For Newbies To Know And Learn About Penny Stocks
Penny Stocks And Multiple Proposals (Share Consolidation / Rights Issue / Bonus Issue / Share Split)
whistlebower99
Publish date: Tue, 03 Aug 2021, 03:30 PM
whistlebower99
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For Newbies Education.
Every year people who are new to the stock market will get into the market to try their luck with the aim of making extra income or a steady income by investing or speculating on stocks.
Many started without much knowledge and blindly follow comments from friends or from public forum.
This blog intended to provide newbies with the knowledge and information & latest announcement on penny stocks especially those with huge total issued shares and making losses for years.
Every year people who are new to the stock market will get into the market to try their luck with the aim of making extra income or a steady income by investing or speculating on stocks.
Many started without much knowledge and blindly follow comments from friends or from public forum.
This blog intended to provide newbies with the knowledge and information & latest announcement on penny stocks especially those with huge total issued shares and making losses for years.
Selected Penny Stocks With Multiple Proposal (2017 - 2021)
In Progress (as at 30/7/2021)
| STOCK NAME |
MULTIPLE PROPOSAL (Share Consolidation / Rights Issue / Bonus Issue / Share Split) |
PROPOSAL DATE |
| 1. LAMBO |
(I) SHARE CONSOLIDATION; AND (II) RIGHTS ISSUE WITH WARRANTS |
12/5/2021 |
| 2. PDZ |
(I) PROPOSED DIVERSIFICATION; (II) PROPOSED SHARE CONSOLIDATION; (III) PROPOSED RIGHTS ISSUE WITH WARRANTS; (IV) PROPOSED VARIATION; AND (V) PROPOSED ESOS |
23/3/2021 |
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3. PRICEWORTH |
I. PROPOSED SHARE CONSOLIDATION; AND II. PROPOSED NOTES ISSUE
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30/4/2021 |
| 4. OVERSEA |
(I) PROPOSED PRIVATE PLACEMENT; AND (II) PROPOSED RIGHTS ISSUE WITH WARRANTS |
28/7/2021 |
| 5. VIZIONE |
(I) PROPOSED VARIATION; (II) PROPOSED DIVERSIFICATION; AND (III) PROPOSED RIGHTS ISSUE OF SHARES WITH WARRANTS |
14/7/2021 |
| 6. SINARAN |
(I) PROPOSED PRIVATE PLACEMENT; AND (II) PROPOSED BONUS ISSUE OF WARRANTS |
15/6/2021 |
| 7. TA WIN |
(I) PROPOSED BONUS ISSUE OF WARRANTS; AND (II) PROPOSED SIS |
2/6/2021 |
| 8. EAH |
I. PROPOSED CAPITAL REDUCTION; AND II. PROPOSED SHARES ISSUANCE |
5/52021 |
| 9. KANGER |
I. PROPOSED RIGHTS ISSUE WITH WARRANTS; II. PROPOSED ACQUISITION; AND III. PROPOSED DIVERSIFICATION I. PROPOSED ACQUISITION; AND II. PROPOSED SUBSCRIPTION. |
24/2/2021 26/4/2021 |
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10. FAST (TECFAST) |
I. PROPOSED RIGHTS ISSUE WITH WARRANTS (amended without share split) |
14/4/2021; 24/5/2021 |
| 11. CHEETAH |
(I) PROPOSED BONUS ISSUE OF SHARES; (II) PROPOSED PRIVATE PLACEMENT; (III) PROPOSED BONUS ISSUE OF WARRANTS; AND (IV) PROPOSED ESOS |
25/6/2021; 30/6/2021 |
| 12. TIGER |
RENOUNCEABLE RIGHTS ISSUE OF UP TO 1,101,480,437 NEW ORDINARY SHARES IN TIGER SYNERGY BERHAD ("TIGER" OR THE "COMPANY") ("TIGER SHARES" OR "SHARES") ("RIGHTS SHARES") AT AN ISSUE PRICE OF RM0.04 PER RIGHTS SHARE TOGETHER WITH UP TO 1,101,480,437 FREE DETACHABLE WARRANTS IN THE COMPANY ("WARRANTS D") ON THE BASIS OF 3 RIGHTS SHARES TOGETHER WITH 3 FREE WARRANTS D FOR EVERY 4 EXISTING SHARES HELD BY THE ENTITLED SHAREHOLDERS OF THE COMPANY AT 5.00 P.M. ON 09 SEPTEMBER 2021 ("RIGHTS ISSUE WITH WARRANTS") |
13/1/2021 |
| 13. KOMARK |
