Yo Gao, I did. I'm just banking on the possibility that they'll push the shares up at least by a couple of cents. If I'm wrong I wouldn't lose too much if the share price remains at 8 sen as I believe the warrants could partially cover the 2 sen gap between the current price and rights price. If I'm right, a few cents is enough to make some money. Ofcourse, if the price drops like what is happening to CAP's shares, then the potential loss is big.
The rights shares & warrants will be listed on 22nd Jan. 2014, so lets wait n see whether it will be pushing up before or after listing of rights share & warrants!
Besides paid up capital, the other requirements for transferring to main board as follows:-
1) Uninterrupted profit of 3 - 5 years full financial years, with an aggregate profit after tax (PAT) of at least RM 20 million and a PAT for the most recent financial year of at least RM 6 million
> Nextnation's aggregate PAT (FY 2010 - 2013) is about RM 21 million - complied!
> Nextnation's most recent PAT (FY 2013) is about RM 7 million - complied!
2) Public shareholding spread requirement of at least 25% of the total number of Nextnat shares in the hands of a minimum 1000 public shareholders holding not less than 100 Nextnat shares each.
> Based on Nextnation's annual report 2013, about 4000 shareholders holding more than 50% nextnat shares. - Complied!
The purpose of listing on main board is expected to enhance Nextnation's prestige and reputation as well as accord Nextnation with greater recognition and acceptance amongst investors, in particular, institutional investors! Furthermore, it's expected to lead to greater recognition and confidence to Nextnation's customers, suppliers, business partners, bankers, employees and shareholders!
NEXTNAT-RENOUNCEABLE RIGHTS ISSUE OF 423,026,696 NEW NCB SHARES (“RIGHTS SHARES”) TOGETHER WITH 211,513,345 FREE DETACHABLE WARRANTS (“WARRANTS”) AT AN ISSUE PRICE OF RM0.10 PER RIGHTS SHARE ON THE BASIS OF TWO (2) RIGHTS SHARES TOGETHER WITH ONE (1) FREE WARRANT FOR EVERY FOUR (4) EXISTING NCB SHARES HELD (“RIGHTS ISSUE WITH WARRANTS”)
NEXTNATION COMMUNICATION BERHAD
LISTING'S CIRCULAR NO. L/Q : 69684 OF 2014
We are pleased to advise that:-
(i) NCB's additional 423,026,696 Rights Shares issued pursuant to the Rights Issue with Warrants will be granted listing and quotation with effect from 9.00 a.m., Wednesday, 22 January 2014; and
(iii) NCB's 211,513,345 Warrants C issued pursuant to the Rights Issue with Warrants will be admitted to the Official List of Bursa Securities and the listing and quotation of these Warrants on the ACE Market, will be granted with effect from 9.00 a.m., Wednesday, 22 January 2014.
The Stock Short Name, ISIN Code and Stock Number of the Warrants are "NEXTNAT-WC", “MYQ0096WCY15” and "0096WC" respectively.
Not necessarily so, if investors believe that the expected strengthening of the capital base arising from the rights issue & potential conversion of warrants, and the possible positive outcome of the numerous corporate exercises which will turn Nexnat into a different corporate entity, will augur well for the company.
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....
GaoLuckStockGod
574 posts
Posted by GaoLuckStockGod > 2014-01-07 10:36 | Report Abuse
Get ready, the share price will be spiking up suddenly from now on...