Upon completion of the proposed share placement, the group’s direct and effective interest in NuEnergy will be diluted from 64.7% and 51.7% to 31.7% and 25.4% respectively, GFB said in bursa Malaysia filing today.
This represents a dilution in direct and effective interest of 33.0% and 26.3% respectively, which represents a material dilution of the group’s equity interest in a principal subsidiary under Paragraph 8.21 of the Main Market Listing Requirements of Bursa Malaysia.
Upon completion of the proposed share placement, NuEnergy will no longer be treated as a subsidiary but will be considered as an associated company of the group.
Glotec is selling the compant to saujana. game over. what gas venture la
Smells like a private plan behind the curtain. Placement price too low. NGY price came down to satisfy low price. Been waiting for pod for so long, selling price would be much higher if waited for pod. How convenient for some. Decision makers decide for whose benefit? 80% directors for Saujana who holds 51% stake??? Why sell 51%, there would be investors who may be willing to buy at higher price for minority stake considering everything is in place except for the pod.
Surprise attack using shock tatics. RAT is presented as a warm and trustworthy furry creature by the board.
Still 25% of profit is very good considering the size of CBM reserves. Glotec is also doing well in the other fronts. Perhaps there may be some who may feel cheated by the smiling faces of the board of directors. The chairman has a nice smile and honest look.
Well done...marginal increase in profit...it has proven that some companies who opt for reverse split are truly confident of their future performance....reverse split should not be dismissed as a bad move.
Anyone know previously Glotec price only 0.025 Now how come price is 0.44 ? Is it from 0.025 direct spike up to 0.44 ? => 0.44 - 0.025 /0.025 * 100% = 0.415/0.025 *100% = +1660% An increase of 1660% !!!
from their last 4 qtrs the net profit is on the uptrend except the 4th one where there is impairment of assets written off resulting in losses for the 4th qtr.
Going forward, i foresee a net profit of 3mil per qtr or 12mil per annum.......just my opinion.
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....
flyby
76 posts
Posted by flyby > 2018-12-18 08:42 | Report Abuse
Market Capital (RM) : 161.45m