there are some general concerns that regulators might consider when evaluating a company’s rights issue:
Dilution of Share Value: A rights issue can lead to a dilution of share value if it’s not managed properly. If the number of shares increases significantly without a corresponding increase in the company’s value, the price per share could decrease. Financial Health: If a company is in poor financial health, a rights issue might be seen as a desperate attempt to raise funds, which could erode investor confidence. Use of Proceeds: The company must clearly state how the proceeds from the rights issue will be used. If the use of proceeds is unclear or not in the best interest of the company and its shareholders, the rights issue might not be approved. Fairness to Shareholders: The rights issue must be fair to all shareholders. If the rights issue is structured in a way that disadvantages certain shareholders, it might not be approved12. Regulatory Compliance: The company must comply with all relevant regulations and disclosure requirements. If the company fails to do so, the rights issue might not be approved
MB's son among six remanded over document forgery, false claims involving RM600,000 TheEdge Wed, Apr 24, 2024 03:33pm - 20 minutes
KANGAR (April 24): The son of a menteri besar is among six individuals remanded by the Malaysian Anti-Corruption Commission (MACC) here to assist in investigations regarding a case of submitting false documents and claims involving RM600,000 over the past two years.
Magistrate Ana Rozana Mohd Nor granted the remand order for all suspects from Wednesday to Thursday, following a request from the MACC to conduct investigations under Section 18 of the MACC Act 2009.
According to sources, two civil servants from the MB’s Office and the State Secretary's Office were also detained, along with contractors and owners of various companies.
“The suspects are believed to be owners of companies, contractors, and civil servants in the State Secretary's Administration Office and the Perlis MB’s Office.
“All six suspects, aged between 26 and 37, were detained in Perlis between 7am and 8am yesterday (Tuesday),” he said.
He said the case is being investigated relating to document forgery in making false claims when the project in question was not carried out. The project involved maintenance, repair, supply, and service works starting from 2022 until now, estimated to be worth RM600,000.
Meanwhile, in Putrajaya, a senior director of the Special Operations Division of the MACC, Datuk Azmi Kamaruzaman, confirmed the arrest.
RENOUNCEABLE RIGHTS ISSUE OF UP TO 217,410,867 NEW ORDINARY SHARES IN MLABS ("SHARES") ("RIGHTS SHARES") ON THE BASIS OF 3 RIGHTS SHARES FOR EVERY 1 EXISTING SHARE HELD AS AT 5.00 P.M. ON 2 JULY 2024 ("ENTITLEMENT DATE"), AT AN ISSUE PRICE OF RM0.16 PER RIGHTS SHARE, TOGETHER WITH UP TO 86,964,346 FREE DETACHABLE WARRANTS ("WARRANTS") ON THE BASIS OF 2 WARRANTS FOR EVERY 5 RIGHTS SHARES SUBSCRIBED FOR ("RIGHTS ISSUE")
Date for commencement of trading of rights 03 Jul 2024 Date for cessation of trading of rights 11 Jul 2024
Acceptance and Payment 18 Jul 2024 05:00 PM Excess share application and payment 18 Jul 2024 05:00 PM
Date for announcement of final subscription result and basis of allotment of excess Rights Securities 25 Jul 2024
================= Take note of important dates for the rights issue Directors raising fund again from shareholders via shares issuance to RI Look out for more fund raising via shares issuance to PP, ESOS
Announced EX Date Subject Ratio Offer 18 Jun 2024 01 Jul 2024 Rights Issue (warrant) 3.0000 : 1.000 0.1600 19 Mar 2024 02 Apr 2024 Share Consolidation 1.0000 : 20.0000
