Posted by eatsmall > 2015-03-26 16:07 | Report Abuse

Yemen war..oil price up..buy..buy..buy..

Posted by speakup > 2015-03-26 16:13 | Report Abuse

strangely market is not viewing this positively for cliq.

Posted by prc4wifefe > 2015-03-26 17:04 | Report Abuse

this price up not sustainable...demand is still not firing on all silinder

Posted by mililia > 2015-03-26 21:31 | Report Abuse

Too much focus on the cash level for this company. What's more important is the completion of the QA. We all know the cash level as of March 20th is RM0.71. You can refer to the amount of cash in the trust as of March 20th in the circular regarding the QA. And by the end of 3 years the cash level should be RM0.728 (net tax and other costs). So cash level if you hold until maturity is 10% from RM0.66.

But what's more important is the approval of the QA. Why? Because if it is approve then share price will be way above RM0.75-0.80. The reason is simple, they need people to convert the warrants in order to pay off balance RM100mil which was supposed to be paid on staggered basis. With the conversion of warrant, they will get around RM200-300mil which is more than enough to pay for the balance of the acquisition (saving of 6% interest cost) and CAPEX for the well.

What's more important is why the QA is in Kazakhstan? The reason is simple.. It's because SC has dealt with oil well in Kazakhstan via Sumatec. As such, with prior experience the approval of the deal from SC is easier. Next hurdle is approval from shareholders. IMO, no investors are crazy enough to reject lest they are O&G specialist and think they deal is shitty.

I'm not surprise the share price will trade closer to RM0.71, ie the cash level. I think that is the minimal risk one can take since they 3rd year cash level is RM0.728 while providing upside if the deal is approved.

Think about it. Don't worry about the cash level. The fact is, it is trading way below it cash level!

Posted by NOBY > 2015-03-26 23:07 | Report Abuse

mililia you are right, I didnt see that latest information. I was basing my calculation from the last published financial report and calculating the cash holding based 3% p.a interest.

I do not share your enthusiasm on the SPACS. Once the cash in the trust is gone, there will more and more cash calls to fund the operations etc. You can see Hibiscus as an example. The margin of safety is not there anymore once the QA is done.

My goal is to get my cash back and earn an arbitrage profit from the difference of the cash holding vs the current share price. I m doing the same for SONA and REACH as well.

Posted by NOBY > 2015-03-27 07:32 | Report Abuse

n3lly, theoratically that makes sense. but if QA fails, you wont get your cash back and will need to wait till another one or till expiry so your returns will be somewhat reduced. So you need to calculate whether its worth the risk compare to the margin acc interest and brokerage etc.

Posted by mililia > 2015-03-27 08:05 | Report Abuse

If one is a risk taker and have full faith this QA will go through. Then one should just go for warrants. Every 1sen increase in mother share will also result in 1 sen increase in the warrant. The downside however, if QA fail then you won't get anything. That's why it is not my cup of tea. Too risky though it is rewarding.

N3lly: Don't be surprise a lot of people has already done what you have suggested. It is all about yield enhancement.

Posted by nice1 > 2015-03-27 08:30 | Report Abuse

noby, what is the cash back figure for sona if qa is not done. event qa presented at egm, u can choose to opt out too. is it 48cts or 50cts?

Posted by nice1 > 2015-03-27 08:35 | Report Abuse

noby, u have good plan to arbitrage and earn the difference in interest. I guess the promoters and spac management will surely want to keep investor than to allow them to opt out due to funding needs

I guess the market price bfore egm is likely to be higher than cash out price - reasons are to get full support from shareholders. however if the asset acquired is below par, the price may go below the cash out price - then u have a good option

Posted by nice1 > 2015-03-27 08:37 | Report Abuse

credit Suisse is going big on spacky counters either way they will make. just how much

Posted by NOBY > 2015-03-27 09:03 | Report Abuse

nice1: If QA is not done, you wont get your cash back. You only get it back if QA is approved but you are a dissenting shareholder. Even in that case I m not sure on the timeline on when the cash will be returned. But logically, like you/Mililia said, if management wants warrant holders to convert to get the additional funds, they must push up the share price so I intend to sell out if that happens

I got this from an article from The Edge Malaysia dated Dec 15th 2014

Counter Expected cash value at expiry
CLIQ 0.728
SONA 0.485
REACH 0.766

assumptions are 3.2% p.a interest, 10% corporate tax and 1% other expenses.

Posted by nice1 > 2015-03-27 09:21 | Report Abuse

I am not sure whether you get it right or not

I read that cash back when there is no QA once the 3 yrs acquisition period expired or when you opt out during EGM if you choose to.

