A substantial shareholder is one with 5% interest (direct and deemed) in a company.
New under Companies Act s82, 83 and 84
* Timeline for disclosure of shareholding changes for substantial shareholders is 2 business days. (Previously 2 calendar days)
* Only shareholding changes (one transaction or a series of transactions) that result in a 1% change (when rounded down) need be reported.
Example 1: From 5.2% tp 5.3% - no need to report
Example 2: From 5.2% to 6.1% - need to be reported (rounded down means the change would be from 5% to 6%).
Example 3: Series of transactions such as this need not be reported 5.2% => 5.3% (buy 0.1%) => 5.15% (sell 0.15%) => 5.5% (buy .35%) => 5.9% (buy 0.4%)
Example 4: Only the last transaction of this series of transactions need be reported 5.2% => 5.3% (buy 0.1%) => 5.15% (sell 0.15%) => 5.5% (buy .35%) => 5.9% (buy 0.4%) = 6.1% (buy 0.2%)
Begin reading here.
Note the implication of Example 4. A substantial shareholder can "trade" between 5.2% to 5.9% without public investors knowing about it. I was told that the rationale for the change is to make the disclosure requirement upon substantial shareholder less cumbersome.
Bigboy, don't u think its kind of odd that those 2 guys are missing when the stock is down ! They should be giving positive comments NOW, not just when the stock is flying - provided they are genuine.
As stated earlier, i have bought in at 76 today. Chart does seem bearish especially where it broke 77-78 support. I will still keep to my game plan to buy at 72 and 76 level and stoploss at 67. With the recent sovereign downgrade and festive weeks, the current price movement is acceptable and understood. I wish to hold on to redtone until year end before i get stopped out. Good luck all.
dun worry guys, VT will come and save REDTone soon. I am out of the game with VT already. Now teaming up with Dato’ Sri Hadian bin Hashim to go with other share pula! :)
i already check with redtone ...no any signing by next week.... only they have dttb project that on also 3 company in bid in 3 company bid only 1 company will get tat... be careful...
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
jasonlim84
725 posts
Posted by jasonlim84 > 2013-08-05 16:14 | Report Abuse
VT@@