Both reach and SONA have fairly recent annual reports that can give you approximate amounts and names. In reality, the names the same just some have a bit less and some have a bit more.

Placement only if deal goes ahead. Deal won't go ahead if below cash value. Above cash value no need for placement because who will reject when can sell for above cash. Circular argument. Stupid. Deal either very high say NO or all say YES.

Reach not completely stupid. If they submit to SC now and then 3 months later they get approval, if they don't hold EGM immediately the vendor can use them under the SPA. And with current shareholding not sure deal will go ahead. SONA only had 22 pct say yes, malu betul. reach have to get a sugar daddy to come on board, but sugar daddy wants heavy penalty. Also reach have problem between Hong Leong people, daya, initial investor etc etc, what a mess. Unless REACH appeal to SC to change the threshold for approval, the deal is dead. meanwhile MTD and friends. And Credit Suisse everyday fight.

Some good new kambing

This stock unpredictable lah. Just goreng. Likely numbers very bad.

Everyday Tabung haji buys. Everyday credit Suisse buys, who vote yes and who vote no. Ha ha.

Anyone can explain the legal process ?

My broker say Credit Suisse has 3 accounts. One for PAG. one for their proprietary book. And one for HNW clients. This not the first time CS selling as they sold SONA and other SPAC before and they also buy back. Maybe some HNW tycoon sell down ? SONA should redeem money 3-4 months after early August assuming company not insolvent in which case Indepndent Directors get sued. Same time also CLIQ money should be coming back. I pity REACH. EVeryone will buy REACH And now block their deal. SONA should have goreng the same way TanSri Liew now goreng ECoworld International IPO. TOday STAR article about Quek buying in. SONA Promoter goreng Pisang.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5091305

I agree. No such thing as long term. When the company talks about long term, then all will fail. For SPAC, only thing matter is share price, above cash, all vote QA. below cash all vote NO. We know credit Suisse / PAG will vote NO. MTD Not sure. big boy yield investors surely NO. they have about 10 pct. Tabung Haji vote YES. Still not easy. so unless above cash, forget about it.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5087629

The board members should be sued. Instead of admitting they cant get shareholder approval and have FAILED, they simply delaying another 3 months so that Management can draw salaries and Board can get directors fees.

Please dont talk nonsense lah. If company is not insolvent and no lawsuits, liquidation is very very fast. The Board has a huge responsibility here and bear a lot of risk, especially the Independent Directors.

Please read company disclosure to Bursa yesterday.

Everyone blaming yield investors. Who are these yield investors ? I blame management. You roll the dice and if you win you get gloriously rich, if you lose you have very minimal outlay. And you blame everyone else. If your STAG deal so great how come you can't convince anyone to buy SONA shares. Why before the EGM share price is below cash value ? The entire market has ZERO confidence in you and your deal. The mathematics very simple. All SPACS that share price below cash value will fail at EGM. Full stop.

http://www.thestar.com.my/business/business-news/2016/04/30/tussle-in-reach-energy/

http://www.thestar.com.my/business/business-news/2016/04/30/tussle-in-reach-energy/

Wasting shareholder money holding it at Saujana. It is your and my money. hold it at Dewan Felda or elsewhere cheaper.

Why would anyone who has access to myr 300 mil buy an asset for 48 cts when immediately it becomes 38 cts or so, by virtue of the management block dilution ? I would just buy directly from SANTOS. The deal only works if the investor can create some hype and goreng the stock to say 60-70 cts and make money along the way. But again, why would you offer this free ride to managements more so these bunch of people ? Over 1100 stocks in bursa you can goreng. The maths only works if the management surrender their entire block of stock and warrants to the new shareholder for a token sum say myr 10-15 mil.

Have a lawyer working for a consortium approach you to sign a legal document where they are saying that they have more than 25 pct already and unless the stock price is above 50 cts, they will vote NO to any proposal which means any new proposal will fail. Hence they asking management to liquidate early, i.e. Starting now. This is perfectly within their rights and not deemed legal frustration. My broker ask me to sign but I a bit scared. Anyone approach you ?

ALl the money i.e. Your and my money, spent taking the journalists to see the STAG oilfield and also have a jolly worth absolutely zero. 77 pct vote no. Malu betul. If any pride, just close up now and liquidate. Immediately cut all salaries. You have FAILED.

