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.

Sulk it up guys.
Market is open, CS and PAG used real money to buy the shares, they are LEGITIMATELY & LEGALLY to vote NO with their holdings.
So, don't daydream that SC will change rules.
Good luck for warrant holders.
Mother share holders, I think you are on neutral seats.

Still waiting for circular to say we are able to "CHANGE VOTES".
Those who VOTE AGAINST are still against at this point of time.

I don't understand what are you all talking on "CHANGING VOTES FROM NO TO YES"
Last I checked, the circular said the proxy votes signed is FINAL and CANNOT BE CHANGED.

If CS and PAG/ or other shareholders who has file in voted "AGAINST", they can't change it (yet).
Let's wait and see what will unfold.

Sorry to say, I think CS and PAG voted AGAINST, if not, management won't freak out to adjourned.

Convertible, you need to top up 35sen per share to do that.
If you bought RM5k (5sen sona wa) today, you need to top up RM35k to convert your warrant to mother share after QA.

Fact,
Sona-wa Exercise price is 35 sen.

Maths,
If QA on, capital reduction of 8 sen, 46 sen will become 38 sen (adjusted mother price).
The warrant worth 38-35 = 3 sen

If QA on, no capital reduction, 46 sen will remain, the warrant worth 46-35 = 11sen.



So, in conclusion, BUY AT YOUR OWN RISK.
The only way sona-wa can win (based on today price of 6 sen) is

QA on, mother share at 50sen capital reduction 8 sen, hence adjusted to 42sen.
42-35= 7sen worth.

You guys so know, the only way to make ppl vote yes,is to stir the Mother Share above 48.5.
If not, major yield investors would still vote NO.

Capital Repayment does not do much, you buy 46 sen, pay you back 8 sen, the mother share price will go down to 38 sen when done.

With that, the warrant, with exercise of 35 sen, is only worth 3sen. (Even dangerous if sona mother share crash after QA)

Can change NO to YES for the people who VOTED?
The circular mentioned previously, all the proxies votes are FINAL and NOT CHANGEABLE.

Will wait for new circular, whether they eat back their own words

Credit Suisse and PAG has submitted their proxy votes by now.
The warrants seems like showing their VOTE of AGAINST.
Take care guys. I'm going FOR QA tmr.

7 sen of Capital repayment if QA pass through, AKA Special Dividend!

Looks like Credit Suisse and PAG going to vote YES. on this announcement

Credit Suisse SOLD ALL THEIR CLIQ shares before the yield. LOL
source: bursa announcement.

Seems like they fed up on waiting for liquidation.

The Big LONG = Buy Sona-wa NOW.
Either DIE or GAIN 100%
hahaha

Historical chart, AVERAGELY the warrant trade around that price.

Credit suisse warrant holding on Y2014 = 13 Million shares (Average price 15 sen)
Credit suisse warrant holding on Y2015 = 23 Million shares ( Average price 11sen)

Source from AGM Report 2013,2014

if QA is on, warrant price will surge more up to 100%,
or do they want a yield of 4%, with their warrant depleted?
The big question now is, is Credit Suisse a FRIEND OR FOE?

While Malaysians are newly to SPAC,

Dato Sri Hadian, just need to meet the two major funds to discuss things out.
Assign an extra protection for the fund to make the QA ON.
If Dato Sri can get a 50% discount from seller, negotiate this out, seems easy job.
See below example from US.

Stockholders threaten to vote against
a deal, it may require the private
equity sponsor and the SPAC’s
founders to provide an incentive to
the SPAC’s stockholders to vote for
the deal. In the sale of the paper and
packaging assets of Boise Cascade to
Aldabra, Terrapin Partners Venture
Partnership and Boise Cascade
(which consists of the remaining
assets of the Madison Dearborn
portfolio company) agreed to provide
approximately 40 institutional
stockholders with contingent value
rights (CVRs). These CVRs provide
the Aldabra investors, who purchased
their shares at a price of $10.00
per share, with some downside
protection. The CVRs work as follows:
if one year from the date of the
approval of the transaction the
30-day average of the trading price
of Aldabra (the Anniversary Price) is
less than $10.50, then Terrapin and
Boise Cascade are to pay each
stockholder holding a CVR an
amount equal to $10.50 minus the
Anniversary Price, up to a maximum
of $1.00 (on a per share basis). The
payments are to be split equally by
Terrapin and Boise Cascade, and
paid in cash, stock, or a combination
of cash and stock. In exchange for
these CVRs, those stockholders
agreed to vote in support of the
acquisition.

