this counter has started from 25 sen rallying towards above 1.00 level, but their results have been inconsistent. It's share price has retraced below SMA200 during mid-April and sell down continues after a recovery in early June. Now the company intend to venture into gloves, sanitisers and purifier. All these business diversification will need capital expenditure and also will take time to materialise. I think the share price has already reflected all the news in the market
RENOUNCEABLE RIGHTS ISSUE OF UP TO 936,309,855 NEW IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES IN PERMAJU INDUSTRIES BERHAD ("PERMAJU" OR THE "COMPANY") ("ICPS") ("RIGHTS ICPS") AT AN ISSUE PRICE OF RM0.05 PER RIGHTS ICPS TOGETHER WITH UP TO 93,630,985 FREE DETACHABLE WARRANTS IN PERMAJU ("WARRANTS") ON THE BASIS OF 10 RIGHTS ICPS TOGETHER WITH 1 FREE WARRANT FOR EVERY 2 EXISTING ORDINARY SHARES IN PERMAJU ("PERMAJU SHARES" OR "SHARES") HELD BY THE ENTITLED SHAREHOLDERS OF PERMAJU AT 5.00 P.M. ON 14 JULY 2020 ("RIGHTS ISSUE OF ICPS WITH WARRANTS")
Right issues mean they need more money. now already losing money. whether this raised money will use to service the debt or for new business.. it mean it will take longer to be profitable again. it will be futile to pump it now..
ILC-22062020-00004RENOUNCEABLE RIGHTS ISSUE OF UP TO 936,309,855 NEW IRREDEEMABLE CONVERTIBLEPREFERENCE SHARES IN PERMAJU INDUSTRIES BERHAD ("PERMAJU" OR THE "COMPANY")("ICPS") ("RIGHTS ICPS") AT AN ISSUE PRICE OF RM0.05 PER RIGHTS ICPS TOGETHERWITH UP TO 93,630,985 FREE DETACHABLE WARRANTS IN PERMAJU ("WARRANTS") ON THEBASIS OF 10 RIGHTS ICPS TOGETHER WITH 1 FREE WARRANT FOR EVERY 2 EXISTINGORDINARY SHARES IN PERMAJU ("PERMAJU SHARES" OR "SHARES") HELD BY THE ENTITLEDSHAREHOLDERS OF PERMAJU AT 5.00 P.M. ON 14 JULY 2020 ("RIGHTS ISSUE OF ICPSWITH WARRANTS") Kindly be advised of the following : 1) The Right commenceof trading : 15 July 2020 2) The Date of Despatch of the Prospectus andProvisional Allotment Letter of Offer : 16 July 2020 3) The last day andtime for Acceptance, Renunciation and Payment : 10 August 2020 4) The Rightscessation quotation : 3 August 2020 The Stock Short Name, Number and ISINCode PERMAJU-PR, 7080PR and MYL7080PR004 Remarks:- The holders of the newPermaju Shares to be issued arising from the conversion of the ICPS shall notbe entitled to any dividends, rights, allotments and/or other distributionsthat may be declared, made or paid, the entitlement date of which is prior tothe date of allotment and issuance of such new Permaju Shares arising from theconversion of the ICPS.MANAGER, REF. DATA MANAGEMENT
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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....
nicholas99
9,863 posts
Posted by nicholas99 > 2020-06-22 09:03 | Report Abuse
Not yet bottom. Might reach 0.2