Over at Minetech Resources Bhd, Datuk Awang Daud Awang Putera acquired 28.8 million shares or a 3.13% stake in the quarry and construction outfit.
Awang, who is the co-founder of oil and gas company Serba Dinamik Holdings Bhd, has been accumulating shares in Minetech since emerging as a substantial shareholder on Feb 11. He now controls a 21% stake in Minetech, and was appointed executive chairman of the group on March 31.
on the surface, 40m esos at 0.05 may not seem significant considering the total shares issued is 959m. On paper, the impact may seem small, possibly drop 1 cent from today closing. However, imagine you are the employee entitled to this esos at 0.05, what will you do first thing in the morning when the price is few times higher? in the current market sentiment, i guess most will sell coz anything above 0.05 is pure profit. Herd mentality will follow. just be careful with this counter, sell if you have profit. sharing my 2 cents.
Idss suspended till june personally i think idss should be banned. Dow is super green plus good news that business will operate to full capacity thus minetec will probably down a bit but can rebound in short time ♡
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Looiks
5,493 posts
Posted by Looiks > 2020-04-28 14:37 | Report Abuse
hehehe.......everybody scared to sell..