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

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

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

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

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

Lunch break.
Polling started inside a room locked.

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

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

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

Vote poll starts!

Mail proxies already have 72% voted.
Presnet tofay only 20+%

A lot shareholder asking what if fail.
Chairman angry say still got three months.

Capital repayment need SC approval which havent get.

Company secretary have get 942 mail proxies.
So most probably deal done.

119 proxies
89 shareholder
1 corporate

Counter will not be suspended.
Poll will go on in 30minutes.

Results
Will be announce most probably noon break.

I hope you all know that
Sona Management (WHO WANTS THE QA TO DEFINITELY PASS) holds 20% shares ARE NOT ELIGBLE TO VOTE.

@bryan90, yea, at least you will not be super stressed out on whatever results tomorrow.
Good luck.

Last Call to tomorrow judgement day!

@bryan90, i suggest you self half of your warrants.
If QA pass, your half warrants will jackpot and cover the loss you sell today.
If QA fail, you sold half, and already reduce damage.

Just a suggestion for brothers/sisters on their hard earned money in this forum.

Last 30 minutes. GOOD LUCK TO WARRANT HOLDERS!

Actually if Credit suiise / PAG voted AGAINST via mailing (their address is from EUROPE).
High chance QA will fail, and it is known after counting the votes which is closed.

@ruslimz
Yes, the day of vote NO and guaranteed your 48.5sen ,
whether QA OK or NO you get 48.5sen.

If QA pass, and you vote NO, you still will be paid your 48.5sen.

That's how the game run.

I have checked the trend in chart, the volume is so THIN when the guarantee date is past.
Warrant holders, really beware.

Actually there is a main reason why stock fall, because people who buy NOW, is not eligible for the GUARANTEE YIELD. (already past the date that guarantee ownership)

This sends a SUPER STRONG MESSAGE, meaning, the people who bought previously are highly interested in the YIELD.

If not, they should have WALLAP all the shares today.

I'm going for guarantee yield, 48.5 sen is too attractive compare with 43 sen today.

Let's see how it progress few more days down the road.

Funny that, more reports out, the weaker the mother share price.

As I said earlier, technicals vs human emotions.
Make your own decision, good luck.

http://www.midf.com.my/images/pdf/research-Report/Equity-Beat/2016/Sona-Strenghtening%20oil%20prices%20boon%20to%20upstream%20players-MIDF-210416.pdf

@coolinvestor,

I'm just a normal human who have access to other 1000+ listed counters in Bursa Malaysia, from 1sen to several Ten Ringgits. (ONLINE TRADING PLATFORM)

I respect the management on all the hardwork pour into the company for this 3 years. No doubt about it. Dato Sri, Tan Sri, Professionals, Experts, you guys deserved all the fame, no problem.

But to me as a normal shareholder, what I see most is my own pocket, profit of my shares.
That's all.

Everything BOILS DOWN TO this:
"10% guarantee yield" vs "Potential upside after capital reduction of 8sen"

Your choice. Good luck and see you all at AGM Grand Hyatt.

@sonapetroleum,

I appreciate your long writeup with technical explanations.

Let's talk about market sentiment, human emotions.

With 44sen on mother share now,
Do you think majority shareholders will want a GUARANTEED 48.5sen (10% gain yield)?
Or a Potential upside (which also opens to potential DOWNSIDE) after 8sen capital reduction?

The difference.

Yield, u invest RM100, you get back RM109 (guaranteed)

Capital repayment, you invest RM100, you get back RM18 and your share left RM82(open to risk).

Dividend is another thing derived from earnings.
You invest RM100 as shareholder, company earn rm10, they pay you rm3 as dividend. Share price adjusted to via market force.
*Petronas case is unique as it is highly political to borrow money for paying dividend. Usually 99% of the times no earnings, no dividend.

"mr.tan

your calculations are really EXCEPTIONAL

yes guaranteed 9% yield. smart move....whoa...

but if I

buy 44.5sen and vote YES
get back 8sen capital, 18% yield....DUH..... "

@coolinvestor
Capital reduction is your money. Share price will DEDUCT 8 sen. That is not yield.
eg: Today 45 sen, after capital reduction, tomorrow share price will be 37 sen. 8 sen goes to your bank.


YIELD = buy 44.5, guaranteed at 48.5 sen.
Totally different.

Buy 44.5sen and vote NO.
Get back 48.5 sen, 9% yield GUARANTEE!

@n2share, Warrant will become ZERO.

1) Warrant holders are not eligible for 8 sen capital repayment, only mother shares are.
You need to EXERCISE your warrants to Mother share by paying 30sen, then you are holding mother shares which is eligible for capital repayment.
Exercise option is only available IF QA is PASS.


2) Just like any shareholders, PAG is always a LEGITIMATE SHAREHOLDER who can VOTE YES OR NO. Paying multimillions Ringgit, and no right to vote? What a joke from you all.

