| KLSE : KBUNAI || || KARAMBUNAI CORP BHD |
|Last Price ||Today's Change || Day's Range || Trading Volume |
|0.045 || 0.00 (0.00%) || 0.045 - 0.045 || 215,000 |
|Market Cap: || 264 Million |
|Shares: || 5,877 Million |
|P/E | EY: || -23.17 | -4.32% |
|DY | Payout %: || 0.00% | - % |
|NAPS | P/NAPS: || 0.1429 | 0.31 |
|Avg Volume (4 weeks):||1,111,710|
|4 Weeks Range:||0.04 - 0.055|
|52 Weeks Range:||0.04 - 0.06|
|Average Price Target:||-|
TheContrarian Takeover rules require that any shareholder who owns more than 50% and intends to buy more than 2% must make a general offer to all remaining shareholders unless he obtains an exemption from SC.
TheContrarian Takeover rules also require an investment bank to be appointed to ensure all procedures are properly carried out.
TheContrarian Actually Chen can apply for exemption of the 25% public spread rule to keep the Company listed but he doesn't want to do so.
GiveMeFive With the announcement of the revised NTA of no less than RM0.21, hopefully a foreign fund with buy up all the "dirt" cheap shares from the market.
leemei don't sell first unless the offeror can acquire 90% of the shares
GiveMeFive Hi, thanks to care to explain why Chen needed to use the service of RHBIBB. Care to share your option? :)
leemei i will waiting for fuher announcement, you can refer the star, the edge & nanyang newspaper dated 30th May
ReturnInvestor Will there a battle going on? Will it create a win-win situation?
TAH Just hold tight till the next offer. tell to Dr Chen we are not HAK YEE
GiveMeFive A kaki of mine was very upset about this unfair takeover and bet to fight till fairness prevails even meaning RM25,000 (5,000 lots x 0.05) vaporized.
TAH I hope Dato Dr Yu Kuan Chon of YNH come into picture.
Mowwwa In addition, the Board wishes to announce that KCB has today received a press notice from RHBIB, on behalf of the Offeror, informing that the Offeror does not intend to revise the offer price of RM0.05 per Offer Share and RM0.02 per Offer Warrant in relation to the Offer. Please refer to the attached press notice for further details.
Mowwwa ARE THEY BUYING TO MAKE IT 25% OF HOLDING?
Mowwwa n respect of the valid acceptances received from the accepting holders for the Offer thus far, the Board wishes to announce that KCB has today received a press notice from RHBIB, on behalf of the Offeror, informing that the percentage of public shareholding spread of the Company as at 25 May 2016 is 23.85%. Consequently KCB is deemed not in compliance with the public shareholding spread requirement under Paragraph 8.02(1) of the Listing Requirements which stipulates that a listed issuer must ensure at least 25% of the total listed shares (excluding treasury shares, if any) are in the hands of public shareholders.
Mowwwa IF NO SELLER AT 5C THE MGO COULD NOT BE DONE. AM I RIGHT? UNLESS HE MAKE NEW OFFER
GiveMeFive Chen has all the rights to takeover a listed company. He sure won and even be honoured if he care about the minority shareholders.
taitaumau In the event, say DR Chen and his PAC (FACB) fail to hold > 90%
of the issued & paid-up capital in KCB
May i share with you the following bursa listing requirements:
CONTINUING LISTING CRITERIA
8.02 Compliance with shareholding or unit holding spread requirement
(1) A listed issuer must ensure that at least 25% of its
total listed shares (excluding treasury shares) or listed
units are in the hands of public shareholders or unit holders.
The Exchange may accept a percentage lower than 25% of
the total number of listed shares (excluding treasury
shares) or listed units if it is satisfied that such
lower percentage is sufficient for a liquid market in such
shares or units.
16.06 Request for withdrawal
(1) A listed issuer may not request to withdraw its listing
from the Official List, unless -
(a)the listed issuer convenes a general meeting to obtain its
shareholder or unit holder approval and a separate meeting
for the approval of the holders of any other class of listed
securities, if applicable
(b)the resolution for the withdrawal of its listing is
approved by a majority in number representing three
fourths in value of the shareholders or unit holders and
holders of any other class of listed securities, if applicable,
present and voting either in person or by proxy at the
meetings and provided that such shareholders or unit
holders and holders of any other class of listed securities
who object to the withdrawal is not more than 10% of the
value of the shareholders or unit holders and holders
of any other class of listed securities present and
voting either in person or by proxy. Where the
constituent document of the listed issuer imposes a stricter
condition in respect of the votes required to approve the
withdrawal of listing, such stricter condition will apply in
substitution of the foregoing provision;
(c) the shareholders or unit holders and holders of any other class
of listed securities, if applicable, are offered a
reasonable cash alternative or other reasonable
alternative (“exit offer”); and
(d) the listed issuer appoints an independent adviser,
which meets the approval of the independent directors, to
advise and make recommendations for the consideration of
the shareholders or unit holders and holders of any other class
of listed securities, if applicable, in connection with the
withdrawal of its listing as well as the fairness and
reasonableness of the exit offer.
