By the way, there is again another flaw in your assumption. Who is everybody? How many shareholders? What percentage of shareholding? What percentage of subscription to ICULS? What entry price? What is the desired rate of return for each shareholder?

Hahaha bravoUp we all thought you went missing. Wow!!! It's so amazing how after trying so hard to demonize the company, you still hold shares? You're a shareholder? Hahaha. Why haven't you sold earlier? All these while you were calling your own company a con job while still holding shares and only just decided that you wish to take profit in October? Hahaha. Of course you need to SELL, if not then what? HOLD and ride along with a conman company's growth prospects? Hahaha you sound more like the conman now, one who can't even con properly.

lsm88 that's correct.

Oh that's correct too. I just use a simple 1.36. Easy to remember, derived from 0.68/0.50. Meaning you need 1.36 ICULS to convert into one mother share.

tjhldg, why such calculation? Conversion rate of 0.68 sen already stated clearly. So your monetary cost per conversion of ICULS is (LR+0.50)*1.36

bravo88, call the share registrar. ICULS should be listed if all goes well.

Not only are you getting the discount on mother shares via immediate conversion from ICULS, you also have to adjust for potential of further rise in share price (rebound) from the recent weakness most likely from profit taking and the confusion & dumping of LR.

Yes, missed out on that, lclwyp is right. Thanks for pointing out. For adjustment use current share price *5/6, e.g. 1.12*5/6=0.93

Lawislaw please read the prospectus before making a decision based on rumours, especially misinformed rumours. The ICULS are convertible at any time within the 5 years period into mother shares. ICULS that are not yet converted will be paid a coupon of 2.0% - 3.0% p.a., semiannual. Based on current prices, you will be getting mother shares at a discount of about 30% (assuming you bought LR at 5 sen each).

Wraith, you will need to download the OFS acceptance form from Bursa website. You will also need to prepare a RM250,000 bank draft for the acceptance. Your broker should also guide you if you have any queries.

lookingaround, that's true, not so much bothered by him, just bothered about the misinformation provided here. Can't deny though that some points he raised are valid and thank you bravoUp for that, but a lot of it are biased and designed to mislead others.

Lollipot Anison if you go in at 4.5 sen now, you're paying about 75 sen for a share that is worth about 93 sen. Worth it? Your call, for me it's an outright buy. But do remember of the additional 50 sen per LR needed for the application by end of this week.

Back of the envelope calculation indicates bulk of buyers that bought in early are still hovering around breakeven region, assuming mother shares remains at this price or even a few sen lower. Once a rebound comes after the recent sell-off and profit taking, they still stand to earn a lot.

Who's blaming you now bravoUp? Why suddenly become so defensive? Just pointed out some of the obvious biases and misleading info that you have posted, for the benefit of everyone here.

amason, sell call on mother share by cytew is due to best use of funds. During his call it was indeed better to buy LR than to buy the mother share. Even now it still is. Why would you buy more of mother shares when you can get it at a discount via LR?

And for the 41.5 sen reference price for LR that you claimed is exorbitant, by working backwards from 41.5 sen, the pre-rights price would be about RM2.50+, about the same as the closing price on Tue, 2 Sept. One can argue that it may be too high and biased to use that figure. In that case, another way to justify is to adjust for the value of the ICULS coupon rate, which gives a pre-rights price in the RM2.30+ to RM2.40+ region, which is quite fair and in adherence to the historical price trends. But of course agreed that it is slightly far from the rights-adjusted closing price 1 day before trading of LR.

Rumour has it......... ? what annoucement, flatman?

amason don't be so happy yet, share what are your justifications and reasons for a rebound?

bravoUp, for the NTA matter you are providing info based on the the highly unlikely scenarios, and even if such scenarios do somehow play out, they will only happen after a few years down the road, which also assumes all things are constant i.e. zero growth in the company. This is a completely biased and unfair representation of the company.

You have been repeating the same issue for many times. But Why limit and fear monger by how much funds will eventually be hit with with only small lots of LR? Can't it be the other way round? Say I have 100k to invest so I work backwards to see how many LR I should buy?

balravoUp please explain how you get 0.415 sen reference price? Also for the NTA the prospectus did not state that it will go below 69 sen as you have claimed. In the near term the maximum scenario is only a decline from 1.37 to 1.17 assuming full exercise of warrants, which is very unlikely. The next stage is a decline to 0.71, which is also very unlikely because it requires ALL public holders of ICULS to convert into approximately 220m new shares, not to mention the major shareholder is controlling the other half all the ICULS in issue, will they want to exercise all and risk the share price bottoming and thus zero gain for them? And for your claimed 69 sen it only happens theoretically if RCULS are fully converted, which can only start to be converted from Sep 2015 onwards, and also note that it is controlled by the major shareholder. So these will only theoretically happen after a few years down the road, and also is based on the flawed assumption that the asset base remains stagnant, do you not think the assets of a growth stage company will not increase over the next few years but remain stagnant?

While your intention is good, your biasness of reporting certain info does make it seem like you're trying to fear monger for some personal vendetta.

The way I see it, based on textbook calculation worst case scenario it could drop to 68 sen, if 50% of ICULS are converted (221m new shares), which is very very unlikely. So worst case scenario is a breakeven scenario, but those who bought high for LR will have different risk scenario. But how will Mr Market value the stock eventually is hard to say.

Many must have bought in during the price run up period, and felt trapped that when it dropped, and dropped... Great to see the rebound finally coming after patient waiting, hope it sustains!

((((BravoUp: 2)Announcement of bonus issue is made 1 trading day before the listing of the LR / OR (Bursa probably unaware or just overlook) 3)LR/OR is listed for 6 tradings days,... it supposed to be listed for 5 trading days only (newbies do not know this)
4) The amendment on OR/LR made last minute (just before 1 day of trading)....that suppose to be amended on the first day.))))

BravoUp, personally don't see much big issue with these things..Any major cause for concern? because the bonus issue must have been approved by shareholders and also announced to Bursa much earlier. The LR/OR listing for 6 days can be taken on the cover page of the prospectus and also on the application forms. Amendment on OR/LR trading date is errata for some details in the prospectus for avoidance of doubt. But normally majority of people should have followed the dates stated on prospectus cover and also the application forms. Personally don't see any big issue with these, although the oversight on the errors in the prospectus create some doubt on the merchant bank and the company's QC. Although it is understood that IB work crazy hours but a material typo, seriously?

Looks like issued shares will reach 1.4b, near to what bravoUp described. But in reality, that should happen only after a few years, maybe in 2018/2019?? In the short term, the increase is only from 229.0m to 618.2m (rights+bonus). To reach 1.4b, will need shareholders to convert 68.7m warrants, 651.6m ICULS (443.1m shares), and 402m RCULS (254.3m shares). RCULS is held by major shareholders, and conversion can only begin in Sep 2015. Half of all ICULS also controlled by major shareholders. In total, major shareholders control about 60% of all new shares to be created after the rights+bonus issue. And by converting ICULS and RCULS, the major shareholders will have a lot of value to gain from the public. Do you think they want to see share price hit bottom, equalling to zero gain for them? From this inference I think they will only convert over a few years period. BravoUp what are your views?