i. proposed consolidation of every 6 existing ordinary shares in Fast Energy held by the shareholders of Fast Energy, on an entitlement date to be determined and announced later ("Entitlement Date"), into 1 ordinary share in Fast Energy
ii. a private placement of up to 35% of the total number of issued shares of Fast Energy to third party investor(s) to be identified later ("Proposed Private Placement").
iii. acquisition of 175,000 ordinary shares in CCK Petroleum Sdn Bhd ("CCKSB") ("Sale Share(s)" or "CCKSB Share(s)"), representing 35.0% equity interest in CCKSB from Mohd Faizul bin Nasir ("Vendor") for a purchase consideration of RM28,000,000 ("Purchase Consideration") to be satisfied via a combination of RM23,972,660 in cash ("Cash Consideration") and RM4,027,340 via the issuance of 11,800,000 new ordinary shares in Fast Energy ("Fast Energy Share(s)" or "Share(s)") after the completion of the Proposed Share Consolidation at an issue price of RM0.3413 per Fast Energy Share
============== Share consolidation (6:1) will result in the current price 0.04 being consolidated into 0.24 which might drift lower based on price movement of other penny stocks
Share consolidation will be followed by issuance of more shares for PP and asset acquisition
============== Continue to monitor quarterly results directors plan for utilisation of company funds directors plan for more fund raising via shares issuance
i. proposed consolidation of every 6 existing ordinary shares in Fast Energy held by the shareholders of Fast Energy, on an entitlement date to be determined and announced later ("Entitlement Date"), into 1 ordinary share in Fast Energy
ii. a private placement of up to 35% of the total number of issued shares of Fast Energy to third party investor(s) to be identified later ("Proposed Private Placement").
iii. acquisition of 175,000 ordinary shares in CCK Petroleum Sdn Bhd ("CCKSB") ("Sale Share(s)" or "CCKSB Share(s)"), representing 35.0% equity interest in CCKSB from Mohd Faizul bin Nasir ("Vendor") for a purchase consideration of RM28,000,000 ("Purchase Consideration") to be satisfied via a combination of RM23,972,660 in cash ("Cash Consideration") and RM4,027,340 via the issuance of 11,800,000 new ordinary shares in Fast Energy ("Fast Energy Share(s)" or "Share(s)") after the completion of the Proposed Share Consolidation at an issue price of RM0.3413 per Fast Energy Share
============== Share consolidation (6:1) will result in the current price 0.03 being consolidated into 0.18 which might drift lower based on price movement of other penny stocks with similar corporate exercises. Kanger is one of them.
Share consolidation might be followed by directors proposing more shares issuance to PP and asset acquisition in near future
============== Continue to monitor quarterly results directors plan for utilisation of company funds directors plan for more fund raising via shares issuance
overall market mmg not so good lahh everyone knows bout that, as long as company businesses and income are still intact, there's nothing much we investors can do
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....
khpwwl
3,403 posts
Posted by khpwwl > 2022-06-20 16:39 | Report Abuse
i bought 0.06 consider low already now still paper lost 41%, these kind of company better close down loh...just throw my 2500 to the sea..