Only help if i m currently holding Myeg shares. Then i will be happy cos i kkow myEg may go up. But shared in this forum ant myEg sounds not so frutful to me...or i m wrong:)
Controlling shareholder TS Wong mops up more shares in MyEG TheEdge Sat, Sep 19, 2020 05:38pm - 2 hours ago
KUALA LUMPUR (Sept 19): Wong Thean Soon, better known as TS Wong, bought an additional 1.31 million shares in MyEG Services Bhd yesterday, according to the company’s filing with Bursa Malaysia.
He bought the block of shares at RM1.405 per share.
Wong is the single largest shareholder of the e-government service provider, with a 31.43% stake, including an indirect 20.87% held via Asia Internet Holdings Sdn Bhd.
Wong has been quite actively accumulating MyEG shares recently, both directly as well as through his investment vehicle Asia Internet. MyEG’s bourse filings show that Wong bought about 5.3 million shares in August, while Asia Internet mopped up five million more.
MyEG's share price has rebounded 73.7% from a trough in mid-March, closing at RM1.39 yesterday. Year to date, the stock has gained 26.4% from RM1.10 at end-2019.
Meanwhile, the company is also conducting share buy-back as well as cancellation of shares. In July, MyEG cancelled 12.5 million shares. Currently, MyEG has 142.18 million shares retained in treasury — equivalent to a stake of about 3.97%.
The company is now in the midst of a major corporate exercise that entails a reverse takeover of Ancom Logistics Bhd (ALB), another listed entity.
In mid-June, MyEG’s wholly-owned MyEG Capital Sdn Bhd bought a 10% stake in Labuan-based S5 Holdings Inc for RM90 million from Merrington Assets Ltd. The purchase consideration will be settled via a combination of RM75 million cash and the issuance of new shares worth RM15 million.
S5 is mainly involved in provision of security technology, intellectual property as well as development and customisation of solutions and systems. It is said to be a company to watch out for in the immigration technology space.
Around mid-July, it was announced that S5 was seeking a back-door listing via ALB.
ALB announced a proposal to take over S5 from S7 Holdings Sdn Bhd, Merrington Assets, MyEG Capital and Avocat Sdn Bhd at a price to be determined after an independent valuation is done. The acquisition will be settled via the issuance of ALB shares.
On completion of the reverse takeover, MyEG Capital is expected to be a substantial shareholder of ALB.
Careful comrades....monitor the progress and take decisive actions cos anythg can go either side..//looking atbthe share price,,,personally i din uave good feeling. I m not jealous nor demoting, just concern. Anyway, hope for the best and good luck to all. Cheers
Comrades..::must aware thisbis a 3 sen stick. If the deal not on it may gi back lower...olease be careful and make wise decision. To me, if it is still positive, this will translate to positive share price.....i dun like what i see. This is entirely my own opinion. Not call to buy or sell. Just sharing with comrades.
Move on guys and girls.... doesnt look good..move to others to recoup your investment...sometimes believing and hoping is one thing....reality is another....dun mean to talk it down. Just concern to all comrades since i was also part of this..anyway hope everythg still be ok. Cheers!
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Agjl
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Posted by Agjl > 2020-09-20 23:29 | Report Abuse
Only help if i m currently holding Myeg shares. Then i will be happy cos i kkow myEg may go up. But shared in this forum ant myEg sounds not so frutful to me...or i m wrong:)