PNB control 45% stake (ASB alone have 32%) + KWP 7% + EPF 9.6% = GLC total control 61.6%.
If minority didn't subscribe their right, PNB have undertaking to sapu all to increase its stake further but in the form of RCPI (unlisted, convertible after 5year with 0% interest), thus can reducing overhang share in open market.
The combine force from PNB control 45% stake (ASB alone have 32%) + KWP 7% + EPF 9.6% = GLC total control 61.6%, will ensure steady recovery of these state own oil and gas stock----> UMWOG
Portfolio now have option to use cash proceed today from disposal UMWOG to either use to subscribe all UMWOG-OR at 30sen and entitle free warrant OR trade UMWOG-OR to reap PROFIT
Yes, today is ex-right already, if you sell today, you still entitle upcoming UMWOG-OR, each UMWOG share holding will get 2.8 share UMWOG-OR which give you right to subscribe rigth share at 30sen + FREE WARRANT (7 year lifespan, exercise price at 39.5sen)
Just a question: if i buy in 10000 units umwog today, will i entitle for rights? Can i sell them if i do not want to purchase the rights? Thanks. Btw hw much rights do i get n the offer price?
Q1: if i buy in 10000 units umwog today, will i entitle for rights? A1: NO, you are no entitle right UMWOG-OR as today is ex-date alrdy
Q2: Can i sell them if i do not want to purchase the rights? A2: Yes, you can freely trade UMWOG-OR within 7 trading period if you entitle
Q3: hw much rights do i get n the offer price?
A3.1. Each 1 share UMWOG entitle 2.8 UMWOG-OR share A3.2. each 1 share UMWOG-OR can subscribe 1 right share at 30sen, A3.3. Every 4 right share subscribe entitle 1 free warrant
Hi hng 33 - it says that : "Renounceable rights issue of up to 6,053,600,000 new ordinary shares in UMW Oil & Gas Corporation Berhad ("UMW-OG") ("Rights Shares") at an issue price of RM0.30 per Rights Share on the basis of fourteen (14) Rights Shares for every five (5) ordinary shares in UMW-OG held as at 5.00 P.M. on 25 September 2017,"
If sold today still can get the right issue?? Sure?
The above Company’s securities will be traded and quoted “Ex-Rights Issue” as from: 20 Sep 2017
So, today is 20 sept 2017, is a date for ex-date. UMWOG have adjust down 1 sen to reflect these ex-entitlement, from yesterday 31sen closed to today opening reference at 30sen. therefore, whoever buy today is NOT entitle right anymore
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....
hng33
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Posted by hng33 > 2017-09-19 09:29 | Report Abuse
moving