On behalf of the Board of Directors of WECB ("Board"), UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") wishes to announce that the Company intends to undertake the following:-
i. a bonus issue of up to 131,801,486 free warrants in WECB ("Warrant(s)") on the basis of 1 Warrant for every 2 existing ordinary shares in WECB ("WECB Share(s)" or "Share(s)") held by shareholders of the Company whose names appear in the Company's record of securities holders established by Bursa Malaysia Depository Sdn. Bhd. ("Bursa Depository") under the rules of Bursa Depository pursuant to the Securities Industry (Central Depositories) Act, 1991 ("Record of Depositors") on an entitlement date, to be determined and announced later by the Board ("Entitlement Date") ("Entitled Shareholders") ("Proposed Bonus Issue of Warrants"); and
ii. the establishment of a long term incentive plan, which comprises the proposed employee share option scheme ("Proposed ESOS") and the proposed share grant plan ("Proposed SGP"), of up to 15% of the issued share capital of the Company (excluding treasury shares of WECB, if any) at any point in time during the duration of the long term incentive plan, for the eligible employees and Directors of WECB and its subsidiary companies ("WECB Group" or the "Group"), which are not dormant, who fulfil the eligibility criteria as set out in the by-laws of the long term incentive plan ("Proposed LTIP").
Wong has proposed private placement since Sept 2021, so far no action. Now propose additional LTIP at 15% of share capital. Believe they won't price the PP n LTIP at above 60 sen
The management of Wong refused to meet the fund managers, hence the share price cannot perform for years. The share price of Kobay is at 6.05, they are in the same industry.
The ratio of the PAT of Kobay compared to Wong is 9720/2834 = 3.43. If the share price of Wong can perform strongly like Kobay in 2022, Mr Market will give the target price of Wong equal to 6.05/3.43 = 1.76.
I hope the management of Wong will meet the fund managers soon. Without the fund managers to invest in this stock, Wong will not perform well. I hope the management of Wong will change for good. Thank you.
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Posted by Foreign_Invest > 2021-12-15 23:12 | Report Abuse
wow, great QR again. Tomorrow will limit up