If we don't get the money back if no QA once the timeline expire, then where the money go?

Posted by NOBY > 2015-03-27 09:28 | Report Abuse

If SPAC expires after 3 years you will get your money back. You can choose to opt out during EGM if QA is annouced but you wont get the cash back unless the QA goes through. Cause if QA does not go through they will continue to hold the cash while looking for new QA. Go checjk the prospectus

Posted by nice1 > 2015-03-27 09:32 | Report Abuse

good question for all spacky counter as due diligence, legal cost, etc are very high for each oil assets

as spacky counter keep 90% in trust, balance 10% in current account for operations. Reach kept over 90% - around 94% in trust?

what if the 10% fund depleted before acquisition in 3 years? where they find the extra fund? will the expenses eat into the trust account later if no acquisition?

Posted by nice1 > 2015-03-27 09:34 | Report Abuse

noby, I agree as the explanation is very clear

Posted by nice1 > 2015-03-27 09:45 | Report Abuse

if cash back for cliq is around 73cts, promotors and spacky owner will want the market price to be 75 and above bfore egm. the higher the better for support for the qa

Posted by speakup > 2015-03-27 09:57 | Report Abuse

only fools sell Cliq now, considering that in just 1 year, whether QA successful or not, it's redemption value is 72sen. 10% upside. Zero risk, just like FD, but FD wont give u 10%!

Posted by murali > 2015-03-27 10:02 | Report Abuse

Speakup, the deal will go thru..that's their purpose of listing....to take your money to buy a nobody knows biz in Kazakhstan

Posted by murali > 2015-03-27 10:03 | Report Abuse

I think the downside risk is limited now, till the QA goes thru...then it's officially dead...

Posted by speakup > 2015-03-27 10:03 | Report Abuse

i prefer the mother, less risky, can sleep at night :-)

Posted by speakup > 2015-03-27 10:25 | Report Abuse

how to limit up when got fools who dont realise Cliq is a 10% FD.

Posted by eagle > 2015-03-27 11:28 | Report Abuse

when is the egm?

Posted by murali > 2015-03-27 14:46 | Report Abuse

speakup, u are a real fool if you take this as a 10% FD....the deal will 99% go thru then you can kiss goodbye to your 10% FD

Posted by murali > 2015-03-27 14:47 | Report Abuse

The meat oredi in the mouth of the crocodiles and you think they will just let it slip away??

Posted by murali > 2015-03-27 14:48 | Report Abuse

Go to study the pattern of SPAC in USA and even here then you will know that your 10% FD is as good as dead when the QA is done

Posted by imoogi99 > 2015-03-27 14:52 | Report Abuse

speakup is right...whether 10% FD or not depends on how much they spend but he do get the money. See the SC guidelines below...

Rights of holders of voting securities who vote against a qualifying
acquisition
6.25 Holders of voting securities (other than the members of the management
team and persons connected to them) who vote against a qualifying
acquisition at a meeting convened to consider the qualifying acquisition must
be–
(a) entitled to receive, in exchange for their securities, a sum equivalent to
a pro rata portion of the amount then held in the trust account (net of
any taxes payable and expenses related to the facilitation of the
exchange), provided that such qualifying acquisition is approved and
completed within the permitted time frame; and
(b) paid as soon as practicable upon completion of the qualifying
acquisition should they elect to exchange their securities. The
securities tendered in exchange for cash must be cancelled.
6.26 The basis of computation for the pro rata entitlement must be disclosed in the
prospectus.

Posted by murali > 2015-03-27 14:53 | Report Abuse

If the deal went thru, your 10% FD will go to a nobody knows Kazakhstan Co (nobody knows who the actual boss is too...), then you have to pray the well are really there.....I think it is as good as the cash in the bank ac of China listed co here...

Posted by murali > 2015-03-27 14:54 | Report Abuse

It's only if the deal didn't go thru....so you guys buy the shares of this co to oppose the deal in EGM so as to enjoy 10% FD??

Posted by imoogi99 > 2015-03-27 14:56 | Report Abuse

murali...u r wrong....if the deal goes through and you are on of them didnt agree to it, you get your money back.U must in the egm to vote against it.

Posted by murali > 2015-03-27 14:57 | Report Abuse

U have to say no to the proposal in EGM so as to get your 10% FD back...It's what i am saying mah...

Posted by murali > 2015-03-27 14:58 | Report Abuse

But the deal will 99% go thru loh....

