Posted by icecool > 2020-01-23 12:24 | Report Abuse

icon give the best ang pao for 2020, win liao, what a good way to begin the new year

Posted by ferdtwh > 2020-01-23 12:24 | Report Abuse

1) Share consolidation of every 50 existing ordinary shares in Icon Offshore Berhad ("Icon") ("Existing Shares") into 1 consolidated share in Icon ("Consolidated Share(s)") as at 5.00 p.m. on Thursday, 23 January 2020 ("Entitlement Date") ("Share Consolidation")


2) Renounceable rights issue of up to 2,354,370,200 new ordinary shares in Icon Offshore Berhad ("Icon") ("Rights Shares") on the basis of 100 Rights Shares for every 1 ordinary share in Icon held after the share consolidation, together with up to 588,592,550 free detachable warrants ("Rights Warrants") on the basis of 1 Rights Warrant for every 4 Rights Shares subscribed for, as at 5.00 p.m. on Thursday, 23 January 2020 at an issue price of RM0.105 per Rights Share ("Rights Issue with Warrants")



Kindly be advised of the following :

1) The above Company's securities will be traded and quoted "Ex - All” as from: 22 Jan 2020
2) The last date of lodgment : 23 Jan 2020

3) Retention Money: Where securities are not delivered in time for registration by the seller, then the brokers concerned:-
a) Selling Broker to deduct<100/101>, of Selling Price against the Selling Client
b) Buying Broker to deduct <10%>, of Purchase Price against the Buying Client
c) Between Broker and Broker, the deduction of <100/101>, of the Transacted Price is applicable.



Remarks 1 ):-Participating Organisations are to take note of the following Share Consolidation exercise by ICON OFFSHORE BERHAD.



The Share Consolidation comprises the following:-

SHARE CONSOLIDATION OF EVERY 50 EXISTING ORDINARY SHARES IN ICON OFFSHORE BERHAD (“ICON”) (“EXISTING SHARES”) INTO 1 CONSOLIDATED SHARE IN ICON (“CONSOLIDATED SHARES(S)”) HELD AT 5.00 P.M ON THURSDAY, 23 JANUARY 2020 (“ENTITLEMENT DATE”) (“ SHARE CONSOLIDATION”).



In relation to the Share Consolidation undertaken by ICON as a SPEEDS Corporate Exercise, Bursa Malaysia Securities Berhad would like to highlight that:



(a) on or after the Ex-date on 22 January 2020, trading of ICON shares will be based on the newly adjusted share after the Share Consolidation of ICON shares,



(b) on the basis of settlement taking place after 23 January 2020 with consolidated ICON shares, any entitled shareholder who owns ICON shares as at Ex-date may sell only up to the maximum ICON shares he expects to receive after the Share Consolidation, i.e. the reduced amount, on or after the Ex-date 22 January 2020.



With the adjustments pursuant to the Share Consolidation effected on ICON shareholders’ CDS account at the end of the Entitlement Date (“Books Closure Date”), an entitled ICON shareholder may use the following basis to estimate the maximum number of ICON shares that he may sell from the Ex-date until the Book Closing Date which is from 22 January 2020 until 23 January 2020.



Number of ICON shares that may be = Number of shares held / 50

sold on 22 January 2020 until 23 January 2020 (All fractional shares computed should be disregarded)



Illustration:

For example, if Mr X owns or purchases 5000 ICON shares on cum basis on 21 January 2020, his CDS account would still show 5000 ICON shares until 23 January 2020. However, as a results of the above Share Consolidation exercise, Mr X’s 5000 ICON shares in his CDS account will be adjusted to 100 ICON shares on the night of 23 January 2020 which is the Book Closing Date. Therefore, Mr X may, if he so wishes, sells only up to 100 ICON shares on or after the Ex-date i.e. from 22 January 2020 onwards.



Participating Organisations are hereby requested to caution all dealers and remisiers that, during the period from 22 January 2020 until 23 January 2020, they are only entitled to sell the maximum of 1/50 of the shares owned before the Ex-date. Participants Organisations are reminded that it is important to caution all dealers and remisiers on the above to prevent the dealers and remisiers from overselling of their client’s position.



