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.
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
Total valid acceptances 216,578,100 16.65 Total valid excess applications 1,082,984,631 83.23 Total valid acceptances and excess applications 1,299,562,731 99.88 Total Rights Shares available for subscription 1,301,147,514 100.00 Not subscribed for 1,584,783 0.12
============ As expected, retail shareholders not willing to fork out more money to Directors fund raising rights issue exercise.
Most of the excess application are likely taken up by operators, directors, friendly penny stock companies to ensure success of the fund raising exercise.
Watch the price movement from now and after the listing date. Operators and major excess rights subscribers will attempt to dispose their shares to the market above the rights issue price of 0.06 to move their fund out. Expect price to move by right hand and left transactions. Retailers trading in the stock, have to be careful not to be caught at high price.
Beware of right hand, left hand pushing the price to attract newcomers.
With less retailer participation, price likely to drop below rights issue price of 0.06 similar to other low price loss making penny stocks like pasukgb, pdz, kanger, fast, sanichi, many more
============== Continue to monitor quarterly results directors plan for utilisation of company funds directors plan for more fund raising via shares issuance
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....
sapdresmen
63 posts
Posted by sapdresmen > 2022-05-27 12:48 | Report Abuse
only worth 4c