On Dec 1, Green Packet Bhd sold its final block of 189.11 million shares or an 8.74% stake in loss-making G3 Global Bhd on the open market, for RM11.35 million.
Green Packet first emerged as a substantial shareholder of G3 in August 2016 but had been trimming its shareholding in the latter after a divestment plan was announced in July this year to dispose of up to 612.57 million shares, or a 24.81% stake, to Green Packet’s managing director and CEO Puan Chan Cheong at an indicative disposal sum of between RM61.26 million and RM91.89 million in cash, or 10 to 15 sen per share. However, the disposal to Puan did not materialise.
In the July announcement, Green Packet had warned that G3’s share price may further trend downward due to market uncertainty and volatility. G3’s share price has tumbled 27% since early December to close at 9.5 sen last Wednesday.
On Dec 8, G3 proposed a diversification into the healthcare-related business, which includes the distribution of Covid-19 test kits. It is also looking to raise RM43.29 million from a proposed private placement of up to 432.85 million new shares to independent third-party investors.
Remarks : On 4 January 2022, the composition of Risk Management Committee ("RMC") has been changed as follows:
1. Dr. Salihin Bin Abang is re-designated from Chairman of RMC to Member of RMC; 2. Mr. Kunal Tayal is appointed as Chairman of RMC; 3. Dato' Sri Alias Bin Ahmad is appointed as Member of RMC; and 4. Mr. Lai Chin Tak resigned as Member of RMC following his resignation as Director.
Remarks : On 4 January 2022, the composition of Remuneration Committee ("RC") has been changed as follows:
1. Dato' Sri Alias Bin Ahmad is appointed as Chairman of RC; 2. Mr. Kunal Tayal is appointed as Member of RC; and 3. Mr. Lai Chin Tak resigned as Chairman of RC following his resignation
Remarks : On 4 January 2022, the composition of Audit Committee ('AC") has been changed as follows:
1. Dr. Salihin Bin Abang is re-designated from Member of AC to Chairman of AC; 2. Dato' Sri Alias Bin Ahmad is appointed as Member of AC; 3. Mr. Kunal Tayal is appointed as Member of AC; and 4. Mr. Lai Chin Tak resigned as Member of AC following his resignation as Director.
Additional Listing Announcement /Subdivision of Shares G3 GLOBAL BERHAD
1. Details of Corporate Proposal Involve issuance of new type/class of securities ? No Types of corporate proposal Exercise of Warrants Details of corporate proposal Conversion of Warrants No. of shares issued under this corporate proposal 12,000 Issue price per share ($$) Malaysian Ringgit (MYR) 0.0300
not really offload, left hand sell then right hand buy. some can say its a bargain atleast volume is back some say its a trap to catch people its how you see it, for me 8c is a bargain price worth the risk considering the huge volume, tomorrow and next week no show then its a trap but got show its HUAT CHAI
i call this "operator fishing" most people look for "Volume" when doing short term trading being in top volume is a good bait to fish people in, trade with care
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....
hoot9e996
1,813 posts
Posted by hoot9e996 > 2021-12-28 09:45 | Report Abuse
need money to buy my clothes back