Last time I play warrant if the company got potential its up big.This time I play Ages-Preference shares.Putting rm 20k.Seing the company increase in profit 3 consecutive quarter.Got Ong.
Mother AGES moving far ahead of daughter AGES-PA in price and volume, daughter shall run faster..will turn into mother one fine day. Added more daughters AGES-PA for the mother and daughters race. Happy Trading
Very difficult to average down Ages-PA below 3sen, as usually long queue buy at 2.5sen. I think more difficult tomorrow onwards as more will 'open' eye with so much good comments...Happy Trading.
@IAN1277, I have gone through the proposal document, IMHO there will be before and after issuance effects.
Before: There will be more AGES-PA conversion to mother shares to capture the rights to subscribe. The share price will not be so much affected.
After: Unless AGES-PA exercise price reduces to match ICULS exercise price, AGES-PA will play second fiddle to ICULS. Typical examples will be those counters having A, B and C warrants; the more recent warrant usually will have more attention.
Due to the major increase in issuance size, it is very hard for shares price movement. Any increase in shares quantity will spread out the funds available.
On another note, the proposal is well written with all the scenarios covered. So far, I liked Agesion reporting on their corporate movement. I hope their projects will be successful amid increasing risk..
Happy Trading
Disclaimer: This opinion for sharing purpose; not meant for buy, sell or hold recommendation.
Interesting move happening at AGES-PA; yesterday 60 million shares taken out at 2.5 sen (buy call at 3 sen before afternoon opening), today no more ticket at 2.5 sen!!. Will monitor next few days to see what is the next move..Happy Trading
I think that this counter has been tightly controlled by big players. They control when to push it up or DOWN. The only way ikan bilis to counter (react) to this sort of unfair game is to HALT trading and dont buy or sell, it it DIE naturally.
Meaning whatever ICULS or PA exercise they wish to push, we do NOT participate all of these later. Thus the big player will fail in their funds raising purposes. And we shall see who will be suffering more.
Once the retailer individual react in this way, they will have no choice but to reverse their strategy and then the share price might have a little chance to revere.
Let's us ikan bills UNITE together and do the above to protect our investment.
When market is doubtful about the financial reports, it also will begin to doubt the integrity of the management team. There is only one way for the share price to go. Personally, I think I would have more faith in the financial reports of the previous management. At least they had reported little profit or losses in the few years before taken over by a new kid in town who had no experience in building & construction bushiness but magically could turn the Company into flying profits every quarter, more amazingly in the midst of MCO's. Even the most reputable and profitable Companies in this line of businesses have been struggling in the last two years.
Wake up to the reality ! Even if you are not trained in accounting, if you care to read more carefully the financial reports of AGES it is not that difficult to spot some RED flags. Easy to spot red flags include 1. Profits reported were non cash in nature 3. Without cash input from issuing PA and PA conversion, highly negative operating cash-flows 3. Quarter after quarter, there were suspicious and un-justifiable increase in Good Will, the amounts correspond roughly to the paper "profits" made. 4. There were no tax paid or allocated in the financial reports for the last 7 quarters. Does this not clearly tells us that the impressive "profits" reported quarter after quarter were just some sort of accounting "paper profits" not liable to tax.
To be polite, it is called "creative accounting". To be honest, I think it is very unfair to the investing public. It would be wise to put a big question mark on the integrity of reporting and the best course of action one could take.
My understanding: 1) Prinsiptek Corp Bhd had its name changed to AGES Berhad after current management took over as major shareholders. 2) All debts, guarantees and other liabilities previously given by or incurred by Prinsiptek Corp Bhd will remain as debts/ liabilities and corporate guarantees of AGES Berhad. The same principles applies for the assets owned by and receivables due to by Prinsiptek Corp Bhd are assets and receivables inherited by AGES Berhad. You cannot run away from debts and liabilities by changing name. It is not possible to have the right to inherit the assets and receivables under Prinsiptek Corp Bhd but refuse to inherit the liabilities and payable. 3) All payments which were made under AGES Berhad would be under the purview and scutiny of the current management. Had there been wrongful claims and payment made by AGES berhad, the current management should have put a stop to it. In fact they are answerable to shareholders for negligence and lack of supervision for making payment to fraudulent claims.
4) Statement like "despite Prinsiptek no longer being either a subsidiary or even an associate of Ageson, the company continued to make payments to Maybank in order to discharge its obligation under the corporate guarantee" can be very misleading to the public and the small shareholders shifting the wrongs solely to other people. I would even consider it as a rather irresponsible statement to mislead investors.
5) Losses incurred by the subsidiaries under Prinsiptek Corp Bhd are losses that have to be accounted by AGES, period. The new management must not just keep balloon up the so called Goodwill. I think this is not allowed under financial accounting.
