Posted by callme777 > 2016-03-16 16:33 | Report Abuse

Really this is SONA responding on a forum? Omg.... So desperate? If it's really that good why come so low to a forum to promote thyself?! Let your stock price speak for itself!

Posted by coolinvestor > 2016-03-16 16:39 | Report Abuse

callme777, as much as u are entitled to your opinions to vote against the QA, so are we ALSO entitled to vote for the QA and listen to views and news from the management itself.

Since i3investor is one the largest forums on klse stocks. why wouldnt they come here to promote? When they didnt promote u complain and bitch about that. now they promote u threaten to vote against them as per the share price wanting to go to 48.5. what happens when it goes above 48.5? u want to go to 50sen? furthermore it sounds like u are trying to blackmail them eh? This is really unethical of you.

what do u want? why are u still here? why are u so unhappy?

sheesh.....

Posted by coolinvestor > 2016-03-16 16:41 | Report Abuse

somehow i think u have a hidden agenda somewhere. real investors are always looking for future returns.

Posted by callme777 > 2016-03-16 16:42 | Report Abuse

Hahaha.... The very fact the management is here tells you a lot! Let's see who has a hidden agenda

Posted by Old90 > 2016-03-16 16:43 | Report Abuse

callme777, relax..good that it provide us more info, no harm. The company also hope the QA will be approve n vote Yes from all the shareholder. Looking promising for future gain.

Posted by callme777 > 2016-03-16 16:43 | Report Abuse

Not voting for QA below 0.485 current price is call threatening? So so shallow

Posted by coolinvestor > 2016-03-16 16:45 | Report Abuse

u did threaten them right....so whos shallow?

Posted by jack2 > 2016-03-16 16:51 | Report Abuse

if you are not in favour of the QA, PLS sell at market price 0.465 and walk away

no point for you to wait for 0.47cts refund (in event of liquidation) and will take few months too

pls do your maths and sell

Posted by T1T4N > 2016-03-16 16:52 | Report Abuse

On a serious note,
Salute to Sona Management.

Snubbed by Salamander Deal (Oil price CRASH! haha, lucky no QA)
Push through SC requirements (Cliq fail and die here)
Manage to CHOP 50% discount for QA (Independent advisors say expensive on original price)
After QA still have cash reserve for operations. (WTF!)

Now coming to the last stage.
Seeing the chronological events, Sona Team is having Huge LUCK and management strength all these while.
I strongly believe QA is ON.
Good luck SONA, make history!

Dato Sri Hadian speaks:
https://www.youtube.com/watch?v=o-yVWIHxRL4

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

I think he has margin on the shares and wants to earn more by at least a few extra sens as possible. its also possible he lost some while the price went down a bit. Dunno what he is thinking.

No need to bother. imagine warren buffet complaining about a few sens from his billion dollar investments.

keep it up sona. and yes all of us here do have an agenda...that is to see sona QA approved. Its a noble one isn't it?

Posted by ab55 > 2016-03-16 17:08 | Report Abuse

Callme dah sakit jiwa u can sell your ikan bilis and blah...

Posted by houwei86y > 2016-03-16 17:33 | Report Abuse

From the look of it... lets look at the shares voting rights and do some maths...
Management Shareholding is 20% which has no voting rights
CS and PA holds 21% of the total share
Shares with voting rights = 80%
CS+PA/Total Share with voting rights = 25%

Does that mean if CS and PA (yield investor) votes no.... its game over?!

Posted by YC_Ma > 2016-03-16 18:29 | Report Abuse

no hope run

Posted by Michael Teng > 2016-03-16 18:50 | Report Abuse

This is a cold , hard fact.
CS and PA are yield investors. They will vote "NO" ! Then SONA will be up for liquidation. SONA management get nothing from initial investment made during liquidation. Warrant holders will hold on worthless papers.

Note that PA has just declared 5% voting shares in Reach Energy on 15th March 2016. Same fate will befall Reach warrant holders.

