Posted by jack2 > 2016-03-10 07:52 | Report Abuse

that is correct

Posted by stonenut2 > 2016-03-10 13:31 | Report Abuse

Why would I buy sona at 0.44 since I can buy perisai at 0.260?

Posted by CLIQmanagement > 2016-03-10 14:14 | Report Abuse

Why not you buy Cliq-wa ? 0.005, cheap.

Posted by speakup > 2016-03-10 16:58 | Report Abuse

2 scenarios:
if management seriously want the QA, they will push up Sona above 49sen before the AGM.
if management just main main only, Sona will remain around this level before AGM.

this will show how serious Sona management is.

Posted by cruise > 2016-03-10 19:21 | Report Abuse

red sena already started goreng without a QA
this one with approved QA aka a license to goreng, goreng la

Posted by YC_Ma > 2016-03-10 21:22 | Report Abuse

Speakup i agreed with your comment

Posted by YC_Ma > 2016-03-10 21:24 | Report Abuse

Ever got any good signal also need to carefull, afriad big boss wayang wayang .....

Posted by callme777 > 2016-03-11 08:33 | Report Abuse

Not looking good at current prices and so near the EGM. Becareful Ya.... Don't get con. Think and follow your instinct. Stock price tells a lot

Posted by stonenut2 > 2016-03-11 10:36 | Report Abuse

I better throw all my money od perisai.. who knows later Sona like Cliq... liquidate habis

Posted by CLIQmanagement > 2016-03-11 11:14 | Report Abuse

go buy perisai then. No need to come to this page.

Posted by callme777 > 2016-03-11 11:46 | Report Abuse

This is Sona forum. Pls stick to Sona

Posted by YC_Ma > 2016-03-11 12:04 | Report Abuse

Buy after the qa approve

Posted by StockQueen > 2016-03-11 17:25 | Report Abuse

I have received the letter. Need to fill up the detail n send back?

Posted by pontianboy > 2016-03-11 17:35 | Report Abuse

Hi RIAZ, I might be asking too much from you. Can you please advice me on what's stated in pg56? I do not have the circular and it would greatly help me in deciding this investment. Thanks.

Posted by Kareemabduljabbar > 2016-03-11 17:48 | Report Abuse

You need to see what their oil price assumption is for 2017/18 and see if you agree with it. In simple terms, if you think oil will be > 50-60, then buy and vote yes. Else sell or vote No. I was told Promoter overseas and speaking to funds and also to CS and Pacific Alliance to convince them. Anyone can confirm this ? If any of these funds can make a public statement that they will vote yes, then the stock will fly. Have you seen any brokers report as to what is the NAV based on different oil prices ? At the moment, way below cash value so likely fail. But insha allah, Promoter succeed.

Posted by callme777 > 2016-03-12 08:32 | Report Abuse

Unless the share price of the SPACs convincingly stay above their respectively cash value (the amount which will be returned to shareholders if a QA is not made in the stipulated time), most shareholders will opt to get their money back rather than to vote for the QA to go through.

Today's Star

Posted by callme777 > 2016-03-12 08:45 | Report Abuse

Unless the oil field that the SPACs are acquiring has ridiculously low valuations and is a no-brainer kind of investment, not many would be prepared to invest.

Towards this end, Sona announced that the price of the asset that it is acquiring has been reduced by 50%. Even this news has not got the market excited.

The ideal situation for the SPAC would be to pay no premium for the oil fields that it plans to acquire. All the money raised should go towards enhancing the production of the oil fields.

The scenario that the SPACs are facing today is a far cry from the exuberance that surrounded the companies when they went for listing three years ago. The shares were in demand, as investors were still dazzled by the runaway success of Hibiscus Petroleum Bhd, Malaysia’s first SPAC.

Posted by callme777 > 2016-03-12 08:45 | Report Abuse

Below 0.485 just vote NO

Posted by Kareemabduljabbar > 2016-03-12 09:12 | Report Abuse

http://www.thestar.com.my/business/business-news/2016/03/12/the-fading-beauty-of-spacs/

Posted by callme777 > 2016-03-12 10:03 | Report Abuse

So many will ask why is the price at 0.465 and not 0.485? The answer is simple: time value. If QA rejected than money will only be returned somewhere in mid August to early September

Posted by coolinvestor > 2016-03-12 10:41 | Report Abuse

Actually this is really a no brainer.

