Posted by speakup > 2016-03-30 14:57 | Report Abuse

jstockman, QA doesn't guarantee SONA-WA can be exchanged for 0.35! It only guarantees that you can convert to Sona mother share after you PAY 0.35. That 0.35 is called the EXERCISE PRICE of the warrant. YOU HAVE TO PAY 0.35 TO CONVERT, IT'S NOT FREE!

Posted by speakup > 2016-03-30 15:02 | Report Abuse

Datuk Seri Saw just hired a syndicate to goreng Sona. WATCH OUT!

Posted by jstockman > 2016-03-30 15:04 | Report Abuse

@speakup sorry bro, my mandarin wasn't good so maybe I read wrongly the article by EasyWong. So that means if the mother share do not drop too much, 0.46 - 0.35 = 0.11 that is what the WA worth?

Posted by cashflow > 2016-03-30 15:05 | Report Abuse

Many trying to TP at .055, hence resistance. Let's see if BB can push

Posted by Old90 > 2016-03-30 15:07 | Report Abuse

Expect more upside to come.

Posted by speakup > 2016-03-30 15:08 | Report Abuse

jstockman, if QA approved, the warrants should be trading about 0.35 lower than the mother. so if mother is 0.46, warrants should be about 0.11, give take a bit.

Posted by cashflow > 2016-03-30 15:08 | Report Abuse

Breaking .055, go go!

Posted by Bluecadilliac > 2016-03-30 15:08 | Report Abuse

Heard from somebody at the lunch that if more than 25% reject the QA it will be like Cliq and you have to wait sometimes up to 3 years for the completion of the liquidation! Does anybody know if this true?

Posted by speakup > 2016-03-30 15:09 | Report Abuse

that's called Bull Shit :-)

Posted by speakup > 2016-03-30 15:10 | Report Abuse

I prefer Bull Run, not Bull Shit

Posted by callme777 > 2016-03-30 15:10 | Report Abuse

The sentiment has changed! The QA will approve

Posted by Bluecadilliac > 2016-03-30 15:10 | Report Abuse

Cliq has been steady at 69 cents even trust account has 73.5. If 14 days can get money, there should a rush for the shares now.

Posted by cashflow > 2016-03-30 15:12 | Report Abuse

I believe in long run, warrant will hit its peak at 0.1, and if QA passed, then it will throttle higher.

Posted by speakup > 2016-03-30 15:14 | Report Abuse

all REBUUUUUTTTTTTTTT buy the warrants now....... INI KALILAH!!!!!!

Posted by Mohd Fahmi Bin Jaes > 2016-03-30 15:15 | Report Abuse

4pm down back

Posted by speakup > 2016-03-30 15:17 | Report Abuse

those who panic sold cheap, want it down so can buy back.

Posted by Bluecadilliac > 2016-03-30 15:19 | Report Abuse

Anybody can enlighten me how long will the refund be if Cannot get75% shareholders approval?

Posted by jstockman > 2016-03-30 15:19 | Report Abuse

@speakup thank you. So if buy at 0.05 still have 100% profit if QA is approved. ok, sai lang into 0.05 Q-buy!

Posted by mohdshaz > 2016-03-30 15:24 | Report Abuse

EUR/USD:

Buy at 1.1293
Take profit* at 1.1328
Stop loss at 1.1248

For more signals, Register : http://www.123contactform.com/form-1409960/

Posted by easymoney > 2016-03-30 15:24 | Report Abuse

WOW who gamble on wa this morning really making easymoney...!my common sense tell me...Management willing to do anything to get a YES else they lose everything... major shareholders if really want to reject already done so this morning... they just want more "sweet" from the managment before say yes...the odds is in favor of YES...hahaha

Posted by speakup > 2016-03-30 15:29 | Report Abuse

http://klse.i3investor.com/blogs/purelysharing/93990.jsp

Posted by Old90 > 2016-03-30 15:32 | Report Abuse

High chances QA will be approve, it is a BUY !