Renounceable rights issue of up to 817,817,238 new ordinary shares in Komarkcorp (“Komarkcorp Shares” or “Shares”) (“Rights Shares”) together with up to 272,605,746 free detachable warrants in Komarkcorp (“Warrants D”) on the basis of 3 Rights Shares together with 1 free Warrant D for every 3 existing Shares held by the entitled shareholders of Komarkcorp on an entitlement date to be determined (“Proposed Rights Issue with Warrants”) |
18/8/2021 |
Completed in 2021
| STOCK NAME |
MULTIPLE PROPOSAL (Share Consolidation / Share Split / Rights Issue / Bonus Issue) |
COMPLETION DATE |
|
1. PASUKHAS |
(I) SHARE CONSOLIDATION; AND (II) RIGHTS ISSUE WITH WARRANTS |
11/6/2021; 21/7/2021 |
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2. APPASIA |
I. SHARE SPLIT; AND II. BONUS ISSUE OF WARRANTS
|
5/7/2021; 13/7/2021 |
| 3. SANICHI |
(I) SHARE CONSOLIDATION; AND (II) RIGHTS ISSUE WITH WARRANTS |
6/4/2021; 28/5/2021 |
| 4. MTOUCHE |
(I) SHARE CONSOLIDATION; AND (II) RIGHTS ISSUE WITH WARRANTS |
22/4/2021; 10/6/2021 |
| 5. VC |
(I) PRIVATE PLACEMENT; (II) SHARE CONSOLIDATION; (III) RIGHTS ISSUE; AND (IV) AMENDMENT. |
4/2/2021; 28/4/2021 |
| 6. MACPIE |
(I) PROPOSED PRIVATE PLACEMENT (II) PROPOSED SHARE SPLIT (III) PROPOSED BONUS ISSUE OF WARRANTS |
8/3/2021; 12/3/2021 |
| 7. SAUDEE |
(I) PROPOSED PRIVATE PLACEMENT; AND (II) PROPOSED RIGHTS ISSUE WITH WARRANTS |
23/6/2021 |
| 8. TRIVE |
(I) ACQUISITION; (II) SHARE CONSOLIDATION; AND (III) RIGHTS ISSUE WITH WARRANTS |
23/12/2020 24/2/2021 |
Completed In 2017 to 2020
| NETX (2020) | ICON (2020) | VINVEST (2020) | DGB(2020) | MLAB(2020) |
| JAG(2020) | LAGENDA (DBE) (2020) | PUC (2020) | SCOMIES(2020) | IMPIANA(2020) |
| VC (2019) | MTRONIC (2018) | DGSB (2018) | GLOTEC (2018) | VIZIONE (2018) |
| TIGER (2018) | PDZ (2017) | SANICHII (2017) | MTOUCHE (2017) | AT (2017) |
| KGROUP (2017) | MMAG (2017) | HUBLINE (2017) | SMTRACK (2017) | XDL (2017) |
Most of the low-price penny stocks have some of these characteristics :
- has Number Of Outstanding Shares (NOSH) exceeding 1 BILLION shares; some has MULTI-BILLIONS shares with negative or negligible EPS
- undertaking frequent fund raising exercise to increase company fund
- frequent issuance of shares for ESOS or Private Placement, reducing EPS and diluting shareholding percentage of specially minority shareholders
- had previously undergone share consolidation exrecise, reducing shareholdings by multiple times causing huge losses to shareholders
- had massive rights issue exercise to raise fund from shareholders, enlarging NOSH and reducing EPS
- had bonus issue of new warrants which went converted to shares will enlarged the NOSH and reducing EPS and diluting shareholding percentage
- has mulitple warrants (example A, B, C, etc)
- issued ICULS or ICPS (PA) with high exercise price and/or high conversion ratio
- had share split exercise, resulting in enlarged NOSH and reduced EPS
- incured losses quarter after quarter, year after year, utilizing and depleting company fund
- used large portion of company fund to acquire assets, settle debts, etc
- used company fund to invest/speculate in other penny stocks
- frequent announcement of numerous MOUs or Collaborative Agreement which normally turn out to be nothing
- frequently churn out articles, reports and announcements of business ventures, JV to create excitement and attention
Most of the these penny stocks have frequent fund raising exercise by issuing shares and selling to market via ESOS and PP as well as undertaking rights issue exercise (often with free warrant as sweetener), enlarging the NOSH to BILLIONS and reducing the EPS (if any) as well as diluting specially minority shareholding percentage.