Posted by houwei86y > 2016-03-16 19:31 | Report Abuse

Looks like the management team need to push to the price to an attractive enough price for CS and PA to hold and sell it in the open market after egm rather than getting the liquidated return.....

All the best to all....

Posted by Michael Teng > 2016-03-16 20:02 | Report Abuse

SONA Management can stealthy engage CS and PA , and buy over the 21% at 5% premium over market price of $0.46, ie, pay additional 2.5 cents.

At the same time, parties acting-in-concert will mop up as much Sona warrants at 2-4 cents on the last week leading up to March 30th EGM. Meanwhile, continue to repeatedly sound out that securing 75% approval against a backdrop of 30% institutional investors, some basically yield investors are quite a hurdle to overcome.

Come 30th EGM, the motion are carried through.
1. SONA warrants immediately traded in excess of $0.12, generating a gains of 8-10 cents, easily enough to over the 5% premium paid for the controlling blocks of Sona shares.
2. Sona management will have an immediate financial windfall vs the case where they will get no refund if Sona is liquidated.

Finally, what about the possibility that CS and PA are dealing on the behest of some interested parties , connecting with SONA Management, who are for all intents and purposes, designed to mop up as much Sona shares from open market and are definitely voting in favor of the acquisition from Day 1 ?

Posted by Kareemabduljabbar > 2016-03-16 21:22 | Report Abuse

CS and PA are in Cliq, SONA and Reach. CS also in red sena likely fronting for PA as they did for the other spacs. You are right, CS and PA are working with all these management to ensure a successful QA. Wishful thinking indeed.

Posted by Liew Ah Onn > 2016-03-16 23:36 | Report Abuse

Sona Mother share expires in July 2016 while Sona warrant expires in July 2018. Should this QA fail to obtain shareholders approval, can Sona apply for an extension instead of distributing the cash in the trust account? Just a concern that this would delay the return of the cash distribution. Will SC be looked upon negatively if it doesn't give the extension for Sona as this would render the additional 2 years of warrant beyond the mother share as misleading!
Can the management of Sona shed some light on this?
Thank you.

Posted by YC_Ma > 2016-03-16 23:48 | Report Abuse

Tomorrow continue the wayang hihihi

Posted by T1T4N > 2016-03-16 23:57 | Report Abuse

While Malaysians are newly to SPAC,

Dato Sri Hadian, just need to meet the two major funds to discuss things out.
Assign an extra protection for the fund to make the QA ON.
If Dato Sri can get a 50% discount from seller, negotiate this out, seems easy job.
See below example from US.

Stockholders threaten to vote against
a deal, it may require the private
equity sponsor and the SPAC’s
founders to provide an incentive to
the SPAC’s stockholders to vote for
the deal. In the sale of the paper and
packaging assets of Boise Cascade to
Aldabra, Terrapin Partners Venture
Partnership and Boise Cascade
(which consists of the remaining
assets of the Madison Dearborn
portfolio company) agreed to provide
approximately 40 institutional
stockholders with contingent value
rights (CVRs). These CVRs provide
the Aldabra investors, who purchased
their shares at a price of $10.00
per share, with some downside
protection. The CVRs work as follows:
if one year from the date of the
approval of the transaction the
30-day average of the trading price
of Aldabra (the Anniversary Price) is
less than $10.50, then Terrapin and
Boise Cascade are to pay each
stockholder holding a CVR an
amount equal to $10.50 minus the
Anniversary Price, up to a maximum
of $1.00 (on a per share basis). The
payments are to be split equally by
Terrapin and Boise Cascade, and
paid in cash, stock, or a combination
of cash and stock. In exchange for
these CVRs, those stockholders
agreed to vote in support of the
acquisition.

Posted by YC_Ma > 2016-03-16 23:58 | Report Abuse

http://www.thestar.com.my/business/business-news/2016/03/15/pacific-alliance-ups-stake-in-sona-petroleum/

Posted by lly316 > 2016-03-17 00:14 | Report Abuse

If wan to vote yes, who can we appoint in the proxy form if we are not attend it?

