If really what Pmaster said today many people bought for a rebound, so now they're suffering losses, they may wanna consider unwinding back their position to protect their capital from eroding further

But no matter what, the President of UMWOG has reaffirmed that the rights issuance will still take place no matter what, even if PNB is the sole taker

I guess, just wait for some stabilisation or even uptrend signal before entering. Cos it's almost impossible to predict the bottom

Why did the insider sell UMWOG?

Name of

Principal Officer

Date of

Dealing/Transaction

Type of

Dealing/Transaction

Number of

Affected Shares

% of Issued

Shares

Price per share

(RM)

Chew Eng Hong

11 July 2017 Disposal of Shares 60,000 shares 0.0028 RM0.405

then perhaps they must adjust the RI to about 20 sen per piece to make it attractive again?

I thought pnb will be the underwrite for the RI? No?

so what is the latest TP for UMOWG?

I understand the current sentiment is bad, but it's quite hard to see UMWOG's market share to decrease to below RM 400 million?

If what u said on pnb have to buy 99% of RI, then it may trigger a mandatory takeover? This is because the rights issue is huge compared to the current outstanding shares

The thing is, if it goes below 30 sen, then will pnb be the only subscriber? Cos it doesn't make sense to subscribe to the rights issue if you can go and buy directly at a lower price ya?