When the issued shares become Multi-BILLION, and it is no more viable to raise cash by issuing shares through ESOS and PP, the directors will resort to Mutiple Proposals of Share Consolidation followed by rights issue with free warrants to get more money from shareholders causing massive losses to specially minority shareholders.
Despite the company flushed with cash from fund raising exercises, most of these companies were unable to generate decent profits and instead continue to report losses, quarter after quarter & year after year.
The company fund raised from such activities were normally used to cover yearly losses, finance business projects, assets acquisition, debt settlement, etc.
Some of these companies also used company funds to invest & speculate on other loss making penny stocks. And most of the time, ended up with huge losses that were more than the small profits generated from business.
Price chart (30/7/2021) of selected stocks that have completed Multiple Proposals
PASUKGB
SANICHI
MTOUCHE
VC
NETX
ICON
TRIVE
1. LAMBO
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LAMBO GROUP BERHAD (I) PROPOSED SHARE CONSOLIDATION; AND (II) PROPOSED RIGHTS ISSUE WITH WARRANTS Proposal Date : 12 May 2021 On behalf of the Board of Directors of Lambo, Mercury Securities Sdn Bhd wishes to announce that the Company proposes to undertake the following:- (i) proposed consolidation of every 25 existing ordinary shares in Lambo (“Lambo Shares” or “Shares”) into 1 Lambo Share (“Consolidated Share”) (“Proposed Share Consolidation”); and (ii) proposed renounceable rights issue of up to 1,207,787,815 new Shares (“Rights Shares”) together with up to 603,893,907 free detachable warrants in Lambo (“Warrants C”) on the basis of 10 Rights Shares together with 5 free Warrants C for every 2 Consolidated Shares held by the entitled shareholders on an entitlement date to be determined (“Proposed Rights Issue with Warrants”), The details of the Proposals are set out in the attachment. This announcement is dated 12 May 2021. https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3156983
Revised entitlement basis (9 June 2021) Renounceable rights issue of up to 1,207,787,815 Rights Shares together with up to 483,115,126 free detachable Warrants C on the basis of 5 Rights Shares together with 2 free Warrants C for every 1 Consolidated Share held by the Entitled Shareholders on the Rights Entitlement Date https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3165296 |
Rights issue ex-date = 11/8/21; Ex-price = 0.115 (previous day closing price = 0.22) Tradig of OR from 13/8/21 - 19/8/21. Price was at 0.005 seller quote, could be an indication that the rights acceptance could be under-subscrbed by retailers
Status :Closing date for Acceptance, Renunciation and Payment : 27 Aug 2021 Date for announcement of final subscription result and basis of allotment of excess Rights Securities 06 Sep 2021
RENOUNCEABLE RIGHTS ISSUE OF UP TO 1,207,787,815 NEW ORDINARY SHARES IN LAMBO GROUP BERHAD ("LAMBO" OR THE "COMPANY") ("LAMBO SHARES" OR "SHARES") ("RIGHTS SHARES") AT AN ISSUE PRICE OF RM0.10 PER RIGHTS SHARE TOGETHER WITH UP TO 483,115,126 FREE DETACHABLE WARRANTS IN LAMBO ("WARRANTS C") ON THE BASIS OF 5 RIGHTS SHARES TOGETHER WITH 2 FREE WARRANTS C FOR EVERY 1 EXISTING SHARE HELD BY THE ENTITLED SHAREHOLDERS OF THE COMPANY AT 5.00 P.M. ON 12 AUGUST 2021
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2. PDZ
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PDZ Holdings Berhad (I) PROPOSED DIVERSIFICATION; (II) PROPOSED SHARE CONSOLIDATION; (III) PROPOSED RIGHTS ISSUE WITH WARRANTS; (IV) PROPOSED VARIATION; AND (V) PROPOSED ESOS Proposal Date : 23 March 2021 On behalf of the Board of Directors of the Company, Mercury Securities Sdn Bhd (“Mercury Securities” or the “Principal Adviser”) wishes to announce that the Company proposes to undertake the following:- (i) proposed diversification of the business of PDZ and its subsidiaries (“PDZ Group” or the “Group”) to include the manufacture, sale and marketing of gloves and other related activities (“Gloves Business”) (“Proposed Diversification”); (ii) proposed consolidation of every 10 existing ordinary shares in PDZ (“PDZ Shares” or “Shares”) into 1 Share (“Consolidated Share”) (“Proposed Share Consolidation”); (iii) proposed renounceable rights issue of up to 797,749,896 new Shares (“Rights Shares”) together with up to 398,874,948 free detachable warrants in PDZ (“Warrants C”) on the basis of 6 Rights Shares together with 3 free Warrants C for every 1 Consolidated Share held by the entitled shareholders of the Company on an entitlement date to be determined (“Entitlement Date”) (“Entitled Shareholders”) (“Proposed Rights Issue with Warrants”); (iv) proposed variation of the utilisation of proceeds previously raised from a rights issue exercise previously undertaken by the Company which was completed on 7 February 2018 (“Previous Rights Issue”) (“Proposed Variation”); and (v) proposed establishment of an employees’ share options scheme (“ESOS” or “Scheme”) involving up to 15% of the total number of issued Shares (excluding treasury shares, if any) (“Proposed ESOS”). Please refer to the attachment for further details on the above. This announcement is dated 23 March 2021
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3141538
CONSOLIDATION OF EVERY 10 EXISTING ORDINARY SHARES IN PDZ HOLDINGS BHD ("PDZ" OR THE "COMPANY") ("PDZ SHARES" OR "SHARES") HELD AT 5.00 P.M. ON 11 AUGUST 2021 INTO 1 SHARE ("CONSOLIDATED SHARE") ("SHARE CONSOLIDATION") Kindly be advised of the following : 1) The above Company's securities will be traded and quoted "Ex - Consolidation” as from: 9 Aug 2021 2) The last date of lodgment : 11 Aug 2021 On ex-consolidation date of 9/8/21,
Share Consolidation completed on 12/8/21:
On behalf of the Board, Mercury Securities wishes to announce that the Company has resolved to fix the issue price of the Rights Shares at RM0.14 per Rights Share (“Issue Price”) and the exercise price of the Warrants C at RM0.16 per Warrant C (“Exercise Price”). https://www.klsescreener.com/v2/announcements/view/3409117
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EX-DATE = 30/9/21; Ex price = DATE for TRADING of OR = 4/10/21 - 10/10/21
Status : Pending ex-date on 30/9/21
Amended Announcement (27/8/21)
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3. PWORTH
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PRICEWORTH INTERNATIONAL BERHAD I. PROPOSED SHARE CONSOLIDATION; AND II. PROPOSED NOTES ISSUE Proposal Date : 30 April 2021 On behalf of the Board of Directors of PWI (“Board”), Kenanga Investment Bank Berhad (“Kenanga IB”) wishes to announce that the Company proposes to undertake the following:
Please refer to the attachment below for further details. This announcement is dated 30 April 2021. https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3153536 |
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Status : Ex-date for share consolidation = 3/9/21; Listing date = 7/9/21
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4. OVERSEA
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OVERSEA ENTERPRISE BERHAD (I) PROPOSED PRIVATE PLACEMENT; AND (II) PROPOSED RIGHTS ISSUE WITH WARRANTS Proposal Date : 28 July 2021 On behalf of the Board of Directors of the Company (“Directors”) (“Board”), Mercury Securities Sdn Bhd (“Mercury Securities”) wishes to announce that the Company proposes to undertake the following:- (i) private placement of up to 396,384,000 new ordinary shares in the Company (“Oversea Shares” or “Shares”) (“Placement Shares”), representing 30% of the enlarged total number of issued Shares, to independent third-party investor(s) to be identified and at an issue price to be determined later (“Proposed Private Placement”); and (ii) renounceable rights issue of up to 1,717,664,991 new Shares (“Rights Shares”) together with up to 572,554,997 free detachable warrants in the Company (“Warrants B”) on the basis of 3 Rights Shares together with 1 free Warrant B for every 3 existing Shares held by the entitled shareholders of the Company (“Shareholders”) on an entitlement date to be determined (“Entitlement Date”) (“Entitled Shareholders”) (“Proposed Rights Issue with Warrants”). (i) and (ii) above are collectively referred to as the “Proposals”. Please refer to the attachment for further details. This announcement is dated 28 July 2021. https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3178935 |
