MULTIPLE PROPOSALS METRONIC GLOBAL BERHAD (I) PROPOSED DIVERSIFICATION; (II) PROPOSED SHARE CONSOLIDATION; AND (III) PROPOSED RIGHTS ISSUE WITH WARRANTS
(i) proposed diversification of the existing business of Metronic and its subsidiaries (“Metronic Group” or the “Group”) to include the design, research and development, installation, engineering, procurement, construction, commissioning and maintenance of solar PV panels, equipment and facilities and other related activities including solar leasing (“Solar Energy Business”) (“Proposed Diversification”);
(ii) proposed consolidation of every 10 existing ordinary shares in Metronic (“Metronic Shares” or “Shares”) into 1 Share (“Consolidated Share”) (“Proposed Share Consolidation”); and
(iii) proposed renounceable rights issue of up to 1,742,433,306 new Shares (“Rights Shares”) together with up to 580,811,102 free detachable warrants in the Company (“Warrants B”) on the basis of 6 Rights Shares together with 2 free Warrants B for every 1 Consolidated Share held by the entitled shareholders of the Company on an entitlement date to be determined (“Entitlement Date”) (“Entitled Shareholders”) (“Proposed Rights Issue with Warrants”).
Date Announced 19 Nov 2021
==============================
NEWBIES be reminded of above proposals which require shareholders to fork out more money to donate to directors fund raising exercise.
Fast, easy convenient way for directors to raise probably RM100 mil (if rights issue price is 10sen)
(ii) proposed consolidation of every 10 existing ordinary shares in Metronic (“Metronic Shares” or “Shares”) into 1 Share (“Consolidated Share”) (“Proposed Share Consolidation”); and
(iii) proposed renounceable rights issue of up to 1,742,433,306 new Shares (“Rights Shares”) together with up to 580,811,102 free detachable warrants in the Company (“Warrants B”) on the basis of 6 Rights Shares together with 2 free Warrants B for every 1 Consolidated Share held by the entitled shareholders of the Company on an entitlement date to be determined (“Entitlement Date”) (“Entitled Shareholders”) (“Proposed Rights Issue with Warrants”).
On behalf of the Board, Mercury Securities wishes to announce that Bursa Securities had, vide its letter dated 24 January 2022, approved the following:-
(i) admission to the Official List and listing and quotation of up to 580,811,102 Warrants B to be issued pursuant to the Proposed Rights Issue with Warrants;
(ii) listing and quotation of up to 1,742,433,306 Rights Shares to be issued pursuant to the Proposed Rights Issue with Warrants;
(iii) listing and quotation of up to 66,130,490 additional Warrants A to be issued pursuant to the adjustments to the exercise price and number of Warrants A as a result of the Proposed Share Consolidation and Proposed Rights Issue with Warrants (as the case may be) in accordance with provisions of Deed Poll A (“Additional Warrants A”);
(iv) listing and quotation of up to 580,811,102 new Metronic Shares to be issued arising from the exercise of the Warrants B; and
(v) listing and quotation of up to 66,130,490 new Metronic Shares to be issued arising from the exercise of the Additional Warrants A.
The approval by Bursa Securities is subject to the following conditions:-
======================== One step closer to implementation of shares consolidation and rights issue with free warrant. One step closer for directors to raise multi-million dollar from shareholders.
======================== See price movement of other penny stocks with similar corporate exercise for guidance Pasukgb, lambo, pdz, sanichi, trive, mtouche, etc
Changes in Sub. S-hldr's Int (Section 138 of CA 2016) M N C WIRELESS BERHAD
Particulars of substantial Securities Holder Name METRONIC GLOBAL BERHAD Acquisition of shares via open market
Direct (units) 137,356,400 Direct (%) 12.063 Indirect/deemed interest (units) 0 Indirect/deemed interest (%) 0 Date of notice 06 Feb 2020
======================= Notice of Person Ceasing (29C) NETX HOLDINGS BERHAD
Particulars of Substantial Securities Holder Name METRONIC GLOBAL BERHAD
No of securities disposed 50,000,000 Disposal of shares through open market Nature of interest Direct Date of notice 07 Nov 2016
========================= CONTINUE TO MONITOR :- UTILISATION OF COMPANY FUND FOR STOCK INVESTMENT DIRECTORS PLAN TO RAISE MORE FUND VIA SHARE ISSUANCE TO ESOS, PP FINANCIAL RESULT FOR NEXT FEW QUARTERS (COMING SOON BY MONTH END)
===================== Type of Meeting Extraordinary Indicator Notice of Meeting Description Metronic Global Berhad ("Metronic" or "the Company") - Notice of Extraordinary General Meeting Date of Meeting 21 Mar 2022 Time 10:00 AM
2. Special Resolution Description PROPOSED CONSOLIDATION OF EVERY 10 ORDINARY SHARES IN METRONIC INTO 1 SHARE ("CONSOLIDATED SHARE") Shareholder’s Action For Voting
man my relative bought this at 10c, she didnt want to cutloss at 8/7/6/5/4/3c now she gave up, kena con until speechless say investing > FD that only work if you invest in solid companies with either growth / dividends not CON SH!T counter, rip to her savings, she lost like 80k just this crap counter alone hoping it would go back up
mtronic / alam / sanichi / g3 she lived at penthouse in these 4 counters, not wanting to cutloss early. now its like no point cut already lose so much might as well leave it and pray for some SUCKER to get trap which i doubt
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....
azakwan480
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Posted by azakwan480 > 2021-11-22 11:46 | Report Abuse
Bursa still sleeping........