Posted by jack2 > 2016-03-17 07:47 | Report Abuse

Federal Reserve officials held off from raising borrowing costs and scaled back forecasts for how high interest rates will rise this year, citing the potential impact from weaker global growth and financial-market turmoil on the U.S. economy.

The Federal Open Market Committee kept the target range for the benchmark federal funds rate at 0.25 percent to 0.5 percent, the central bank said in a statement Wednesday following a two-day meeting in Washington. The median of policy makers’ updated quarterly projections saw the rate at 0.875 percent at the end of 2016, implying two quarter-point increases this year, down from four forecast in December.


Weaker US dollar is good for oil price and RM Ringgit

Posted by CLIQmanagement > 2016-03-17 09:54 | Report Abuse

support 0.460 broken..

Posted by sweetkeledek > 2016-03-17 09:59 | Report Abuse

Food for thought......why would funds like PA acquire more shares at this stage? Buy at 46.5 to get back 47 months down the line, not taking into account their transaction cost?

Posted by Kareemabduljabbar > 2016-03-17 10:28 | Report Abuse

They are fixed income funds. Redemption is 48.5 cts. Where did you get 47.0 cts ? Don't believe the rubbish you read pls. Same PA buying Cliq which is going into liquidation as per bursa disclosure.

Posted by sheep > 2016-03-17 10:33 | Report Abuse

so can buy to pun? its dirt cheap. buy small small..

Posted by jack2 > 2016-03-17 12:45 | Report Abuse

Kareem - pls read Sona's comments yesterday - if liquidated, the redemption minus all cost will be around 47 cts

Kareemabduljabbar They are fixed income funds. Redemption is 48.5 cts. Where did you get 47.0 cts ? Don't believe the rubbish you read pls. Same PA buying Cliq which is going into liquidation as per bursa disclosure.


rohank71 - it was not true, I attended last year AGM. Presentation & Q&A easily 1.5 hours


rohank71 Dear Sona,

Is it true at the last AGM the Chairman and Board didn't want to answer questions from shareholder after 15 mins of Q&A session?

Posted by stockmanmy > 2016-03-17 12:51 | Report Abuse

liquidators work vely vely slow one....if 1 or 2 years, retailers die die alredi.

Posted by Mr8888 > 2016-03-17 12:56 | Report Abuse

i cannot attend the the EGM, but i want to vote yes. Can anyone give suggestion here? bcoz i don't know who is the proxy who can help me to vote yes in the EGM, i read few times already the requirement in the sona's book, but i didnt understand (i'm new but my share is in large amount), thx.

Posted by Kareemabduljabbar > 2016-03-17 13:42 | Report Abuse

All the major liquidator in town are involved with the liquidation of another malaysian spac. All the big 4 accounting firms all submitted proposals. My investor friends also obtained a legal opinion and liquidator opinion. No secret that in 30-45 days you will get 99 pct of the money and in 6-12 months you will get the balance. Only way this will take longer is if the company is insolvent ie liabilities exceed assets In which case the board and audit committee are fraudulent. They will be sued and can go to jail. Sona has about 500 mil or so in the trust. Every 1 pct is 5 mil. That is substantially more than enough for liquidation costs and fees and any taxes. Note that spac has no operating income so income tax minimal. I dunno who is spreading rumors that liquidation is less than 48.5 cts and will take 1-2 years. Pls pls pls read the prospectus, circular, and get liquidator and legal opinion. Insha Allah this will success but with share price lembap I also dunno.

Posted by jack2 > 2016-03-17 14:10 | Report Abuse

Mr8888 - you can appoint the Chairman as your proxy in the appointment section


Posted by Mr8888 > Mar 17, 2016 12:56 PM | Report Abuse

i cannot attend the the EGM, but i want to vote yes. Can anyone give suggestion here? bcoz i don't know who is the proxy who can help me to vote yes in the EGM, i read few times already the requirement in the sona's book, but i didnt understand (i'm new but my share is in large amount), thx.