Posted by cashflow > 2016-03-30 15:50 | Report Abuse

I see the warrant money flow have improvised for almost -100k to -12k. This is a good buy indication, based on technical.

Posted by jack2 > 2016-03-30 15:54 | Report Abuse

Yes guys,
Majority are supporting the QA now

The adjournment of EGM is to fulfill request from many shareholders that submitted AGAINST FORMS bfore capital repayment news to resubmit SUPPORT FORM later

Now, very good chance the QA will be approved

No worry

Cheers

Posted by easymoney > 2016-03-30 15:56 | Report Abuse

speakup...u one second bull next second bear....who is this axxhole wrote based on personal view and now wrote another to cover his ass for his previous article caused those cut loss below 0.05 to lose big...


Posted by speakup > Mar 30, 2016 03:29 PM | Report Abuse

http://klse.i3investor.com/blogs/purelysharing/93990.jsp

Posted by speakup > 2016-03-30 16:01 | Report Abuse

no idea who this jayloh is. Maybe he is Jho Low brother? :-)

Posted by edryazlan > 2016-03-30 16:05 | Report Abuse

0.455 quite heavy que...a lot people want to buy at 0.455 or sell at 0.455 -.-

Posted by T1T4N > 2016-03-30 16:19 | Report Abuse

You guys so know, the only way to make ppl vote yes,is to stir the Mother Share above 48.5.
If not, major yield investors would still vote NO.

Capital Repayment does not do much, you buy 46 sen, pay you back 8 sen, the mother share price will go down to 38 sen when done.

With that, the warrant, with exercise of 35 sen, is only worth 3sen. (Even dangerous if sona mother share crash after QA)

Posted by T1T4N > 2016-03-30 16:28 | Report Abuse

Fact,
Sona-wa Exercise price is 35 sen.

Maths,
If QA on, capital reduction of 8 sen, 46 sen will become 38 sen (adjusted mother price).
The warrant worth 38-35 = 3 sen

If QA on, no capital reduction, 46 sen will remain, the warrant worth 46-35 = 11sen.



So, in conclusion, BUY AT YOUR OWN RISK.
The only way sona-wa can win (based on today price of 6 sen) is

QA on, mother share at 50sen capital reduction 8 sen, hence adjusted to 42sen.
42-35= 7sen worth.

Posted by speakup > 2016-03-30 16:46 | Report Abuse

Last time I hold 200,000 Sona shares. Now I hold 0.

Posted by MG11 > 2016-03-30 16:49 | Report Abuse

If they return 7sen, no surprise,
if the adjusted exercise price for WA is 28sen.

Posted by cashflow > 2016-03-30 16:51 | Report Abuse

Sona-wa held support. Good for this week gain.

Posted by paper123 > 2016-03-30 16:52 | Report Abuse

lol, wa, 28 cent

Posted by alexisinvestor > 2016-03-30 17:13 | Report Abuse

Company adjourned the meeting so that can it can give more time for people to think about the potential capital repayment. Mind u this is just a potential capital repayment. It is not guaranteed and not certain if a lot of shareholders voted against the acquisition. So, the quantum of the repayment can range from 0 to 7 sen. Even at 7 sen, it is not really attractive enough. What if most people vote against the acquisition, the capital repayment could just be 1 or 2 sen. Nothing to shout about

Posted by MG11 > 2016-03-30 18:00 | Report Abuse

Paper123...

Lol..you missed something.

Posted by 15% to 20% > 2016-03-30 19:14 | Report Abuse

Please dont forget the warrant can convert after the QA, and the capital repayment could be less.

Posted by 15% to 20% > 2016-03-30 19:15 | Report Abuse

Also the money may be used for share repurchase.

Estimated Distribution Amount per Share (sen) – assuming exercise of the warrants in Sona Petroleum (“Warrants”)(2)
3.54
2.28
0.94
(2)Assuming full exercise of the outstanding Warrants, save for the Warrants held by Platinum Autumn.

