On behalf of the Board, Maybank IB wishes to announce that the application in relation to the Proposed Acquisition had been submitted to the Securities Commission Malaysia today.
- No surprise why the share price is well supported.
Cliq: messy annual report Cliq announced on August 3rd its annual report, on August 5th its amended annual report and on August 7th another amendment on the same report. The last amendment consists of seventeen pages, quite shocking.
I do understand that Cliq's Board of Directors is getting all excited about its possible acquisition, but it really should put more care in writing its annual report.
Kinibiz wrote a good article, clarifying the different motives for management and shareholders of a Spac:
"Misaligned management and shareholder goals: Spacs".
Some snippets:
For the management teams of Spacs, it is about getting a qualifying asset or acquisition at all costs, so the company can graduate to become a full-fledged company like any other on the bourse. Shareholders, on the other hand, want to get a nice return on their investments and this might come even if the Spac does not graduate.
Cliq has identified and signed a sales and purchase agreement to acquire a 51% stake in two producing Kazakhstan oil blocks for US$117 million (RM429.53 million as at the announcement date) from a local Kazakh company, Phystech Firm LLP. It is currently in the process of gaining regulatory approvals before being able to take it to its shareholders. Sona, meanwhile, has said that its management team is in advanced discussions over several assets and is confident they will meet their deadline.They had better be confident, because the alternative is losing their entire investment.
It comes down to this: the management team’s primary focus is to secure a deal so long as it allows them to graduate, while shareholders will be torn between the promise of eventual gains post-QA (possibly quite far in the future) versus a tidy risk-free gain at the end of three years.
Management and shareholders, two different agendas – only in the curious world of Spacs.
Need some advice. Bought the Cliq-wa at 0.20. Not sure whether to keep and exercise the warrant. Trying to figure out whether worth keeping/waiting with current price is 0.06! Also, what would be the exercise price of the warrant.
Oooo Ziyad the CEO and Chang the VP, anyway they themselves has been kept in the dark on certain matters as KBA the CFO like to do things without any one knowledge, that's what my source told me. Some time KBA will bypassed the CEO and go straight to the board for approval.
In his presentation, Ahmad Ziyad gave a rough timeline of events that goes like this (if i remember correctly):
KASE listing in Oct EGM sometime in mid-Nov Completion of QA around late Dec or early Jan
He also presented some info on upside potential of the Kazakhstan oilfields. Apparently, they believe there is more oil than the 39 mmbl surveyed earlier.
19 mmbl extra if calculate using 25% - 35% recovery rate (thats the average historical recovery rate for oilfields in that area. Cliq used 20.7% to calculate 39mmbl) 70 mmbl possible extra (3p) if they dig deeper than 1000m 90 mmbl if they participate in oilfields adjacent to the cliq oilfields (which are nearing their end of contracts.
I think that the company can only really count on that 19mmbl extra and maybe a portion of that 70 mmbl as well. That other 90 mmbl sounds like a long shot.
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....
tiewveehun
4 posts
Posted by tiewveehun > 2015-07-27 17:18 | Report Abuse
Maybe you should blame her father, why xxx her mother and birth tis kind of son !