On a serious note,
Salute to Sona Management.

Snubbed by Salamander Deal (Oil price CRASH! haha, lucky no QA)
Push through SC requirements (Cliq fail and die here)
Manage to CHOP 50% discount for QA (Independent advisors say expensive on original price)
After QA still have cash reserve for operations. (WTF!)

Now coming to the last stage.
Seeing the chronological events, Sona Team is having Huge LUCK and management strength all these while.
I strongly believe QA is ON.
Good luck SONA, make history!

Dato Sri Hadian speaks:
https://www.youtube.com/watch?v=o-yVWIHxRL4

@sonapetroleum
What if a shareholder ignore the EGM and does not submit any feedback.
Is this a default VOTE YES FOR ALL?

"but the facts is quite huge amount of proxy are voting NO to this QA."
THE FACT? Voting not started you got the fact, your crystal ball very geng. LOL

QA will GO ON.
1)Credit Suisse who is holding 10+% are in support of Hadian.
2)Read the circular, absent voting shareholders = YES VOTE.
Malaysians, how many of you read and attend AGM? lol

Anyone who likes to gamble, buy warrant now. Super under value. TP 15 cents if QA ON.

Collected 8sen sona-wa.
Waiting it back to 15 sen level by end of 2015.
Last call, news will be announced in October.

Sona-wa exercise price is 35sen, now the price 8sen.
Mother share 43sen.
Premium = 0%, if you convert to mother share. (usually premium of warrant is more than 10%)
Super undervalue, if any noob throw below 8sen,smart fund manager sure ABSORB.

I'm queing everyday for 7sen, comon!

Please sell warrant to me 0.075!

Anything below 10 sen is a superb buy. Wind is blowing strong for new QA.

Michael, the announcement says they already chop off Salamander deal.
Heading aggresively for another potential QA, just join the AGM to know more, cannot reveal too much here.
Buy buy buy~

Sona-wa below 10sen is a great buy.
Always goreng before AGM.

Credit Suisse collect mother shares,
I collect Sona-wa :-D

The reduction of par value is to offset losses and pave way for for RTO.
Restructuring the company for a cleaner takeover in order to conform to SC.
You can have a reference on GW Plastics, which is taken over by MCT lately.

http://heliospv.net/about-us/key-management-profile

funny sellers, 38sen but ppl throw down to 33 sen. haha... free money for those who buy lower than 38

TP 60sen before April 2015.

http://www.bernama.com/bernama/v7/bm/ge/newsgeneral.php?id=1105536

Naib Presiden Pembangunan Perniagaan Sona Petroleum Berhad Datuk Seri Saw Choo Boon

Sona's VP conferred Datuk Seri together with Jackie Chan

After Thaipusam.

Not a good deal.
(a) 1 Rights Shares for every 2 AAX Shares held; and
(b) 1 Warrants for every 2 Rights Shares subscribed for

Meaning 4 AAX share get 1 free warrant, but u need to fork out around additional 50% capital money to invest more.

http://www.theedgemarkets.com/my/article/airasia-x-raise-rm500m

Wtf, raise RM500Million from market!!
Stock price drop never hit IPO price since listed, now RIGHTS ISSUE to raise fund to pay debt.
CEO and key managements are leaving the company.

Looks like very BAD NEWS.

1) Collect before 6/February/2015 which may have positive boost for SONA.
2) Guarantee price of 46 sen from Bank of Deutsche if no QA.
3)Sona Bullish pattern appear.

Very good buy at this point of time

Enjoy the ride.

Refer to 4/Feb/2014 pattern, as 6/Feb 2015 will be big decision for SONA

Time to buy up and get ready back to 20 sen level!

