Buy high sell Low? Dato bought 12,500,000 at 10 cent on 20, 27 August, disposed 7 cent on 17 Oct loss Rm375,000. Totalling losses RM780,000 to date form RCN. He is consider one of the very generous director, burning himself to help the new entrants.
Miss Michelle and her nominees will be laughing all the way to the bank by accumulating secretly. Market suspect he have disposed further shares in 18 oct to 22 oct by pressing down the share price.
By the way, Dato also rating as one of the most active in speculating his own company shares in Bursa by history.
Losing remain pantie As expected Dato sold 7995000 Tiger at 5 cents on 23 october, loss Rm399750 with original cost of 10 cents each. For director with right strategy losing RM1.2 Million to defend a hostile takeover is not a problem, The problem is don't have proper fighting strength by buy RCN converted and sell market price to defend the fighting. Cannot last for long and eventually need White Knight to save him
Interesting…..sell down for water testing and collect more cheap share at 0.05? somewhat I feels the bow string are tightly griped, angle are good after consolidation....... arrow ready take off soon?
While RCN is free to entitled holders, they have to pay 10sens to convert to mother shares.Selling at 5sens is a loss. Hostile take over is already a given. Shoot the tiger
Somewhat 3 of the major's shareholding has been reduce by half after share consolidation, where all the share gone? new "Tiger" has been emerged? Can't wait to see the latest AGM & Annual report.
Don't make too much useless complaints over here, if most of the shareholders think that Dato Tan can't perform properly as a "good" director for all Tiger's shareholders, what the shareholders could do are just use theirs shareholders' rights to vote Dato Tan out from board of director. Just simple like that. And this is a very basic shareholder's knowledge and rule which are protected by law of Malaysia.
NOTICE IS HEREBY GIVEN that the Twenty-Third Annual General Meeting of the Company will be held at Klana Resort Seremban, Jalan Penghulu Cantik, Taman Tasik Seremban, 70100 Seremban, Negeri Sembilan Darul Khusus on Wednesday,26 December 2018 at 11:00 a.m. for the following purposes:-
A G E N D A
As Ordinary Business 1. To receive the Audited Financial Statements for the financial year ended 30 June 2018 together with the Reports of the Directors and Auditors thereon.
2. To approve the payment of Directors’ Meeting Allowance of up to RM100,000 for the period from January 2018 until the next AGM to be held in year 2019 and be payable after the meeting in arrears. (Resolution 1)
3. To re-elect the following Directors retiring pursuant to Article 71 of the Company’s Articles of Association (Resolution 2) :-
(a) Datin Sek Chian Nee; and (b) Low Boon Chin.
4. To re-appoint Messrs. UHY as Auditors of the Company until the conclusion of the next Annual General Meeting and to authorise the Directors to determine their remuneration. As Special Business To consider and, if thought fit, to pass the following Ordinary Resolutions with or without modifications (Resolution 3):-
5. AUTHORITY TO ISSUE SHARES PURSUANT TO THE COMPANIES ACT 2016 “THAT subject always to the Companies Act 2016 (“the Act”), the Articles of Association of the Company and the approvals from Bursa Malaysia Securities Berhad (“Bursa Securities”) and any other relevant governmental and/or regulatory authorities, the Directors be and are hereby empowered, pursuant to the Act, to issue and allot shares in the capital of the Company at such price and upon such terms and conditions, for such purposes and to such person or persons whomsoever the Directors may in their absolute discretion deem fit provided always that the aggregate number of shares issued pursuant to this resolution does not exceed ten per centum (10%) of the total number of issued shares of the Company for the time being;AND THAT the Directors be and are also empowered to obtain the approval for the listing of and quotation for the additional shares so issued on Bursa Securities; AND FURTHER THAT such authority shall commence immediately upon the passing of this resolution and continue to be in force until the conclusion of the next Annual General Meeting of the Company.” (Resolution 4)
Dear all Tiger shareholders, please spent some valuable time to read, study & understand above mentioned Agenda Meeting carefully and vote as accordingly on this coming AGM.
If all Tiger shareholders are agreed to above mentioned Agenda, just give the support & vote agreed. Same things, if all the Tiger shareholders are not agreed with the Agenda, just show the disagreement to vote against the Agenda on this coming AGM.
