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.

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.