MMAG HOLDINGS BERHAD ("MMAG" OR "COMPANY") (I) PROPOSED DEBT SETTLEMENT TO CREDITORS; (II) PROPOSED DEBT SETTLEMENT TO DIRECTOR; AND (III) PROPOSED 40% PRIVATE PLACEMENT.
On behalf of the Board of Directors of MMAG (?Board?), TA Securities Holdings Berhad (?TA Securities?) wishes to announce that the Company proposes to undertake the following:
(i) proposed settlement of amount owing to certain creditors of MMAG and its subsidiary of an aggregate sum of RM22,803,456.71 to be fully satisfied via issuance of a total of 373,827,157 new ordinary shares in MMAG (?MMAG Shares?) at an issue price of RM0.0610 each (?Proposed Debt Settlement to Creditors?);
(ii) proposed settlement of amount owing to Kenny Khow Chuan Wah (an Executive Director of the Company) of RM950,000 to be fully satisfied via issuance of 15,573,770 new MMAG Shares at an issue price of RM0.0610 each (?Proposed Debt Settlement to Director?); and
(iii) proposed private placement of up to 765,665,400 new MMAG Shares, representing up to 40% of MMAG Shares in issue (excluding treasury shares, if any) (?Proposed 40% Private Placement?), (collectively referred to as ?Proposals?). Please refer to the attachment below for further details of the Proposals. This announcement is dated 10 March 2022.
==================== Directors proposal for Massive share issuance coming on the way !!! Shares to be issued = 373,827,157 + 15,573,770 + 765,665,400 = 1,155,066,327
==================== Total issued shares = 1,312,469,925 will increased to 2,467,536,252 PA = 179,986,013 WB = 197,207,491
================== Massive dilution to shareholders equity % and EPS NOSH will increase to near 3 BILLION SHARES upon full implementation and full conversion of PA and WB
=================== Monitor :- Director's proposal for more fund raising via share issuance to PP, ESOS Director's utilisation plan of company fund Quarterly reports (multi year losses since 2006) Contribution of profits from main business to company fund (not from fund raising)
=================== TAYOR, don't be caught at high price
Be aware of shares issuance at 0.061 to creditors and directors. Be careful of operator frying up for them to make profits disposing to open market retailers
=================== SETTLEMENT OF AMOUNT OWING TO CERTAIN CREDITORS OF MMAG HOLDINGS BERHAD ("MMAG") AND ITS SUBSIDIARY OF AN AGGREGATE SUM OF RM22,803,456.71 TO BE FULLY SATISFIED VIA ISSUANCE OF A TOTAL OF 373,827,157 NEW ORDINARY SHARES IN MMAG ("SHARES") AT AN ISSUE PRICE OF RM0.0610 EACH
No. of shares issued under this corporate proposal 373,827,157 Issue price per share ($$) Malaysian Ringgit (MYR) 0.0610 Listing Date 23 Jun 2022
==================== (i) 373,827,157 new Shares pursuant to the Debt Settlement to Creditors; and
(ii) 15,573,770 new Shares pursuant to the Debt Settlement to Director.
My colleague lost 20 thousands in this counter!! Don't be fooled by the fake support, hundred of million of the buy queue will be cancel suddenly and the price will drop 10%-20% in 1 min, YOU CANT ESCAPE!!!
How many of u managed to escape their grip by selling at 0.08 or even 0.085 this morning. As for me, I never expect this stock to move up so fast to 0.085 n also come down just as fast on a top list of most actives. I really miss the boat, if not I will have cut loss at 0.08
Be careful, this is CON stock... they played the same pattern as VC last time... goreng up and slowly releasing with big SELL and small BUY but the price going up... soon it will hit 2s... same as VC.. MADAM in both counters...
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....