Please always bear in mind that, It is the shareholders' right, whether to vote support or against to the Meeting Agenda.
Therefore, nobody could force any body or shareholders to vote to their favor parties, only the shareholders themselves could make their own decision & judgement, whether to vote support or against to the Meeting Agenda.
Every single vote from all Tiger shareholders are important & counted. Therefore, all Tiger shareholders are welcome to vote as accordingly on this coming AGM.
It is the duties and responsibilities for all the shareholders to vote as accordingly on AGM and nobody could stop any body/shareholders from voting, as stated clearly in Malaysia Company Act. Whether the shareholders to vote support or against to the Meeting Agenda, all the shareholders are protected by Law of Malaysia. Therefore all the shareholders got the equal rights and freedom to vote as accordingly.
If any shareholders are facing voting problem or hindrances from any body/parties or association, please make a proper police report immediately & forward the report to "BURSA" for further judgement as accordingly.
And last, wishing all shareholders could have a happy voting day on this coming AGM.
This penny worth company's with useless eating shareholders investment director. We only can cry without tear. Mostly the tan family's is only know to eating and chewing shareholders money. How many years already ? No performance only know press down the price and consolidation.
David Lee, vote out ? All of the board of directors is tan family's. We know in a wolf house, voters had disappointed to vote. If can vote I think shareholders prefer to vote you as director.
Dear Mr. Tiong Kung King Zien, thanks for your concerned, response and proposal. Your concerned and question are a bit longer and need more data and clarification. Therefore, please allow me to response to Mr. miniminer statement 1st. Would replied to you as accordingly later as i need some more time to figure out more data and statement for you.
Dear Mr. Miniminer, sorry to inform that your statement is a bit out from my understanding on this topic and I also not very sure how do you get the calculation & make the statement “ 12mil tiger to be release soon which is come about 15% ” and also “ the 3 majors may eventually hold up max 36% state ” ?
Perhaps, if you don't mind, you are appreciated / couold give some more info & the calculation over here for sharing purposes? Thanks in advance.
Meanwhile, below are my finding and understanding for sharing purposes, you all are welcome and please to correct me if i'm wrong.
To me, your statement should be more related to Agenda meeting ( Resolution 4 ) for this coming AGM.
My understanding is all the directors can't simply issue new shares by appling Redeemable Convertible Notes ( RCN ) programme, but need to get approval from majority shareholders agreement by voting system on the AGM, and the total aggregate number of new shares issued pursuant should not exceed ten per centum (10%) of the total number of issued shares of the Company for that particular year as per Malaysia Companies Act. After getting AGM's approval, then the directors would proceed to submit & apply to “BURSA” to get the approval, by giving reason that RCN programme has been agreed and passing through AGM. And normally “BURSA” won't or can not object the RCN programme and has to approve as accordingly as the RCN programme has been agreed and passing through AGM by most of the shareholders. ( This is also explained why if got investors are trying to report that the company directors are “eating & chewing” shareholders money through RCN programme to “BURSA”, “BURSA” can't take any action against to the directors by giving reason that RCN programme has been agreed and passing through AGM by most of the shareholders; i.e. the “eating & chewing” shareholders money issues is not right & exist as the directors have already obtained approval from AGM & support by most of the shareholders ).
In other words, if we study carefully, we would be able to know that the recently conversion of the principal amount of Redeemable Convertible Notes ( RCN ) by Tiger's directors, which were already had been approved by most of the shareholders on last AGM ( on 2017's AGM ).
If we are not mistaken, the total aggregate number of new shares issued pursuant to should be almost reaching to ten per centum (10%) of the total number of issued shares of the Company for year 2018. [ Let take the latest/recently 2 number of RCN for example, i.e. the total numbers of new shares had been issued out should be approximately 15,000,000 new ordinary shares on 02-Nov-2018 and 28,000,000 new ordinary shares on 07-Nov-2018, which is amouting to total numbers of 43,000,000 (15,000,000 + 28,000,000 = 43,000,000 ) new ordinary shares or almost equivalent 7.2% of the total number of issued shares of the Company for this year, i.e. for year 2018 ( by applying 600,000,000 as the total number of issued shares of the Company ].
