Second wave of dropping. As the fresh cash pump into conglomerate. Shareholders who decline to subscribe may suffer from up to 50% shareholding and earnings dilution.
KENANGA INVESTMENT BANK BERHAD (“KIBB”) ADJUSTMENT TO THE TERMS AND CONDITIONS OF THE EUROPEAN STYLE NONCOLLATERALISED CASH-SETTLED CALL WARRANTS OVER THE ORDINARY SHARES OF MALAYSIAN RESOURCES CORPORATION BERHAD (''MRCB") (“MRCB-C15”) We refer to the announcement by MRCB dated 17 May 2017 in relation to the proposed renounceable rights issue of up to 2,856,719,498 new ordinary shares in MRCB (“MRCB Shares” or “Shares”) (“Rights Shares”) together with up to 571,343,900 free detachable warrant (“Rights Warrants”), on the basis of one (1) Rights Share for every one (1) existing MRCB Share held and one (1) free Rights Warrant for every five (5) Rights Shares subscribed for, on an entitlement date to be determined later (“Entitlement Date”) (“Proposed Rights Issue”) Subject to all necessary approvals being obtained for the Proposed Rights Issue and in accordance with Second Schedule of the Deed Poll dated 5 April 2017, the terms and conditions of MRCB-C15 will be adjusted accordingly as follow: 1. Adjustment for Exercise Price = X Adjustment Factor 2. Adjustment for Exercise Ratio = E Adjustment Factor Where Adjustment Factor = 1 + M 1 + (R/S) x M E : 1.5, being the existing Exercise Ratio of MRCB-C15 immediately prior to the Proposed Rights Issue. X : RM1.80, being the existing Exercise Price of MRCB-C15 immediately prior to the Proposed Rights Issue. S : Cum-rights share price determined by the closing price on the Securities Exchange on the last Market Day on which MRCB Shares are traded on a cum-rights basis. R : Subscription price per MRCB Share as specified in the Proposed Rights Issue plus an amount equal to any dividends or other benefits foregone to exercise the Rights. M : 1, being the number of new MRCB Shares (whether a whole or a fraction) per existing MRCB Share each holder thereof is entitled to subscribe. We shall make further announcement in relation to the above in due course.
Bandar Msia will be part of MRCB projects as umno govt doesnt want chinese to control economy & development 100%. Recent drop price is just a psychology correction & doesnt reflect the financial status of MRCB.
I believe the management of MRCB knows what is best for the company. Hope they are heading towards a RIGHT & PROFITABLE direction. We pray hard that they are on the right path.
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....
BigDaddyCool
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Posted by BigDaddyCool > 2017-05-19 00:13 | Report Abuse
Prove to me which counter in bursa price of share will move upwards upon RI?calvin oh calvin....alahai