NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : COMBINATION OF NEW ISSUE OF SECURITIES COMFORT GLOVES BERHAD ("CGB" OR THE "COMPANY") (I) PROPOSED BONUS ISSUE; AND (II) PROPOSED ESS (COLLECTIVELY, REFERRED TO AS THE "PROPOSALS")
If the free warrant exercise price set at 2.60. Very high chance the mother share will rally above 2.60. Congrats to all shareholders who still holding.
Comfort Gloves plans to issue free warrants -----------------------------------------------
TheStar Mon, Apr 12, 2021 07:00pm
KUALA LUMPUR: Comfort Gloves Bhd has proposed to issue free warrants to its shareholders.
The warrants, convertible into new shares, would enable the company to raise as much as RM452.7mil for capital expenditure.
"The exact quantum of proceeds that may be raised by the Company will depend on the actual number of Warrants exercised during the five years tenure of Warrants," the glove maker said in Bursa Malaysia filing.
Comfort Gloves on Monday said it has proposed to issue three new warrants for every 10 ordinary shares in the company held on the entitlement date to be determined later.
The company said the exerc ise price of the free warrants would be fixed at a 20% premium of the stock's 5-day volume weighted average price (VWAP).
"Assuming all 174,132,912 Warrants are exercised at the assumed exercise price of RM2.60 each, the gross proceeds raised would be up to approximately RM452.75mil," it said.
Bonus warrant is better than bonus mother share so that can kill off ib issue cw Thereafter ib issue cw nobody interested to trade anymore Hope Top 4 glove company replica Comfort issue bonus warrant One stone kill two birds
Correct @ Tantoro- Free warrants is also a good strategy to kill off the SHORTIES- short sellers. A good roasting of the SHORTIES will be a pretty good sight- and they bloody well deserve it.
@Goldberg beside RSS ,ib issuer structure call warrant also a main culprit to SS or brought down the Top 4 Gloves stock recently Free warrant is good for Top 4 gloves to replica comfort doing Hope Supermax the 1st to follow suit
Correct @ Tantoro- Free warrants is also a good strategy to kill off the SHORTIES- short sellers. A good roasting of the SHORTIES will be a pretty good sight- and they bloody well deserve it.
WHO says Covid pandemic is growing ‘exponentially’ at more than 4.4 million new cases a week ------------------------------------------------------------------------------ PUBLISHED MON, APR 12 2021- CNBC
KEY POINTS
The WHO said the trajectory of the pandemic is now “growing exponentially” at more than 4.4 million new Covid-19 cases.
Maria Van Kerkhove, the agency’s technical lead for Covid-19, said “we’re in a critical point of the pandemic.”
“This is not the situation we want to be in 16 months into a pandemic where we have proven control measures,” she said.
Just got dividend today...will add more... gloves are looking up. All those shorts will have to cover ... From the Top 4. Shorting stocks with low ass P/E with high earnings are asking for the horns..
Where is that guy with red undies? Has changed it to green undies? That is the problem with people who cannot understand the logic of low PE multiple. How to make money by shorting shares with low PE multiple? May be they learn from JPM?
It is normal for a company issuing convertible warrants to put the conversion price as high as possible ( but still looks reasonable to the investors). It is in their interest to raise as much cash as possible from the exercise. To justify a higher conversion price the mother share price needs to be high too. What do you think the company would do?They have to push up the price of the mother share to justify a higher conversion price. This is the simplest and most logical thing for the company to do before they fix the conversion rate.
On this reasoning, you can expect the mother share price to move up significantly soon. This clearly explains why it only fell 2 cents today when all the other glove counters suffered a much bigger fall.
Only the smarter players who can read the game are buying today.
I am not surprised if more buyers will chase after Comfort shares next few days.
Any room for the short sellers? Your guess is as good as mine.
Be patient folks. Sentiment towards gloves is improving albeit slowly. Once the sector is back in favour of the investment fraternity- Comfort will zoom to RM5- 6-00. However, currently the big boys are still camping in the Tech & recovery plays and are quietly accumulating gloves stocks The time will come when the euphoria in GLOVES return. I expect this to happen in May or early June.
daydream (ˈdeɪˌdriːm) n 1. a pleasant dreamlike fantasy indulged in while awake; idle reverie 2. a pleasant scheme or wish that is unlikely to be fulfilled; pipe dream vb (intr) to have daydreams; indulge in idle fantasy
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anzo888
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Posted by anzo888 > 2021-04-12 17:09 | Report Abuse
today persistent buying seems to indicate something could be on the cards... Bonus issue???