" As at the LPD: (i) the total number of issued shares in GCB is 480,158,452 GCB Shares; (ii) there were 2,353,700 Treasury Shares held by the Company; and (iii) the Company intends to undertake a private placement of up to 47,780,475 Placement Shares. "
Btwn 12.10pm to 12.20pm, about 2.5 million shares done very quickly from RM4.97 to RM4.99.
My 2 sen guess is that the Company "crossed" all the Treasury Shares to some parties. Let see if there is any announcement after 5pm later....
If my prediction is true, then say goodbye to RM5.00 ?
Hopeful might be right. But if someone buying treasury shares means there is willing buyer at that price. Depend on how we look at it. Good luck all !!!
If not mistaken private placement price was fixed at RM3.85, listed on Bursa on 4 Oct 2019, as per their announcement dated 4 Oct 2019. Not sure what are you trying to say...
And if the treasury shares crossed theory hold true, the party who took it up must have been briefed there will be further upside. Becos for taker of 2.5m shares is not ordinary person
you know what is profit-taking kah? some people prefer take profit first, if come down canbuy back again , provided it can come down ,if not , ..no choice
Date of transaction 21 Oct 2019 Currency Malaysian Ringgit (MYR) Type of changes Resale Total number of treasury shares changed (units) 2,256,100 Minimum price paid for each share sold ($$) 4.980 Maximum price paid for each share sold ($$) 4.990 Total consideration received ($$) 11235716.42 Total number of treasury shares held after the resale or transfer 97,600 Adjusted issued capital after cancellation (no. of shares) (units) 504,068,852
so what is the next? the treasury share taker is getting insider information right? to buy at 4.98 in not cheap either unless he knew the price will be much higher later
Hopeful....if your guess is right and i hope u r right, then the cancelation of treasury shares will boost earning. So coming quarter earnings will be boosted further by lesser shares in computation. Smart!
Possible but unlikely for those who got the placement shares to start selling now despite sitting on gains of RM1 per share. Most likely they will go through the corporate execise and collect the Bonus Issues of shares and warrants.
Not sure why they kept 97,600 Treasury Shares today. I expect they will sell the balance anytime soon.
Private placement takers could have signed sale and purchased agreement with the company and signed a monotorium not to dispose before ex bonus. It will only make sense this way
Hopeful....if your guess is right and i hope u r right, then the cancelation of treasury shares will boost earning. So coming quarter earnings will be boosted further by lesser shares in computation. Smart!
The Treasury Shares were not cancelled...they were sold for cash. So the number of shares outstanding remains the same.
Private placement takers could have signed sale and purchased agreement with the company and signed a monotorium not to dispose before ex bonus. It will only make sense this way
There r buyers but all wan but few cents lower. It only takes a big lot buying to change their mind and rush in. Then price will spike. Supply and demand:)
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Hopeful
49 posts
Posted by Hopeful > 2019-10-21 13:10 | Report Abuse
According to Circular to Shareholders on 18 Sep :
" As at the LPD:
(i) the total number of issued shares in GCB is 480,158,452 GCB Shares;
(ii) there were 2,353,700 Treasury Shares held by the Company; and
(iii) the Company intends to undertake a private placement of up to 47,780,475 Placement
Shares. "
Btwn 12.10pm to 12.20pm, about 2.5 million shares done very quickly from RM4.97 to RM4.99.
My 2 sen guess is that the Company "crossed" all the Treasury Shares to some parties.
Let see if there is any announcement after 5pm later....
If my prediction is true, then say goodbye to RM5.00 ?