Have just read up Scientex under "Bursadummy" And realised that: Scientex has completed the acquisition of GW Plastic in Jan 2013. Is it fully or partially being acquired by Scientex?
Under Business New dated 11 Nov 13 The article: Scientex buys over Seacara Polyfilms....... It did mentioned here that Scientex purchased GW Plastic in January 2013.
Scientex did not buy the company. It bought the plastic business. That is why it is a PN17 company now. And that is why it has so much money to return to shareholders. After paying the last tranche of the money from the sale of the plastic industry, it will be de-listed. And when bursa gives notice of de-listing, it will drop to 0.5 sen.
If u still hold shares in GWP after de-listing, they are effectively worth nothing as the company has paid out all its money. The balance sheet is zero.
drop to 0.50? U totally misleading ppl , u know how to read balance sheet ? Now NTA 0.64 ( 99% is cash )... Today price stand above 0.70, and later on mostly will above 0.80 , buy it now before too late....
Hello fighter88, please read what i wrote properly. U asked me whether i know how to read balance sheets. Well, now i ask u whether u know how to read whole sentences and paragraphs. I said it will drop to 0.5 sen if no new business is found and the final payment of 61 sen is made, after which bursa will immediately de-list it. It will drop to 0.5 sen if it is going to be de-listed. The company is trying to find a new business. If it cannot find one, it will pay the remaining cash to shareholders and then get de-listed. And it is by no means certain that the company can get the new business.
so how come price still can can 0.50 after distibute 0.61 , sure 0.00 or 0.0x !! ( if no new business ) sentences and paragraphs to me like tofu very easily understand ....
If no business pump in and delisted from bursa and thereafter just distibute at least 0.61 per share ( in short time 1-2 mth ) , share price also chance very less ( 0.0x % ) can not drop to 0.50 ... so use your big brain think abt it ...
0.61 -0.64 within short time get it how come drop to 0.50 !!
If GW cant get new biz ,it will be delisted soon and u will get back around RM0.61+RM0.03= RM0.64...you could lose around RM0.08-RM0.09 if you buy now....the deadline is by 10 Jan 2014
Not yet in deadwood... They didn't say how to handle remain asstes RM0.03-0.05, still reserve space for New business pump in until 10/1/2014 or further extension ...
That 0.61 still need 1-1.5 month for completion vs 10/1/2014 ... Get it ....
Type Announcement Subject SUSPENSION OF SECURITIES Description GW PLASTICS HOLDINGS BERHAD (“GW PLASTICS” OR THE “COMPANY”)
REQUEST FOR SUSPENSION OF TRADING
The Board of Directors of GW Plastics wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) has approved its request for suspension of trading in the securities of the Company until 5.00 pm on 9 January 2014.
The request for suspension was made under Paragraph 3.1(a)(ii) of Practice Note 2 of the Main Market Listing Requirements of Bursa Securities, in view of the impending release of an announcement relating to a material corporate exercise.
Can triple dice with same numbering, i.e. big and small all sapu? Guess only. If triple 6 >>> JACKPOT...hahaha>
"The Proposed Capital Reduction will be effective once the order of the High Court is lodged with the Companies Commission of Malaysia.
Accordingly, the entitlement date for the Capital Repayment of RM0.61 for every one (1) GW Plastics Share held shall be announced in due course." abstracted from Bursa.
If based on yesterday closing price, the revised share price ie 76 sen - 61 sen shall be 15 sen per share based on PAR VALUE at 50 sen.
Super star in year 2014 or CNY ang pow?
will know once their Material Corporate Exercise to announce after 9/1/2014, 5pm.
The above solely based on my own assumption n invest at your own risk.
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ak2899
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Posted by ak2899 > 2013-01-24 00:13 | Report Abuse
Now as of today 24/01/2013 touching RM 0.62 /=