The source close to the matter told theedgemarkets.com that the resignation of Nik Hamdan — Barakah’s controlling shareholder with a 33.808%. direct stake — was the "best action" for the company.
“The boardroom change as announced today was thought of as the best action that can be taken for the group to work on resolving its financial problem, especially the amount that is overdue to its creditors.
fundamentally strong, only the major issue was the stupid CEO, which i am glad, already gone. I am pretty sure, he was forced by the creditors as one of the requirements for them to accept the restructuring plan.
nothing related to barakah. Debts is pilling with excessive amount of loan outstanding from bankers.What are the remedy?.....Issuance of new Right Issue with every existing 1:2...price depleted heavily
90 days grace period is over.Nik Hamdan resigned.Company is in huge losses with debt burden.How the share price will increased will depends on the new management team.NH is history,.The only way is to liquidate its assets where i doubt so.2nd that best is to issue new rights issues.3rd a white knight coming in to become the largest shareholder with new project.But I guess Samling group is in a euphoria as the balance sheet is a disaster!!
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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....
Wuzy
1,579 posts
Posted by Wuzy > 2019-04-11 01:52 | Report Abuse
wait price drop till 5 cents then sapu