Posted by sonapetroleum > 2016-03-17 15:16 | Report Abuse

Dear all, thank you for your support. Please find here additional information on the intended acquisition of Stag Oilfield: http://www.sonapetroleum.com/download/snp-stag-oilfield-2016.pdf

Posted by coolinvestor > 2016-03-17 15:34 | Report Abuse

i like that the net asset per share(nta) after the QA is 0.38. Now is 0 without QA. lol

this will only grow as the fields are being developed.

Posted by Ant > 2016-03-17 15:43 | Report Abuse

see the wa...
bustard, fear really created....
now every one loss direction...

Posted by coolinvestor > 2016-03-17 15:43 | Report Abuse

since the nta after QA is 38sen and the cashback value is 48.5sen...

assuming paid usd25mil to buy asset works out to be about rm0.0726 per share.
usd25mil x 4.1(ringgit) = rm102.5mil
rm102.5mil divide by 1.411 bil shares outstanding = rm0.0726 per share

(all in per share basis)
nta 38
48.5 minus capex 0.0726 for QA = 41.24sen per share left(cash)

add nta 38 + 41.24 = 79.24sen per share immediately after QA

am i right?

Posted by coolinvestor > 2016-03-17 15:45 | Report Abuse

even an engineer like me can calculate like that ! apa hal with all the advisors??? but i could be wrong lol

Posted by jack2 > 2016-03-17 15:47 | Report Abuse

yeah, real fear factor in wa
there were huge sellers and equal number of big buyers
tussle between the optimist & the pessimist

Posted by kakilang > 2016-03-17 15:48 |

Post removed.Why?

Posted by kakilang > 2016-03-17 15:49 | Report Abuse

Mr 8888, how many share did u have ?

Posted by speakup > 2016-03-17 15:50 | Report Abuse

just vote NO for the QA.

Posted by Old90 > 2016-03-17 15:55 | Report Abuse

Just wait till 30th March, and will know the answer. No use keep on guessing YES or NO..13 days left only. I also bought Sona shares, and I am confident the with the QA.

Posted by jack2 > 2016-03-17 15:57 | Report Abuse

coolinvestor - for me, I don't really look much on the nta
more important is the oil price
when oil price increases, the NTA will increase accordingly and all others also improve

Posted by T1T4N > 2016-03-17 15:58 | Report Abuse

Credit suisse warrant holding on Y2014 = 13 Million shares (Average price 15 sen)
Credit suisse warrant holding on Y2015 = 23 Million shares ( Average price 11sen)

Source from AGM Report 2013,2014

if QA is on, warrant price will surge more up to 100%,
or do they want a yield of 4%, with their warrant depleted?
The big question now is, is Credit Suisse a FRIEND OR FOE?

Posted by jack2 > 2016-03-17 15:59 | Report Abuse

Thanks Oldman for your confident in the deal
Hope to see you at the EGM

Posted by jack2 > 2016-03-17 16:00 | Report Abuse

TIT4N
How you know credit Suisse wa cost is 15cts & 11 cts?

Posted by T1T4N > 2016-03-17 16:04 | Report Abuse

Historical chart, AVERAGELY the warrant trade around that price.

Posted by jack2 > 2016-03-17 16:09 | Report Abuse

but need to check whether the warrant is from IPO to cornerstone investors? is credit Suisse one of the cornerstone investors?

then check Y2014 vs Y2015 - bought from market 10 M - ok
is the 13M from market or IPO?

Posted by kakilang > 2016-03-17 16:24 |

Post removed.Why?

Posted by T1T4N > 2016-03-17 16:26 | Report Abuse

The Big LONG = Buy Sona-wa NOW.
Either DIE or GAIN 100%
hahaha