please go study the share sales agreement..floor price was RM0.90 and maximum 10% discount for macquarie bank..i think they need to push back above 0.90 for this private placement exercise finished. i dun know why kyy said macquarie bank sold all their shares..they dy subscribed RM4.6m at average price RM0.9614 ..no point they sold all at lose
Floor Price : RM0.90. The Floor Price for the purposes of the Subscription Agreement may be adjusted to a price not lower than 50% of RM0.90 from time to time during the term of this Agreement by Eversendai serving onto the Investor a prior written notice of not less than 3 Trading Days indicating the revised Floor Price. The revised Floor Price shall take effect on the third (3rd) Trading Day after the Investor’s receipt of such notice, or such later date as may be indicated in Eversendai’s notice. For the avoidance of doubt, adjusting the Floor Price to a price lower than 50% of RM0.90 shall require the mutual agreement of the Parties.
i think price adjust they need to announce new agreement or notice?
Subscription Price : On each subscription date, the subscription price of each Placement Share shall be an amount equal to the VWAP of the Shares as traded on Bursa Securities during the 5 consecutive trading days immediately preceding the relevant Subscription Date less 10% thereof, calculated to 4 decimal places, rounded up. The calculation of the Subscription Price shall at all times be in accordance with Rule 6.04 of the Listing Requirements. In any event, the Subscription Price shall not be less than the Floor Price (as defined below) unless otherwise agreed between the parties pursuant to the terms and conditions of the Subscription Agreement (as defined below).
the noises come out when share price drop and these noises will take the chance to promote their shit shares..... now go hiding when share price rebound...
The total volume traded was 19.24 million shares. Who has so much money to buy so aggressively to push up the price from 81 sen to above 90 sen and closed at 89.5 sen, an increase of 7 sen, about 9 % in one day? It looked like a few big financial institutions were buying.
I must say that I have not seen any counter shoot up so rapidly with such a huge volume before.
It looks like the management is considering my proposal of giving 1 for 2 bonus shares on condition that the shareholder buys 1 convertible warrant at 30 sen each by which the company can receive more money than the share placement through Macquarie Bank. I trust the company will consider my proposal seriously. The company cannot be so foolish to ignore my proposal.
Although I do not know if the price will continue to go higher or not in the next few days but I believe the share deserves a higher rating. The last 2 quarters reports show that the company has a fairly good profit growth prospect which is the most powerful catalyst to move the share price higher. For a company with such good technology, the best in Malaysia, it should sell at above PE 10.
In 2018 the company will post revenues probably exceeding Rm2bn. The profit margin target is 7.5-10% so profit between Rm 150-200mio. Divide this by around 850mio shares (after placing new shares) and the profit will be 17-23 Sen per share. With a PE of 10 (not high) target must be at least Rm 2
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....
windcloud
1,393 posts
Posted by windcloud > 2017-10-04 10:30 | Report Abuse
congrat apolloang, good patience ....