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Had recently completed Share Split on 25 Feb 2021 following the listing and quotation of 884,754,000 Subdivided Shares (including 11,700,000 treasury shares) on the ACE Market of Bursa Securities on 25 February 2021. Had recently completed Bonus Issue of Warrant A on 10 March 2021 following the listing and quotation of 436,526,991 Warrants on the ACE Market of Bursa Securities on 10 March 2021.
Status : Pending submission to Bursa approval |
5. VIZIONE
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VIZIONE HOLDINGS BERHAD (I) PROPOSED VARIATION; (II) PROPOSED DIVERSIFICATION; AND (III) PROPOSED RIGHTS ISSUE OF SHARES WITH WARRANTS Proposal Date : 14 July 2021 On behalf of the Board of Directors of Vizione (“Board”), TA Securities Holdings Berhad (“TA Securities”) wishes to announce that the Company proposes to undertake the following: (i) proposed variation of the utilisation of proceeds raised from the private placement which was completed on 2 June 2021 to the current intended utilisation (“Proposed Variation”); (ii) proposed diversification of the existing business of Vizione and its subsidiaries (“Vizione Group” or “Group”) to include manufacturing and trading of rubber gloves and related healthcare products (“Gloves and Related Healthcare Products Business”) (“Proposed Diversification”); and (iii) proposed renounceable rights issue of up to 1,369,132,873 new ordinary shares in Vizione (“Vizione Shares” or “Shares”) (“Rights Shares”) on the basis of 1 Rights Share for every 1 existing share held on an entitlement date to be determined later (“Entitlement Date”), together with up to 684,566,436 free detachable warrants (“Warrants E”) on the basis of 1 Warrant E for every 2 Rights Shares subscribed for an issue price to be determined and announced by the Board at a later date (“Proposed Rights Issue of Shares with Warrants”), (“Proposals”, collectively). Further details of the Proposals are set out in the announcement attached herein. This announcement is dated 14 July 2021. https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3175281
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Status : Proposal submitted to Bursa on 30/7/2021; Pending Bursa approval |
6. SINARAN
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SINARAN ADVANCE GROUP BERHAD (I) PROPOSED PRIVATE PLACEMENT; AND (II) PROPOSED BONUS ISSUE OF WARRANTS Proposal Date : 15 June 2021 On behalf of the Board of Directors of SAG (“Board”), M&A Securities Sdn Bhd (“M&A Securities”) wishes to announce that the Company proposes to undertake the following proposals: 1. a private placement of up to 211,144,900 new ordinary shares in SAG (“Shares” or “SAG Shares”), representing approximately 30% of the existing issued Shares, at an issue price to be determined later (“Proposed Private Placement”); and 2. a bonus issue of up to 457,480,740 free warrants in the Company (“Warrant(s)”) on the basis of 1 Warrant for every 2 existing SAG Shares held by the entitled shareholders of the Company on an entitlement date to be determined and announced later (“Proposed Bonus Issue of Warrants”). Kindly refer to the attachment on further details of the Proposals. This announcement is dated 15 June 2021. https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3166709
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Status : Bursa approval received; Pending subsequent announcement On behalf of the Board, M&A Securities is pleased to announce that Bursa Securities had vide its letter dated 18 August 2021, resolved to approve the following: 1. admission to the Official List and listing and quotation of up to 457,480,741 Warrants to be issued pursuant to the Proposed Bonus Issue of Warrants; 2. listing and quotation of up to 211,144,900 Placement Shares to be issued pursuant to the Proposed Private Placement; 3. listing and quotation of up to 457,480,741 new SAG Shares to be issued from the exercise of the Warrants; and 4. listing and quotation of such number of new SAG Shares, representing up to 15% of the Company's total number of issued shares (excluding treasury shares, if any), to be issued pursuant to the ESOS
