NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS): FUND RAISING DESTINI BERHAD ("DESTINI" OR THE "COMPANY") PROPOSED PRIVATE PLACEMENT OF UP TO 10% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF DESTINI ("PROPOSED PRIVATE PLACEMENT")
DESTINI BERHAD
Type Announcement Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) FUND RAISING Description DESTINI BERHAD ("DESTINI" OR THE "COMPANY")
PROPOSED PRIVATE PLACEMENT OF UP TO 10% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF DESTINI ("PROPOSED PRIVATE PLACEMENT")
The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcements in relation to the Proposed Private Placement. We refer to the announcements made by RHB Investment Bank Berhad ("RHBIB"), on behalf of the Board of Directors of Destini ("Board") on 9 May 2014, 12 May 2014 and 15 May 2014. On behalf of the Board, RHBIB wishes to announce that Bursa Malaysia Securities Berhad ("Bursa Securities") had, vide its letter dated 19 May 2014 (which was received on 20 May 2014), resolved to approve the listing and quotation of up to 99,425,352 new Destini Shares, representing up to 10% of the issued and paid-up share capital of Destini, to be issued pursuant to the Proposed Private Placement. The approval granted by Bursa Securities is subject to the following conditions:- i. Destini and its adviser must fully comply with the relevant provisions under the Main Market Listing Requirements of Bursa Securities ("Listing Requirements") pertaining to the implementation of the proposal; ii. Destini and its adviser to inform Bursa Securities upon the completion of the proposal; iii. Destini to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities' approval once the proposal is completed; iv. If relevant, Destini to furnish Bursa Securities with a certified true copy of the resolution passed by shareholders at the forthcoming annual general meeting for the authority to issue shares pursuant to Section 132D of the Companies Act, 1965 before the listing of the new shares to be issued pursuant to the Proposed Private Placement;
v. RHBIB must submit to the Exchange the placees' details in accordance with Paragraph 6.15 of the Listing Requirements as soon as practicable after each tranche of placement and before the listing of the new shares to be issued pursuant to the Proposed Private Placement; and vi. If applicable, payment of additional listing fee based on the final issue price together with a copy of the details of the computation of the amount of listing fees payable.
Destini (DSTN MK) Technical BUY with +20.8% potential return Last price : RM0.650 Target Price : RM0.705, RM0.785 Support : RM0.600 Stop-loss: RM0.590 BUY with a target price of RM0.785 with stop loss placed below RM0.590. Following the correction from the recent high of RM0.705, DSTN’s share price has consolidated within the “symmetrical triangle” pattern in the last four weeks. As the pattern is considered a bullish continuation signal, an upper breakout above RM0.650 will provide a much need boost in order to nudge the stock higher. A bullish crossover in the Stochastic indicates growing momentum, thus we expect to see a breakout soon. As the long-term trendline remains intact, we are positive that the share price would climb upward and we peg our medium-term target at the 1.61x Fibonacci extension level at RM0.785.
Yesterday, volume very high, today so low, if a lot of ppl jumped in yesterday at high price and price don't go up these 2 days, then these ppl got to poo-pooh out the next few days. If you were the market maker, would you want to goreng it up to let all the ppl who jump in yesterday to get out or would you want to collect cheaper from them?
Unless of course yesterday's volume belongs to the market maker, then the goreng should continue...
Aiyo......Issue PP at 60sen nia... .....good for the company lor......can get 60sen as compared to 35sen on the last PP price issued to Samudra......aiyoyo.....Destini next TP will be at what price ?......aiyoyo.......ha ha ha
Introducing MY's First IPO Fund for Sophisticated Investors!
MQ Chat
New Update. Discover investment communities that resonate with your ideas
MQ Trader
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
0:17
New IPO: Building management systems (BMS), solar thermal systems and energy-saving services provider, Solar District Cooling Bhd aims to list on the Ace Market!
MQ Trader 537 views | 3 d ago
0:17
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 12793 views | 11 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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....
Clj Jun
1,094 posts
Posted by Clj Jun > 2014-05-20 16:55 | Report Abuse
Destini-wa has a nice ending today. So far so good. For those who were joined destini-wa, your wealth fortune are coming soon.