7158 SCOMI SCOMI GROUP BHD Additional Listing Announcement
1. Details of Corporate Proposal Whether the corporate proposal involves the issuance of new type and new class of securities? No Types of corporate proposal : Others Details of Corporate Proposal : Conversion of Irredeemable Convertible Secured Loan Stocks (ICSLS) to Ordinary Shares No. of shares issued under this corporate proposal: 1,605,275 Issue price per share ($$) : MYR 0.400 Par Value ($$) : MYR 0.100 Latest issued and paid up share capital after the above corporate proposal in the following Units : 1,344,350,372 Currency : MYR 134,435,037.200 Listing Date : 22/11/2012 Remarks : The new ordinary shares were allotted as a result of the conversion of 6,421,100 ICSLS. This announcement is dated 21 November 2012.
the 134mn+ number sure looks familiar no? hehehehe
dunno who is doing the conversion already? listing date is tomorrow :)
simple: IJM will have 25% controlling stake tomorrow if my guess is correct. That's the reason the delay the EGM to next year, so no vote for the late comers :)
Siew & Abu are daft! the arrangement with IJM preceded their buying in open market. All dealt properly with SC and shareholders from as far back as February! I can't see why IJM has to panic! and i certainly dont see how Siew & Abu could win in their litigation! Anyway, Shah is shoring his position in case of board management vote-out! good that Kamaluddin ask for defining their stakes in Kaspadu. Looks like he indeed held less than 2% of their scomi stake in Kaspadu. To the reporters of the Edge Financial daily, go check and report back please!
But do expect selldown if these two sulks! That's the only setback i see!
Scomi is a growing stock with many jobs in the pipeline. This " WAR" has to end. It only hurt SCOMi investors and traders in the market. I hope they can resolve their differences imicably and start to concentrate on the business & with this will pave the price to go up faster. Remember 26 weeks ago the price was 0.205. Look where it is now 0.39. Shah has done a good job. I believe once resolve the management can bring the company to greater heights.
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Posted by tonylim > 2012-11-19 23:06 | Report Abuse
armoury in ....