Taking the info from the circular, "Under the No Dissenting Shareholder Scenario, our company will have sufficient funds in the Islamic Trust Account to settle the entire Adjusted Purchase Consideration" and so on.
So we know, some monies from the trust (that was setup during the beginning) were used to pay the NO voters (19%) and additional amount needed to be raised for a smoother start.

Just throwing that out there.

I mentioned this before, after the 181 mill shares were cancelled, price was dipping until the lowest support. This was with less shares on the market. The PP will either bring back the total shares back to its original amount, or less or more. With the current bullish mood in the oil market, in my opinion, the dilution (if there's any) will not be long. They can even publish out positive catalysts like an awesome QR to quickly recover the diluted prices.

Check out the circular part 1 page xviii (lol) . During the EGM, we got 81% Yes and 19% No. So it's not the maximum dissenting shares scenario. Most probably if there were to be any PP, it won't be the maximum shares introduced scenario.

I think 15% is the maximum discount they can give right? Not fixed figure 15%.

haha, I'm no expert, these guys discussing here know a lot more too. What RojakInvestor said is correct. Now is not the time to convert since mother's price is way below 75 cents. It just so happen that people are excited about the prospect of the warrant seeing how low it was. Cannot really quantify how much price will move based on that. We cannot discount the parties controlling the movement of the mother price too since the private placement is yet to be implemented.
For further info read http://www.bursamarketplace.com/index.php?ch=26&pg=93&ac=29852&bb=research_article_pdf

That's awesome rikki.

@Haziq Nazri I have no idea. It's gonna be the start of their quarterly history and their growth. Before this their reports were published twice per year for every financial year. A matter of looking for the best entry point now.

Congratulations wa holders!
Reach is a newborn O&G company at the start of oil rally, and presumably very very minimal debts.
The warrant holders don't have to worry about it expiring until 2022. Who knows what will the mother price be mid of next year. Will we be able to get this warrant price anymore? One of the factors buyers are flocking. I am very keen to see what's the income is gonna be like when the real first QR comes out.

Seriously this counter? There was another one with a takeover offer just recently, it was palette, that one also got another follow up announcement correcting a news report by The Edge. -.-

hian949372, after the meeting approving the asset, about 181 million shares have been cancelled. These belonged to those who voted NO and they have been paid about 76 cents per share.
The placement is to raise money to cover the payment they've made and some other costs to help expedite near future processes by introducing shares which will be bought by a 3rd party at a discounted price compared to market price.
Come to think of it, the prices just before cancellation up till now, havent changed much. Within the 64-62 cents range.

hian949372, acquisition approved already. We are all anxious waiting for the proposed placement and the first quarter report from Reach as an E&P OnG company.

Hehe that's what I hope too marcus123, http://klse.i3investor.com/blogs/hleresearch/110976.jsp this article further strengthened what I saw so far.

Cool, no negative sentiments so far :). Just waiting for the clear bullish hint and I'll join the huat boat.

Any rally coming? Since we are very close to 2 major festive seasons :)

I hope whoever give so called insights of the coming good news, your words come to fruition because I know a few people who are in this and clinging to those words and refusing to cut lost.

Good discussion guys, I learned a lot.

Wow...I hope whoever was involved in this find a way to cope with the coming impact.

Apparently the director has resigned before the EGM, check this out http://www.theedgemarkets.com/en/node/321056 . Anything interesting coming? :)

Was looking at the transaction during the last 10 mins of the trading session, somebody sold less than 40000 unit at 0.94. Purposely wanna make chart look bad? :P

@cruz nobody outside the company really knows I think. They should release some details to give us some idea. But basically with increased price, that should more than offset the reduced production volume. From one of the interviews, Shahul gave us the idea that if they wanted to, they could push production to record highs by activating all the available wells, but no point doing that with the glut that was haunting.

Hehe crude 53++ and brent 56++ already.

May Reach makes us all rich :)

Hi Sephy, thanks for the news. I saw a few counters like Topglov showed positive moves yesterday. One of our biggest institutes also bought millions of Topglove shares earlier this month. Will be interesting to see how Supermax will react. After lunch trading session showed a hint of interest from buyers.

@joetosh ya agreed. At the moment, the BNM is really closing the lid on exporters. The old time O&G counters will take some time to recover from the damage they have suffered since oil prices plunged and prove that they can still make profit but who knows.

or was. And it has just been approved, their 'overhead' since 2014 has been covered by the funds raised through the IPO. All those reports since 2014 only showed the cost incurred, the next real quarter report should show us the cost for the shares acquired for the Kazakh field and the INCOME they said that Reach is entitled to once shareholders approved since Oct 2015.

