RENOUNCEABLE RIGHTS ISSUE OF UP TO 1,862,402,877 NEW ORDINARY SHARES IN FITTERS DIVERSIFIED BERHAD ("FITTERS" OR THE "COMPANY") ("FITTERS SHARES" OR "SHARES") ("RIGHTS SHARES") AT AN ISSUE PRICE OF RM0.065 PER RIGHTS SHARE TOGETHER WITH UP TO 1,241,601,918 FREE DETACHABLE WARRANTS IN THE COMPANY ("WARRANTS") ON THE BASIS OF 3 RIGHTS SHARES TOGETHER WITH 2 FREE WARRANTS FOR EVERY 1 EXISTING SHARE HELD BY THE ENTITLED SHAREHOLDERS OF THE COMPANY AT 5.00 P.M. ON 17 MARCH 2023
============ Date for commencement of trading of rights 20 Mar 2023 Date for cessation of trading of rights 27 Mar 2023
FITTERS-OR trading at 0.005 seller price Could be similar to recent rights issue exercise by BSLCORP whereby most retail shareholders are not willing to fork out more money to subscribe for the rights shares
Proxies and friendly penny stock companies might come in to support the fund raising by using company fund to subscribe for the excess rights shares
Hopefully the relevant government agencies [eg Companies Commission of Msia, AGC] review the applicable laws and make the law more robust to support meaningful business growth and prevents key shareholders, directors from manipulating the companies' operations, which may not contribute positively to the economic development in Malaysia.
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....
whistlebower99
5,255 posts
Posted by whistlebower99 > 2023-03-23 12:25 | Report Abuse
RENOUNCEABLE RIGHTS ISSUE OF UP TO 1,862,402,877 NEW ORDINARY SHARES IN FITTERS DIVERSIFIED BERHAD ("FITTERS" OR THE "COMPANY") ("FITTERS SHARES" OR "SHARES") ("RIGHTS SHARES") AT AN ISSUE PRICE OF RM0.065 PER RIGHTS SHARE TOGETHER WITH UP TO 1,241,601,918 FREE DETACHABLE WARRANTS IN THE COMPANY ("WARRANTS") ON THE BASIS OF 3 RIGHTS SHARES TOGETHER WITH 2 FREE WARRANTS FOR EVERY 1 EXISTING SHARE HELD BY THE ENTITLED SHAREHOLDERS OF THE COMPANY AT 5.00 P.M. ON 17 MARCH 2023
============
Date for commencement of trading of rights 20 Mar 2023
Date for cessation of trading of rights 27 Mar 2023
FITTERS-OR trading at 0.005 seller price
Could be similar to recent rights issue exercise by BSLCORP whereby most retail shareholders are not willing to fork out more money to subscribe for the rights shares
Proxies and friendly penny stock companies might come in to support the fund raising by using company fund to subscribe for the excess rights shares
==================
TAYOR