Remarks 2) :- The Share Consolidation entails the consolidation of every 50 Existing Shares into 1 Consolidated Share as at 5.00 p.m. on Thursday, 23 January 2020. The Consolidated Shares will be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad on 24 January 2020, being the next market day immediately after the Entitlement Date ("Listing Date"). A notice of allotment will be issued and despatched to the entitled shareholders for the Share Consolidation at the addresses set out in the Record of Depositors within 4 market days after the Listing Date.

Posted by ferdtwh > 2020-01-23 12:25 | Report Abuse

Remarks 3) :- The entitlement for the Rights Shares and the Rights Warrants shall be effected after the share consolidation by Icon, the entitlement date of which is 5.00 p.m. on Thursday, 23 January 2020. The Abridged Prospectus together with the Notice of Provisional Allotment ("NPA") and the Rights Subscription Form ("RSF"), will only be despatched to the shareholders of Icon whose names appear on the Record of Depositors as at 5.00 p.m. on Thursday, 23 January 2020 ("Entitled Shareholders") at their address in Malaysia or who have provided the share registrar with an address in Malaysia in writing by 5.00 p.m. on Thursday, 23 January 2020. The Abridged Prospectus together with the NPA and RSF will not be sent to the foreign Entitled Shareholders and/or their renouncee(s)/transferee(s) (if applicable) who do not have a registered address in Malaysia. Foreign Entitled Shareholders who are without an address in Malaysia and wish to provide a Malaysian address, should inform their respective stockbrokers to effect the change of address by 5.00 p.m. on Thursday, 23 January 2020.

Posted by 8888_ > 2020-01-23 12:26 | Report Abuse

Lucky Icon no merger with Velesto. 70 sen today is more than 50 sen when proposed.

Posted by Lich > 2020-01-23 12:26 | Report Abuse

rosloam, unlikely, 20-40 sen over a share base of 2.6billion shares would require Icon to be a RM500m - RM1.0b market cap company. Its market cap was about RM40m prior to the ex-date. Surely, the fundamentals have not changed so much in a month.

Posted by Mabel > 2020-01-23 12:26 | Report Abuse

@arcadicus yesterday, someone said today confirm come down one... but another limit up
23/01/2020 12:03 PM

That's why my Mummy always reminds, don't listen to stranger..

Just lock your profits, make that call to buy or not than just ride the waves..

Maybank usually are very stringent in their evaluation. They have been consistently give a Buy call on Icon..

For me that's good enough for me to take my next step..

My experience with Serba was great so was with La Farge. This gives me confidence to ride this waves..

Posted by Lich > 2020-01-23 12:27 | Report Abuse

For goodness sake, Serba is not Icon. Serbas has been a consistent performer since its IPO. Whereas Icon has been destroying shareholder's value since its IPO.

Posted by Mabel > 2020-01-23 12:27 | Report Abuse

My question still remain,

Who would have though that Icon can break 70 today?

Hands up?

Posted by jaynetan > 2020-01-23 12:28 | Report Abuse

roslaom, do u understand what it mean by designated stock?

I wonder how you.....

roslaom Before 20 feb, icon can go as high 1.60. Now designated stock already.

Posted by setia2u > 2020-01-23 12:29 | Report Abuse

ON THIS COMMENT :

roslaom The new icon shares and free warrant will be listed on 20 feb. As price adjusted accordingly, maybe about 20 - 40 sen only.

Let's see then, but judging from previous experience, you might be happy enough to get 15.0 sen upon listing. Don't forget, by then issued share is 2.3Bil with most of it at cost of 10.5 sen only!!!

Posted by Mabel > 2020-01-23 12:29 | Report Abuse

@roslaom No sell down lah tommorow. Tommorow, u can sell ur rights for about half a sen. Icon needs capital injection from shareholders to pay debt. If u love this company and believe the future performance, go find money to give icon.
Warrant exercise price 0.165.
20 feb, shares price will adjust accordingly.
Warrant intrinsic value will depend on mother share. But normally will be out of money. Who knows, maybe warrant could be in the money.

Icon cannot IDSS lar.
23/01/2020 12:10 PM

Thank you roslaom!

