@8833, The question of conversion is out, only a fool will fork out 35 sen to convert !!! The best is cut loss immediately !! Keep the money or buy the OR if trade @5 sen to 7 sen Then use OR to buy right @17.5 sen You will have a fighting chance to recover, but if keep existing warrant sure bankrupt, Because slowly will down to 10-12 sen level when !
i like to playing call warrant and cents share before. always put an eggs into one basket. so every time gain an loss will be very fast. always buying share with my feeling . sometimes 3days can earned 20k. but losses also big amount.
Datokim you are absolutely Correct. WA worth nothing now. only living on HOPE that the company performace spectacularly to its remaining life.
After I understood the implications from this forum, I existed yesterday mother and wa. Lost 4k in 1 day. I am new in this forum and am working overseas and have no info. Thanks you all for yr sharings
U bougth some goreng stock for speculation...when it didn't turn out then it become your Long Term Investment (and also nightmare).Long term investment is meant for some company with good fundalmental....however, Sumatec is clearly not in that category...anyway u can keep on believing in Ex Renong Boy and his Gangs...good luck
Like it or not, Sumatec-Wa is the biggest victim of the whole corporate exercise....Adj Exercise Price of Rm0.32 will make it (Wa) out of the money for a long long time...
The adjusted mother theoretical price is 24 cents (Based on Friday closing price) whereas the warrant's adjusted conversion price is 32 cents after the ex. Obviously, theoretically the warrant worth nothing after the ex date. Simple as that. Another thing to note, base on the fine prints below the sumatec warrant bursa announcement, to entitle for this right issue exercise, the last date for the warrant to be converted to the mother share is 8th Oct. Hence you will never have the chance to convert even if you were to buy the warrant tomorrow. As a matter of fact, I have never seen any right exercise where the warrant loss so much.
Open market, willing buyers willing sellers. One problem is what role does the regulatory agency play ? Why the warrant holders are given so short notice to act ? (practically no time considering the announcement on 3rd Oct after noon and the warrant has to be converted by 8th Oct at a loss, otherwise the warrant has become worthless) Obviously, the warrant holders are caught with the pant down. In this particular case, those who have the advanced info will sure make tons of money. And the question is, who have this info ?
Hi, new to trading. Don't understand how u convert warrants to mother share? When can convert? And what happens if warrants are trading higher than conversion price b4 expiry.
Under normal circumstances, mother price is always trading at price higher than warrant price. However for this sumatec case after ex, the theoretical mother price of 24 cents is 25% below the conversion price (32 cents) which render the warrant worthless. Very odd and very interesting. Shall see what new development in the days to come.
Pay the conversion price anytime before expiration. But in this case if u want to get the rights it is too late but you still can convert but for what. You awill be throwing your money into the drain or donating to the company.
In future if wa > conversion price, you still pay the same conversion price to get the mother share. But in this remote case the wa will likely be trading at a premium so better to sell than take the trouble to convert.
Sorry, when I read the announcement again, the $0.175 was the sumatec share price selling to open market, and the new wa must be same as old wa but with 108 to 1000 for the current wa holder. sorry for the confusion.
Hi everyone. I am new in here, but have been arround longtime. Been studying this counter lately. Past trackrecord nothing to shout, the new oil story sounds interesting. But dont forget their history, after last rights exercise, company immediately went into PN17. This time around the goreng has subtance, although a bnit yo-yo. Those holding mother sure have made handsome profits recently... but now the horse looks sleepy again! Curious to see what will happen next, post rights and their restructuring plan. Have invested some in the mother, just to ride the next wave. Good luck all!
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MQ Trader 3450 views | 3 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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....
Raizanny
151 posts
Posted by Raizanny > 2013-10-05 22:58 | Report Abuse
Best buy is below 0.10 cent....