As announced previously, the Company had on 6 March 2017, entered into a non-legally binding Memorandum of Understanding (“MOU”), except as specifically set out in the MOU, with Lim Kuan Joo, Ismail Bin M. Shuhud (“Vendors”) and a new company to be incorporated by the Vendors and to assume the listing status of the Company at a later date (“NewCo”) in relation to a proposed reverse take-over of the Company by the Vendors, which entails the Proposed Regularisation Plan and the Proposed Scheme of Arrangement with Creditors.
KUALA LUMPUR: Wintoni Group Bhd has signed a memorandum of understanding (MoU) for a reverse takeover exercise that will see it entering into the business of providing engineering and technical services related to solar and storage tank farms.
In a filing with Bursa Malaysia, the Guidance Note 3 company said a company to be incorporated (NewCo) would assume the listing status of Wintoni at a later date under the exercise that entailed the proposed regularisation plan and the proposed scheme of arrangement with creditors.
Under the regularisation plan, NewCo will acquire the entire paid-up capital of Techway Engineering Sdn Bhd and Cadflex Technologies Sdn Bhd for a sum to be determined later, to be satisfied wholly by the issuance of ordinary shares of NewCo to the vendors, Lim Kuan Joo and Ismail M. Shuhud.
Techway is in the business of supplies and contractors of engineering and technical services and products relating to renewable energy such as the solar farm industry.
Cadflex, which is wholly owned by Techway, conducts research and development of engineering software and supplies engineering and technical services/products for the storage tank farm (oil depot) industry.
Best time to speculate on Wintoni is when at its lowest. Buy low now sell high later once the news of the takeover materialize. People will rush to buy. Make sure you have holding power. Don't play contra. Allow some time to reach 10 sen or 20 sen. I think syndicate will also goreng this share based on the reverse takeover speculation. The question is when? Will wait and monitor closely because Wintoni is a highly speculative stock with lots of "loyal" punters. I play I know.
Just buy a some warrants at 2 sen and keep. I am sure within this few months when the news is coming...the stock will jump up sky high. Yes Wintoni is losing money but this company is still worth a few million ringgit. Speculation will drive up its value once the newco is coming to take over. Warrants easily can go high to 10 sen if mother stock reach 20 sen.
Under the regularisation plan, NewCo will acquire the entire paid-up capital of Techway Engineering Sdn Bhd and Cadflex Technologies Sdn Bhd for a sum to be determined later, to be satisfied wholly by the issuance of ordinary shares of NewCo to the vendors, Lim Kuan Joo and Ismail M. Shuhud.
Techway is in the business of supplies and contractors of engineering and technical services and products relating to renewable energy such as the solar farm industry.
Cadflex, which is wholly owned by Techway, conducts research and development of engineering software and supplies engineering and technical services/products for the storage tank farm (oil depot) industry.
Normally when a stock is at its lowest. How low can it go further? Now we have some white knight coming to save the company. Can we take a small gamble ? Remember the oil price. When it drop below 30 nobody dare to buy. Now above 50 again. So now Wintoni 5 sen nobody dare to buy ? Wait till 20 sen everybody rushing to buy.
Important Dates to remember ================= Restructuring plan announcement by June 16 Regularization plan to Bursa by Aug 26 Sign Agreements by Sept 30.
So punters still have some time to push it up. Always think of the bright side. REmembe those who bought ETI TECH at 4 sen when it nearly got de-listed suddenly come back to life with a new name Trive and now 16 sen.
Assume that the company did not goes down the drain with a GN3 or delisting status, and some clear business plan is carried with the support of majority shareholders by rushing through an EGM, perhaps some idea the shareholders could average down their cost if these typical exercises happens.
Right Issue at 5 cents with warrants. The bonus of warrants may potentially discount holding cost by 30% post right issue. Rescue existing business to keep PLC alive.
Acquire or injection of new business to keep company alive, with friendly terms to reward both PLC stakeholders and white knight. Hopefully existing small investors are not crushed.
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mmf2332
451 posts
Posted by mmf2332 > 2017-04-11 15:05 | Report Abuse
no news till Aug?