Seriously How Come
MQ Technology Bhd announced 2nd substantial shareholder also sell shares ahead of bad news! -23Dec16
23 December 2016, Penang, Malaysia - MQ Technology Bhd second substantial shareholder MR GOH BOON SOO @GOH YANG ENG announced on Bursa Malaysia today the disposal of 11,500,000 and 6,000,000 shares on 20th and 22nd December 2016 for average about RM0.065 and RM0.055 per share, which is below Right Issue subscription price of RM0.10 per share.
GOH BOON SOO still has 85,500,000 shares as of announcement today.
Earlier on 22 December 2016, Bursa announcement confirmed GOH BOON SOO is also one of the substantial shareholders who sell 58,166,666 units of Warrants on 14 December 2016, which is ahead of negative news announcement at the end of trading session on the same day.
Another Substantial Shareholder Sell shares at Huge Loss
Substantial shareholder Teh Eng Huat who subscribed to MQ Tech latest Right Issue today announced the disposal of 12,348,200 and 10,000,000 shares on 22 Dec and 20 Dec 2016 respectively. Market has on 16 December 2016 shocked by Bursa announcement of Teh Eng Huat sold off 55,166,600 Warrants on 14 December 2016.
Teh Eng Huat also announced to Bursa on 16 December 2016 intention to sell shares outside closed Period. However, this announcement is 2 days after he sold shares on 14 December 2016. Another potential pre-matured share dealings.
Buy high Sell Low and then resign?
Bursa announcement proven that the Teh and Goh are the main cause of share price collapse with sudden dumping of huge shares volume within same trading day.
The sell off is ahead of Bursa Malaysia announcement after market closing the same day on company fraud news, linking a deal with NagaCorp which was later denied by MQ Tech upon Bursa query.
The news shocked the market of potential insider trading where major shareholder and executive director sell shares knowing ahead of bad news. Market is also concerned where would these potentially illegally obtained share sales proceed would be taken out while the main suspect Teh Eng Huat resigned from MQ Tech board on 14 December 2016, the same day he sold shares.
Share Price Crash to New Low
Having 2 substantial shareholders acting in concert selling Warrants and shares in a rush, and ahead of negative news, MQ Technology Bhd share and warrant prices have drop from RM0.12 to RM0.05 and RM0.06 to RM0.025 respectively during 14 December 2016 until 23 December 2016.
Bursa Malaysia have not given any update or issue any unusual market activities (UMA) statement.
Seriously News
references:-
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5291409
DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : DEALINGS OUTSIDE CLOSED PERIOD
| MQ TECHNOLOGY BERHAD |
| Type | Announcement | ||||||||
| Subject |
DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) DEALINGS OUTSIDE CLOSED PERIOD |
||||||||
| Description |
MQ Technology Berhad ("MQ")
- Notification of dealings by Director in the securities of MQ outside closed period.
|
||||||||
|
Pursuant to Rule 14.09(a) of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad, Mr Teh Eng Huat has notified his dealings in the securities of MQ outside closed period. The details are set out below:-
This announcement is dated 16 December 2016. Remarks: Mr.Teh has resigned as Director of MQ on 14 December 2016. The notification was received on 16 December 2016. |
|||||||||
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5298137
Changes in Sub. S-hldr's Int. (29B)
| MQ TECHNOLOGY BERHAD |
Particulars of substantial Securities Holder
| Name | MR GOH BOON SOO @GOH YANG ENG |
| Nationality/Country of incorporation | Malaysia |
| Descriptions (Class & nominal value) | Ordinary shares of RM0.10 each |
| Name & address of registered holder | GOH BOON SOO @GOH YANG ENG 25 Lorong Maarof Satu, Bangsar Park 59000 Kuala Lumpur, Malaysia. |
Details of changes
Currency: Malaysian Ringgit (MYR)
| Type of transaction | Description of Others | Date of change |
No of securities
|
Price Transacted ($$)
|
| Disposed | 20 Dec 2016 |
11,500,000
|
|
|
| Disposed | 22 Dec 2016 |
6,000,000
|
|
| Circumstances by reason of which change has occurred | Open Market Disposal |
| Nature of interest | Direct Interest |
| Direct (units) | 85,500,000 |
| Direct (%) | |
| Indirect/deemed interest (units) | |
| Indirect/deemed interest (%) | |
| Total no of securities after change | 85,500,000 |
| Date of notice | 23 Dec 2016 |
| Remarks : |
The form was received on 23 December 2016. |
Announcement Info
| Company Name | MQ TECHNOLOGY BERHAD |
| Stock Name | MQTECH |
| Date Announced | 23 Dec 2016 |
| Category | Change in Substantial Shareholders Interest Pursuant to Form 29B |
| Reference Number | CS2-14122016-00163 |
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5296133
Changes in Sub. S-hldr's Int. (29B)
| MQ TECHNOLOGY BERHAD |
Particulars of substantial Securities Holder
