BSL CORPORATION BERHAD ("BSLCORP" OR THE "COMPANY") PROPOSED RIGHTS ISSUE WITH WARRANTS
Renouncable rights issue of up to 2,354,494,986 new ordinary shares in the Company ("BSLCORP Shares” or “Shares”) (“Rights Shares”) together with up to 981,039,577 free detachable warrants in the Company (“Warrants B”) on the basis of 12 Rights Shares together with 5 free Warrants B for every 2 existing Shares held by the entitled shareholders of the Company (“Entitled Shareholders”) on an entitlement date to be determined.
1. For illustrative purposes, an indicative issue price of ...... RM0.045...... per Placement Share (“Indicative Placement Issue Price”) represents a discount of approximately 9.82% to the 5D-VWAMP of Bina Puri Shares up to and including LPD of RM0.0499 per Share. Based on the Indicative Placement Issue Price, the Proposed Private Placement will raise gross proceeds of approximately RM21.57 million.
2. In any event, the discount of the issue price of the Rights Shares shall not be more than 30% of the TERP. For illustrative purposes, an indicative issue price of ...... RM0.035 .... per Rights Shares (“Indicative Rights Issue Price”) would represent a discount of approximately 20.27% to the TERP of Bina Puri Shares of approximately RM0.0439 per Share calculated based on the 5D-VWAMP of Bina Puri Shares up to and including LPD of RM0.0499 per share.
BINA PURI HOLDINGS BHD ("BINA PURI" OR THE "COMPANY")
(I) PROPOSED PRIVATE PLACEMENT (II) PROPOSED RIGHTS ISSUE WITH WARRANTS
(a) private placement of 479,293,900 new ordinary shares in Bina Puri (“Shares” or “Bina Puri Shares”), representing 30% of the existing number of issued Bina Puri Shares, to independent investor(s) to be identified (“Proposed Private Placement”); and
(b) renounceable rights issue of up to 1,659,793,300 new Bina Puri Shares (“Rights Shares”) together with up to 331,958,660 free detachable warrants (“Warrant(s) B”) on the basis of 2 Rights Shares for every 3 existing Bina Puri Shares held together with 1 Warrant B for every 5 Rights Shares subscribed on an entitlement date to be determined later (“Proposed Rights Issue with Warrants”).
Kindly refer to the attachment on further details of the Proposals. This announcement is dated 21 June 2022.
================ Massive fund raising via share issuance to PP and rights issue Directors asking for money from shareholders again.
================ Current NOSH = 1,597,646,237 will increase and exceed 3.5 BILLION shares upon implementation of above proposal
=============== Continue to monitor quarterly results directors plan for utilisation of company funds directors plan for more fund raising via shares issuance
MERIDIAN is the latest high NOSH low price penny stock proposing to do shares consolidation !!! Announcement dated 2 August 2022
=================== Be careful trading high NOSH low price penny stocks
Directors have power to propose shares consolidation to trim down your shareholdings by many times and raise more fund via rights issue with free warrants
It was the intention of the Company to complete the Proposed Private Placement prior to the implementation of the Proposed Rights Issue with Warrants. As such, the Proposed Rights Issue with Warrants was conditional upon completion of the Proposed Private Placement.
The indicative issue price per Placement Share is assumed to be RM0.035 (“Indicative Placement Issue Price”), which represents a discount of approximately 3.58% to the 5D-VWAMP of Bina Puri Shares up to and including LPD of RM0.0363 per Share;
I'm more concern about the "indicative" issue price per placement share as noted in the proposal. YES, THE REAL ISSUE PRICE CAN BE HIGHER THAN THE PROPOSED / INDICATIVE PRICE in the condition the management of the company plan and actualize it later before the company want to execute the Placement Share. BUT.... if the management of the company just want to stick at the proposed issue price for execution of the PP, the chance to "goreng" the price higher will be limited.
(I) PROPOSED PRIVATE PLACEMENT (II) PROPOSED RIGHTS ISSUE WITH WARRANTS
(a) private placement of 479,293,900 new ordinary shares in Bina Puri (“Shares” or “Bina Puri Shares”), representing 30% of the existing number of issued Bina Puri Shares, to independent investor(s) to be identified (“Proposed Private Placement”); and (b) renounceable rights issue of up to 1,659,793,300 new Bina Puri Shares (“Rights Shares”) together with up to 331,958,660 free detachable warrants (“Warrant(s) B”) on the basis of 2 Rights Shares for every 3 existing Bina Puri Shares held together with 1 Warrant B for every 5 Rights Shares subscribed on an entitlement date to be determined later (“Proposed Rights Issue with Warrants”).
Kindly refer to the attachment on further details of the Proposals. This announcement is dated 21 June 2022.
BINA PURI HOLDINGS BHD ("BINA PURI" OR THE "COMPANY")
(I) PROPOSED PRIVATE PLACEMENT (II) PROPOSED RIGHTS ISSUE WITH WARRANTS
M&A Securities on behalf of the Board is pleased to announce that the Board has resolved to fix the issue price of the Rights Shares at RM0.035 each and the exercise price of the Warrants B at RM0.04 each.
