T1T4N

T1T4N | Joined since 2014-08-28

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Stock

2016-04-27 15:16 | Report Abuse

@wong, 10% of it is for expenses, meaning RM52 million for their salary and expenses.
Source:

http://www.sonapetroleum.com/key-criteria.html
3. IPO proceeds

A SPAC must place at least 90% of the gross proceeds from its initial public offering in a trust account immediately upon receipt of all proceeds. The monies in the trust account may only be released by the custodian of the trust account upon termination of the trust account.

The proceeds in the trust account may be invested in permitted investments. Any interest generated by the funds held in the trust account, including interest/dividend income derived from the permitted investments, must accrue to the trust account.

The balance of the proceeds from the initial public offering, being 10% of the proceeds, may be utilised to defray expenses related to the initial public offering and for working capital purposes including but not limited to operating costs, fund the search for a target company or asset and completing the qualifying acquisition.

Stock

2016-04-27 14:54 | Report Abuse

Buy mothershare now, get 10% back guaranteed in least than one year time.

Liquidation will be very fast.
Sona has NO physical ASSET to liquidate, their only ASSET (accounting terms) is CASH.
The cash is hold by Deustche bank Trustee.

p/s: The management has used RM50Million on paying their SALARY and EXPENSES for these 3 years.
http://klse.i3investor.com/servlets/stk/fin/5241.jsp

So I don't think they will drag.

Stock

2016-04-27 13:43 | Report Abuse

Yes,should be bullish on motherstock,48.5sen guaranteed.

Warrant wise, good luck to you if you can sleep well everyday.

Stock

2016-04-27 12:19 | Report Abuse

Suddenly this page flooded with warrant extremist.

Half sen stock expiring in 3 months time with 77%fail vote.
Bizzare that still so much promoters.

Since QA fail. I think it is good bargain to buy Sona Mothershare.
10% interest in less than One Year time.

Stock

2016-04-27 10:03 | Report Abuse

Sona warrant.
No qa = 31 july 2016 expire . Cannot convert to mother share.

This is because warrants r given free during ipo with above condition.
Good luck to those ppl who want to buy

Stock

2016-04-27 09:58 | Report Abuse

The actual registered angmo chairman was absent yesterday.
They ask an independent director to announce results n press conference.
Already give up la...

Stock

2016-04-26 23:21 | Report Abuse

Few sen penny stocks are all over bursa,
but you want to invest in a Voted 77% fail stock which expire in 3 months time.
I am speechless and good luck to you.

Stock

2016-04-26 23:15 | Report Abuse

Let's see what happen tomorrow, when the news finally went to everyone's ears after one beautiful night.

Stock

2016-04-26 22:49 | Report Abuse

@rohank71
I am sure they want to close shop to hide their embarrass face, however the SC papers clearly stated is until 31 July 2016 only can liquidate.

I hope they don't use our money and go travel around the world.

Stock

2016-04-26 22:47 | Report Abuse

AND
If they can FIND A FAT INVESTOR to buy, why do they need a SPAC at the first place?
Just find the fat investor and buy up stag field, and earn agent middleman commision. Why do they need SPAC as middle person?

Stock

2016-04-26 22:45 | Report Abuse

As I said, the management have spent almost RM50million for this deal. (Year 2012 to 2016, check bursa financial statment)
Spending includes their SALARY AND OPERATING EXPENSES.

Their COST is 1 sen (with free warrants), and they used RM50million shareholder money for this 77% VOTE NO deal.

You think they will risk a sen for the sake of glory? fat hope.

*Management is holding 20% shares, if their holdings go more than 33% will trigger MGO. SC will block.

Stock

2016-04-26 22:36 | Report Abuse

Here's the video on chairman press conference:

https://www.youtube.com/watch?v=8CTy2RG-DzE

Stock

2016-04-26 22:29 | Report Abuse

Not yet 100% lost in warrant, there r still some buggers buying at 1sen, 0.5sen.

Still have chance to sell

Stock

2016-04-26 20:23 | Report Abuse

Callme777,
They already have 20%. If buy up to 33% might trigger MGO.

Besides noone would personally come out with their pocket money to fight. They taking millions of salary annually ma.
Why risk?

Stock

2016-04-26 19:56 | Report Abuse

Directors sure wont buy open market. Their cost only 1sen.
Why should they average up their cost?
Business is cruel.

Stock

2016-04-26 19:46 | Report Abuse

77% total shareholders. All big n small

Stock

2016-04-26 18:59 | Report Abuse

For mother shareholders,
Don't simply sell, hold tight or add more.

Our guarantee of 48.5sen is coming.

Stock

2016-04-26 18:56 | Report Abuse

Due to all the happenings, facts, numbers, share movement,
I have been consistently to ask cautious on warrant holders (Sell half to reduce risk of bust).

You guys keep talking cock on saying goreng, miracle, blablabla...

After today,
Results out, 77% VOTED NO.

Can't believe there r still people shouting miracle coming soon.