After recent shares consolidation, directors busy with fund raising again via rights issue squeezing more money from shareholders
If directors continue to raise massive funds via massive shares issuance to PP, ESOS or RI, NOSH will hit BILLION shares again in near future
================== Continue to monitor quarterly results directors plan for utilisation of company funds directors plan for more fund raising via shares issuance to PP, ESOS or asset acquisition
RENOUNCEABLE RIGHTS ISSUE OF UP TO 217,410,867 NEW ORDINARY SHARES IN MLABS SYSTEMS BERHAD ("SHARES") ("RIGHTS SHARES") ON THE BASIS OF 3 RIGHTS SHARES FOR EVERY 1 EXISTING SHARE HELD AS AT 5.00 P.M. ON 2 JULY 2024 ("ENTITLEMENT DATE"), AT AN ISSUE PRICE OF RM0.16 PER RIGHTS SHARE, TOGETHER WITH UP TO 86,964,346 FREE DETACHABLE WARRANTS ("WARRANTS") ON THE BASIS OF 2 WARRANTS FOR EVERY 5 RIGHTS SHARES SUBSCRIBED FOR ("RIGHTS ISSUE")
Announced EX Date Subject Ratio Offer 18 Jun 2024 01 Jul 2024 Rights Issue (warrant) 3.0000 : 1.000 0.1600 View 19 Mar 2024 02 Apr 2024 Share Consolidation 1.0000 : 20.0000 View 30 Oct 2020 12 Nov 2020 Rights Issue (warrant) 6.0000 : 1.000 0.0900 View 20 Oct 2020 03 Nov 2020 Share Consolidation 1.0000 : 10.0000 View
Multi year annual losses since 2017 !!!
================== Continue to monitor quarterly results directors plan for utilisation of company funds directors plan for more fund raising via shares issuance to PP, ESOS, RI, asset acquisition, etc
Printing of 200million of toilet papers has started. Anyone chasing will be very lucky to hold it till 5c Non-stop qtrly lossess continue, covid or no covid. The best thing is to delist this company before it suck more retailers hard earned money.
Announced EX Date Subject Ratio Offer 18 Jun 2024 01 Jul 2024 Rights Issue (warrant) 3.0000 : 1.000 0.1600 19 Mar 2024 02 Apr 2024 Share Consolidation 1.0000 : 20.0000 30 Oct 2020 12 Nov 2020 Rights Issue (warrant) 6.0000 : 1.000 0.0900 20 Oct 2020 03 Nov 2020 Share Consolidation 1.0000 : 10.0000 28 Jul 2017 09 Aug 2017 Rights Issue (warrant) 2 : 1 0.1500 View 19 Mar 2010 31 Mar 2010 Rights Issue (warrant) 2 : 4 View
===================== NOSH = 289,881,156 after share consolidation in Apr 2024
Expect directors to restart and continue massive fund raising via shares issuance to PP, ESOS, RI, asset acquisition, etc
Expect NOSH to increase and shareholder equity % and EPS to be diluted with massive share issuance in near future
================== Continue to monitor quarterly results directors plan for utilisation of company funds directors plan for more fund raising via shares issuance to PP, ESOS, RI , asset acquisition, etc
=========== Expect Cindy Kate to play the price to attract & trap newbies, punters, fomo oldbies etc
================ 17 out of 18 years recorded losses Directors still receiving high salaries from massive fund raising from shareholders via shares issuance to PP, ESOS, RI, etc
RENOUNCEABLE RIGHTS ISSUE OF UP TO 217,410,867 NEW ORDINARY SHARES IN MLABS SYSTEMS BERHAD ("SHARES") ("RIGHTS SHARES") ON THE BASIS OF 3 RIGHTS SHARES FOR EVERY 1 EXISTING SHARE HELD AS AT 5.00 P.M. ON 2 JULY 2024 ("ENTITLEMENT DATE"), AT AN ISSUE PRICE OF RM0.16 PER RIGHTS SHARE, TOGETHER WITH UP TO 86,964,346 FREE DETACHABLE WARRANTS ("WARRANTS") ON THE BASIS OF 2 WARRANTS FOR EVERY 5 RIGHTS SHARES SUBSCRIBED FOR ("RIGHTS ISSUE")
============== After recent share consolidation of 20 to 1 in April 2024, Directors going for easy fund raising via massive shares issuance to RI at high price of 0.16
EX DATE = 2 Jul 2024
Rights issue at 0.16 Amount targeted to raise = 217,410,867 x 0.26 = 34,785,738 that is RM34 million from shareholders !!!
