PP priced at RM0.1188 still expensive & unfair to the PP investors. The directors should push the 5 days average share price to RM0.05 & issue the PP at RM0.04 (after 20% discount). This is the only way the PP investors will get a fair deal.
Sorry directors not so silly to push price down for retailers to buy at 5sen.
Total PP shares already issued is 100 miilion
Remaining 82,410,000 will be issued at around RM 0.108 if amount to pay for purchase of Hardie remains unchanged.
On behalf of the Board of Directors of the Company, Mercury Securities Sdn Bhd wishes to announce the following:-
(i) the Company had on 10 February 2021 entered into a conditional share sale agreement with Chai Kim Chong for the acquisition of 600,000 ordinary shares in Hardie Development Sdn Bhd (an existing 70%-owned subsidiary of the Company) ("Hardie"), representing 30% equity interest in Hardie, for a total purchase consideration of RM21,797,000 ("Acquisition"); and
(ii) the Company proposes to undertake a private placement of up to 182,410,000 new ordinary shares in the Company ("Permaju Shares" or "Shares"), representing 30% of the existing total number of issued Shares, to independent third-party investor(s) to be identified later and at an issue price to be determined later ("Proposed Private Placement").
Please refer to the attachment for further details on the Proposals.
Huhuhu......Hardie owner happy, will get paid soon. PP investor happy, will make at least 50 % when operator easily push to 20sen. Retailer unhappy, as most trapped above 20sen....huhuhu
Operator pressed down the price to fix issue price for specially selected private placement investors to raise fund to pay for purchase of Hardie which cost 30% of the total issued shares of the company at the date of proposal.
Pressing down the price affected weak holders and margin accounts that need to sell down to regularized their position.
Setting low issue price for PP investors to ensure PP investors will make more profits when prices are pushed up in near future.
Did the company tells you who is the specially selected PP investors? Fast easy money for this person and that person.
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cnnboy
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Posted by cnnboy > 2021-05-12 11:21 | Report Abuse
I am busy now with the ‘buy’ signal on this counter.