Look, if miracally SONA found a superb ASSET in 3 months, first they need SC approval, second they need Shareholder approval.
History tell us:
1) CLIQ fail in SC Approval
2) SONA fail today in shareholder vote, landslide defeat.

Are you going to put your hard earn money here?
I have ask you to JUMP over the fire many times.
Good luck if you want to walk into the fire and get burnt.

Stock

2016-04-26 15:41 | Report Abuse

Lol u guys should be thankful those ppl want to buy from u.

Whatever director propose will need shareholders approval..the 77% to votd from no to yes.

Stock

2016-04-26 14:45 | Report Abuse

How much Ringgit value u holding?

Stock

2016-04-26 14:44 | Report Abuse

Wtf guys, you all holding your decision onto a CFO mumble smile,
instead of looking at FACTS and figures.
Good luck.

Stock

2016-04-26 14:41 | Report Abuse

ktsk88, what miracle you talking?
77% VOTED NO. They want their 48.5 sen.

Directors won't care warrant holders, because warrants are given FREE during ipo

Stock

2016-04-26 14:37 | Report Abuse

Kindly be advised that trading in the above Company's securities will be halted with effect from 2.30 p.m., Tuesday, 26 April 2016.

Trading in the securities will resume with effect from 3.30 p.m., Tuesday, 26 April 2016.

Your attention is drawn to the Company's announcement dated 26 April 2016.

This is why you see still holding 2.5sen
3.31pm will only resume trade.

Stock

2016-04-26 14:36 | Report Abuse

76% voted no.
So I think u better throw, whatever godlike Asset they buy, not enough votes to swing to YES.

Stock

2016-04-26 13:41 | Report Abuse

Eric. Cannot convert. U can only SELL now

Stock

2016-04-26 13:41 | Report Abuse

After results announce fail
Meeting call off. Very fast.
Directora don even care to explain.
Only say "we r defeated by mail proxies. Tq and we will keep u all updated"

Stock

2016-04-26 13:38 | Report Abuse

Those who cut half warrants as I suggested. U need to throw all now unless u think there will be new qa in 3 months time

Stock

2016-04-26 13:31 | Report Abuse

73% total voted no
26% total voted yes.

Environment sounds peaceful as I think directors has expected

Stock

2016-04-26 13:29 | Report Abuse

90% mail proxies voted NO.
Killed off.
Big defeat.

Stock

2016-04-26 13:26 | Report Abuse

Vote results

Fail

Stock

2016-04-26 13:23 | Report Abuse

Taking seats ready to announce

Stock

2016-04-26 12:57 | Report Abuse

They say want to 100% confirm the votes

Stock

2016-04-26 12:55 | Report Abuse

Delay again. 30mins

Stock

2016-04-26 12:44 | Report Abuse

1 sen or half sen still money.
Maybe there r some who still believe in 3 months new QA.

Im not market. Monitor closely your money.

Stock

2016-04-26 12:42 | Report Abuse

If after july 2016 and you not sell yet will become toilet paper.

Open market it is. Whether what price u sell.

Stock

2016-04-26 12:34 | Report Abuse

Pop. Warrant still there until july 2016.
You can trade like normal

Stock

2016-04-26 12:24 | Report Abuse

Indicate nothing.
Just like before taking a penalty kick in world cup final kind of stress face

Stock

2016-04-26 12:21 | Report Abuse

Come see hadian and chairman stress face talking to registrar.
Middle of hall way

Stock

2016-04-26 12:16 | Report Abuse

Only 300+ papers need so long? Wtf

Stock

2016-04-26 12:14 | Report Abuse

Wow.. Looks like some of u are here too. Haha

Stock

2016-04-26 12:13 | Report Abuse

Need another 45 minutes to results announce

Stock

2016-04-26 11:58 | Report Abuse

Dont need to fight here.
We will know in bursa break time.
Everyone have their hard earn money in this.

Very fast results will unveiled

Stock

2016-04-26 11:51 | Report Abuse

Everyone is clicking their phone here. Free access to grand hyatt wifi somemore
I even take pics to record this historic moment

Stock

2016-04-26 11:38 | Report Abuse

I think they wont announce during market open. So ur last chance to buy sell is this last hour. Good luck

Stock

2016-04-26 11:31 | Report Abuse

Chairman say dont worry. If fail still got 3 months to July 2016.
(u believe?)

Stock

2016-04-26 11:29 | Report Abuse

Its a paper vote ;
Voters put in their votes in a box.
Now counting in a locked room.
And lunch break.

Stock

2016-04-26 11:12 | Report Abuse

Lunch break.
Polling started inside a room locked.

Stock

2016-04-26 10:58 | Report Abuse

Most ppl I met here voted against.
If u want to gamble I suggest u sell half of ur warrants.
So if qa pass u recoup with ur jackpot.
If fail u have reduce some lost.

Sincerely speaking. Up to u

Stock

2016-04-26 10:53 | Report Abuse

Angry shareholders want to be witness and observer in polling count room

Stock

2016-04-26 10:50 | Report Abuse

Results out Today. Either noon break announce or after 5pm