huat888 , i fill up the "rights subscroption form", after that have to go for revenue stamp RM10, right? (am i fill in the right form?) i have no mother share, only bought OR.
Those who had bought L&G at 50 sen and above not too long ago just need to wait till its share price goes up to 33 sen to reach break even point, very highly possible in the near future.
Based on fundamental, the share price is so depressed and cheap now.. Market players were irrational dumping the shares without making proper study and research.. Those who buy now or last week will be making gain of 30% to 40% when the price reaches 33 sen.. Advise: Strong Buy...
The conversion price is one ICUL plus 7 sen => 1 ordinary share which closed at 26.5 sen today. One can consider buying the ICULs now and convert into ordinary share immediately
Maryland bought the land already... pending payment.. I was told the land is in very good location and L&G get a fair price n good deal for the land.. buy now loh when price is still cheap
Rights shares are also entitled to the 2 sen dividend only if they are credited into our CDS accounts before the ex dividend date, that is before 22 May.
The issue price of the ICUL was 13 sen. Previously one needs to surrender one ICUL plus 13 sen cash to exchange for one ordinary share when the conversion price was 26 sen.
Now the conversion price has been reduced to 20 sen arising from the recent rights issue of the mother share but the issued price of ICUL remains at 13 sen. Hence, going forward, one will only have to surrender 1 ICUL (issued price @ 13 sen) plus 7 sen only to exchange for one ordinary share. The ICUL is hence undervalued now @ 18.5 sen when the mother share is 27.5 sen. One can buy and convert immediately and sell quickly.
The upside for the ICUL will be good when the mother share starts to rally in the second half of 2017.
More than 6 days have elapsed since the last date for the acceptance of rights issue applications but we still have not been informed of the outcome of the applications. A bit slow.
Its rights issue had been well subscribed by 93% shareholders. Coupled with 27% of excess applications received, the rights issue had indeed been over-subscribed by 20%. What a surprise to many people. Hence, 93% of existing shareholders have shown support for the company.
The company will remain cash rich with more land bank ready for immediate development to generate more profits for the next 5 years!
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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....
Hoong Ling
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Posted by Hoong Ling > 2017-04-25 15:48 | Report Abuse
hng33, very clever move... good strategy