TAKE NOTE OF RECENTLY COMPLETED CORPORATE EXERCISE :-
A. CONSOLIDATION OF EVERY 10 EXISTING ORDINARY SHARES IN MMAG HOLDINGS BERHAD ("COMPANY") ("MMAG SHARE(S)") HELD AS AT 5.00 P.M. ON 30 OCTOBER 2023 ("ENTITLEMENT DATE") INTO 1 MMAG SHARE ("CONSOLIDATED SHARE(S)") ("SHARE CONSOLIDATION") https://www.klsescreener.com/v2/stocks/announcement/0034/2481685
2,422,391,577 MMAG Shares consolidated into 242,239,061 Consolidated Shares on 31 October 2023
================ B. 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") https://www.klsescreener.com/v2/stocks/announcement/0034/2482055
Listing of 1,453,434,366 Rights Shares together with 726,717,178 Warrants on 23 January 2024.
================ Before share consolidation, NOSH = 2,422,391,577 After share consolidation and rights issue, NOSH = 1,695,673,427 Again BILLION of shares issued !!!
================ Current NOSH of 1,695,673,427 will continue to rise if directors continue with the bad habit of raising fund via shares issuance to PP, ESOS, RI, asset acquisition... Retail shareholders equity % and EPS will continue to be diluted by massive shares issuance Company directors collected lots of money from subscribers of rights issue
================ If company continue with annual losses, price will likely drop back to the level before share consolidation
============== 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
For those who take up the 6,000 units of RI at 0.10 and "complement" with 3,000 units of Warrant. Based on today warrant price at 0.065, the average cost will be RM0.0967 (RM6,000 - RM195/6,000). Not much can make.
For those who take up the 6,000 units of RI at 0.10 and "complement" with 3,000 units of Warrant. Based on today warrant price at 0.065, the average cost will be RM0.0967 (RM6,000 - RM195/6,000). ----------- Hello, should be (RM6,000 - RM1950/6,000) Mother be 0.0675 Correct?
any good stock to buy for this short period of time ? this stock can buy in ? Why in january most of the stock is dropping ? Sorry cause i just come back to stock market hahaha ...
Not bad at all! Looks like those who bought into the rights issues are still seeing some profit, even if it's just a little. Currently, it's RM0.01, but when you add in the current price of RM0.095 and factor in the bonus or dividend of RM0.03, it brings the total to RM0.11. Every little bit counts, right?
Be careful of company directors who are good in fund raising via shares issuance to lose money in business. Powerful operators ready to push warrant price higher than shares price. Don't be caught at ridiculous 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....
anisbin
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Posted by anisbin > 2 months ago | Report Abuse
Go go go MMAG...❤️