Revenue P/L Quarter Q Date Financial Year Announced 615.00k -1.35m 1 2021-09-30 30 Jun, 2022 2021-11-30
MERIDIAN BERHAD ("MERIDIAN" OR THE "COMPANY") PROPOSED PRIVATE PLACEMENT OF UP TO 150,695,909 ORDINARY SHARES IN MERIDIAN ("MERIDIAN SHARES" OR "SHARES"), REPRESENTING 20% OF THE TOTAL NUMBER OF ISSUED SHARES OF MERIDIAN (EXCLUDING TREASURY SHARES) PURSUANT TO SECTIONS 75 AND 76 OF THE COMPANIES ACT 2016 ("PROPOSED PRIVATE PLACEMENT")
Another high NOSH low price penny stock going for shares consolidation !!!
MULTIPLE PROPOSALS MERIDIAN BERHAD ("MERIDIAN" OR "COMPANY") (I) PROPOSED COLLABORATION; (II) PROPOSED SHARE CONSOLIDATION; (III) PROPOSED RIGHTS ISSUE WITH WARRANTS; (IV) PROPOSED DIVERSIFICATION; AND (V) PROPOSED ESOS
1. proposed consolidation of every 4 ordinary shares in Meridian (“Meridian Shares” or “Shares”) into 1 consolidated Meridian Share (“Consolidated Share”) (“Proposed Share Consolidation”);
2. proposed renounceable rights issue of up to 1,190,746,395 new Meridian Shares (“Rights Shares”) together with up to 595,373,197 free detachable warrants (“Warrants D”) to the entitled shareholders of Meridian (“Entitled Shareholders”), on the basis of 10 Rights Shares together with 5 Warrants D for every 2 Consolidated Shares held by the entitled shareholders of Meridian on an entitlement date to be determined (“Proposed Rights Issue with Warrants”);
===================== Company keep losing money Multi year multi quarter losses Directors continue to receive salary and payment
Directors taking easy way out to increase company cash position using above proposals Shareholders will be squeezed for more cash to contribute to fund raising exercise
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....