Those who belive believe in the long term potential of sona with revenue generating assets. U can vote yes.

Those who dun believe, prefers a yield back or detractors. U can vote no.

again its best to listen at the egm before deciding. I would definitely prefer a long term potential approach. Oil is slowly rising n stabilising. This is in the news. It may yoyo but which asset price doesnt? So choose wisely. I wouldnt want to wait until the oil price goes up to 50usd or more before buying into oil n gas companies.

btw u can buy back after the qa so its really your choice. Good luck

Posted by tewnama > 2016-03-12 11:22 | Report Abuse

Sona baik. Tapi belum beli aset lagi sudah sekian lama. Gaji lembaga pengarah ambik tiap tiap bulan. Nampak macam makan gaji buta

Posted by taitaumau > 2016-03-12 11:49 | Report Abuse

Friendly Remainder to ALL Sona shareholders who intend to VOTE AGAINST
QA(Qualifying Acquisition) on the forthcoming EGM on 30.03.2016.

1. Take note of procedures & requirements stated on pages 47 to 49 of
the circular to shareholders dated 08.03.2016

2. Read and understand conditions stipulated in the REQUEST FORM
(Share repurchase option by dissenting shareholders)

3. REQUEST FORM makes reference to only relevant shares standing to
the credit of CDS A/C as at the RECORD DATE

RECORD DATE - the date specified for the Record of Depositors used
for verifying shareholders' rights to attend and vote
at the EGM to be held on 30.03.2016

i.e. 23 MARCH 2016

To my understanding, only shares of free status [at least T + 3] held
in CDS A/C as at 23.03.2016 can be sold back to the Company

Posted by Kareemabduljabbar > 2016-03-12 16:07 | Report Abuse

http://www.thestar.com.my/business/business-news/2016/03/12/spacs-are-not-a-failure/

Posted by callme777 > 2016-03-12 23:22 | Report Abuse

If I am attending the EGM must I still send in rejection letter? Or just reject on the EGM day?

Posted by jack2 > 2016-03-13 12:34 | Report Abuse

after reading the circular, i thought this StaG field is much better than other QAs by other SPACS in terms of pricing, no debts, 100% control and cash balance, etc

if this one dont make it, other SPACs have no hope

its really Hadi job to convince his major shareholders to support. the balls is with him...

Posted by coolinvestor > 2016-03-13 19:29 | Report Abuse

From USD 50mil nego to usd25 mil. This is a good nego. Furthermore the 3rd party value stag at today's low oil price from 30 to 50mil USD. Usd5mil discount..santos desperate for money. This is in the circular.

3rd party also value stag fields in the future to be worth around usd50 to 100mil depending on oil price. Sounds not bad. Their projection from those multiple line graphs are also quite conservative.

Their oil pumped sells around Brent crude price.

Posted by coolinvestor > 2016-03-13 19:31 | Report Abuse

The major shareholders ought to know the advantages far outweigh the disadvantage in price now. I hope that they are more farsighted.

Good luck

Posted by jack2 > 2016-03-13 20:21 | Report Abuse

yeah, this QA is the best on the table among all

oil price is cyclical, up & down as other commodities, now is an excellent time to buy low and ride on the price recovery

the founders Hadi and gang shud do the necessary ...

Posted by callme777 > 2016-03-14 10:05 | Report Abuse

This price is no brainer. Take money and reject QA

Posted by Ant > 2016-03-14 11:00 | Report Abuse

why every have say shareholder will reject the QA.
sona case is totally difference from CLIQ,
SC had approved Sona QA but CLIQ had rejected by SC.

Posted by stockraider > 2016-03-14 11:05 |

Post removed.Why?

Posted by Old90 > 2016-03-14 11:08 | Report Abuse

Patience, EGM tat time, we will know the answer. Still, I am positive with the QA.

Posted by jack2 > 2016-03-14 11:35 | Report Abuse

yeah, be patience, no worry, still have 11 days bfore EGM

Posted by stockraider > 2016-03-14 11:46 |

Post removed.Why?

Posted by Old90 > 2016-03-14 11:52 | Report Abuse

It is all about betting, either win big(QA success) or loss big(QA fail) only. No right nor wrong. Just for those who dare to take risk.