Sona is back, 55 sen tp before CNY

Last chance to accumulate!

Buy now! Europe and USA all RED. OIL Drop.
Don't think KLSE can miracle again tomorrow

yum yum, keep collect.
Inform that there will be Biggest dividend in history before the merging of CCM.

Director acquired 12 cent price at off market with 14 Million shares.
Something GIANT is brewing here.

Picked up some on 0.40, for long term

Suddenly failure to capture O&G asset, turns out to be good news for SONA.
Sona is now in Cash Value of around RM0.470 guaranteed by Deutsche Bank.

"Ok, the deal seems to be off. If you look at it, that is possibly the BEST thing that can happen for Sona. The mother shares have been pummelled from 55 sen to be around 44 sen following the proposed deal with Salamander, owing to the sharp falls in oil prices. No deal means back to cash valuation. Why still fall when the deal is off... its good that the deal is off since oil prices has corrected a lot from whence the deal was announced. Now they can skeet new assets with better pricing. Maybe not 55 sen, but should have no issue climbing back to 50 sen."

http://malaysiafinance.blogspot.com/2014/11/sobering-look-at-sona-petroleum.html

http://www.nanyang.com/node/657659?tid=462

Pakatan Rakyat proposes Capital Gains Tax instead of GST.

In short, to TAX your gains on your STOCKS if rise.

What say you?


Saying that GST is a regressive tax, the coalition is proposing to introduce a Capital Gains Tax for equities (CGT) and Inheritance Tax.

It said under CGT, tax will be imposed on capital gains made on stocks, bonds and other capital transaction involving stocks such as the Employee Share Option Scheme.

Currently, the only such tax similar to this is the Real Property Gains Tax (RPGT) which is limited to properties sold within five years.

It also proposed an inheritance tax involving transfer of assets worth RM5 million and above between family members of the wealthy.

Currently, it said Malaysia does not have any taxes charged on the wealth enjoyed as a result of a transfer of assets among the wealthy.

“If there was an inheritence tax when Lim Goh Tong was alive, the government would have been able to get back some of Lim’s wealth obtained through profits of a gambling license,” said Serdang MP Ong Kian Ming today when unveiling the alternative budget.

Ong said these taxes were preferable to the GST as it is progressive in nature, meaning that the wealthy will bear a higher burden of tax, as a proportion to their income.

"The government often says that GST is good because more than 100 countries (have implemented it), but more than 100 countries also have CGT," Ong said.

Pakatan Rakyat said it reiterated its stands against the implementation of the GST until there is a rise in the people’s disposable income level.

It said that Putrajaya's insistence on implementing the GST on April 1, will very likely face serious challenges.

"If not managed properly, the rakyat, be it the consumer or the business community, will be forced to suffer the heavy economic burden as a consequence," the opposition coalition said.

Pakatan explained that the ultimate tax policy goal of the coalition is to keep income tax rates relatively low and at the same time increase the tax-to-GDP ratio.

In other words, it wanted to collect more taxes by increasing the number of taxpayers but reduce the tax rate burden per payee overall.

"In order to do so, we must uplift the poorer majority to earning a living wage, go after the elite tax dodgers, close tax loopholes and better regulate the shadow and non-productive financial activities of the rich and powerful." he said.

Kelana Jaya MP Wong Chen said that he was informed by Ngeh Koo Ham (DAP-Beruas) that there used to be inheritance tax in the past, but it was no longer around.

"The question is why is it no longer available, the big tycoons are already in their 70s and 80s, and sooner or later they are going to die, they are not immortal.

"So, I think we should prepare to tax these people." he said. – October 9, 2014

- See more at: http://www.themalaysianinsider.com/malaysia/article/pakatan-proposes-capital-gains-tax-instead-of-gst#sthash.nuJbY4XV.dpuf' target='_blank'>http://www.themalaysianinsider.com/malaysia/article/pakatan-proposes-capital-gains-tax-instead-of-gst#sthash.nuJbY4XV.dpuf

Read more here:

http://www.themalaysianinsider.com/malaysia/article/pakatan-proposes-capital-gains-tax-instead-of-gst