares from certain parties for between RM0.40 - RM0.45. He will probly have more than 33% on his side soon, triggering an MGO.
What are the short term implications for the share price? Anyone willing to share his/her opinion on this? Thanks.
As first the price might seem low but big shareholders who want to cash out can't do so via the open market as the substantial volume will drive the price down.
I think the reason he made the announcement is to make the price lower so he will have a cheaper MGO. Normally, the party who has already acquired 33% of shares would directly notify bursa of their more-than-33% stake and announce the impending MGO.
IMO,It will be a good practice to disclose when you are "in talk" that will lead you to the 33% threshold. Btw, just don't bother too much about MGO with low price as minority will only start considering above 0.60. The asset injection part will be an exciting one (if materialise) with reference to Golsta, Maica and Focal Aims.
jus watch..i reckon the qtr results will be very bad, which coincides with the low MGO price.. hang on for a rough ride for those who still keep the stock
with the audited NTA at 80++sen and the current price of 60sen, privatization seems logical! more so when the Company has not revalued its prime assets for ages!!
hope u r right bursamaster! although all the signs are pointing towards a downward trend price movements with MGO at 40-45 sen, news of privatization and a possible bad quarterly report..
financials are at least in the positive zone, though nothing exciting. any updates on the possible corporate collaborations? many still queuing to sell.
TAKE-OVER OFFER The Board of Directors of the Company ("Board") wishes to announce that it has today received a notice of a conditional mandatory take-over offer ("Notice") from AmInvestment Bank Berhad on behalf of Dato’ Sri Choong Yuen Kheong, a major shareholder and an Executive Director of EURO, Dato’ Tong Yun Mong, a major shareholder of EURO, and Mr. Tee Wee Sien (collectively “Joint Offerors”) to acquire all the remaining ordinary shares of RM0.50 each in EURO ("EURO Shares") not already held by them amounting to 42,394,000 EURO Shares (“Offer Shares”), representing approximately 52.3% of the issued and paid-up share capital of EURO, for a cash consideration of RM0.44 per Offer Share
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....
tanym
96 posts
Posted by tanym > 2014-08-19 11:31 | Report Abuse
mari mari