Posted by W0099 > 2020-01-23 12:30 | Report Abuse

Sis Mabel u are here ? That’s really unbelievable:-)

Posted by ferdtwh > 2020-01-23 12:31 | Report Abuse

of course break 0.70 , since our shares will be divided by 50

Posted by tai yee > 2020-01-23 12:31 | Report Abuse

Bought yesterday , sell today, contra gain 100% profit. unbelievable.

Posted by W0099 > 2020-01-23 12:32 | Report Abuse

1 sen can up to 71 sent wow

Posted by ferdtwh > 2020-01-23 12:32 | Report Abuse

it should reach RM 2 in order to cover our shares dilution / consolidation

Posted by Lich > 2020-01-23 12:35 | Report Abuse

Invincible Greed knows no boundary.

Posted by monetary > 2020-01-23 12:39 | Report Abuse

u buy on dividend ex date u entitled to dividend or not? kikiki...

Posted by Lich > 2020-01-23 12:40 | Report Abuse

what dividend?

Posted by Mabel > 2020-01-23 12:41 | Report Abuse

@W0099 Sis Mabel u are here ? That’s really unbelievable:-)
23/01/2020 12:30 PM

Yes Wendy, I'm here too...

ICON Royal Fortunes is one of my 11th Fossil Fuel Battleships. I name all my Battleships after the ships in Pirates of the Caribbean

Let's Hoist the colors ...

https://www.youtube.com/watch?v=U787XGwZE90

Posted by monetary > 2020-01-23 12:43 | Report Abuse

Lich. I replied to the eatlier comment. I wonder what's tomorrow's limit down price for OR. even limit down price is unbelievablely good. Couldn't b so good. I don't believe it.

Posted by W0099 > 2020-01-23 12:46 | Report Abuse

Still can go up sis? Wow unbelievable 1 cent can go up 7 cent... :-)))

Posted by anzo888 > 2020-01-23 12:49 | Report Abuse

For the sake of a few, i would like to share my view on icon, which many will curse me. frankly, i can only think of 2 reasons why icon can be pushed from an ex all price of 11.5 sen.

Posted by anzo888 > 2020-01-23 12:51 | Report Abuse

1... the number of shares was reduced by 50 times. anyone holding 50000 shares will only have 1000shares after the consolidation. So shares are extremely limited.

Posted by W0099 > 2020-01-23 12:52 | Report Abuse

Sis Mabel do u have a group chat can u add me in please!

Posted by Mabel > 2020-01-23 12:54 | Report Abuse

Wendy

If you are just coming into ICON Battleship, my advice is to wait until they float the RI shares.

Right now, it can still go higher as the no of shares has been consolidated.

Anything is possible. If I can see the future, I won't be here :)

Cheers!

Posted by anzo888 > 2020-01-23 12:55 | Report Abuse

2.... the price has to be pushed up so that the rights issue will succeed. Who will want to subscribe to the rights if the mother share is only 20 sen, knowing , upon listing of the rights shares, price will plunge as the rights is HUGE. 100:1

Posted by Mabel > 2020-01-23 12:56 | Report Abuse

@W0099 Sis Mabel do u have a group chat can u add me in please!
23/01/2020 12:52 PM

Just communicate it here. We have a very good Team here.

I have too much chat groups already...too much to handle..

Hahaha


Cheers!.

Posted by anzo888 > 2020-01-23 12:58 | Report Abuse

For those who intend to buy, it is very risky. Anyone who bought yesterday n today will not be entitled to the ORs.

Posted by anzo888 > 2020-01-23 13:01 | Report Abuse

This battleship will meet its WATERLOO. Could be as early as this afternoon. I would be extremely suprised if icon can be at 20 sen when the rights are listed next month

Posted by anzo888 > 2020-01-23 13:10 | Report Abuse

Just imagine how dangerous it is..... when u have people comparing current icon price at 71 sen with Velesto at 37 sen.... Dont they know they the 71 sen is a consolidated price???

Posted by W0099 > 2020-01-23 13:17 | Report Abuse

Hahaha okok sis. Please give me a note if any potential stock yea. Cheers sis!

Posted by Shareview123 > 2020-01-23 13:30 | Report Abuse

If they maintain the price above 0.50 or 0.60 for the next few days, most likely the plan is to distribute OR forms.

