14 mil open market dispose. why? distribute to retailers?
1. Direct Interest (Purchase through Open Market) - 700 shares 2. Direct Interest (Disposal through Open Market) 14,663,000 shares 3. Direct Interest (Off Market Disposal) 600,000 shares 4. Deemed Interest pursuant to Section 8 of the Companies Act 2016 via FoundPac Holdings Sdn. Bhd. (Off Market Disposal) - 5,000,000 Shares
that day the 5mil shares disposed of off-market at 950 on 26 sep, I guess it's the one just announce. there is another 600k shares disposed of off market at 850 on 28 sep, guess it was Lee's shares.
I have analysed the recent (from 8 Sept to 28 Sept) disposals by key shareholders (or promoters of the IPO) in total of 40 million shares.
Share price dropped after all the transactions see the attached Chart where shaded areas is the period of disposals by promoters and the price dropped after disposals. Few transactions of 26 million shares done thru the market and balance of 14 million shares was traded off market deals by DBT and price above market price as follows.
7 million was sold on 8 sept at 85 when the day market range from L80.5 to H 84.5 2 million was sold on 14 Sept at 85 when the day market range from L80 to H 81.5 5 million was sold on 26 Sept at 95 when the day market range from L87 to H 92.5
On 21 Sept Co announced (I) PROPOSED BONUS ISSUE; (II) PROPOSED ESTABLISHMENT OF AN EMPLOYEES' SHARE OPTION SCHEME; AND (III) PROPOSED SHARE BUY-BACK The bonus issue done so fast after IPO is unusual and I think is more of to boost the share price for the third placement on 26 Sept at 95 Sen
I asked myself was the pricing to deliberate mislead the market on Company’s valuation and misguided all investor to believe its undervaluation? I think more likely so
Investors or Institutions buying block of shares generally expect and get a discount from market price and at most paid market price if going forward Co performance is expected to so good and promoters can convince investors.
Just note that at 85 Sen the forward PE is 26.5 and at 95 Sen the forward PE is 29.7. Any astute investor will not pay this price unless there is price adjustment behind without public knowledge.
Is the share price being coordinated and pushed up each time for the promotors to unload their shares in the last 3 weeks. Looks likely.
Well the placement could be transferred the blocks out for warehousing for operators to goreng the share. This theory may hold water.
Anyway I bought in betting on it to be goring and would cut if touches 80 Sen. My EP is 82 and buying more if got momentum.
Have to be careful as the share is overvalued. I buy for speculation
We refer to the announcements dated 21 and 26 September 2017 in relation to the Proposals (“Announcements”).
Unless stated otherwise, definitions used in this announcement shall carry the same meaning as defined in the Company’s Announcements.
On behalf of the Board of Directors of FoundPac, TA Securities is pleased to announce that Bursa Securities has, vide its letter dated 4 October 2017, approved the following: -
(a) listing and quotation of up to 148,000,000 Bonus Shares to be issued pursuant to the Proposed Bonus Issue; and
(b) listing of such number of new ordinary shares, representing up to 10% of the total number of issued Shares of FoundPac, to be issued pursuant to the exercise of Options under the Proposed ESOS.
The approval by Bursa Securities is subject to the following conditions: -
(i) FoundPac and TA Securities must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed Bonus Issue;
(ii) FoundPac and TA Securities to inform Bursa Securities upon the completion of the Proposed Bonus Issue;
(iii) FoundPac to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Bonus Issue is completed;
(iv) FoundPac or TA Securities are required to make the relevant announcements pursuant to Paragraphs 6.35(2)(a) & (b) and 6.35(4) of the Listing Requirements;
(v) TA Securities is required to submit a confirmation to Bursa Securities of full compliance of the Proposed ESOS pursuant to paragraph 6.43(1) of the Listing Requirements and stating the effective date of implementation together with a certified true copy of the resolution passed by the shareholders in general meeting;
(vi) FoundPac is required to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the exercise of Options under the Proposed ESOS as at the end of each quarter together with a detailed computation of listing fees payable; and
(vii) To incorporate the comments by Bursa Securities in the circular to shareholders in relation to the Proposed Bonus Issue and Proposed ESOS.
In the event the new ordinary shares to be issued pursuant to the exercise of Options under the Proposed ESOS will be listed and quoted as the existing securities of the same class, quotation of the new ordinary shares will commence on the next market day after the following:
(i) Submission of the share certificate together with a covering letter containing the summary of the exercise of Options under the Proposed ESOS to Bursa Malaysia Depository Sdn Bhd (“Bursa Depository”) before 10.00 a.m. on the market day prior to the listing date;
(ii) Receipt of confirmation from Bursa Depository that the additional new ordinary shares are ready for crediting into the securities accounts of the respective account holders; and
(iii) An announcement in accordance to paragraph 13.2 of PN28 is submitted via Bursa Link before 3.00 p.m. on the market day prior to the listing date.
In the event the new ordinary shares to be issued pursuant to the exercise of Options under the Proposed ESOS will be separately quoted from the existing securities i.e. “A” shares, the listing and quotation of the new ordinary shares will take place two (2) market days upon the receipt of an application for quotation by Bursa Securities as specified under Part C of Annexure PN28-B.
FoundPac is required to ensure full compliance of all the requirements pertaining to the Proposed Bonus Issue and Proposed ESOS as provided under the Listing Requirements at all times.
Name MR ANDREW SU MENG KIT Nationality/Country of incorporation Malaysia Descriptions (Class) Ordinary Name & address of registered holder Acme Sky Sdn. Bhd. 52 (1st Floor), Jalan Lembah Permai 4, Taman Lembah Permai, 14000 Bukit Mertajam, Penang Date interest acquired & no of securities acquired
Date interest acquired 02 Oct 2017 No of securities 33,000,000 Circumstances by reason of which Securities Holder has interest Acquired 100% equity interest in Acme Sky Sdn. Bhd. Nature of interest Deemed Interest
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....
yingbinhuei
13 posts
Posted by yingbinhuei > 2017-09-30 21:13 | Report Abuse
I hv bet all rm to tis fpg share.I hv confidence to tis share.I hv hold tis share already 9 month.
F.pac = F.book