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7. TA WIN
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TA WIN HOLDINGS BERHAD (I) PROPOSED BONUS ISSUE OF WARRANTS; AND (II) PROPOSED SIS Proposal Date : 2 June 2021
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1) The above Company’s securities will be traded and quoted “[EX-Bonus Issue]” as from: 13 Aug 2021 2) The last date of lodgment : 16 Aug 2021
Status : Bonus Issue of warrant completed on 26/8/21
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8. EAH
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EA HOLDINGS BERHAD I. PROPOSED CAPITAL REDUCTION; AND II. PROPOSED SHARES ISSUANCE Proposal Date : 5 May 2021 On behalf of the Board of Directors of EAH, UOB Kay Hian Securities (M) Sdn Bhd wishes to announce that the Company:- (i) proposes to undertake a reduction of the issued share capital of EAH pursuant to Section 116 of the Companies Act, 2016 ("Proposed Capital Reduction"); and (ii) had on 5 May 2021, entered into a subscription agreement with Vivocom Intl Holdings Berhad ("Vivocom") for a proposed issuance of 1,250,000,000 new ordinary shares in EAH ("EAH Share(s)"), representing approximately 24.6% equity interest in EAH ("Subscription Share(s)") at an issue price of RM0.0231 per Subscription Share to Vivocom for total subscription consideration of RM28,875,000 which will be satisfied fully via the issuance of 50,890,025 new ordinary shares in Vivocom ("Vivocom Share(s)") ("Consideration Share(s)") at an issue price of RM0.5674 per Consideration Share ("Proposed Shares Issuance"). Further details on the Proposals are set out in the attachment below. This announcement is dated 5 May 2021. Please refer attachment below. https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3154803
On behalf of the Board, UOBKH wishes to announce that the Company had on 28 July 2021, entered into a supplemental agreement, which is supplemental to the Subscription Agreement, to revise the terms and conditions of the Proposed Shares Issuance whereby EAH proposes to issue 1,100,000,000 new EAH Shares, representing approximately 21.7% equity interest in EAH at a revised issue price of RM0.0211 per EAH Share ("Revised Issue Price") to VinVest Capital Holdings Berhad ("VinVest"), (formerly known as Vivocom Intl Holdings Berhad) for a total subscription consideration of RM23,210,000 which will be fully satisfied via the issuance of 62,645,075 new ordinary shares of VinVest ("VinVest Share(s)") at a revised price of RM0.3705 per VinVest Share ("Supplemental Agreement") ("Revised Proposed Shares Issuance"). Further details of the Revised Proposals are set out in the attachment below.
This announcement is dated 28 July 2021. https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3178854 |
Status : Pending subsequent announcement |
9. KANGER
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A. Multiple Proposal 1 - KANGER INTERNATIONAL BERHAD I. PROPOSED RIGHTS ISSUE WITH WARRANTS; II. PROPOSED ACQUISITION; AND III. PROPOSED DIVERSIFICATION Proposal Date : 24 February 2021
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10. FAST (formerly known as TECFAST)
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FAST ENERGY HOLDINGS BERHAD (TECHFAST HOLDINGS BERHD) I. PROPOSED RIGHTS ISSUE WITH WARRANTS; AND II. PROPOSED DISPOSAL Proposal Date : 14 April 2021; amended on 24 May 2021 On 14 April 2021, UOB Kay Hian had, on behalf of our Board, announced that we proposed to undertake the following:- i. share split involving the subdivision of every 1 existing Techfast Share held on the Share Split Entitlement Date into 2 Subdivided Shares; ii. a renounceable rights issue of up to 909,204,618 Rights Shares on the basis of 1 Rights Share for every 1 existing Techfast Share held, together with up to 454,602,309 Warrants on the basis of 1 Warrant for every 2 Rights Shares subscribed for on the Entitlement Date; and iii. we had on 14 April 2021 entered into the SSA with the Puchaser for the proposed disposal of our 100% equity interest in TPSB, comprising 8,000,000 Sale Shares for a disposal consideration of RM6,100,000 to be satisfied entirely via cash.
