Yes. Sack the current directors and stop the dilution this coming EGM 19th July. If can not attend, send in your Proxy Forms. Vote for Change. Supporters website https://savem3tech.wordpress.com/
Vote to oust the current directors turning M3Tech into a Pump and Dump.company Send your vote via Proxy. Find out how to here https://savem3tech.wordpress.com/
Calling himself sblimsupporter, it is obvously he is not.. Trojan "snake" ! What they are doing is so obviously. Chairman issue himself 120m shares for the coming EGM on 19th July. and the main Suit is still waiting for full trial. Even staff put up a blog to tell the world about what is inside M3Tech now.. https://site785.wordpress.com/
Last EGM, they only has 76m vs 146m vote against, They are 70m short then, Now issue 120m for himself, but dont forget there are 500m still in retailers hands.
Padan muka , tak cukup syer. Private placement ditolak.., rebutlah syer dari pasaran terbuka kini. Ada katak yang sanggup jual mahal, contohnya katak2 pn
Earlier in April, M3 Technologies (Asia) Bhd shareholders also rejected a proposed private placement by the company involving 232.15 million shares, or 30% of its share capital, to raise RM9.82 million. In terms of percentage of shares voted, 65.67% voted against the resolution, while 34.33% were in favour.
It has not gone unnoticed that there has been a marked increase in private placement activities on Bursa Malaysia since last year, as companies take advantage of ample liquidity in the market to raise cash by selling shares to pre-identified investors.
Generally, a private placement exercise is deemed to be earnings-dilutive for minority shareholders, as they are not included in the fundraising process. There is also the risk of future speculation, and minority shareholders are put at a disadvantage as they often do not know whom the shares were placed out to.
While it is not publicly known why shareholders of KNM and M3 Technologies rejected the proposed private placement exercises, their actions speak well for shareholder activism.
Minority shareholders should be more active in voting at shareholder meetings as it affords them the opportunity to influence the outcome. If you think a particular private placement exercise is earnings-dilutive and unfair to you, you should go out and vote, or at least let your voice be heard in the EGM.
Having said that, when a company, whose major shareholder controls more than 50% of the shares, decides to place out placement shares to independent third-party investors, minority shareholders can do little to block the resolution if the major shareholder is for it.
Singaporean mau telan m3 kot? Dollar Singapura kuat, 3 kali Ganda RM +++ senang je, Bayar lebih sedikit :)
0017 M3TECH M3 TECHNOLOGIES(ASIA)BHD Notice of Interest Sub. S-hldr (Section 137 of CA 2016) Particulars of Shareholder Name : CHEW SHIN YONG, MARK NRIC/Passport No./Company No. : - Nationality/Country of Incorporation : Singapore Address: - Descriptions (Class and Nominal Value): Ordinary Shares Name and Address of Registered Holder: You are advised to read the entire contents of the announcement or attachment. To read the entire contents of the announcement or attachment, please access the Bursa website at http://www.bursamalaysia.com Details of Changes Date of Notice : 06/07/2021 Transactions: No. Date Transaction Type No of Shares Price (RM) 1. 06/07/2021 Acquired 41,383,081 - Circumstances by reason of which change has occurred: Exercise of options under the Employees Share Option Scheme Nature of Interest: Direct Interest Consideration:
No of Shares Held After Changes: Direct : 49,708,081 shares (5.5630%) Total : 49,708,081 shares Remarks: You are advised to read the entire contents of the announcement or attachment. To read the entire contents of the announcement or attachment, please access the Bursa website at http://www.bursamalaysia.com Submitted By:
Amboi, buat untuk masuk pasaran terbuka pun dah dibuat. Pelawanan yang luar biasa dah diistihar kan? :)
0017 M3TECH M3 TECHNOLOGIES(ASIA)BHD DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) M3 TECHNOLOGIES (ASIA) BERHAD ("M3TECH" OR THE "COMPANY") You are advised to read the entire contents of the announcement or attachment. To read the entire contents of the announcement or attachment, please access the Bursa website at http://www.bursamalaysia.com
M3 Technologies (Asia) Bhd. engages in the provision of mobile value added services. The firm operates though the following geographical segments: Malaysia, Thailand, Pakistan, and Other Countries. The company was founded by Lim Seng Boon in 1999 and is headquartered... Lot 17.1, 17th Floor, Menara Lien Ho Petaling Jaya Selangor 47410 Malaysia EmailWebsiteMap Employees Sector Software Sales or Revenue 37.26 M Industry Technology 1Y Sales Change 2.66% Fiscal Year Ends December 31 Download Reports Shin Yong Chew Executive Chairman Seng Boon Lim Managing Director & Executive Director Muhammed Akif Ahmat Group Finance Manager Asma Binti Aripin Head-Research & Development
KUALA LUMPUR (May 20): M3 Technologies (Asia) Bhd said two shareholders have filed a lawsuit to stop the mobile services provider from undertaking an employees share option scheme (ESOS) or any other corporate exercise that will serve to dilute their shareholding.
"The company would seek legal advice on the matter and the company will make the announcement on material development in respect of this as and when necessary," M3 Tech said in a stock exchange filing.
The two substantial shareholders are Lim Seng Boon, who stepped down as the group's managing director three months ago, and Voon Sze Lin. They have a combined shareholding of 13.5% in M3 Tech, with Lim controlling a 7.4% stake and Voon holding a 6.15% stake.
Lim and Voon had last month sought to convene an extraordinary general meeting (EGM) to remove four M3 Tech directors and to appoint four others to the board. They wanted to remove executive chairman Mark Chew Shin Yong, non-independent and non-executive directors Datuk Chai Woon Chen and Ng Kok Heng, as well as executive director Nicholas Wong Yew Khid.