There were so many red flags in the financial reports since the new management took over. It is not difficult to begin to guess that it might just be a smoke screen that can easily confuse the public, and giving them false hope for potential mismangement.
I like people who use "My understanding" to comment. XD
Whenever Prinsiptek Corp Bhd is on board, the accounting also not that nice la.
Did empty project and lie to the investor.
If you let me choose. I will prefer Ages more. Smoke screen or what, I don't care. The share price is what everyone concern, at least let u earn few wave at nice timing lo.
Update - ICULS proposal aborted. What is the After effect of the proposal cancellation? AGES-PA no more play second fiddle. Attention will come back to AGES-PA, I hope. - will AGES-PA be the source of quick funds as mentioned alternative? Each AGES-PA can raise 12sen, but the mother (AGES) is trading at 9sen. NTA of AGES as per last QR is 26sen, AGES present trading price is considered undervalue? With ICULS aborted, most likely 'the dilution' effect will balance to a manageable level...time will tell what will be the balance AGES-PA trading price. TradeAtYourOwnRisk.
BLee @IAN1277, I have gone through the proposal document, IMHO there will be before and after issuance effects.
Before: There will be more AGES-PA conversion to mother shares to capture the rights to subscribe. The share price will not be so much affected.
After: Unless AGES-PA exercise price reduces to match ICULS exercise price, AGES-PA will play second fiddle to ICULS. Typical examples will be those counters having A, B and C warrants; the more recent warrant usually will have more attention.
Due to the major increase in issuance size, it is very hard for shares price movement. Any increase in shares quantity will spread out the funds available.
On another note, the proposal is well written with all the scenarios covered. So far, I liked Agesion reporting on their corporate movement. I hope their projects will be successful amid increasing risk..
Happy Trading
Disclaimer: This opinion for sharing purpose; not meant for buy, sell or hold recommendation.
Remarks : The conversion price of the ICPS, cash payment for conversion of the ICPS and number of outstanding ICPS (which are not converted into new Shares prior to the Entitlement Date) shall be adjusted pursuant to the Share Consolidation and in accordance with the provisions of the Company's Constitution ("Adjustments").
The outstanding ICPS will be consolidated on the basis of every 15 ICPS held by the entitled holders of ICPS of the Company (whose names appear in the Record of Depositors of the Company at 5.00 p.m. on the Entitlement Date) ("Entitled ICPS Holders") into 1 ICPS ("Consolidated ICPS"). Fractional entitlements for the Consolidated ICPS arising from the Adjustments, if any, shall be disregarded and dealt with by the Board of Directors of the Company in such manner at its absolute discretion as it may deem fit or expedient and in the best interest of the Company.
Pursuant to the Adjustments, the existing number of ICPS of 3,814,226,509 ICPS will be adjusted into a maximum number of 254,281,767 Consolidated ICPS. The actual number of Consolidated ICPS would depend on the number of outstanding ICPS which are not converted into new Shares prior to the Entitlement Date.
Further, pursuant to the Adjustments, the conversion price of ICPS and cash payment for conversion of ICPS will be adjusted to as follows:
(a) existing conversion price of ICPS of RM0.13 each will be revised to RM1.95 each; and (b) existing cash payment for conversion of ICPS (based on the conversion mode of surrendering 1 ICPS with additional cash payment for 1 new Share) of RM0.12 each will be revised to RM1.80 each.
The Consolidated ICPS will be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad on 13 April 2022 ("Listing Date"), being the next market day following the Entitlement Date.
The notice of allotment of the Consolidated ICPS will be issued and despatched to the Entitled ICPS Holders at the addresses set out in the Record of Depositors of the Company as at the Entitlement Date within 4 market days after the Listing Date. The notice setting out the details of the Adjustments will be issued and despatched to the Entitled ICPS Holders in due course.
The Share Consolidation will result in a reduction in the number of ICPS available in the market and the trading price of ICPS will be adjusted accordingly in proportion to the basis of the Share Consolidation.
Holders of ICPS who wish to be entitled to the Share Consolidation as the Company's shareholders shall exercise their rights to subscribe for new Shares by lodging their duly completed conversion forms together with the relevant subscription monies with the Share Registrar of AGESON (at the address stated above) on or before 5.00 p.m. on Thursday, 31 March 2022 such that their names will appear in the Record of Depositors of the Company at 5.00 p.m. on the Entitlement Date.
This announcement is dated 29 March 2022.
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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....
Josephine Tan Su May
127 posts
Posted by Josephine Tan Su May > 2020-06-01 17:52 | Report Abuse
Nice price.....