@cheated do you know Reach is an SPAC? This company has no income until it has been approved to become an E&P O&G company. Read more :)

Looks like the price is being pushed further down :)

Crude= 52++ and Brent=55++ . Keep holding!

http://klse.i3investor.com/blogs/stockman/110711.jsp I like this way of thinking.

And Reach is like a newborn, so far to our knowledge, every penny spent is investors' monies.

Yep, the best is to hold on to your shares especially if you bought it at a lower prices. Not the time to cut loss or anything like that since the world oil prices have just started their rally.

Crude is 50++ USD, the dissenting shares have been cancelled, total shares left has been reduced till the PP and the USD is strengthening. This counter is due for a great show.

Still, 20+ cents increment..no joke. USD gaining strength everyday...

my bad, the meeting is at 10 AM Vienna's time, so it has just started. CharlesT, I don't think it will go that low if the meeting fails. These producers will surely arrange another one following this one. Some of the members are really really desperate. But if it does, your call.

Fauzan, I don't think anyone outside the meeting knows the outcome yet. Best case scenario is, they are trying to keep everything hush hush, collect oil related portfolios at low prices as many as possible and make a grand announcement. This could be the last time for them to make a killing at it.
Worst case scenario, haha, meeting fails, oil prices plunge and probably some dead cats will bounce till the next effort.

Exporters are probably recovering. A good chance to make money.

It's not confirmed yet right? Still require certain processes i.e. EGM, voting et cetera.

Hehe check out the Kenanga blogpost, the TP is still quite high. Alrighty, this goes into my closely watched counter.

Thanks Titus, I'm just looking for the best entry point at the moment. The Edge reported that RM will most likely sink to 4.6 against USD, hopefully this will translate to better revenue for the exporters/those whose income are in USD.

By the way, the meeting in Vienna should start at around 11 AM their local time, which is about 9 hours away.

In one aspect yes, but in another, entity like Petronas whose budgeting is based on a lot higher price, the bulk of the O&G counters who depends on Petronas to give out contracts in Malaysia mainly will suffer.

@chernhung hehe I was there when the counter showed a wonderful uptrend and managed to snag some profit some time last year to early 2016. It was promising that time. I thought I wanna take a contrarian move this time around but we'll see. All the best retailers! Huat!

Just keeping an eye open for a potential reversal. That's all. :). Tough market nowadays.

Alrighty, thanks for the suggestions peeps. Will look into the others. I like supermx. Hopefully the counter recovers.

I see, thanks BuyWithConviction. I'm looking at the medium term since RM is weakening and the prospect that whatever policies Trump will implement once he stepped into office will further strengthen the USD. The price now seems like a bargain to me. Same like Evergreen too. I'm looking at these 2 since they are not that high up compared to Topglov or Kossan.

http://klse.i3investor.com/blogs/sjsoonwriteup/108906.jsp
quoting these lines:

"Referring to the above figures, FY2016 in fact only consisted of two quarters based on the old accounting FY cut off period. On YoY basis, the revenues of periods ended on 31 Mac and 30 June were growing at 0.8% and and 16.20% respectively thanks to (1) 10.4% rise of sales from overseas distributors; (2) re-commissioning of upgrading production lines 10 and 11; (3) HIgher Average Selling Price improved 7.5% as a result of higher material cost. Meanwhile, the net profits dropped 18.13% and 72.51% owing to higher effective tax rate. As mentioned in Kenanga 's Report, "...

and after looking at their latest result, the revenue, the nett profit, and the EPS have improved. So I'd say it is a good counter to buy right?

based on my observation, it's quite oversold now, just waiting for confirmation to go in, and should be able to make some monies this week.

USD keeps going up, 4.46 already, tempting to go in now.

be on the alert on any news from the meeting through bloomberg, investing.com, what have you, if not successful, I doubt we'll see any progress in the near future.

@air01557 thank you, will monitor for entry then.

the closest factor which might push Reach price up (and some O&G counters which are also directly exposed to the movement of the world oil prices) is the positive result of the OPEC meeting this 30th Nov in Vienna. If the meeting is successful, this could be one of the major turnpoint for the oil prices and we won't be seeing these low low prices for another few years until the cycle is at the bottom again.

NTA increased. That's good right?