FAST ENERGY HOLDINGS BERHAD I. PROPOSED SHARE CONSOLIDATION; II. PROPOSED PRIVATE PLACEMENT; AND III. PROPOSED ACQUISITION (COLLECTIVELY REFERRED TO AS THE "CORPORATE EXERCISES")
On behalf of the Board, UOBKH wishes to announce that the Board had on 25 November 2022 resolved to fix the issue price for tranche 5 of the Private Placement at RM0.0877 per Placement Share.
The issue price of RM0.0877 per Placement Share represents a discount of 19.98% to the 5-day VWAP of Fast Energy Shares up to and including 24 November 2022, being the last traded day of Fast Energy Shares immediately preceding the price-fixing date, of RM0.1096 per Fast Energy Share.
This announcement is dated 25 November 2022.
================= Still in price fixing stage to reward selected PP investors Have to check how many more tranches of PP to go.
================= See the selected PP investors make money first Investors with rights issue and undergone share consolidation have to wait longer, hoping directors able to bring in profits
after all, profit after 4 quarters are largely contributed by the company’s new oil bunkering and petroleum trading business segment, where this is expected to continue contribute positively to the company
FAST can increase its profitability in the oil bunkering area – which, as we previously stated, is projected to be quite excellent based on the current view – is one important point to look up for the company.
What's more significant to investors like us is that now is the perfect opportunity to buy shares since the price has been impeded by investors who totally don't comprehend what's going on. revenue for the segment was MYR 50.5 million.
For the longest time, FAST ENERGY HOLDINGS BHD (FAST) had been neglected due to its business being dragged by its non-profitable mould cleaning rubber sheets and LED epoxy encapsulant business, which had resulted in a loss.
In May 12 however, things had started to take a turn. The company had disposed 100% equity interest in Cape Technology Sdn Bhd, which is good for the shareholders in value creation.
Plus, in tandem with other non-profitable companies which include Oriem Technology Sdn Bhd and Techfast Precision Sdn Bhd, the 3 now-disposed or ceased subsidiaries had resulted in RM0.72 million in net losses. Investors must take note that this will no longer impact FAST going forward.
Details of corporate proposal Private placement of up to 35% of the total number of issued shares of Fast Energy Holdings Berhad No. of shares issued under this corporate proposal 13,700,000 Issue price per share ($$) Malaysian Ringgit (MYR) 0.0877 Par Value($$) (if applicable) Latest issued share capital after the above corporate proposal in the following Units 181,397,709 Listing Date 05 Dec 2022
============== Instant profit for lucky PP investors selected by directors. Retail shareholders that had subscribed rights issue or had undergone shares consolidation have to wait longer to breakeven.
========= Expect directors to issue more shares to lucky PP investors
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....