Thanks ETmoney, and I just read the recent blogposts, looks like good things are coming for Supermx.

Eh can we go back to the topic of whether or not supermx is a good buy? I want to board the ship :/

@fauzan personally, no. My target entry was 0.06. Even I missed that. At the moment I don't think the price for the warrant is moving anywhere without a strong sentiment i.e. beautiful QR, incentives, successful OPEC production control deal, anymore giant institutions making a big move to buy shares in Reach. Plus the price isn't diluted yet. Warrant price will be stagnant for quite some time in my opionion.

Topglove is leading the charge.

Is now a good time to grab some supermx? It looks kinda cheaper than Topglov which showed some greens this morning.

A lot of positive news regarding OPEC and non OPEC production control effort. Iran even suggested that the price for crude could go to 55 USD.

I hope the dilution happens before any significant oil price deals/movement, then most of us will be able to capitalise. Price adjusted to lower, sweep some mothers and warrants and wait for the global oil price movement upwards to recover the diluted share price.

Any ideas when will PP be done?

At the moment, it's the harsh truth. The YES will either have to hold until at least on paper they get their capital back, or cut loss and use the money to roll in some other counters. The NO voters, they get bought out, and they have more to spend on diluted share price later which will then shoot up if the OPEC deal is successful. Hopefully the price will hold at some level and not jump off the building.

Thank you MTD, and whoever was involved in the off market transactions.

I like this news http://oilprice.com/Latest-Energy-News/World-News/OPEC-Technical-Committee-Pulls-Forward-Date-For-Cut-Talks.html

Correction on my earlier statement, circular part 4, Appendix VI page 44, there's a table for proved reserves (1P), cashflow summary, figure 4-4.

YeeLou26, agreed, and the oil producers are under immense pressure to achieve something significant during this 30th Nov meeting.

Or can have a look at the circular part 4, page 44, there's a table for proved reserves (1P), cashflow summary.

Whatever the aftershocks that Trump's win (if) caused, hopefully will cause the OPEC and non OPEC strive to achieve a solid agreement during this end of the month's meeting.

or you can read the proxy form for further understanding.

@tionghc2002 The Chairman can be the proxy to vote. Doesn't matter YES or NO. Circular part 1 page 83. The NO through him was 208M.

I own shares. Anchovy level. But I want to buy warrants.

I am a very ardent supporter of the QA but the recent event makes the pro QA feels like they are being shortchanged by Reach. I mean they can spend hundreds of millions to buy out the yield investors at 0.76, whilst the potentially YES voters are left to endure the price stagnation and if PP approved, the dilution some more. If the price is at least at the cash per share level, they get more YES and they can use the minimal/no dissenting vote buyback scenario and the dilution won't be so bad. Prove to us that this asset is worth so much more.

"LaoTzeAhSir

From my latest credible source of info, it's a surefire deal that the QA would proceed. on Monday the warrant price will inevitably sell down by some of the retailers due to the unclear direction, but after Thursday the Reach-wa will easily close new high at above 7cent upon the news. Trade it at your own risk. Good luck everyone.

I attended yesterday and most of the management, institutions there are my friends and I know exactly what they're all about. What do you think? Of course you can take my words here with a pinch of salt. Just wait for this coming Thursday for the result announcement.

The EGM was adjournes purely on technicality. The issue was that there were too many attendees voting via no proxies, which is unsafe. Watch out later.
05/11/2016 14:01


LaoTzeAhSir The warrant holders shouldn't worry too much. That's the only clue I can give now if you don't want to suffer a big ass losses by selling off your stakes along with the panic sheeps.
05/11/2016 14:03


LaoTzeAhSir I'm on the same boat with you. That's the only thing I could promise you. and we don't need 10months. We need just five more days to close the deal.
05/11/2016 14:08 "

what happened might sway more people to vote NO. Tell the management better do what they can to get more YES. No point risking failure if this asset was truly worth the fight.

@Tankhaylong can anyone verify that?

