Let me tell why I still have faith in OCK despite the stock price had shot up another all-time high RM1.52 on 15.5.2014. Notwithstanding the recent announcement of the proposed bonus issue and transfer to Main Board, there will be another rather interesting development soon that, I believe, will rally the stock price once again. Since late last year, the stock had gathered some interest partly because of the news of this impending transfer to Main Board. This has come true with recent announcement albeit a bit late. The late was delibrate. At the same time, the bonus issue has give another round of boost. These news will certainly make OCK continues to be in favourable mood for some time. Ain't this suppose to be the purpose - continue to create news and maintain the mood for as long as possible. And don't forget about the news of private placement as well. The corporate side of story is getting more and more exciting.
On behalf of the Board, RHBIB wishes to announce that the Board has fixed an issue price of RM1.30 for each new ordinary share of RM0.10 each in OCK ("OCK Share(s)") ("Placement Share(s)") for the first tranche of the Private Placement comprising of 28,490,000 Placement Shares, representing 10% of the issued and paid-up share capital of OCK as at 29 May 2014.
The issue price represents a discount of approximately 7.80% to the five (5)-day weighted average market price of OCK Shares up to and including 28 May 2014 of RM1.41.
The Board is currently identifying suitable placees for the remaining Placement Shares pursuant to the Private Placement. The relevant announcements for the remaining Placement Shares shall be made in due course.
Better result than last year. Imaging Private placement 20% at $1.30.....if LTAT and Directors invested so much money, do you think they will sell if price below $1.80 or $2.00 before bonus issues and going to main board. So don't sell.....hold and accumulate more and more.
Extract from Annual Report 2013 : As at 31st December 2013, the gross proceeds of RM12,173,000 raised from the private placement of 25,900,000 new ordinary shares of RM0.10 each at an issue price of RM0.47 per ordinary shares in the share capital of the Company
OCK price closed @ 31.12.2013= RM 0.80
RHBIB wishes to announce that the Board has fixed an issue price of RM1.30 for each new ordinary share of RM0.10 each in OCK ("OCK Share(s)") ("Placement Share(s)") for the first tranche of the Private Placement comprising of 28,490,000 Placement Shares, representing 10% of the issued and paid-up share capital of OCK as at 29 May 2014.
OCK Price closed @ 29.5.2014 = RM 1.43
After the last private placement in 2013, price move up about 44%...assuming the private placement in 2014 achieve the same share appreciation rate, OCK will trade around RM 2, more to come as bonus issue and transfer to main board. Good luck...
My opinion on the sequence are as below: If BI first then MB, the price will be more stable and moving upwards, ended the price will be higher range, good for market capitalization. If MB then BI, it will cause the pricing to fluctuate a lot. Then may cause the price to be stable at a much lower range.
Please correct me if I'm wrong. Just an inexperience guess.
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Looks like many of us here are on the same jetliner(DSONIC), train(PRESBHD) and boat(OCK), kikikiki.... very good day, sawi most of them.
Siva bro, jetliner will be reaching supersonic speed very soon I hope. betul, old man sudah bangun hehehe... hopefully market sentiments will stay good this week and old man laced up a pair of Nike running shoes, start light jogging...
upx3 bro, i think u may be right. usually will have announcements kalau ada last minute viagra macam nih..... don worry about the tower contract award bro..... the cake is big enuff for all the players to makan...
This counter really cilakak... when I free to monitor market, it moves so slow. When I away and bz on my work, he shoot up and make me miss out on the excitement... come back see the closed price just like after a sweet cup of coffee... so damn good!!! Hahaha
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....
Hochimama
876 posts
Posted by Hochimama > 2014-05-30 11:33 | Report Abuse
if they are giving the private placement from current exsisting shares. then their stock is worth holding. :)