The same way 1MDB board offer resignation, SONA board should offer immediate resignation. I am happy to become a board member and commence liquidation immediately. June is puasa and July is Hari Raya. Effectively with the holidays etc etc, absolutely nothing will get done. Board should immediately offer to court their directors fees by 90 pct, and all promoters take zero salary. You have failed and there is a price for failure.

Directors talk cock lah. As a board members they fail his ficudiary duty of ensuring shareholders vote in favour. How to hold EGM when share price is below cash ? U failed over 2 months to convince 77 pct of your shareholders that what you have done is positive value generating. U failed to bring in new shareholders to buy the shares thus allowing yield investors to exit. Many shareholders on your registrar for 2 years plus. Did you meet them and ask them what their plans ? Boss, even last week, brokers all know about 60 pct voting no. This deal was a non starter from day one. Capital repayment is paying back my own money, the latest con job of paying back money from exercised warrants is worse because of the dilution. Next 3 months just goyang kaki and draw salaries and director fees. Be a man and liquidate immediately lah. Stop delaying. Dead is dead. Btw, please fire and sue your stupid advisers CIMB.

SONA Dead. REACH In ICU, of life support. How can Management goreng a company with over 1 bil shares, when SONA failed. limit down warrants,

No tricks in liquidation. Read the sona prospectus and speak to liquidators. 77 pct shareholders say no and many foreign funds. CS And PAG big boys and will sue the Board. Over 11 liquidators put proposal for the 3 different methods to liquidate the other SPAC. The method and process is very straightforward. Get 99 pct back in 30 days if company is not insolvent.

Call egm for immediate liquidation no need to wait 3 month till end July. Liquidation now and 99 pct in 30 days. Look at the other spac in liquidation.

Shocking that 77 pct vote no. What the hell have Management and Board been doing. Unbelievable.

Over the weekend, co sec already know more than 25 pct vote no. Better sell your warrants first. Results may be embarrassing to the company and Board

I was told by broker that over the weekend management spoke to key investors and already 550 mil or so are voting no. Please speak to your friends and ask them to VOTE YES.

Liquidation is 1-2 months.

SONA Management been calling investors. They know already who vote yes and who vote no. Why you think Warrant high volume today. Deal now is dead. Pls vote YES if you want to save deal. Else sell your warrants. Those who want 10-11 pct yield buy mother.

Is it true that deal is done already and now just paperwork ? Insider collecting.

I was told by broker all the major block holders have agreed a structure with the promoters so likely deal will go ahead. Anyone hear of this story ? VOTE YES.

I think SONA management doing more harm than good by posting on this website, better to spend time goreng the shares. At 10 pct return, it doesn't make sense for deal to go ahead. I am voting YES. But think all the yield investor vote NO.

Siapa ni sivabalan ? Yang main creador goreng saham dulu ?

SONA VOTE YES.

KWAP pay big money for can one

Is it true ecoworld planning big rights issue to subscribe to ecoworld international ? Mati lah macam ni.

Vote yes

Say you vote yes and QA approved and many things that are CPs to the 8 cts being returned, any of which many not occur. Say SC don't approve. Say bank wont lend. Etc etc. Then how ? Your 48.5 cts guarantee is not intact. The 8 cts in that sense is flawed. It is a guarantee. It is subject to many approvals and CPs. As in Bursa statement, SONA promoters will secure bank financing. Good luck VOTE YES.

VOTE YES AND MAKE THE DEAL SUCCEED.

VOTE YES

Apologies just read the bursa disclosure. Yes, registered holder is CS since they are the broker holding on behalf of the client i.e. PAG. Client gives instructions to CS to vote. Strictly, PAG has no voting system rights since rights remain with the registered shareholder CS, but a beneficiary they will instruct CS to vote. Same same if you Malaysian client holding on margin. Nothing new. VOTE YES?

Sorry, where did SONA clarify this ?

VOTE YES.

Interesting approach. Looks good. Besok limit up warrant !

Sleeping.

bye bye SPACs.

EGM on 26th as per

http://www.thestar.com.my/business/business-news/2016/04/11/sona-eyes-other-assets-in-western-australia/

was there a Bursa disclosure I missed ?

I posted this a while back. Management have not bought a single share in the company at market prices. As a way of instilling confidence, management should buy shares now. Risk of course is limited as Wong Heam Kiew says above, in fact they make a small profit. It is the classic, what you say is not what you do. Have to lead by example.nthe next step is of course to bring in a key anchor investor like Quek or CMY. I fear with 20 odd days to go, we just flogging the same capital repayment horse which btw is shareholder money anyway and I can get it back by voting no. Best wishes for next few weeks.