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
(I) PROPOSED DEBT SETTLEMENT TO CREDITORS; (II) PROPOSED DEBT SETTLEMENT TO DIRECTOR; AND (III) PROPOSED 40% PRIVATE PLACEMENT.
On behalf of the Board, TA Securities wishes to announce that Bursa Securities had, vide its letter dated 10 May 2022, resolved to approve the following:
(i) listing and quotation of 373,827,157 new MMAG Shares to be issued pursuant to the Proposed Debt Settlement to Creditors;
(ii) listing and quotation of 15,573,770 new MMAG Shares to be issued pursuant to the Proposed Debt Settlement to Director; and
(iii) listing and quotation of up to 765,665,400 Placement Shares to be issued pursuant to the Proposed 40% Private Placement.
================ Be careful trading high NOSH low price penny stocks
Directors have power to propose shares consolidation to trim down your shareholdings by many times and raise more fund via rights issue with free warrants
=============== Continue to monitor quarterly results directors plan for utilisation of company funds directors plan for more fund raising via shares issuance
================ Be careful trading high NOSH low price penny stocks
Directors have power to propose shares consolidation to trim down your shareholdings by many times and raise more fund via rights issue with free warrants
=============== Continue to monitor quarterly results directors plan for utilisation of company funds directors plan for more fund raising via shares issuance
DEALING IN QUOTED SECURITIES UNDER RULE 9.20 OF THE ACE MARKET LISTING REQUIREMENTS
a. Aggregate sale consideration within the preceding twelve (12) months 20,174,242.00
b. Investments in quoted securities as at 27 June 2022 - Total Cost 33,886,500.00
- Total Book Value 33,886,500.00
- Total Market Value 20,174,242.00
i. Net loss arising from the sale of quoted securities by MMAG Group during financial year ending 31 March 2023 (Sales proceeds add investment cost and incidental expenses)
13,712,258.00
================= Directors using company fund to invest in quoted securities (penny stocks) Incurring losses of 13,712,258.00
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
I wonder how long it stay at the 0.08 level this morning. When I opened n see, at 12pm it was already down to 0.055. This is how fast the stock movement goes. No chance at all for anyone to sell
Be careful trading high NOSH low price penny stocks
Directors have power to propose shares consolidation to trim down your shareholdings by many times and raise more fund via rights issue with free warrants
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 is so-called support & buyers, from 0.050 → 0.045 → 0.040 This is a fail company and con stock! Run before it's too late, they even started to sell their Shah Alam warehouse and office!!
MERIDIAN is the latest high NOSH low price penny stock proposing to do shares consolidation !!! Announcement dated 2 August 2022
=================== Be careful trading high NOSH low price penny stocks
Directors have power to propose shares consolidation to trim down your shareholdings by many times and raise more fund via rights issue with free warrants
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....
Posted by Winner38 > 2022-03-01 16:31 | Report Abuse
Got trapped liao at 0.320..cut loss...