RENOUNCEABLE RIGHTS ISSUE OF UP TO 1,496,319,636 NEW ORDINARY SHARES IN METRONIC GLOBAL BERHAD ("METRONIC" OR THE "COMPANY") ("METRONIC SHARES" OR "SHARES") ("RIGHTS SHARES") AT AN ISSUE PRICE OF RM0.06 PER RIGHTS SHARE TOGETHER WITH UP TO 498,773,212 FREE DETACHABLE WARRANTS IN THE COMPANY ("WARRANTS B") ON THE BASIS OF 6 RIGHTS SHARES TOGETHER WITH 2 FREE WARRANTS B FOR EVERY 1 EXISTING SHARE HELD BY THE ENTITLED SHAREHOLDERS OF THE COMPANY AT 5.00 P.M. ON 10 JUNE 2022 ("RIGHTS ISSUE WITH WARRANTS")
Ex-Date 09 Jun 2022 Rights Issue/Offer Price Malaysian Ringgit (MYR) 0.0600 Ratio (New:Existing) 6.0000 : 1.0000
Date for commencement of trading of rights 13 Jun 2022 Date for cessation of trading of rights 21 Jun 2022
Date for announcement of final subscription result and basis of allotment of excess Rights Securities 05 Jul 2022
Acceptance and Payment 28 Jun 2022 05:00 PM Excess share application and payment 28 Jun 2022 05:00 PM
Based on price movement of other penny stocks with similar corporate exercise, be prepared for share price to drop below rights issue price if rights issue acceptance is low and lacklustre
=============== Continue to monitor quarterly results directors plan for utilisation of company funds directors plan for more fund raising via shares issuance
1. CONSOLIDATION OF EVERY 10 EXISTING ORDINARY SHARES IN METRONIC GLOBAL BERHAD HELD AT 5.00 P.M. ON 20 MAY 2022 INTO 1 SHARE
Consolidation COMPLETED Closing price on 18 May = 0.01 Ex-date 19 May consolidated price = 0.10
================= 2. RENOUNCEABLE RIGHTS ISSUE OF UP TO 1,496,319,636 NEW ORDINARY SHARES IN METRONIC GLOBAL BERHAD AT AN ISSUE PRICE OF RM0.06 PER RIGHTS SHARE TOGETHER WITH UP TO 498,773,212 FREE DETACHABLE WARRANTS IN THE COMPANY ("WARRANTS B") ON THE BASIS OF 6 RIGHTS SHARES TOGETHER WITH 2 FREE WARRANTS B FOR EVERY 1 EXISTING SHARE HELD BY THE ENTITLED SHAREHOLDERS OF THE COMPANY AT 5.00 P.M. ON 10 JUNE 2022
Ex-Date 09 Jun 2022 (COMPLETED) Rights Issue/Offer Price Malaysian Ringgit (MYR) 0.0600 Ratio (New:Existing) 6.0000 : 1.0000 Ex Price = 0.065
================== Date for commencement of trading of rights 13 Jun 2022 Date for cessation of trading of rights 21 Jun 2022
Date for announcement of final subscription result and basis of allotment of excess Rights Securities 05 Jul 2022
Acceptance and Payment 28 Jun 2022 05:00 PM Excess share application and payment 28 Jun 2022 05:00 PM
================ Next date to look forward to :- Date for commencement of trading of rights 13 Jun 2022 Date for cessation of trading of rights 21 Jun 2022
================ Purchases from 9 June onward will not be entitled to subscribe for rights shares @ 0.06
Based on other loss making penny stocks with more or less similar corporate exercises, price will drop back to around rights issue price or even lower.
==================== Pasukgb offered rights at 10sen in June 2021, now trading at 2sen Pdz offered rights at 14sen in Sep 2021, now trading at 4sen Lambo offered rights at 10sen in Aug 2021, now trading at 6sen Fast offered rights at 12sen in Nov 2021, now trading at 4sen And many more like Kanger, Mtouche, Sanichi, Trive, Netx, etc
=============== Before the coming listing of rights shares on 13 July 2022, there are only 216,857,919 shares in the market at the moment. Operators might be able to push the prices to attract newcomers into the game but it will be difficult to maintain the price for long
Be informed that on 13 July 2022, additional 1,301,147514 rights shares will be listed, resulting in total issued shares = 1518005433
RENOUNCEABLE RIGHTS ISSUE OF UP TO 1,496,319,636 NEW ORDINARY SHARES IN METRONIC GLOBAL BERHAD ("METRONIC" OR THE "COMPANY") ("METRONIC SHARES" OR "SHARES") ("RIGHTS SHARES") AT AN ISSUE PRICE OF RM0.06 PER RIGHTS SHARE TOGETHER WITH UP TO 498,773,212 FREE DETACHABLE WARRANTS IN THE COMPANY ("WARRANTS B") ON THE BASIS OF 6 RIGHTS SHARES TOGETHER WITH 2 FREE WARRANTS B FOR EVERY 1 EXISTING SHARE HELD BY THE ENTITLED SHAREHOLDERS OF THE COMPANY AT 5.00 P.M. ON 10 JUNE 2022
Changes in Director's Interest (Section 219 of CA 2016)
Particulars of Director Name DATUK SERI TAN CHOON HWA 1 14/06/2022 1,000,000 Disposed Direct Interest Consideration (if any) RM0.105
2 14/06/2022 863,700 Disposed Direct Interest Consideration (if any) RM0.105
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 16/06/2022
================== Director sold all his shares
================== Price likely to drift lower after closing date and before listing date.