================ (I) PROPOSED PRIVATE PLACEMENT OF UP TO 479,293,900 NEW ORDINARY SHARES IN BINA PURI HOLDINGS BHD ("BINA PURI" OR THE "COMPANY") ("BINA PURI SHARE(S) OR SHARE(S)") ("PLACEMENT SHARE(S)"), REPRESENTING UP TO 30% OF THE EXISTING ISSUED SHARES OF BINA PURI, TO INDEPENDENT INVESTOR(S) TO BE IDENTIFIED AT AN ISSUE PRICE TO BE DETERMINED LATER ("PROPOSED PRIVATE PLACEMENT"); AND
(II) PROPOSED RENOUNCEABLE RIGHTS ISSUE OF UP TO 1,656,944,633 NEW BINA PURI SHARES ("RIGHTS SHARES") TOGETHER WITH UP TO 331,388,927 FREE DETACHABLE WARRANTS ("WARRANT(S) B") ON THE BASIS OF 2 RIGHTS SHARES FOR EVERY 3 EXISTING BINA PURI SHARES HELD ON AN ENTITLEMENT DATE TO BE DETERMINED LATER TOGETHER WITH 1 WARRANT B FOR EVERY 5 RIGHTS SHARES SUBSCRIBED ("PROPOSED RIGHTS ISSUE WITH WARRANTS") (COLLECTIVELY, REFERRED TO AS "PROPOSALS") https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3307377
================== More than 2 BILLION shares to be issued upon completion of above exercise
Another multi-billion NOSH penny stock in the making NOSH will likely exceed 4 BILLION shares in very near future
RENOUNCEABLE RIGHTS ISSUE OF UP TO 1,402,258,933 NEW ORDINARY SHARES IN BINA PURI HOLDINGS BHD ("BINA PURI") ("BINA PURI SHARES" OR "SHARES") ("RIGHTS SHARES") ON THE BASIS OF 2 RIGHTS SHARES FOR EVERY 3 EXISTING BINA PURI SHARES HELD AS AT 5.00 P.M. ON MONDAY, 27 MARCH 2023, TOGETHER WITH UP TO 280,451,788 FREE DETACHABLE WARRANTS B IN BINA PURI ("WARRANT(S) B") ON THE BASIS OF 1 WARRANT B FOR EVERY 5 RIGHTS SHARES SUBSCRIBED, AT AN ISSUE PRICE OF RM0.035 PER RIGHTS SHARE ("RIGHTS ISSUE WITH WARRANTS") Despatch Date 29 Mar 2023 Date for commencement of trading of rights 28 Mar 2023 Date for cessation of trading of rights 04 Apr 2023 Date for announcement of final subscription result and basis of allotment of excess Rights Securities 17 Apr 2023 Last date and time for : Sale of provisional allotment of rights 03 Apr 2023 05:00 PM Transfer of provisional allotment of rights 05 Apr 2023 04:30 PM Acceptance and Payment 11 Apr 2023 05:00 PM Excess share application and payment 11 Apr 2023 05:00 PM Available/Listing Date 21 Apr 2023
========== Take note of relevant dates if subscribing for the rights. Directors set to collect up to RM49 million from the massive fund raising exercise Shareholders need to dig pocket if intend to contribute to the fund raising NOSH will exceed 4 Billion shares
Upon completion, Estimated new NOSH = 2,076,941,137 + 479,293,900 + 1,402,258,933 = 3,958,493,970 !!!
Almost 4 BILLION shares !!!
Estimated new warrant = 280,451,788
Welcome to high NOSH low price penny stocks club
=============== Issue price of the Rights Shares at RM0.035 each Estimated amount to be received by directors from rights issue fund raising = 1,402,258,933 X 0.035 =RM49.08 million
Easy convenient way to obtain money from shareholders compared to stressful generation of profits from business operation.
===============
TAYOR, be careful trading and holding high NOSH low price penny stocks
Don't waste your hard earned money to subscribe for the rights contributing to directors easy fund raising exercise.
Multi year multi quarter loss making company.
Rights issue price of 0.035 looks cheaper. Based on similar rights issue of other penny stocks, the stock price will likely drop below 0.035 when the massive number of rights shares are listed on 21 April 2023.
Just be aware that there will be almost 4 BILLION shares on listing date. And about 300 million new warrants!!!!
Better to stay away and watch the operators, proxies and supporters of the fund raising exercise, play the game.
RENOUNCEABLE RIGHTS ISSUE OF UP TO 1,402,258,933 NEW ORDINARY SHARES IN BINA PURI HOLDINGS BHD ("BINA PURI") ("BINA PURI SHARES" OR "SHARES") ("RIGHTS SHARES") ON THE BASIS OF 2 RIGHTS SHARES FOR EVERY 3 EXISTING BINA PURI SHARES HELD AS AT 5.00 P.M. ON MONDAY, 27 MARCH 2023, TOGETHER WITH UP TO 280,451,788 FREE DETACHABLE WARRANTS B IN BINA PURI ("WARRANT(S) B") ON THE BASIS OF 1 WARRANT B FOR EVERY 5 RIGHTS SHARES SUBSCRIBED, AT AN ISSUE PRICE OF RM0.035 PER RIGHTS SHARE ("RIGHTS ISSUE WITH WARRANTS")
Ex-Date 24 Mar 2023
Date for commencement of trading of rights 28 Mar 2023 Date for cessation of trading of rights 04 Apr 2023
Acceptance and Payment 11 Apr 2023 05:00 PM Excess share application and payment 11 Apr 2023 05:00 PM
Date for announcement of final subscription result and basis of allotment of excess Rights Securities 17 Apr 2023
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....
awesome20
1,136 posts
Posted by awesome20 > 2022-05-17 19:38 | Report Abuse
about to come
Posted by awesome20 > 1 month ago
all in now for this
target 9c before nov2022 = >100% return