No assumptions. Just facts from the Regularisation Plan. Just read it, then dispute. Link is on bursa site. Look for section 5.1, page 11, top paragraph. Here is the extract about the price (AFTER consolidation 10:1): 'Entitled Shareholders on an entitlement date to be determined for the Proposed Rights Issue with Warrants (“Rights Issue Entitlement Date”) at an issue price of RM0.12 per Rights Share and 1 Rights Warrant for every 4 Rights Shares subscribed.'
So, price is RM0.12/10 = RM0.012 sen. 10 is the factor of consolidation.
See properly ya.People are not blind.This exactly copied from robert comments.
Now last done price @ 3.5 sen. Whats d idea all fine people here. Can buy @ 3.5 sen? Ill parked 3 sen. I pun pening lh psal right n warrant issue which is not stated in Mib. Is it meant for creditors.
KUALA LUMPUR (July 26): Practice Note 17 (PN17) company Alam Maritim Resources Bhd (KL:ALAM) has announced its regularisation plan, which includes a share capital reduction of RM440 million, 10-to-one share consolidation, an issuance of renounceable rights shares with warrants and a scheme of arrangement with its creditors.
In a filing with Bursa Malaysia on Friday, the integrated marine oil and gas services company said the credit arising from the share capital reduction will be used to set off the company's accumulated losses amounting to RM489.81 million as at March 31, 2024.
Alam Maritim is also proposing to consolidate every 10 shares into one share. The company, with an issued share capital of 1.53 billion shares as at June 30, 2024, will see this reduced to 153.18 million shares after the proposed reduction. in the group's audited accounts for the financial period from Jan 1, 2021 to June 30, 2022 in October 2022.
Shares in Alam Maritim closed up 0.5 sen or 14.29% to four sen on Friday, giving the group a market capitalisation of RM61.27 million. Its share price has risen 33.33% so far this year.
Read also: Alam Maritim classified as PN17 company after auditor expressed disclaimer of opinion in accounts Alam Maritim submits regularisation plan to exit PN17 status By Kang Siew Li / theedgemalaysia.com 26 Jul 2024, 08:26 pm
I also sold the rest (very small amount) for 4 sen at 9:00 am. I will try to stay away from the forum to let others speak up freely. Sorry for being a bit forceful at times. Myself, I have absolutely no animosity towards anyone here. I like it that people express different opinion. Makes me learn about other market participants. And you need a party to every transaction. Someone bought from me and this moring, and it is good. Good luck to other players involved here and ... see you around.
Robert Waters. Thank you Mr Robert. My sincere advise to you is whenever you write a comment @ any company, please quote the source. Eg The Edge etc. Please dont leave the forum. Many here need your view Sir. May god bless you.
A very good morning all. What do you think of AMRB after the consolidate of shares and issuance of renounceable rights shares with warrants. At what price we should buy. Tq.
Just a comment on today's action as the stock returns to reality. I put transactions in a spreadsheet when BIG SALE occured. I sorted them by size. Turns out there were only 700k orders of 100k or less. 35 million was in big orders of 500k. So it should tell you that there was not much investor buying. Big boys sorted it between themselves.
The US, UK and France are among several countries urging their citizens to leave Lebanon as heightened tensions in the region spark fears of a widening Middle East conflict
TEL AVIV — Israel is bracing for a potential multiday attack by Iran and its ally Hezbollah following the assassination of two senior militant leaders last week, an Israeli official told NBC News.
The official said Israel fears waves of missiles and drones could be fired over several days in response to the killing of Hamas political leader Ismail Haniyeh and Hezbollah commander Fuad Shukr.
“They’ll just try to wear us out,” the official said.
Well, about 1/3 of shares is owned by one director through SAR ventures. Not sure if that is the Syndicate controlling the price (spike in July), but I think they support the price to guarantee plan to issue right shares and warrants is viable.
Well, about 1/3 of shares is owned by one director through SAR ventures. Not sure if that is the Syndicate controlling the price (spike in July), but I think they support the price to guarantee plan to issue right shares and warrants is viable.
I watched list of 30 Alam insiders on a regular basis. SAR Syndicate has most shares, but they do not trade them. I talked to the broker and apparently they are arrogant and want big premium for selling them, turning down offers and even negotiations. The bottom line is they do not transact. I heard that the Property Company does most of transacting.
PRACTICE NOTE 17 / GUIDANCE NOTE 3 : REGULARISATION PLAN ALAM MARITIM RESOURCES BERHAD Announcement details
Type: Announcement Subject: PRACTICE NOTE 17 / GUIDANCE NOTE 3 REGULARISATION PLAN Description: ALAM MARITIM RESOURCES BERHAD ("AMRB" OR THE "COMPANY") PROPOSED REGULARISATION
Reference is made to the earlier announcement dated 26 July 2024 in relation to the Proposed Regularisation Plan (“Requisite Announcement”). Unless stated otherwise, abbreviations and definitions used throughout this announcement shall bear the same meaning as those defined in the Requisite Announcement.
On behalf of the Board of Directors of AMRB, Interpac wishes to announce that the application in relation to the Proposed Regularisation Plan had been submitted to Bursa Securities on 16 August 2024.
This announcement is dated 19 August 2024.
Date Announced: 19-8-2024
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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....
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Aiyoyoy coward. Please check your comment record la... Buay tahan u this liarrr hahahah