Again, many were caught in the price range of 0.10¢ n bought into it thinking it should stabilize n start to move up. What happened now! A real con counter, this one is. Don't know how many got trapped this latest round.
I'm a victim of this scammer stock. you guys can search my comments few months ago Don't believe the buy queue too much, it's a trap, 100 million buy queue will disappear suddenly and make the price dump in 1 min, u have no time to run but lost your hard earned money. Don't trust MMAG!
Changes in Director's Interest (Section 219 of CA 2016) MMAG HOLDINGS BERHAD
Information Compiled By KLSE
Particulars of Director Name MR KENNY KHOW CHUAN WAH
1 09/02/2022 39,969,400 Disposed Direct Interest Name of registered holder Valhalla Capital Sdn. Bhd. for Kenny Khow Chuan Wah
Consideration (if any) RM0.0856
Circumstances by reason of which change has occurred Disposal via open market Nature of interest Direct Interest Total no of securities after change Direct (units) 0 Direct (%) 0.000 Indirect/deemed interest (units) 0 Indirect/deemed interest (%) 0.000 Date of notice 09/02/2022
========== Direct disposed all shares. Is this good news? Or the director know something big is happening?
One day of high volume for director to sell at good price.
PA = 179,986,013 Maturity 2022-11-27 Strike value 0.2000
WB = 197,207,491 Maturity 2022-11-27 Strike value 0.2000
Previous corporate exercises :
Announced EX Date Subject Ratio Offer 20 Oct 2017 01 Nov 2017 Rights Issue (warrant) 1 : 2 0.2500 20 Oct 2017 01 Nov 2017 Rights Issue 2 : 1 0.0500 28 Jun 2017 10 Jul 2017 Share Consolidation 4 : 1 09 Jun 2011 21 Jun 2011 Rights Issue (warrant) 2 : 1
Massive fund raising via shares issuance in 2020 - 2021 to PP and conversion of PA As at 30/9/21, Company fund 31million and debt 41million
Director disposed all shares Name MR KENNY KHOW CHUAN WAH 1 09/02/2022 39,969,400 Disposed Direct Interest
============================= What will happen next ?
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
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....