If you really read through the news, it consider a good news for WRP group because the mis managed by previous CEO so they request MACC to investigate. By the way, old news.,... I hope WRP can be the next new shareholder in coming announcement ..
As I last Friday say sure drop gao gao. If today drop below 0.55 then don't look for it already. Even if the news is real or big shark want to push, also wouldn't so fast push up ahain
GM soon, Free you warrant. Proposed Bonus Issue of up to 97,211,700 Free Warrants in Acoustech on the basis of 1 Warrant for every 2 Existing Ordinary Shares in Acoustech held by Entitled Shareholders of Acoustech on an Entitlement Date to be determined and announced later.
Any ideas who is the investor subscribing to the redeemable convertable preference shares? Any parties related to WRP? Anyways free warrants are always a good thing!
Singaporeans, through a discretionary PE fund and an Asset Management firm. non-related to WRP but they seem optimistic, subscribing to up to RM80 million entitled to only 2% dividend on profit.They have the right to convert the RCPS but only up to 10% of the enlarged share capital (taking into account warrant conversions as well). all in all, seems like a good growth stock but need to be cautious, in that dont just evaluate based WRP rumours but rather the overall benefit of the current capital injection/bonus issue
Thanks noobinvestor1313. Yes seems positive in that a certain party would not invest RM 80 million without a compelling reason to do so. The bonus issue of free 1 warrant for every 2 shares held is an added bonus to existing shareholders though.
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