3) If the mother share is still under distress, I'm sure a lot of major shareholders want the guarantee of 48.5 sen instead of the NON Guarantee float of share price (NTA 38sen).


See you all in Grand Hyatt AGM.

The only way QA will 100% go through, is mother share boost past the guarantee price of 48.5

You need to EXERCISE YOUR WARRANT, MEANING TOP UP 30sens (suggested amount which is adjusted from 35sens) for taking the 8sens capital repayment.

Example:

If You bought warrant at 5 sens, RM5,000
To exercise, you need to pay 30sens exercise price to get a mother share. So in this case, RM30,000.

After that you may get back your 8sens capital repayment, RM8000.
Then the mother share will adjust minusing 8 sens.

Warrants basics, please understand before you buy.

@sheep, the quoted line is for 33% mandatory takeover offer, so SC would be OK.

8 sen capital repayment should be no problem too, its capital repayment, your money.
example: Today EX share price = 50sen, EX happen.
Tomorrow share price will be 42 sen (open market), and the money goes to your bank.

If QA go through, you need to convert your Warrants in order to get the share capital return. Which is estimate 30 sens EX price (NEW ADJUSTMENT FORMULA). Meaning, you need to top up 30 sens to get 8 sens.

If QA fail, your warrant is still dead.

Don't confuse people.

Yield investors don't look at your technicals or value. They wan the guarantee confirmed %.
That's all.

Only way to make them vote yes, is THE MOTHER SHARE IS ABOVE THE YIELD GUARANTEE before QA.

PAG/Credit Suisse collecting more mother shares!

Wow, I think PAG is in action again. Whacking up the Mother share.

I am not trying to scare all those warrant holders, but you still have a choice.

Look, the Sona-wa expiry date on BURSA is stated 2018.
But if you read the details it actually will die off on July 2016 if no QA,


"Remarks : The maturity date of the Warrants is as follows:

(a) 29 July 2018, being five (5) years from the date of listing if the

qualifying acquisition of Sona Petroleum Berhad (formerly known as Titanium

Windfall Sdn Bhd) (Sona Petroleum) is completed within 36 months after the date

of listing, or

(b) 29 July 2016, being three (3) years from the date of listing if the

qualifying acquisition of Sona Petroleum is not completed within 36 months

after the date of listing."


*IF NO QA on July 2016, your warrant = 0 ZERO!*
PLEASE BEWARE.



Well, if QA pass, you get good margin of upside.

I am just stating the facts.
Hope can help some bros to see the road clearer than hearing emotional talks in this forum.
The choice is yours.

Btw, Credit Suisse whack another 1,4Mil shares.
Looks like they want to block the deal.

The COST for Directors/Management is only 1 sen for mother share, and FREE WARRANTS.
Go read back the IPO Prospectus. Or this news:
http://www.thestar.com.my/business/business-news/2013/07/20/sizzling-spacs/

And go see financial statement 2015, they already used RM17 Million for operating expenses (salary/wages).

With ONE SEN cost for MOTHER SHARE and FREE WARRANT from day 1. You already winning.
IF QA fail, they get back 48 sen.
If QA pass, the GUARANTEE of 48 sen is gone, the price may fluactuate (even go below 40 sens).

No point for management to sharebuy back an empty shell company.

"I hope that the Mgmt could do some private arrangement with PAG/CS to have their 40% support and plus the Mgmt holding of 25% it is more conving to get the deals thru. "

Management 20% shareholding is restricted to vote. (CANNOT VOTE)

Capital Repayment is your money, nothing attractive about it. If QA pass through, the guarantee price of 48.5 sen is gone, the price of Mother share might go DOWN.

This is why YIELD investor voted AGAINST at this LOW OIL PRICE event.

Capital Repayment is actually your money. Nothing "SWEET" about it.
For example, Sona to repay 6 sen capital repayment on today (EX), today price 0.46.
Tomorrow share price will be 40 sens. 6 sens payout is deducted from the share price.

With this, if you do not exercise your warrants, you will miss out the CR.
And to exercise your warrants, you need to top up 35sens (to get the 6 sens).
What so SWEET about that?

Warrants buyer beware.

Wow, director sapu 1.6Million shares

*Disclaimer: I have rm50k of Sona Mother shares, bought at 50sens. :-(
Hoping for a QA too in order to have hope to breakeven, but after personally attending the DRAMATIC AGM, I can sense things are heading to a FAIL QA.
Good luck guys

Those who have warrants on hand.
Its your choice to gamble.

Just words for brothers at this forum, why do you want to risk your money on a 4 sen stock that would go BUST (0 value), while there are plenty of stocks in BURSA?
Although your gain of Jackpot is 100% profit, there are still a lot of penny stocks out there that might get u 100% gain without the chance of getting BUST (0 value).

Think twice.

Nothing is for sure, the risk is huge. There are always people who like to take risk.
As some of you suggest, CS and PAG might change their mind.