only "get out of jail" card for those that bought is it become a potential reverse takeover target. If not:- (1) rights issue to carry on as a going concern? (2) 2 sen here we come and deja vu, 5 shares consolidated into one?
let's assume PUC is one of the successful bidders. How and where is it going to obtain the funds to commence the digital banking business? Another private placement? Rights issue? what will happen to it's share price? Your guess is as good as anyone. Caveat Emptor.
All the rumors about application for digital banking licence in the news and blogs, has the Company informed Bursa it has made an application? Unlike all the other applicants,eg. Pertama, Green Packet, Sunway, Paramount....etc, there is no word yet from this company! Imagine what will happen to the share price if it did not apply, your guess will be as good as anyone.
Start worrying if you bought today. why? Company bought Finsource Solution for 6.8M when you and I can apply for a money lending licence with a 1M paid-up capital company. How much is Finsource worth? Paid for this purchase via issuance of 41.2M shares at 0.165! If you are the vendors will you hold on to your shares when you are able to gain on average 60%? Furthermore, another gain from the disposal of Finsource.
Agree except for designation. Majority of retail investors (I think) had switched to a 0.1% commission account, whereby the brokerage houses will require sufficient cash upfront prior to purchases being allowed. Therefore, caveat emptor should suffice.
Unlike the super bull of the 90"s, for a "goreng" to be successful and can be sustain, presently, it needs to be substantiated with some "juicy" and reliable news. Whether TOcean is a goreng counter, your guess is as good as anyone.
wait till 1st week of July 2021 ( closing date for submission is 30/6) when BNM announces the applicants for the digital banking licences before considering selling. If PUC one of the applicants can consider holding for long-term
52 weeks historical high is only 0.255, did not reach 0.27. Will you pay the price Sunzen is paying for a money lending company? Perhaps, it should consider applying for a money lending licence by itself at a much reduce cost. As always, the devil is in the details?
That I reckon will be the 64K question. Your guess will be as good as anyone under current covid business climate. A more pertinent question we minority shareholders (apologies for assuming you are one like me) should be asking is Finsource Solution worth RM 6.8M
Nearer to 5/4 EGM might move. Shares going to be issue to purchase Finsource Solution S/B priced at 0.165 only. Diversification into money lending business will definitely lead to spike in share price once acquisition is completed
Charts...taking the past to predict the future. Reminds me of the baccarat players at the casinos relying on previous hands result to predict the current hand outcome. Guess how many of these baccarat players died broke whilst the price of GENM keep on going... ? Say no more! All the best to all the chartists out there.
3/3/2020 --- announced there will be free warrants and maximum of 2 months required for submission to Bursa (point #12 of announcement)
9/3/2020 --- announced submission made to Bursa on this date.
Lets assume for determining the VWAP, the 5 trading days before 10/3 is taken,ie.3/3 to 5/3, 8/3 and 9/3. This is ONLY AN ASSUMPTION. From here do make your educated guess on what the conversion price will be. My guess is that it will be in the range of 1.62 to 1.71 depending on the % discount approved by Bursa.
Depending on the speed Bursa review and hopefully approve the submission, we will definitely see an increase in volume nearer to decision day.
Imagine you are one of the lucky ones and bought at below 1.00. Will you add more at current price when the warrant conversion price is not known, assuming approval from Bursa is obtained? Similarly, if you have no position will you chase or considering buying after last Monday meltdown? Therefore, who is able or willing to spike the price based on current available information? Your guess is as good as anyone!
Anyone can assist in explaining the workings of MAG Redeemable Convertible Notes at 20 sen? Does this imply that the converter pays 20 sen and gain one mother share? What is his/her initial cost of the convertible notes and once converted, does it increases the total paid-up capital?