Renouncable rights issue of up to 2,354,494,986 new ordinary shares in the Company ("BSLCORP Shares” or “Shares”) (“Rights Shares”) together with up to 981,039,577 free detachable warrants in the Company (“Warrants B”) on the basis of 12 Rights Shares together with 5 free Warrants B for every 2 existing Shares held by the entitled shareholders of the Company
=============== Announcement 28 June 2022 Investors sold down from 0.14 to 0.07 (28 Jun 13 Jul) They are not willing to dig out more money to contribute to directors fund raising exercise. Illustrative rights issue price is 0.055 After rights issue completed, possible for stock price to drop below rights issue price like many penny stocks with similar fund raising exercise.
After rights issue, NOSH will exceed 2.5 billion shares !!! And almost 1 billion new warrant B
================ TAYOR, be aware of the money needed to subscribe for the rights shares
PROPOSED RENOUNCEABLE RIGHTS ISSUE OF UP TO 2,354,494,986 NEW ORDINARY SHARES IN THE COMPANY ("BSLCORP SHARES" OR "SHARES") ("RIGHTS SHARES") TOGETHER WITH UP TO 981,039,577 FREE DETACHABLE WARRANTS IN THE COMPANY ("WARRANTS B") ON THE BASIS OF 12 RIGHTS SHARES TOGETHER WITH 5 FREE WARRANTS B FOR EVERY 2 EXISTING SHARES HELD BY THE ENTITLED SHAREHOLDERS OF THE COMPANY ON AN ENTITLEMENT DATE TO BE DETERMINED ("PROPOSED RIGHTS ISSUE WITH WARRANTS")
================ Another high NOSH low price penny stock in the making
DIRECTORS undertaking massive fund raising via Rights Issue with Free Warrant
Shareholders need to fork out lots of money to contribute to company fund
Illustrative issue price of RM0.055 per Rights Share Current NOSH = 278,656,298 Probable rights shares = 1,671,937,788 (based on 12 for 2 ratio) Probable amount to be raised = 1,671,937,788 X 0.055 = RM91.9 million
================ After completion of rights issue, New NOSH = 1,950,594,086 (almost 2 BILLION shares) New Warrant B = 696,640,745
================
Be careful with hard-earned money investing in high NOSH low price penny stocks, many of which had undergone shares consolidation causing huge losses to shareholders.
================ TAYOR, don't be trapped at high price or caught in shares consolidation
Description Proposed Renounceable Rights Issue of up to 2,354,494,986 new shares ("Rights Shares") together with up to 981,039,577 free detachable warrants in the Company ("Warrants B") on the basis of 12 rights shares together with 5 free Warrants B for every 2 existing shares held by the entitled shareholders of the Company on an entitlement date to be determined.
============= Proposal approved in EGM Directors very soon will be asking shareholders and retail investors to contribute money to company cash for their utilisation
========== Massive share issuance resulting in dilution of shareholders equity % and EPS.
BSL CORPORATION BERHAD ("BSL" OR "COMPANY") RIGHTS ISSUE WITH WARRANTS
On behalf of the Board, Malacca Securities Sdn Bhd wishes to announce that an application has been submitted to Bursa Securities on even date to seek its approval for an extension of time of six (6) months from 16 January 2023 to 15 July 2023 for the Company to complete the implementation of the Rights Issue with Warrants.
This announcement is dated 27 December 2022.
============= RI with warrant postponed again. Opportunity for operator to goreng again in near future towards July 2023
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....
taihai
477 posts
Posted by taihai > 2022-07-12 21:46 | Report Abuse
SC create a lot of rubbish stock ???