Posted by CS > 2020-01-22 00:11 | Report Abuse

well explained... seems likely to happen that way...

Posted by DK66 > 2020-01-22 10:44 | Report Abuse

888next, Hi, thanks for in-depth analysis of the warrant scenario. My question is;

Is it possible for Thong and the other 165m warrants holders to exercise partially their warrants in such a way to completely avoid MGO ?

Thank you.

Posted by DK66 > 2020-01-22 13:26 | Report Abuse

888next, Thanks for the explanation.

If the 165 warrants are exercised by PAC, and DS exercises a portion of its warrants so as to remain below 33% (thus avoided MGO), isn't this MGO avoidance detrimental to the minority due to the huge dilution and yet no MGO ?

Thank you

Posted by DK66 > 2020-01-22 13:46 | Report Abuse

888next, any possibility of the 165m warrants exercised by some friendly parties and DS exercised partially to main its control without extending MGO ?

Posted by DK66 > 2020-01-22 13:51 | Report Abuse

888next, I believe in such scenario, DS will at least exercise sufficient warrant to maintain its control under 33%.

Posted by DK66 > 2020-01-22 14:00 | Report Abuse

888next, If the 165m warrants are exercised, DS's stake is reduced to 26.3%. Can't DS exercise some warrants to increase its control to 32.96% ?

Posted by pampers > 2020-01-22 14:19 | Report Abuse

I got some warrants , and I am ready to let it burn

Posted by DK66 > 2020-01-22 14:28 | Report Abuse

As long as the price remains below 1.00, there is no reason for small warrantholders to exercise their warrants. However, for those who wish to buy big on Insas, the warrant is a lifetime opportunity.

The worst that can happen to the minority is that the 165m warrants are exercised by friendly parties, and DS exercises some warrants to remain below 33% and avoids MGO.

That is just my opinion.

Thank you.

Posted by CS > 2020-01-22 15:20 | Report Abuse

Hmm.. INSAS seems like setup for a spike. no much selling force observed..

INSAS is small bet for big return lo, but seems like not really a good bet now according to what 888next clarified... it is only good when you managed to buy at 5 and sold at least half at 10 before this... However, mother seems to be a very safe bet for 10%+ return in 1-2months as MGO is quite avoidable on RM1.
The only doubt I have is that, where are another 150mil+ warrants goes? Who is holding it and never put it on the queue? Anyway, if DS Thong or any friendly parties bought it, then RM1 is for sure. If someone else buy it, INSAS could even raise more...

Posted by DK66 > 2020-01-22 16:54 | Report Abuse

888next, DS Thong surely knows his "friendly" parties.

Posted by DK66 > 2020-01-22 17:10 | Report Abuse

888next, Thanks for the discussion.

Posted by DK66 > 2020-01-22 17:32 | Report Abuse

DS planned this 5 years ago. Unless he succeeded in increasing his stake substantially with or without the MGO, he will not "uinlock" Insas. The only worry to minority is too much dilution from warrant exercise.

Posted by Sslee > 2020-01-23 08:53 | Report Abuse

Dear all,
https://klse.i3investor.com/blogs/Sslee_blog/2020-01-22-story-h1482896892-Let_s_celebrate_the_coming_CNY_2020_together_with_well_wishing_of_Unity.jsp
May the Year of the Metal Rat bring you Good Luck, Good Health, Good Fortune, Plentiful of Laughter, Happiness, Success and at Peace with Oneself and Others. Happy Chinese New Year 2020

Thank you

Posted by stockraider > 2020-01-23 17:25 |

Post removed.Why?

Posted by stockraider > 2020-01-24 10:55 | Report Abuse

Go go go INARI....!!

Lets uplift insas share price loh....!!

Posted by stockraider > 2020-01-24 11:44 | Report Abuse

Insas mari mari mari....!!

Monies mari mari sini.....!!

Insas go go....$$$$$$$$$$$ coming loh....!!

Posted by stockraider > 2020-01-24 15:53 | Report Abuse

Precisely loh...if Thong did not convert his warrant & do a GO at rm 1.00, it really sayang for him and he has missed big opportunity to increase his Insas exposure for a relative big profit mah...!!

Posted by 888next > Jan 24, 2020 12:52 PM | Report Abuse

1) 0n 22 Jan 2020, Inari announced 15.7 mil Inari shares were issued to Insas Plaza Sdn Bhd from warrants conversion at 53.33 sen. Insas now holds 615 mil INARI shares.

Paper gain on these 15.7 mil Inari shares by Insas: =(RM1.90 less 0.5333) x 15.7 mil = RM21.5 mil

2) Paper gain on 600 mil Inari shares today: Inari shares rose 14 sen on news of the Apple/Broadcom news on RF business = 600 x 0.14 = RM84 mil

So total paper gain made = RM105.5 mil


888next
34 posts
Posted by 888next > Jan 24, 2020 12:53 PM | Report Abuse

Read todays news on the Apple/Broadcom announcement on RF major business which is super positive for Inari:

https://venturebeat.com/2020/01/23/apple-and-broadcom-sign-15-billion-...