Easy easy money for directors to utilise for what ?
================== Continue to monitor quarterly results directors plan for utilisation of company funds directors plan for more fund raising via shares issuance to PP, ESOS, RI, asset acquisition, etc
================= Cronies disposed above 0.30 and letting the price finding its own level Possible for price to drop below rights issue price of 0.16 ??? Possible for rights issue to be under subscribed ???
RENOUNCEABLE RIGHTS ISSUE OF UP TO 217,410,867 NEW ORDINARY SHARES IN MLABS ("SHARES") ("RIGHTS SHARES") ON THE BASIS OF 3 RIGHTS SHARES FOR EVERY 1 EXISTING SHARE HELD AS AT 5.00 P.M. ON 2 JULY 2024 ("ENTITLEMENT DATE"), AT AN ISSUE PRICE OF RM0.16 PER RIGHTS SHARE, TOGETHER WITH UP TO 86,964,346 FREE DETACHABLE WARRANTS ("WARRANTS") ON THE BASIS OF 2 WARRANTS FOR EVERY 5 RIGHTS SHARES SUBSCRIBED FOR ("RIGHTS ISSUE")
Acceptance and Payment 18 Jul 2024 05:00 PM Excess share application and payment 18 Jul 2024 05:00 PM
Date for announcement of final subscription result and basis of allotment of excess Rights Securities 25 Jul 2024
Hopeless counter,they just pump up the price above 0.20sen last week for investors to subscribe the RI, otherwise confirm nobody wants to subscribe,,, huhuhuhu
LOOKS LIKE 800,000 RETAILERS NOT SUBSCRIBING THE RIGHTS. ALMOST 90% SUBSCIBERS ARE THEIR OWN PEOPLE. LOOKS LIKE THEY WILL KEEP THE PRICE BELOW 16 SO THAT NOBODY SELLING. THEY WILL SELL AT 16 TO GET THE RIGHT ISSUES CASH OUT.
The details of valid acceptances and excess applications received as at the Closing Date are as follows:
.....................................No. of Rights Shares.....% of total Rights Shares available for subscription Total valid acceptances....................................92,627,498........42.61 Total valid excess applications.........................123,971,319........57.02 Total valid acceptances and excess applications..........216,598,817.......99.63 Total Rights Shares available for subscription............217,410,867...........100.00 Under-subscription................................................(812,050).................(0.37)
The successful applicants for the Rights Shares will be issued with Warrants on the basis of 2 Warrants for every 5 Rights Shares subscribed for.
The Rights Shares with Warrants are expected to be listed and quoted on the ACE Market of Bursa Securities on 1 August 2024.
Fund raised from massive rights issue = 216,598,817 x 0.16 = RM34,665,810 !!! Easy easy money for directors to utilise for what ?
============== Retail investors getting smarter not to contribute hard earned money to directors fund raising exercise But fund raising still considered a success (99.63%) as it is likely supported by cronies penny stocks
Wait for announcement on Changes in Shareholdings to know the cronies penny stocks out there like Fintec, Focus, Joe, Permaju, AT, LKL, Bcmall, mmag, and many more
=============== Upon listing operators likely to play price of free warrant for cronies to dispose to retailers, punters, newbies,etc
================== Continue to monitor quarterly results directors plan for utilisation of company funds directors plan for more fund raising via shares issuance to PP, ESOS, RI, asset acquisition, etc
The Rights Shares with Warrants are expected to be listed and quoted on the ACE Market of Bursa Securities on 1 August 2024.
NOSH = 289,069,106 (estimated based on number of rights share subscribed)
Warrant D = 86,639,526 (estimated based on 2 warrants for 5 rights subscribed) Expiry date = 3 years from date of listing on 1 Aug 2024 Exercise price of WD = 0.16 per warrant
=========== Be careful trading the warrants of loss making stocks, many of which will end up worthless approaching expiry date when share price is below exercise price
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....
Good123
25,229 posts
Posted by Good123 > 2024-04-16 16:02 | Report Abuse
hidden hand gang mau right issue, minta wang drp pemegang syer minoriti hehe