REVISED PROPOSAL (24 May 2021) On 24 May 2021, UOB Kay Hian had, on behalf of our Board, announced that our Board had decided not to proceed with the Proposed Share Split after taking into consideration the weakness in the market price of Techfast Shares subsequent to the announcement of the Proposed Share Split on 14 April 2021, which resulted in the Company not being able to comply with Rule 6.31(1A) of the Listing Requirements. For information purposes, Rule 6.31(1A) of the Listing Requirements requires adjusted share price to be not less than RM0.20 based on the daily VWAP of Techfast Shares during the 3-month period up to and including the last trading date immediately preceding the submission of the application to Bursa Securities in relation to the Proposed Share Split. Pursuant thereto, our Board has determined to revise the basis of the Proposed Rights Issue with Warrants whereby Techfast will undertake a proposed renounceable rights issue of up to 909,204,618 Rights Shares on the basis of 2 Rights Shares for every 1 existing Techfast Share held, together with up to 454,602,309 Warrants on the basis of 1 Warrant for every 2 Rights Shares subscribed for, on an entitlement date to be determined and announced later. As at the LPD, our total issued shares was 405,083,952 Techfast Shares. In addition, as at the LPD, we have 49,518,357 ESOS Options that may be granted and exercised whilst our Group does not retain any treasury shares. Accordingly, assuming that all the 49,518,357 ESOS Options are granted and exercised, our enlarged issued shares will be 454,602,309 Techfast Shares. On 30 June 2021, UOB Kay Hian had, on behalf of our Board, announced that Bursa Securities had vide its letter dated 30 June 2021, resolved to approve the following, subject to the conditions as disclosed in Section 9 of this Circular:- i. admission of the Warrants to the official list of Bursa Securities; ii. listing and quotation of up to 909,204,618 Rights Shares and up to 454,602,309 Warrants pursuant to the Proposed Rights Issue with Warrants on the ACE Market of Bursa Securities; and iii. listing and quotation of up to 454,602,309 new Techfast Shares to be issued arising from the exercise of the Warrants on the ACE Market of Bursa Securities.
Assuming all ESOS options granted are exercised before rights ex-date and rights shares fully subscribed,
Status : Circular despatched to shareholders on 16 July 2021; Pending AGM on 2/8/21
CIRCULAR TO SHAREHOLDERS IN RELATION TO THE I. PROPOSED RENOUNCEABLE RIGHTS ISSUE OF UP TO 909,204,618 NEW ORDINARY SHARES IN TECHFAST ("TECHFAST SHARE(S)" OR "SHARE(S)") ("RIGHTS SHARE(S)") ON THE BASIS OF 2 RIGHTS SHARES FOR EVERY 1 EXISTING TECHFAST SHARE HELD, TOGETHER WITH UP TO 454,602,309 FREE DETACHABLE WARRANTS IN TECHFAST ("WARRANT(S)") ON THE BASIS OF 1 WARRANT FOR EVERY 2 RIGHTS SHARES SUBSCRIBED FOR, ON AN ENTITLEMENT DATE TO BE DETERMINED AND ANNOUNCED LATER ("PROPOSED RIGHTS ISSUE WITH WARRANTS"); AND II. PROPOSED DISPOSAL OF THE ENTIRE EQUITY INTEREST IN TECHFAST PRECISION SDN BHD ("TPSB") TO LU ENG SHEAN FOR A DISPOSAL CONSIDERATION OF RM6,100,000 ("PROPOSED DISPOSAL") (COLLECTIVELY REFERRED TO AS THE "PROPOSALS") https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3175895
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11. CHEETAH
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CHEETAH HOLDINGS BERHAD (I) PROPOSED BONUS ISSUE OF SHARES; (II) PROPOSED PRIVATE PLACEMENT; (III) PROPOSED BONUS ISSUE OF WARRANTS; AND (IV) PROPOSED ESOS Proposal Date : 25 June 2021 and amended on 30 June 2021