Posted by SpicyMcDeluxe > 2020-01-25 03:07 | Report Abuse

Lololo

Posted by Sslee > 2020-01-27 21:52 | Report Abuse

Haha,
Dato' Sri Thong did not hold any directorship in INSAS so he need not report any dealing on INSAS-WB. He only need to report if he deal with INSAS as major shareholder.

Posted by Sslee > 2020-01-27 21:59 | Report Abuse

The last day for converting one INSAS-WB plus One INSAS RPS to one INSAS shares is 5.00 PM 18th FEB 2020.
The last day for converting one INSAS-WB plus exercise monies RM one ringgit is 5.00 PM 25th FEB 2020

Posted by tigerball > 2020-01-27 22:16 | Report Abuse

besides inari what do insas have?

Posted by Sslee > 2020-01-28 07:26 | Report Abuse

Dear 888next,
You are right, DS Thong had to do MGO now or risk losing the control of INSAS in the future. Imagine if INARI will break RM2.00 and on the way to RM3.00 in near future. Many corporate-raiders will be tempted to make a hostile take-over of INSAS. Why not when you are sure to make 300% return

Thank you
P/S: For once I will make proposal to TS Halim Saad to make such move after he and Dato’ Wong fail to take over PLUS.

Posted by leno > 2020-01-29 09:39 |

Post removed.Why?

Posted by leno > 2020-01-31 20:37 |

Post removed.Why?

Posted by paperone > 2020-01-31 20:41 | Report Abuse

What happen if the price is more then rm 1 after 7 Feb?

Posted by i3lurker > 2020-01-31 20:55 | Report Abuse

wah!

leno

guess you keep suppressing yourselves to your patients..
so after all these years as a long suffering doctor
asking people to say "ah"

finally it is all coming out of your system

its all bullshit, of course lah

hypochondriacs with imaginary diseases

and so called anal liskers with imaginary investors emerging only under the skirt but not above the pu ssy line of 90 sen

Posted by kayedge > 2020-02-01 13:17 | Report Abuse

Why the buyout of the 150M warrants and not the remaining 17M+? This suggests the buyer was DSThong himself with view reducing substantial dilution of his stake. An unrelated party would have bought out the remaining warrants?

Posted by SpicyMcDeluxe > 2020-02-01 14:28 | Report Abuse

Goodbye wb

Posted by Sslee > 2020-02-01 18:46 | Report Abuse

Hahahaha,
Now I know why DSThong and brother did not put forward their name for closed period dealing. They want to hide what are their holding of WB as on 23th Jan 2020.

Posted by DK66 > 2020-02-05 15:24 | Report Abuse

The truth will unfold soon.

Posted by DK66 > 2020-02-05 15:26 | Report Abuse

What would be the best case and the worst case ?

Posted by DK66 > 2020-02-05 16:23 | Report Abuse

888next, thanks for explanation

Posted by SpicyMcDeluxe > 2020-02-05 18:02 | Report Abuse

Wb

Posted by stockraider > 2020-02-05 21:56 | Report Abuse

Correctloh hold tight insas no matter what mah...!!

Posted by 888next > Feb 5, 2020 9:50 PM | Report Abuse

Inari s market cap is RM5.8 billion.

Insas holds 19% of Inari or RM1.102 billion and divided by 693 mil Insas shares is RM1.59 per share.

Each Insas share is backed by RM1.59 from its holding of Inari shares. The other assets we have not yet included.

Compare that to current price of 85 sen.

Please think thrice before you accept the MGO offer of RM1.

Posted by dragonslayer > 2020-02-06 17:28 | Report Abuse

Aiyo...tomolo last day liao...toilet paper will be flush into toilet soon...kesian...half sen pun takda balance....aiyoyo...kikiki

Posted by stockraider > 2020-02-06 23:44 | Report Abuse

THE DECISION IS WHETHER THONG WILL EXERCISE HIS WARRANT AT RM 1 OR NOT LOH....!!

1.IF U BELIEVE HE WILL EXCERCISE WARRANT AT RM 1.00...MUST BUY NOW BCOS GO AT RM 1.00 IMMEDIATELY LOH...!!

2. IF U BELIEVE HE WILL NOT EXCERCISE WARRANT AT RM 1.00...STILL MUST BUY, BCOS EVENTUALLY LESS DILUTION FOR, INSAS WILL STILL MOVE ABOVE RM 1.00 MAH...!!

WHICHEVER U ASSESS, U NEED TO BUY INSAS AS IT IS BELOW RM 1.00 LOH....!!


Posted by 888next > Feb 6, 2020 11:37 PM | Report Abuse

The last date for using the RPS in lieu of subscription money is 5pm 18 Feb 2020 and since DS Thong s group has 66 mil RPS, it may be surrendered on 18 Feb with the forms to the Co Share Registrar for the purpose of warrant conversion. The Co has stated that within 8 market days of receipt of the application will issue and allot the new shares to applicant.

The question is when is the Timing of the announcement of this conversion which is deemed Material Information as it will trigger a MGO?

At the point of submission of application or at the point of issuance of shares?

