Mercury Securities view: 'offer not fair but reasonable'.... What sort of recommendation is this?? Actually it is not fair but to say 'reasonable' is not offend major shareholders who pay their fee. Read it as not fair and unreasonable, in reality, as i personally opine it.
Not fair becos the value is about RM0.64 but reasonable becos the average of the share price during that period is around RM0.58. However, everybody know the share price can be controlled by the sharks.
PROPOSED SELECTIVE CAPITAL REDUCTION AND REPAYMENT EXERCISE OF LCTH PURSUANT TO SECTION 116 OF THE COMPANIES ACT 2016 (“PROPOSED SCR”)
The terms used herein shall have the same meaning as those defined in the announcement made on 10 January 2018 unless otherwise stated.
We refer to the announcements dated 7 December 2017, 14 December 2017, 4 January 2018, 5 January 2018, 8 January 2018, 10 January 2018, 12 January 2018 and 13 February 2018 and the circular to shareholders dated 14 February 2018 in relation to the Proposed SCR.
On behalf of the Board, RHB Investment Bank wishes to announce that the Entitled Shareholders of the Company have approved the Special Resolution set out in the Notice of EGM dated 14 February 2018 in respect of the Proposed SCR (“Special Resolution”), at the EGM of the Company held today, 8 March 2018.
The Special Resolution is to be approved by a majority in number of shareholders and at least 75% in value to the votes attached to disinterested shares that are cast either in person or by proxy at the EGM of LCTH, provided that the value of votes cast against the resolution for the Proposed SCR at the EGM is not more than 10% of the votes attaching to all disinterested shares of the total voting shares of LCTH.
Based on the poll results, 74.07% in number and 98.57% in value to the votes attached to disinterested shares that were cast either in person or by proxy at the EGM voted in favour of the Special Resolution. Further, 0.18% of the votes attached to all disinterested shares of the total voting shares of LCTH voted against the Special Resolution. Therefore, the Special Resolution was carried.
The application to the High Court to seek the confirmation for the reduction of share capital under Section 116 of the Act will be lodged in due course.
so the offer is passed ? with lcth cash in hand , it might equivalent to 30cts in share...it mean without the offer, the price only value at rm0.28 ?...cheap or not ?
The refund for the shares under the SCR has already been sent to my account. However, the shares are still shown in my on line CDS account as of today. Wonder why? Same thing happen to any one here?
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MQ Trader 2909 views | 2 d ago
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New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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miker
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Posted by miker > 2018-02-15 11:02 | Report Abuse
...."WE RECOMMEND THAT THE ENTITLED SHAREHOLDERS VOTE IN FAVOUR OF THE SPECIAL RESOLUTION"...