SHAREHOLDINGS OF MR KUAH BEFORE AND AFTER DISPOSAL
Notice of Interest Sub. S-hldr (Section 137 of CA 2016) TECHFAST HOLDINGS BERHAD Particulars of Substantial Securities Holder Name MR KUAH CHOON CHING Date interest acquired 23 Mar 2021 No of securities 23,441,860 Circumstances by reason of which Securities Holder has interest Issuance of 23,441,860 ordinary shares for partial purchase consideration for the acquisition of 175,000 ordinary shares in CCK Petroleum Sdn Bhd Total no of securities after change Direct (units) 23,441,860 Direct (%) 6.704 Indirect/deemed interest (units) 0 Indirect/deemed interest (%) 0 Date of notice 26 Mar 2021
===================================== Notice of Person Ceasing (Section 139 of CA 2016) FAST ENERGY HOLDINGS BERHAD Particulars of Substantial Securities Holder Name MR KUAH CHOON CHING Date of cessation 18 Oct 2021 No of securities disposed 15,302,325 Circumstances by reason of which a person ceases to be a substantial shareholder Ceased to be substantial shareholder due to disposal of 15,302,325 ordinary shares via open market transaction. Nature of interest Direct Interest
Date of notice 25 Oct 2021 Date notice received by Listed Issuer 25 Oct 2021
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Mr Kuah sold down FAST shares meaning he is not interested in the rights issue shares?
Basis and justification of determining the issue price and Rights Shares
The issue price of the Rights Shares will be determined and fixed by the Board at a later date after receipt of all relevant approvals and after taking into consideration, amongst others, the following:-
i. the prevailing market conditions and market prices of Techfast Shares;
ii. the theoretical ex-rights price of Techfast Shares ("TERP") based on the 5-day VWAP of Techfast Shares immediately preceding the price-fixing date; and
iii. Accordingly, the Board will fix the issue price of the Rights Shares at no less than RM0.12 each in order to achieve the said minimum amount to be raised from the Proposed Rights Issue with Warrants after taking into consideration the prevailing market conditions and market prices of Techfast Shares at the price-fixing stage, subject to a maximum allowable discount of not more than 50% to the TERP of Techfast Shares based on the 5-day VWAP of Techfast Shares immediately preceding the price-fixing date.
TECHFAST - acquisition of 175,000 ordinary shares in CCK Petroleum Sdn Bhd ("CCKSB") ("Sale Share(s)"), representing 35.0% equity interest in CCKSB from Kuah Choon Ching ("Vendor") for a purchase consideration of RM26,250,000 ("Purchase Consideration") to be satisfied via a combination of RM16,170,000 in cash ("Cash Consideration") and RM10,080,000 via the issuance of 23,441,860 new Techfast Shares at an issue price of RM0.43 per Techfast Share ("Consideration Share(s)") ("Proposed Acquisition");
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Notice of Person Ceasing (Section 139 of CA 2016) FAST ENERGY HOLDINGS BERHAD Particulars of Substantial Securities Holder Name MR KUAH CHOON CHING Date of cessation 18 Oct 2021 No of securities disposed 15,302,325 Circumstances by reason of which a person ceases to be a substantial shareholder Ceased to be substantial shareholder due to disposal of 15,302,325 ordinary shares via open market transaction. Nature of interest Direct Interest Date of notice 25 Oct 2021 Date notice received by Listed Issuer 25 Oct 2021
======================================= 23,441,860 new Techfast Shares at an issue price of RM0.43 per Techfast Share
----- the indicative issue price of RM0.12 per Rights Share represents a discount of 34.78% to the TERP of Techfast Shares of RM0.18, calculated based on the 5-day VWAP of Techfast Shares up to and including the 21 May 2021 being the latest practicable date to this announcement ("LPD") of RM0.313.
When the company will announce the ISSUE PRICE OF THE RI ????
Some possibilities:
Let say: 1. If the TERP is @ 20 sen, minimum issue price is @12 sen. 2. If the TERP is @ 23 sen, minimum issue price is @ 14 sen. 3. If the TERP is @ 26 sen. minimum issue price is @ 16 sen.
don't be fooled by chartist , telling you if fall under certain price cut loss. Chartist can use the chart to corner you. They can press down the price and cause panic selling, then they collect at cheap. This counter don't sell, once the right price is announced, it will move up, just hold for a longer term till hit your target price.
Why normal investor always lose money? When a share is down they panic.. easy scheme to wash people like whitlebower.. whose account got banned multiple times - why?
Cause he working with operator to depress the price?
I know you sharing a lots of Right Issues thing, some article were not bad. To fintec maybe sounds legit.
But your way to comment like politician eh, try to track your comment, Last time you said Fast with Kanger no good. Now you say no good again, because Mr Kuah dispose the share. ???!!!
whistlebower99 you are more like roti canai eh, flip here flip there. -.-
why do you say they fitnah? i see you with another account before? pls answer this few questions?
1. why you got banned for other accounts ? 2. why i always see you spreading negativity? 3. why you never talk about fundamental, earnings or growth prospects? 4. what is your motive, if not working with operator?
Guys, please don't forget FAST had venture into the oil bunkering + energy sector. Oil price is running high now and will benefit the oil bunkering business. With every sector + country opening up, there will be busy offshore / maritime activities which will require oil bunkering service.
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....
MZM2511
4,551 posts
Posted by MZM2511 > 2021-10-20 20:43 | Report Abuse
@jayden007. I think the company will set the issue price for the RI around 12 sen - 20 sen only. Just my guessing . TAYOR