Posted by stockraider > 2016-03-14 12:06 | Report Abuse

Actually if QA success....warrant holder gain will be diluted bcos of massive dilution from promoters and founders option share of Rm 0.01...!!
But if fail....warrant holders really lose very big mah...!!

Posted by jack2 > 2016-03-14 12:07 | Report Abuse

with 11 days to go, surely the promoters will be all out to convince shareholders & will only know the result on 30/3

Posted by Old90 > 2016-03-14 12:16 | Report Abuse

lol, argue here no use. We are predicting only, actual answer still need to wait until 30th March. Got people sell, sure got people buy.

Posted by jack2 > 2016-03-14 12:23 | Report Abuse

many members think that once QA is approved, the warrants will cause massive dilution of earning is not exactly right

investors will not convert until there is a good premium, its not an immediate dilution of EPS

to convert, there is a cost of 35cts, this will bring more fund to the company for future investment in productive fields, the dilution of EPS will be mitigated

Posted by Kareemabduljabbar > 2016-03-14 13:41 | Report Abuse

No need to wait for 30 March as many shareholders already indicated to their custodian / banker they are voting no. > 20 % already. Promoters appear to be unsuccessful so far in convincing anyone. After 23 March, buyers have no vote, so who will buy ? Deal has only 7 days left. Not a single statement of support by the major shareholders, nor the Promoter nor a single institutional investor.

Posted by YC_Ma > 2016-03-14 14:16 | Report Abuse

SEE ALL WAYANG WAYANG

Posted by KrK_duit > 2016-03-14 15:03 | Report Abuse

Who is gonna sell today

Posted by stockraider > 2016-03-14 16:59 | Report Abuse

many members think that once QA is approved, the warrants will cause massive dilution of earning is not exactly right

investors will not convert until there is a good premium, its not an immediate dilution of EPS

to convert, there is a cost of 35cts, this will bring more fund to the company for future investment in productive fields, the dilution of EPS will be mitigated

I THOUGHT U HAVE NO CHOICE BUT TO CONVERT BCOS THE WARRANT IS EXPIRING MAH....SOMEWHERE AUGUST.....!!

Posted by jack2 > 2016-03-14 17:09 | Report Abuse

if QA is approved, the warrants is due in another 2 yrs

I think many contra traders caused the price down

Posted by coolinvestor > 2016-03-14 17:10 | Report Abuse

good news is....about 42mil of warrants were traded today. This is a very large volume.
also saw buyers/bidders queue up for almost 8mil plus of warrants.
perhaps somebody are pushing down the prices to collect at low of 6.5sen? maybe

bad news is....could be traders/speculators collecting then selling for small profits for a 1 or 0.5 sen
could also be ppl dumping the warrants. however support at 6.5sen is very strong. curious

tmw will be interesting to watch

Posted by YC_Ma > 2016-03-14 21:39 | Report Abuse

Tomorrow continue watching movies

Posted by T1T4N > 2016-03-14 23:47 | Report Abuse

QA will GO ON.
1)Credit Suisse who is holding 10+% are in support of Hadian.
2)Read the circular, absent voting shareholders = YES VOTE.
Malaysians, how many of you read and attend AGM? lol

Anyone who likes to gamble, buy warrant now. Super under value. TP 15 cents if QA ON.

Posted by jack2 > 2016-03-15 08:27 | Report Abuse

credit Suisse and Pacific are like a team in investment in sona
if credit Suisse support, Pacific shud be positive

Posted by Kareemabduljabbar > 2016-03-15 10:17 | Report Abuse

I agree that CS and Pac Alliance are working in concert. But imagine you are in their shoes and you want deal to succeed. Ie you will vote yes. Surely you will make a statement to that effect since you know that this will galvanise the public and convince others to also vote yes. Even if you don't want a public disclosure, you would tell your broker to gently spread the word in the market. At the very least the promoters will be doing so, having secured 2 important anchors to vote yes. So far habuk pun tada. The warrant collapsing to 6.5 cts isn't really a clarion call of confidence. Today one of the local bank has a briefing for top clients. Let us see. But honestly how retail vote is inconsequential. Their total shareholidng is small. Any 25 % vote no, deal is dead. Many yield investors already stated intention to vote no or to sell their block to someone who will vote yes. btw, anyone wishing to vote No will surely turn up at EGM. Those who are absent doesn't matter. As long as 25 % vote no, deal is dead. Insha allah promoters find a way to make this happen.