MTRONIC went ex 10:1 consolidation on 19th May ,2022, ex-price 15c. Now , 1 week later it is 12c !!!!! 20 % wipe out for those who go in at 15c or 50% wipe out for those who buy @2.5c before 10:1 consolidation.
On May 25th, as predicted, MTRONIC announce MASSIVE RI, 6 FOR EVERY ONE HELD @6C IF you are still holding at 12c now. just dump and RUN FOR YOUR LIFE. As the ex date of 10:1 approach,price of Mtronic willslide to 6c or below.It is downtrend all the way . If it bounce up to 12c or above, dump to the syndicate. It will drop to 6c and below just b4 the RI go ex
This FINTEC related counters, about 60 of them, are SUPER dangerous. Why? They can drop from 26c to 1c, and @ 1c, that is NOT the bottom yet. It can still drop to 0.05c, a drop of 20 times from1c, ,by initiating 20:1 consolidation.
This 80-90% wipe out for KANGER already happen once in 2021 when Kanger issue right 2.8b share Guys beware of massive slaughter going on in these covid19 MOU/PP/RI/ESOS with 15 qtrs loss making companies. There are about 60 of them, all with same gang of CEO,ED, each earning millions from 5 or 6 companies. And they only produce revenue of 1m per qtr, but loses can come to 70m
DIRECTOR SELLING its immediate level willbe 6c . 3206
Acceptance and Payment 28 Jun 2022 05:00 PM Excess share application and payment 28 Jun 2022 05:00 PM
============== After the closing date, price more likely to drift downward than trending upward, based on observation of price movement of other penny stocks that had undergone similar exercise of shares consolidation and rights issue with free warrant.
=============== Continue to monitor quarterly results directors plan for utilisation of company funds directors plan for more fund raising via shares issuance
1. CONSOLIDATION OF EVERY 10 EXISTING ORDINARY SHARES IN METRONIC GLOBAL BERHAD HELD AT 5.00 P.M. ON 20 MAY 2022 INTO 1 SHARE
Consolidation COMPLETED Closing price on 18 May = 0.01 Ex-date 19 May consolidated price = 0.10
================= 2. RENOUNCEABLE RIGHTS ISSUE OF UP TO 1,496,319,636 NEW ORDINARY SHARES IN METRONIC GLOBAL BERHAD AT AN ISSUE PRICE OF RM0.06 PER RIGHTS SHARE TOGETHER WITH UP TO 498,773,212 FREE DETACHABLE WARRANTS IN THE COMPANY ("WARRANTS B") ON THE BASIS OF 6 RIGHTS SHARES TOGETHER WITH 2 FREE WARRANTS B FOR EVERY 1 EXISTING SHARE HELD BY THE ENTITLED SHAREHOLDERS OF THE COMPANY AT 5.00 P.M. ON 10 JUNE 2022
Ex-Date 09 Jun 2022 (COMPLETED) Rights Issue/Offer Price Malaysian Ringgit (MYR) 0.0600 Ratio (New:Existing) 6.0000 : 1.0000 Ex Price = 0.065
================== Date for commencement of trading of rights 13 Jun 2022 Date for cessation of trading of rights 21 Jun 2022 MTRONIC-OR Price = 0.005 seller quote Closing price on 20 Jun 2022 = 0.09
=================== Acceptance and Payment 28 Jun 2022 05:00 PM Excess share application and payment 28 Jun 2022 05:00 PM Closing price on 28 Jun 2020 = 0.10
================== Next date to look for :-
Date for announcement of final subscription result and basis of allotment of excess Rights Securities 05 Jul 2022
On listing date (13 July 2022), up to 1,496,319,636 rights shares and 498,773,212 warrants will be listed.
Total issued shares will exceed 1.5 BILLION shares again
================= Based on price movement of other penny stocks with similar corporate exercises, there is a high probability of the current price of 0.10 drifting lower toward rights issue price of 0.06, approaching the listing date for the rights issue shares and warrants.
================== 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....