| Name | MR GOH BOON SOO@ GOH YANG ENG |
| Nationality/Country of incorporation | Malaysia |
| Descriptions (Class & nominal value) | Warrants |
| Name & address of registered holder | GOH BOON SOO @GOH YANG ENG 25 Lorong Maarof Satu, Bangsar Park 59000 Kuala Lumpur, Malaysia. |
Details of changes
Currency: Malaysian Ringgit (MYR)
| Type of transaction | Description of Others | Date of change |
No of securities
|
Price Transacted ($$)
|
| Disposed | 14 Dec 2016 |
58,166,666
|
|
| Circumstances by reason of which change has occurred | Open Market Disposal |
| Nature of interest | Direct Interest |
| Direct (units) | 0 |
| Direct (%) | 0 |
| Indirect/deemed interest (units) | |
| Indirect/deemed interest (%) | |
| Total no of securities after change | 0 |
| Date of notice | 22 Dec 2016 |
| Remarks : |
Securities held after the change is 103,000,000 Ordinary Shares (24.833% of issued shares) The form was received on 22 December 2016. |
Announcement Info
| Company Name | MQ TECHNOLOGY BERHAD |
| Stock Name | MQTECH |
| Date Announced | 22 Dec 2016 |
| Category | Change in Substantial Shareholders Interest Pursuant to Form 29B |
| Reference Number | CS2-22122016-00015 |
Changes in Sub. S-hldr's Int. (29B)
| MQ TECHNOLOGY BERHAD |
Particulars of substantial Securities Holder
| Name | MR TEH ENG HUAT |
| Nationality/Country of incorporation | Malaysia |
| Descriptions (Class & nominal value) | Warrants |
| Name & address of registered holder | 1.TEH ENG HUAT NO 1, Jalan Bayan Mutiara 2, Bayan Lepas ,11700 Penang 2.PUBLIC NOMINEES (TEMPATAN) SDN BHD P.O.BOX 11167 50738 Kuala Lumpur Wilayah Persekutuan 3.KENANGA NOMINESS (TEMPATAN) SDN BHD. 8th Floor Kenanga International Jalan Sultan Ismail 50250 Kuala Lumpur Wilayah Persekutuan 4. AFFIN HWANG NOMINEES (TEMPATAN) SDN BHD Levels 2,3,4,7 & 8 Wisma Sri Pinang 60 Green Hall 10200 Georgetown Pulau Pinang. |
Details of changes
Currency: Malaysian Ringgit (MYR)
| Type of transaction | Description of Others | Date of change |
No of securities
|
Price Transacted ($$)
|
| Disposed | 14 Dec 2016 |
55,166,600
|
|
| Circumstances by reason of which change has occurred | Open Market Disposal |
| Nature of interest | Direct Interest |
| Direct (units) | 6,980,088 |
| Direct (%) | 3.804 |
| Indirect/deemed interest (units) | |
| Indirect/deemed interest (%) | |
| Total no of securities after change | |
| Date of notice | 14 Dec 2016 |
| Remarks : |
Securities held after the change: a)100,960,000 Ordinary Shares (24.341% of issued shares) b) 6,980,088 (3.804% of the total Warrants in issued). The form was received on 16 December 2016. |
Announcement Info
| Company Name | MQ TECHNOLOGY BERHAD |
| Stock Name | MQTECH |
| Date Announced | 16 Dec 2016 |
| Category | Change in Substantial Shareholders Interest Pursuant to Form 29B |
| Reference Number | CS2-14122016-00124 |
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5298121
Changes in Sub. S-hldr's Int. (29B)
| MQ TECHNOLOGY BERHAD |
Particulars of substantial Securities Holder
| Name | MR TEH ENG HUAT |
| Nationality/Country of incorporation | Malaysia |
| Descriptions (Class & nominal value) | Ordinary shares of RM0.10 each |
| Name & address of registered holder | 1.TEH ENG HUAT NO 1, Jalan Bayan Mutiara 2, Bayan Lepas ,11700 Penang 2.PUBLIC NOMINEES (TEMPATAN) SDN BHD P.O.BOX 11167 50738 Kuala Lumpur Wilayah Persekutuan 3.KENANGA NOMINESS (TEMPATAN) SDN BHD. 8th Floor Kenanga International Jalan Sultan Ismail 50250 Kuala Lumpur Wilayah Persekutuan 4. AFFIN HWANG NOMINEES (TEMPATAN) SDN BHD Levels 2,3,4,7 & 8 Wisma Sri Pinang 60 Green Hall 10200 Georgetown Pulau Pinang. |
Details of changes
Currency: Malaysian Ringgit (MYR)
| Type of transaction | Description of Others | Date of change |
No of securities
|
Price Transacted ($$)
|
| Disposed | 20 Dec 2016 |
12,348,200
|
|
|
| Disposed | 22 Dec 2016 |
10,000,000
|
|
| Circumstances by reason of which change has occurred | Open Market Disposal |
| Nature of interest | Direct Interest |
| Direct (units) | 78,611,800 |
| Direct (%) | 18.953 |
| Indirect/deemed interest (units) | |
| Indirect/deemed interest (%) | |
| Total no of securities after change | 78,611,800 |
| Date of notice | 23 Dec 2016 |
| Remarks : |
The form was receive on 23 December 2016. |
Announcement Info
| Company Name | MQ TECHNOLOGY BERHAD |
| Stock Name | MQTECH |
| Date Announced | 23 Dec 2016 |
| Category | Change in Substantial Shareholders Interest Pursuant to Form 29B |
| Reference Number | CS2-21122016-00040 |
Discussions
Be the first to like this. Showing 4 of 4 comments
the sell all until the companykena PN17,they didn't loss only bank loss,then they take the rights issue money and cabut. same like asset dumping.the quickest way to con and run away
2016-12-23 23:26
just like STONE, 1 year after rights issue money all gone. soon this counter kena PN17
2016-12-25 23:44
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insiders buy high sell low.
2016-12-23 20:16