Therefore, from the above mentioned calculation, we almost knowing that the total aggregate number of new shares issued pursuant to should be almost reaching to ten per centum (10%) of the total number of issued shares of the Company for year 2018, and if the directors have intention to proceed to issue new shares throught RCN programe, then the directors are already acting against Malaysia Companies Act, which is clearly stated that the aggregate number of shares issued pursuant to should not exceed ten per centum (10%) of the total number of issued shares of the Company for the time being. ( By acting against Malaysia Companies Act, the company directors would be sued and jailed as accordingly if get caught by BURSA ) . I.e. if the directors insist want to issue new shares through RCN programme, then the directors have no choice but have to get the approval from most of the shareholders on this coming AGM. And this is also explained why Resolution 4 as stated below is coming out on the Agenda meeting for all shareholders to vote whether the majority of shareholders are agreed or against to Resolution 4.
Item number 5 ( Resolution 4 ) as per Agenda Meeting on AGM:-
AUTHORITY TO ISSUE SHARES PURSUANT TO THE COMPANIES ACT 2016 “THAT subject always to the Companies Act 2016 (“the Act”), the Articles of Association of the Company and the approvals from Bursa Malaysia Securities Berhad (“Bursa Securities”) and any other relevant governmental and/or regulatory authorities, the Directors be and are hereby empowered, pursuant to the Act, to issue and allot shares in the capital of the Company at such price and upon such terms and conditions, for such purposes and to such person or persons whomsoever the Directors may in their absolute discretion deem fit provided always that the aggregate number of shares issued pursuant to this resolution does not exceed ten per centum (10%) of the total number of issued shares of the Company for the time being;AND THAT the Directors be and are also empowered to obtain the approval for the listing of and quotation for the additional shares so issued on Bursa Securities; AND FURTHER THAT such authority shall commence immediately upon the passing of this resolution and continue to be in force until the conclusion of the next Annual General Meeting of the Company.” (Resolution 4)
If all Tiger shareholders are agreed to above mentioned Agenda, then it is the shareholders rights to give the support & vote agreed. Same things, if all the Tiger shareholders are not agreed with the Agenda, then it is also the shareholders rights to show the disagreement to vote against the Agenda on this coming AGM.
Again, if above mentioned Resolution 4 have been agreed & passing through on this coming AGM, then it is also meaning that Tiger's directors are empowered by most of the shareholders that to proceed to issue new ordinary shares through RCN programme, i.e. another new aggregate number of shares issued pursuant to should not exceed ten per centum (10%) of the total number of issued shares of the Company for 2019, until the next AGM's approval by most of the shareholders. And these process ( new shares issued ) would be repeated again and again, as long as the directors continue successfully to obtain AGM and “BURSA”s approval in future.
Meanwhile, for the statement “ the 3 majors may eventually hold up max 36% state ” ? My understanding is that three of them, i.e. Dato' Tan Wei Lian , DATIN SEK CHIAN NEE and MISS TAN LEE CHIN should have a joined/sub-account. If your statement is correct, i.e. “ 12mil tiger to be release soon which is come about 15%” , then three of them should have a total 15% only with a joined/sub-account, but should not 36% ? Right?
For further information and understanding, as until 1st November 2018, three of them only have about 43,012,475 ordinary shares or about 7.12% as per BURSA's submission and record. Therefore, the statement for “ the 3 majors may eventually hold up max 36% state ” should be a questionable? Right?
Hopefully above mentioned clarification could help all to understand some more investment knowledge and shareholders' rights.
TO FURTHER CLERIFY THE 75m RCN AND 10% NEW SHARE ISSUE
Just to share the 10% new share through private placement approved in 2017 AGM already issued stated in pg 116 in18 annual report. (private placement 139,059,011 at 5 sen pre consolidated).
sorry, just to share the 10 % new share private placement approved in 2017 AGM already issued and completed as stated in 2018 annual report Pg 116 ie privated placement 139m at 5 sen pre consolidated price)
The Agenda No 5 Resolution in 2018 AGM is the 10% new share private placement to be issue again in coming year and the price can be 10% lower based on the last transaction period.
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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....
WilburR2
848 posts
Posted by WilburR2 > 2018-10-22 16:45 | Report Abuse
get ready to shoot the tiger