Posted by 15% to 20% > 2016-03-30 19:15 | Report Abuse

copied and paste from their circular

Posted by 15% to 20% > 2016-03-30 19:17 | Report Abuse

can be zero

Posted by Bull13 > 2016-03-30 20:40 | Report Abuse

This is the fact. The warrants will be CONVERTIBLE upon approval of QA. In the circular, the share buy back of those dissenting voters will reduce the quantum of capital repayment using the RM 80M. Regardless, the warrants will be convertible assuming the QA is approved. So if the mother is 48s after approval, the warrants theoretical price should be 13s. Otherwise the warrants conversion will pull down the capital repayment payout also. BTW, the capital repayment is estimated to happen in Q4 according to the announcement.
So, the REAL value play in SONA is the warrants.

Posted by tyran > 2016-03-30 21:00 | Report Abuse

since a 2nd EGM will be done, does it mean that everyone gets to vote again? Are all the proxy votes (regardless YES or NO) from this 1st EGM considered null and void?

Posted by T1T4N > 2016-03-30 21:41 | Report Abuse

Convertible, you need to top up 35sen per share to do that.
If you bought RM5k (5sen sona wa) today, you need to top up RM35k to convert your warrant to mother share after QA.

Posted by Kareemabduljabbar > 2016-03-30 23:25 | Report Abuse

Very very confusing. I hope sona management can convince new investors to buy sona shares in the market. I hope next 30 days is different from the past 3-4 weeks. Fingers crossed for a successful QA.

Posted by MG11 > 2016-03-31 07:28 | Report Abuse

Nothing is complicated. They can just exclude the WA for the CR, but
adjust the exercise to 28sen, instead of 35sen.

Posted by Bull13 > 2016-03-31 08:16 | Report Abuse

if the price of SONA goes up to 48s or higher within the next few days until next EGM, everything will be solved . Dissenters can sell to the market and full capital repayment can be made. Win win for everybody.

Posted by Chin Lai Jun > 2016-03-31 08:43 | Report Abuse

No need to hold this counter, just cut loss then invest others counter. http://www.enanyang.my/news/20160331/%E8%82%A1%E4%B8%9C%E9%9C%80%E6%97%B6%E7%A0%94%E7%A9%B6%E8%B5%84%E6%9C%AC%E5%9B%9E%E9%80%80br-sona%E7%9F%B3%E6%B2%B9%E4%BA%89%E5%90%B5%E4%B8%AD%E5%B1%95%E5%BB%B6%E7%89%B9%E5%A4%A7/

Posted by xachx > 2016-03-31 09:09 | Report Abuse

Oil per barrel increase to usd40 will this affect the price ?

Posted by speakup > 2016-03-31 09:10 | Report Abuse

Bull13, that's what i have been saying all along. If SPAC (SONA, REACH, RSENA) really want the QA, they MUST push up the share ABOVE the net cash value, otherwise they can kiss their QA bye bye. Investors see this as a measure of HOW SERIOUS the SPAC management really want the QA.

Posted by mamajeru > 2016-03-31 09:38 | Report Abuse

xachx _ the proposed oil field production cost is at 30 USD per barrel . So by purchasing them , Sona will immediately profit from this production .

Investors concern is on the oil price performance over the next 2 yrs - we can estimate oil price end of this year onwards is down the drain , but 2018 onwards we may see some improvement . ( this is my own estimation pulled from the sky )

but if qa approved i will spend more money buying the warrant ,

Posted by Yunus > 2016-03-31 09:55 | Report Abuse

With the adjournment, SONA has been given another chance by shareholders to realize the value from the STAG acquisition and be a long term player in the O&G industry.
Datuk Saw Cho Boon gave a very clear, detailed and convincing presentation as to why this so, and, I must say thanks and give him due credit for it. But there are some players going for a "quick kill" and these dissenters perhaps fail to see value (though it is their right to say NO). There is a saying "some men go through the forest and see no firewood" so lets see the "firewood" in SONA!
I believe the adjournment did justice to those who said NO without due consideration of the capital repayment (which was announced later after the proxy votes had been submitted). Lets hope the next EGM does justice to SONA, to all shareholders and to the employees.