Posted by dragonslayer > 2020-02-07 08:30 | Report Abuse

Aiyo...think boss too old liao..unlikely to go for mgo..he will retire at peace..anyway he is no lobger young...why bother mgo....make his life miserable only....case most likely...remain as status quo....lol...aiyoyo...kikiki

Posted by dragonslayer > 2020-02-07 08:31 | Report Abuse

Aiyo..can move on liao...no show...no show..on mgo...lol...aiyoyo...kikiki

Posted by stockraider > 2020-02-07 18:01 | Report Abuse

Yes beside that there is a very high chance the exemption of MGO maybe rejected by SC loh...!!


Posted by 888next > Feb 7, 2020 5:57 PM | Report Abuse

Another phase: come Monday onwards the WB warrant trading is over.

Question is will DS Thong convert the warrants into shares and trigger a MGO? There are some who dont think so and status quo is maintained.

Let s assume for a moment there is no MGO after 25 Feb 2020.

And we assume that DS Thong applies to SC for MGO waiver in the event Insas resumes its share buyback program and he succeeds.

So the company resumes share buyback BUT the Takeover Code is very clear, (when any controlling shareholder and PAC having bet 33 and 50% stake) there is a 2% creeping rule that says in any 6 months period, the controlling shareholder's increase must not be more than 2%.

At any time it is infringed, a MGO is mandatory. So DS Thong will need 4.5 years to cross over the 50% mark before this creeping rule is lifted.

The 2% creeping rule is very restrictive and at his age I am sure speed is of essence.

So I dont think DS will go down this route of no MGO. A most unlikely option.

Posted by Sslee > 2020-02-07 18:01 | Report Abuse

Hahahaha,
No worry stockraider will raid Insas and kick out DS Thong.

Posted by i3lurker > 2020-02-07 18:02 | Report Abuse

is it being shorted to 50 sen?

Posted by stockraider > 2020-02-07 18:06 | Report Abuse

I think if no MGO, thong will do another corporate exercise either RULS with warrants or Preference share with warrant loh...!!

This is to allow him to lock in fixed return, while setting him with opportunity to increase his exposure to insas, just in case there will be another hostile predator coming to challenge his 33% controlling block mah...!!

Posted by stockraider > Feb 7, 2020 6:01 PM | Report Abuse X

Yes beside that there is a very high chance the exemption of MGO maybe rejected by SC loh...!!


Posted by 888next > Feb 7, 2020 5:57 PM | Report Abuse

Another phase: come Monday onwards the WB warrant trading is over.

Question is will DS Thong convert the warrants into shares and trigger a MGO? There are some who dont think so and status quo is maintained.

Let s assume for a moment there is no MGO after 25 Feb 2020.

And we assume that DS Thong applies to SC for MGO waiver in the event Insas resumes its share buyback program and he succeeds.

So the company resumes share buyback BUT the Takeover Code is very clear, (when any controlling shareholder and PAC having bet 33 and 50% stake) there is a 2% creeping rule that says in any 6 months period, the controlling shareholder's increase must not be more than 2%.

At any time it is infringed, a MGO is mandatory. So DS Thong will need 4.5 years to cross over the 50% mark before this creeping rule is lifted.

The 2% creeping rule is very restrictive and at his age I am sure speed is of essence.

So I dont think DS will go down this route of no MGO. A most unlikely option.

Posted by Sslee > 2020-02-07 18:06 | Report Abuse

Hahahaha
i3lurker not yet another 35 cents to go. So One day one cents another 35 trading days to go.

Posted by i3lurker > 2020-02-07 18:06 | Report Abuse

I need to check again with my time machine

Posted by Sslee > 2020-02-07 18:13 | Report Abuse

Hahahaha,
I3lurker mind to check Jaks also because deMusangkong say very soon 2 then 3 then 4 then 5 Insas can only buy one jaks.

Posted by leno > 2020-02-08 11:27 | Report Abuse

how can a stock worth more than the MGO when the MGO price is yet to be announce or worst is when there is actually no MGO at all ? Sudah gila kah ?

Posted by stockraider > 2020-02-08 11:29 | Report Abuse

MGO IF HAPPEN IT IS RM 1 LOH...!!

Posted by i3lurker > 2020-02-08 11:32 | Report Abuse

no one will do anything

BURSA got so many companies, 500 companies maybe small enough to takeover with small investment.

why waste money on your own company

you think directors stupid?

its better to take opportunity to control another listed company

Posted by sctan > 2020-02-08 12:04 | Report Abuse

All are stupid, except the investors published comments, they should be appointed as these companies directors

Posted by stockraider > 2020-02-08 12:08 | Report Abuse

WHY A SO QUIET COMPANY LIKE INSAS HERE, THE PUBLISHER WHO PUBLISH IN INSAS HERE, GET INSULTED LIKE THAT LEH ??

SOMETHING IS BREWING, AND SOMEBODY TRYING VERY HARD TO HIDE THE TRUTH LOH...!!



Posted by sctan > Feb 8, 2020 12:04 PM | Report Abuse

All are stupid, except the investors published comments, they should be appointed as these companies directors