hai i heard this stock announce right exercise?? Should i subscript on this exercise or just leave it there do nothing? If i subscript will i get more fund or stock units ?
More like big shareholders and sharks selling at today's manipulated prices (high of 0.18) to reuse the fund to subscribe for the rights shares at 0.10
============= After rights issue fund raising, NOSH = 1,695,673,427 !!! With about 726,717,183 warrants
More lucks needed when rights shares are listed on 23 Jan 2024
With continuation of multi quarter losses and multi year losses, price will eventually dropped below 0.10 !!!
RENOUNCEABLE RIGHTS ISSUE OF UP TO 1,453,434,366 NEW ORDINARY SHARES IN MMAG HOLDINGS BERHAD ("SHARES") ("RIGHTS SHARES") ON THE BASIS OF 6 RIGHTS SHARES FOR EVERY 1 SHARE HELD AS AT 5.00 P.M. ON 21 DECEMBER 2023 AT AN ISSUE PRICE OF RM0.10 PER RIGHTS SHARE, TOGETHER WITH UP TO 726,717,183 FREE DETACHABLE WARRANTS ("WARRANTS") ON THE BASIS OF 1 WARRANT FOR EVERY 2 RIGHTS SHARES SUBSCRIBED FOR ("RIGHTS ISSUE")
Acceptance and Payment 09 Jan 2024 05:00 PM Excess share application and payment 09 Jan 2024 05:00 PM
Date for announcement of final subscription result and basis of allotment of excess Rights Securities 15 Jan 2024
Available/Listing Date 23 Jan 2024
=============== Take note of important dates related to rights issue
Price might drop further after Acceptance and Payment date (9 Jan 2024)
On behalf of the Board, TA Securities wishes to announce that based on the entitlement date for the Share Consolidation as at 5.00 p.m. on 30 October 2023 (“Entitlement Date”), the existing number of 2,422,391,577 MMAG Shares as at the Entitlement Date will be consolidated into 242,239,061 Consolidated Shares (after disregarding the fraction entitlement arising from the Share Consolidation) pursuant to the Share Consolidation.
The 242,239,061 Consolidated Shares will be listed and quoted on the ACE Market of Bursa Securities with effect from 9.00 a.m. on 31 October 2023, being the next market day following the Entitlement Date.
On behalf of the Board, TA Securities wishes to announce that the Rights Issue has been completed with the listing of and quotation for 1,453,434,366 Rights Shares together with 726,717,178 Warrants on the ACE Market of Bursa Securities on 23 January 2024.
============== Take note of completion of shares consolidation and rights issue
Before shares consolidation, NOSH = 2,422,391,577 After shares consolidation and rights issue NOSH= 1,695,673,427 WC = 726,717,178
NOSH still above 1.5 BILLION Shares !!!
Directors will continue to raise fund via shares issuance to PP, ESOS, etc in near future NOSH will continue to rise and exceed 2 BILLION Shares in near future
The details of valid acceptances and excess applications received as at the Closing Date are as follows: ....................................................................................No. of Rights Shares..........................Percentage (%) Total valid acceptances...................................................331,908,060.......................................22.83 Total valid excess applications....................................1,125,211,597.....................................77.42 Total valid acceptances and excess applications..............1,457,119,657..............100.25 Total Rights Shares available for subscription..................1,453,434,366............100.00 Over-subscription.............................................................................3,685,291................................0.25
The successful applicants for the Rights Shares will be given Warrants on the basis of 1 Warrant for every 2 Rights Shares subscribed for.
==================== Take note that most retail shareholders didn't subscribe for the rights issue as shown by the low 22.83% of normal subscription Excess application is extremely high at 77.42%, most likely by operators, cronies and cindy&kate to support the fund raising exercise
================== Take note of the free warrants in the hands of operators, cronies an cindy&kate WC = 726,717,178
WC will likely be release into market for retailers to catch and hold until expiry date with zero value unless the company directors are able to bring in consistent profits from business operations
============== Continue to monitor quarterly results directors plan for utilisation of company funds directors plan for more fund raising via shares issuance to PP, ESOS or asset acquisition
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....
cK1973
1,527 posts
Posted by cK1973 > 2023-12-29 14:14 | Report Abuse
wait at 1c again....
super penny ma