Posted by ttgipoh > 2020-01-23 13:33 | Report Abuse

what is the OR price tomorrow

Posted by Mabel > 2020-01-23 13:35 | Report Abuse

@Lich For goodness sake, Serba is not Icon. Serbas has been a consistent performer since its IPO. Whereas Icon has been destroying shareholder's value since its IPO.
23/01/2020 12:27 PM

I didn't buy from IPO.. Same with Serba I buy from the open market.

All my shares are bought from the open market..

Posted by Lich > 2020-01-23 13:40 | Report Abuse

Mabel @Lich For goodness sake, Serba is not Icon. Serbas has been a consistent performer since its IPO. Whereas Icon has been destroying shareholder's value since its IPO.
23/01/2020 12:27 PM

I didn't buy from IPO.. Same with Serba I buy from the open market.

All my shares are bought from the open market..


I didn't say you did.

Posted by Shareview123 > 2020-01-23 13:43 | Report Abuse

Ex date is 22 Jan 2020, it means those who bought on 22 Jan 2020 is not entitled. Only those who bought on 21 Jan 2020 is entitled to the right issue.

Posted by CharlesT > 2020-01-23 13:44 | Report Abuse

19h+ to tmr 9am...c whether yr reputable boss gives u big angpao for cny

Posted by CharlesT > 2020-01-23 13:46 | Report Abuse

Boss has to be a genius if he pushed up mother price this 2 days so as to sell his OR at high price...lol

Posted by Mabel > 2020-01-23 13:54 | Report Abuse

@Invincible Mabel you are wrong, today's price should be 1.75 = 50 x 3.5 cts. so those who bought on 22/1/20 lose 50% even if they sell.

those buy today will still entitle to RI and wa; by tomorrow, the price will be adjust to 100 x 0.105 cts + 0.715 / 101 that will be 11 cts. if wa included than it will be adjusted to 9 cts.

for those bought yester or today, congratulate and hope you all take your ang pau, dont be greedy. it wont go up anymore after diluted by RI tomorrow..
23/01/2020 12:36 PM

Cheers Invincible..

From my spreadsheet ICON's Margin is currently doing great.

Let see how she performs after the RI...

Now suddenly I have two babies to take care instead of one..Mother shares and the Warrant. Here's the best part I got the warrant for free just like Serba..

How lovely...

Posted by mf > 2020-01-23 13:54 |

Post removed.Why?

Posted by Karlos > 2020-01-23 14:25 | Report Abuse

Price will shoot up further. Many people oversold especially yesterday which will have to be covered at whatever cost. Some brokers do not adjust the price to xright.

Posted by Karlos > 2020-01-23 14:27 | Report Abuse

Many still trapped!

Posted by Starbuckee > 2020-01-23 14:29 | Report Abuse

mabel, if those who buy on 21 jan? example they buy 50000 icon that cost them 50000 x 0.035 = RM1,750. tomorrow they will left (1,000 x RM0.11 + 100,000 x 0.105) = RM10,610 ???

that's is instant profit also

Posted by Lich > 2020-01-23 14:31 | Report Abuse

Instant loss

Posted by Karlos > 2020-01-23 14:34 | Report Abuse

Not adjust volume to xright, sorry

Posted by Karlos > 2020-01-23 14:36 | Report Abuse

50 should become 1 after consolidation for xright

Posted by Karlos > 2020-01-23 14:38 | Report Abuse

Forced buy back to cover mistaken shorts.

Posted by Karlos > 2020-01-23 14:41 | Report Abuse

Tomorrow limit up again!!

Posted by ktham > 2020-01-23 14:46 | Report Abuse

simply put, those who bought before 22-Jan stand to lose money (including myself). This is due to the share consolidation 50:1, and while we expect the price will be adjusted to around 1.75 in order to reflect the same value. Unfortunately this didn't happen. The real winners are really those who bought yesterday (and keeps until today market closes) as their entry cost is much lower while they still entitled to the RIs and Warrants (if they subscribe la). The game has not ended and i really believe 2020 is the year for O&G, and chances are we have to subscribe to the RI to continue this ICON journey in order to make money.