(i) proposed bonus issue of up to 255,241,500 new ordinary shares in the Company (“Cheetah Shares” or “Shares”) (“Bonus Shares”) on the basis of 2 Bonus Shares for every 1 existing Share
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Shareholding equity will be greatly diluted by PP and ESOS shares while EPS will be significantly reduced. Status : Pending Ex-date on 6/9/21
Last date and time for lodging the Form of Proxy for the EGM : Saturday, 21 August 2021 at 11.00 a.m. Date and time of the EGM : Monday, 23 August 2021 at 11.00 a.m. CIRCULAR TO SHAREHOLDERS IN RELATION TO PROPOSED BONUS ISSUE OF SHARES, PROPOSED PRIVATE PLACEMENT, PROPOSED BONUS ISSUE OF WARRANTS AND PROPOSED ESOS https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3181361
IMPORTANT DATES
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12. TIGER
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TIGER SYNERGY BERHAD RENOUNCEABLE RIGHTS ISSUE OF UP TO 1,101,480,437 NEW ORDINARY SHARES IN TIGER SYNERGY BERHAD ("TIGER" OR THE "COMPANY") ("TIGER SHARES" OR "SHARES") ("RIGHTS SHARES") AT AN ISSUE PRICE OF RM0.04 PER RIGHTS SHARE TOGETHER WITH UP TO 1,101,480,437 FREE DETACHABLE WARRANTS IN THE COMPANY ("WARRANTS D") ON THE BASIS OF 3 RIGHTS SHARES TOGETHER WITH 3 FREE WARRANTS D FOR EVERY 4 EXISTING SHARES HELD BY THE ENTITLED SHAREHOLDERS OF THE COMPANY AT 5.00 P.M. ON 9 SEPTEMBER 2021 ("RIGHTS ISSUE WITH WARRANTS")
Status : Pending Ex-date on 8/9/21
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Discussions
5 people like this. Showing 11 of 11 comments
Very impressive analysis..a master piece reference from whistlebower99 . I hope SC or Bursa, should tighten regulation to limit unnecessary fund raising for loss making companies.
2021-08-04 12:31
VERY GOOD REMINDER TO THE INEXPERIENCED INVESTORS AND SPECULATORS TO AVOID THESE PUMP AND DUMP STOCKS. YOU WILL LOSE YOUR MONEY AFTER THE RESTRUCTURING EXERCISE OR MUCH EARLIER. I WONDER ON WHAT BASIS BURSA ALLOWS/APPROVE SUCH STAGGERING NEW ISSUE OF SHARES BY THESE LOSS MAKING COUNTERS.
2021-08-04 16:45
they will request money from shareholders, and then use the money to buy some overvalued properties or settle some inflated invoices amount/non-exist invoices to a 3rd party, which is also being controlled by the insiders. This is how money was moving out from the company. The company is just a machine for them to look for more money from existing shareholders. It is not easy to be detected by shareholders because you don't have access to their accounting records. By the time should Securities Commission investigate the company, all money was already gone. They don't mind being a PN17 company at all..
And you as a shareholder are left with nothing worth in your hands. It is as good as toilet paper.
2021-08-05 11:45
so whistlebower99, let's take Macpie stock as an example.
I see that XOX holding shares at approx. 15c (approx. 10% share holding) (after warrant sale) and about 50% of the shares are being hold by the major share holders (last year NOV AGM approvals).
So do you think XOX will sell their stake at lost (now 6c)? If not, it is time-based game for a rebound, am I correct? All this based on the assumption that they will not be entering the deal with Techninier... If they are entering the deal, it will be a game changer as the current trend would be for accumulating shares..
2021-08-05 13:33
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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....
Analyser
How does share consolidation caused losses to minority shareholders?
2021-08-04 10:46