On behalf of the Board of Directors of SCGM, Inter-Pacific Securities Sdn Bhd wishes to announce that Bursa Securities has, vide its letter dated 16 April 2024, resolved to grant the Company a further extension of time of 6 months up to 1 September 2024 to submit its regularisation plan to the regulatory authorities.
The aforesaid approval is without prejudice to Bursa Securities’ right to proceed to suspend the trading of the listed securities of SCGM and to de-list the Company in the event:-
(i) the Company fails to submit its regularisation plan to the regulatory authorities on or before 1 September 2024;
(ii) the Company fails to obtain the approval from any of the regulatory authorities necessary for the implementation of its regularisation plan; or
(iii) the Company fails to implement its regularisation plan within the time frame or extended time frame stipulated by any of the regulatory authorities.
Upon occurrence of any of the events set out in (i) to (iii) above, Bursa Securities may suspend the trading of the listed securities of SCGM on the 6th market day after the date of notification of suspension by Bursa Securities and de-list the Company, subject to the Company’s right to appeal against the delisting.
HEADS OF AGREEMENT IN RELATION TO THE PROPOSED ACQUISITION OF THE ENTIRE EQUITY INTEREST IN ERAMAS GLOBAL GROUP SDN BHD On behalf of the Board of Directors of SCGM, Inter-Pacific Securities Sdn Bhd wishes to announce that the Company had on 20 March 2024, entered into a heads of agreement with Chin Kok Tian, Yan Hua Lan, Tan Ah Tek, Gan Chuan Lee, Tey Chee Shin, Tan Tai Chong and Lau Sie Khian (collectively referred to as the “Vendors”) for the acquisition of all ordinary shares in Eramas Global Group Sdn Bhd for a purchase consideration to be determined later (“Proposed Acquisition”)
I don't think there is a limit on how long they can delay, but taking more than 3 years abnormal. They have one more year. This time they only get 4 months extension. Maybe a signal that the deal is soon.
95m consideration shares are to be offered to bumi by the new boss at 0.365 which is at no discount to the current market price of 0.365 (0.615 adjusted for special dividend of 0.25). Will bumi subscribe for the offer ?? Unlikely unless there is a discount of 20% to 30% to the market price.
@Just88 My take is that they will subscribe because much lower initial outlay. Only 0.365 vs 0.615 (with 0.25 special dividend). Also no brokerage fees, maybe just RM10 stamp duty only.
Brutus, I also believe they will subscribe but the market price then has to be much higher than 0.365 (after special dividend) in order to attract them into subscribing.
yes....after ex-dividend..... the share price should slowly climb up to ~60sen as the earning kick in. Even better if there is annual dividend announcement....
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Mikecyc
47,016 posts
Posted by Mikecyc > 2024-06-30 17:02 |
Post removed.Why?