The move came a week after seven shareholders collectively holding 146.1 million shares rejected M3 Tech's proposed private placement — of up to 232.15 million new shares or 30% of share capital to raise RM9.82 million — at an EGM on April 19.
Lim and Voon had also called for the termination of the ESOS, comprising 231.38 million share options (equivalent to close to 30% of the group's existing issued share capital of 773 million shares) at an exercise price of five sen.
M3 Tech had proposed the private placement and ESOS in March. The group had previously completed a private placement of 128.54 million shares in January, equivalent to 20% of the group's issued share capital then.
Besides Lim and Voon, another substantial shareholder of M3 Tech is XOX Bhd, which holds a 9.39% stake — including a 5.23% stake held via XOX (HK) Ltd.
KUALA LUMPUR (May 7): M3 Technologies (Asia) Bhd (M3 Tech) has declared that the notice of extraordinary general meeting (EGM) to remove four directors and to terminate the employees share option scheme (ESOS) is null and void.
The statement was made on the ground that the two shareholders, namely Lim Seng Boon and Voon Sze Lin, who want to convey an EGM do not have a combined shareholding of 10%.
In a filing with Bursa Malaysia, M3 Tech claimed that it had verified its official records and confirmed that both Lim and Voon “are not members of the company for at least 10% of its paid up capital”.
“In the same verification, the company had also discovered that Lim had misled the company over his shareholdings in the company by serving Section 138 notice to the company that contained false and/or misleading information,” it added.
As such, the company had appointed Messrs Chong + Kheng Hoe, and had today filed an originating summons and application for injunction against Lim and Voon for, amongst others, a declaration that the notice is null and void, and also damages, said M3 Tech in the filing.
However, the earlier filing showed that the duo had a combined shareholding of 13.5% with Lim holding a 7.4% stake and Voon a 6.14% stake.
To recap, Lim, who stepped down from the group's managing director post three months ago, together with Voon had requested to convene an EGM to remove four directors and to appoint four others to the board last month.
The two want to remove executive chairman Mark Chew Shin Yong, non-independent and non-executive directors Datuk Chai Woon Chen and Ng Kok Heng as well as executive director Nicholas Wong Yew Khid.
Meanwhile, Voon intends to take up the non-independent chairman post, and have three others — Yeoh Boon Hock, Shaifubahrim Mohd Saleh and Muhammad Zul Hanafi — as independent directors.
Furthermore, they are also calling for the termination of the ESOS announced on March 4. The ESOS entailed a total of 231.38 million share options — equivalent to close to 30% of the company's existing issued share capital of 773 million shares — at the exercise price of five sen to eligible employees.
In March, a group of seven shareholders rejected the proposal of private placement of up to 30% of the company’s issued share capital.
Should the share placement materialise, it would be the second one in less than 12 months. M3 Tech completed a private placement on Jan 18, placing out 128.54 million shares or 20% of its share base at the time.
The other substantial shareholders of M3 Tech are public-listed firm XOX Bhd holding 9.39%, DGB Networks Sdn Bhd (3.32%) and Choong Yean Yew (2.42%).
Commentary on Prospects The COVID-19 pandemic and the resulting imposition of Movement Control Orders (and their various different adaptations) have led to an unexpected surge in online services, banking in particular. This has resulted in an increase in the volume of SMS traffic provided by our Mobile Solutions Services arm, contributing to a 7% increase in revenue over the previous quarter, and a 20% increase over the similar period in 2019. The launch of our new messaging portal allows direct connection to all of the most popular Instant Messaging apps such as WhatsApp, WeChat, Telegram, etc. This emancipates us from the restrictions of SMS, and opens up a significantly larger user base, that will also benefit from richer message content. Our Cloud Solutions segment has seen a significant drop in revenue, as our customers have primarily been in the Retail, Food & Beverage, and Hospitality industries. However, we have swiftly shifted the focus of our i3Display devices from push advertising to temperature checking and contact tracing, two highly sought-after services in this new paradigm. The Group will continue to focus on growing existing revenue generating business activities and undertaking progressive strategies to realign cost structures, practicing prudent spending to stay resilient in these difficult times.
BOARD MEMBERS AND SENIOR OFFICERS Mr. Shin Yong Chew Executive Chairman of the Board since: 2010role: Officer & Director Mr. Yew Khid Wong Executive Director since: 2021role: Officer & Director Pui Yee Thong Company Secretary since: 2020role: Officer Yuet Chyn Wong Company Secretary since: 2020role: Officer Datuk Woon Chet Chai Non-Independent Non-Executive Director since: 2016role: Director Mr. Ket Inn Yong Independent and Non Executive since: 2021role: Director Mr. Kok Heng Ng Non-Executive Independent Director since: 2018role: Director
OMPANY PROFILE M3 Technologies (Asia) Berhad is a Malaysia-based mobile value added services (VAS) provider. The Company is engaged in the provision of mobile solutions. The Company's segments include Malaysia, Thailand, Pakistan and Other Asian Countries. The Company's business also encompasses a range of mobile solutions and platforms, such as multimedia products, wireless access protocol (WAP) and Java 2 Micro Edition (J2ME) applications catering to all channels of its business, such as Business to Consumer, Business to Business and Business to Owner). The Company delivers approximately two billion messages per month with global delivery and settlement of mobile messaging and data services, which include short message service (SMS), multimedia messaging service (MMS) and WAP. The Company has connections to over 175 mobile operators, including mobile interoperability messaging and the distribution of value-added services.
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Posted by cumcumshot > 2021-06-29 23:21 | Report Abuse
https://www.thestar.com.my/business/business-news/2021/06/29/shareholders-shoot-down-knm039s-private-placement-plan
KNM's again private placement was shot down. Private placement has become a tool for the major shareholders to make $$