Agreed with you Sunna Sutta, plus I think the management got the ball in their court to repay all those loyal investors since IPO and to prove that this asset is worth fighting for.

fauzan, stockraider, Sunna Sutta's comment sounds like an idea hehe. 0.76 is not that far from current price .

@stockjobber if any of the major warrantholders disposed off their warrants, shouldn't there be a bursa announcement for that? I mean I saw an announcement regarding Shahul buying 1 mill warrant before. Pity the warrantholders though, although the risk is known but the sentiments leading up to today were as if everything is under control. I take back my premature congratulations. Sorry.

The management has 2 days Sat and Sun to get to the media whatever they think they should know to help the QA and 3 more working/trading days to work something out. Interesting adjournment.

@Tankhaylong, can you comment on Reach2Rich's comments? Probably there are people who sold their shares after the cutoff date are not aware of their eligibility to vote.

@hhc8 probably because we passed the first process of voting. The minimum 75% shares required and it sounds logical to me. But let us all wait from those who actually attended.

A press release/conference/circular would be sooo nice :))

At the moment, based on what Reach2Rich said, Reach already got the minimum 75% shares required. They just didn't carry out the show of hands vote but afterwards when they asked, only a few out of all those who attended would say No. I would say the next session will be to get this one done. If anyone got anymore accurate and correct info, they are more than welcomed to correct me.

It would probably be best if Reach mgmt can come up with a press statement or circular to clarify this. If it's true it would probably even help the shares to move up a bit.

I believe we got the 75% shares minimum required since mando, rohank71 and some others were saying that confidently.

Eh Charles T, those figures are proxy votes right? Not including the attendance there. Reach2Rich, this is how I understand your statement, we got the 75% from the total shares required to approve the QA but there was no show of hands votes due to uncertainty during the EGM?

@CharlesT check out Reach2Rich's comments. In terms of shares percentage, the QA has been approved!

I see, thank you Reach2Rich.

Honestly, the offer to buy back the shares of dissenting shareholders at 0.76 is an attractive one. Even can turn a wannabe long term investor to a yield one. When everyone hopes the others' votes can carry the QA forward, and everyone hopes to re enter when price has been adjusted due to PP.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5252313 what do you think?

Agreed, this is good, trying their best till the end.

Congrats to those who grabbed the warrants during the panic selling. A different level of risk takers there. For others, come join the ship after PP (if approved) and sentiments are good.

Wow. Even as a positive person, this result surprised me. You warrant holders will probably cause the price to gap up on monday.

Are you serious mando?

Oh well, once this is confirmed, Reach will have to come up with another QA asap. And the whole process all over again.

Tankhaylong 208 million against and the rest (about 792 mill) for?

Thanks TheContrarian, and everyone. It has been one heck of a journey to get up to this point. All the best!

@speakup hehe your choice. I missed the bus 6 cent bus. Wanted to wait for any confirmation or positive indication first.

Wow someone did wallop all the warrants queued by sellers at 0.06 within 2 minutes.

Reach will need to do more. Again, all the best.

At this stage, the fencesitters don't require much to vote yes. Team Reach, you know what to do. Whatever it is you guys are after, all the best.

For discussion sake, in the circular part 1, they did state the reasons why they came up with the PP. Have a read. From my point of view, it's like they wanted to start operating as E&P OnG company with an almost clean slate (minimal debt) asap instead of paying interest for the remainder of the amount for the shares they bought. Short term investors, contra players will not really benefit from it.

@mando I know I am. I mean looking at the price now, if high chance QA approved, starting with the confirmation of TH voting YES, wallop some lots and keep it like a forgotten treasure.

Haha can anyone confirm the vote first? Lol

"stockraider Tabung Haji Voting Big No....!!
Raider inside source....very reliable mah...!!

Btw...raider also hope QA successful...bcos want to get back monies too by voting NO...!!
Then why raider say so much leh ??
To protect poor potential new Warrant holders from being manipulated of buying useless reach warrant....!!
01/11/2016 10:32"

So do you want the QA to be approved or not? I'm tempted to buy the warrants you know.