Posted by murali > 2015-03-27 14:59 | Report Abuse

The crocodiles will make sure it go thru and you lose your 10% FD

Posted by imoogi99 > 2015-03-27 15:02 | Report Abuse

Even 99% deal goes through and you are 1 of them said no in EGM, then you get the money back from the trust. Yes the deal will goes through.


Posted by murali > Mar 27, 2015 02:46 PM | Report Abuse

speakup, u are a real fool if you take this as a 10% FD....the deal will 99% go thru then you can kiss goodbye to your 10% FD

Posted by murali > 2015-03-27 15:03 | Report Abuse

U mean even one shareholder who owns 100 unit said no to the deal and then the deal will be off and everybody gets back 10% FD???

Posted by murali > 2015-03-27 15:05 | Report Abuse

I get what you meant...if any of the shareholder said no to the deal then he will get back his money while others still will go on with the deal....

Posted by imoogi99 > 2015-03-27 15:06 | Report Abuse

YES and NO. No, the deal will still goes through as they need 85% approval for QA but YES, if you one of them reject, you get your money back.....read the SC guidelines I paste above. You can download from www.sc.com.my.

Posted by murali > 2015-03-27 15:08 | Report Abuse

If this is true, then to view it as a 10% FD is still making sense, as long as you say no to the deal in EGM and then you can get back your money....

Posted by murali > 2015-03-27 15:09 | Report Abuse

So are you guys buying the shares to say no in EGM to get back your 10% FD or you wanna follow them to go Kazakhstan??

Posted by sheep > 2015-03-27 21:57 | Report Abuse

If cost of production is low and at current price there is still good profit to be made, why all this hu huh ha ha? you all want the price to go down so can grab more? phui! wakakakaka

Posted by murali > 2015-03-27 22:22 | Report Abuse

Then buy more....better use margin to buy

Posted by Fasterom > 2015-03-29 14:18 | Report Abuse

CLIQ not to goreng...but the retail investor will be goreng...good luck..

Posted by nice1 > 2015-03-30 09:01 | Report Abuse

http://www.theedgemarkets.com/my/article/potential-adjustment-price-cliq%E2%80%99s-qa

Amid concerns that special acquisition company Cliq Energy Bhd ( Financial Dashboard)’s purchase price for two assets in Kazakhstan is deemed high given that it was benchmarked against oil prices last December; it is worth noting that it could be adjusted downward by 5% or no less than US$218.5 million (RM803.95 million).

The 3% decline in its share price last Wednesday, a day after the special acquisition company announced its proposed qualifying acquisition (QA), reflects investors’ concern that the purchase price is deemed high as it is benchmarked against December 2014’s oil price — at about a 40% premium to the current market price.

Posted by nice1 > 2015-03-30 09:03 | Report Abuse

“The US$70 (Urals crude oil) as stipulated in the announcement on Bursa Malaysia is just a reference as that was the benchmark during the time of the negotiations. If the independent valuer tells us that it is outside the current range, we have the option to renegotiate the price,” said Ahmad Ziyad.


First, overpriced, 2nd, can still nego - macam main main

Posted by speakup > 2015-03-30 09:58 | Report Abuse

http://m.thestar.com.my/story.aspx?hl=No+issue+with+funding+for+Kazakhstan+oil+fields&sec=business&id={1ED99F3F-24DA-4F43-9429-0741B71CEDC7}

Posted by speakup > 2015-03-30 10:05 | Report Abuse

Cliq-wa exercise price only 50sen!


However, the company still has 630.9 million convertible warrants units, which will expire come April 9, 2016. If all warrants are converted come expiry, CLIQ will have a gain of RM315.5mil.

“We are hoping for the warrant conversion of around US$80mil,” he says.

With that, CLIQ would be able to pay off its debts and still have almost US$40mil in cash to spare.

Posted by menly > 2015-03-30 11:09 | Report Abuse

walaweiiii so many news talk cliq aaa... all these reporters n analyst like cliq so much but ppl here still talk no good aaa...

Posted by prc4wifefe > 2015-03-30 14:21 | Report Abuse

so many news...but are they good news????

Posted by eatsmall > 2015-03-30 17:03 | Report Abuse

too many Q..here..ramai yg pandai..hope 2molor fly UP to space..people stop talking if no O2

Posted by speakup > 2015-03-31 09:02 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1917817

Director Julian increased his stake in Cliq to 3.41%.

Posted by nice1 > 2015-03-31 09:26 | Report Abuse

Julian also bought sona shares, one wealthy director

one spacky expert too