Under the above scenario, based on my understanding:-
(1) Bursa may let KCB to maintain its listing status
(2) DR Chen/PAC may fail to obtain majority in number of members in EGM
(3) Exit offer usually will not be lower than 5 cents per share
(3) Last resort, minority shareholders can take up exit offer
firehawk today chan lip keong buy from open market @0.05 ah?
TheContrarian Those shareholders who refuse to sell @ 5 sen can take matter to court to ask for a higher more reasonable price. However, you need to appoint a solicitor and pay the solicitor unless he willing to work for free (like the late Karpal Singh) but if you lose the case, court can award costs against you.
pvjsabah Exactly who are you The Contrarian.....for someone who sold all his shares a long time ago......you have a lot to say to us . SO do you want us all to accept the DR's offer and not put up a stand.....you have some interesting points but your intentions seem rather dubious.......just an observation......... but is your intentions are well meant.....I thank you.
TheContrarian Now I just a busybody lah trying to provide information/options/alternatives/warnings to you people but at the end of the day it's all your decision.
pvjsabah True...... Just thought you were working for the Doc.......at least it seemed like......
TheContrarian To frustrate Chen you need to collectively own 20% and then make a takeover bid of FACB Industries which owns over 5%. I don't think any group of people has the financial resources to fp that.
pvjsabah Ok...... Thank you
GiveMeFive Victim of delisted companies, my friends you are not alone lah :(
TheContrarian But we must learn from it and not to be a victim again. Bursa saham and SC don't really protect the interest of the minorities.
GiveMeFive This double takeover is too glaring that the minority shareholders are bring cornered and unfairly treated. If not careful, the IPS's IAC could render the authorities to disapprove the takeover and derail this plan.
George99 Thecontrarian. Ur information is not all correct.
hon vui chin We just do not know what is cooking!
lhm3061 sin chew daily... cover...sunsuria city... maybe the boss want cooking land...cau kbunai got land... neardy....ayoayo....
Mowwwa so end of karamhunai ...
Mowwwa Whos buying at 5.5c for 13m share? I dont understand...the offer just was 5c
prudentinvestor Maybe Chen is buying. The independent adviser has advised small shareholders to reject the 5 sen per share offer. As of 26/05/16, 23.86% of KBunai shares were still being held by the public. Chen needs to own at least 90% of KBunai shares for the unconditional voluntary take over offer to become successful.
Mowwwa 2 more day left...can he?
oldchinaman he is too greedy, his nagocorp listed in hong kong worth 12.35billions.,now he want to rob all the poor helpless retailers.he is 70years old ,he think he can bring all the money to the other world.
cinapeh be fair a bit to retailers la,is not healthy one ppl rich and thousands poor
oldchinaman rich become richer poor become begger
WarrenLim Anyone know what is the case now?should i hold or just sell it 5sen?CalvinTaneng?
Doggi The reason why Calvin Tan from Singapore investment is so deadly & always failed. In order to make from the market the actual fact is Timing, Calvin Tan investment is always off market timing. Read to understand more : http://www.thestar.com.my/business/business-news/2016/06/25/btoto-slide-raises-questions/
chanky50 Investment strategy is depended on individual financial capability and flexibility. Calvin Tan is rich and has lots of spare money. He has holding power like Warren Buffett and he has the bullets to buy all the way down. I guess, for him perfect timing is good but not critical as those small capital trader. The point here is you can follow him if you are as rich as him. Same thing I can't follow Warren Buffet strategy because I am a small investor with small capital. My time frame is shorter and I can take higher risk aiming for higher return. I can even go for short term trading on lousy but speculative stocks, hit and run, that Warren Buffett will never do.
chanky50 My main point is - have your own investment strategy. you may take others opinions but do some research and don't follow blindly.
ibull Dr Yu Kuan Chon of YNH now top 2 warrant holder @38.1 mil / 3.76% per Karambunai 2016 Annual Report....any idea why he build this stake?..(2015=nil).
tobuy2006 fuiyoh, turn profit wow.
TheContrarian But share price can't go up anymore.
pvjsabah china coming in....... Pan Borneo Highway is going through this area....... so how.....any hope ?????