upsidedown119 Look at the charts. Man can lie but not charts - OTB's million dollar advice! --------------------- thats why OTB wipe off completely now
Reference is made to our announcement dated 20 September 2018 of which the abbreviations and definitions used herein shall have the same meanings as defined in the previous announcement.
The Board of Directors of AWC wishes to update that BUCG had on 30 October 2018 filed their defence and counterclaim on QDT as follows:-
1. General damages and special damages of RM11,024,456.07 to be assessed by the Registrar of the Honourable Court upon liability being proven against the Company;
2. Costs;
3. Interest on damages allowed and costs of 5% per annum calculated from the date of filing of the counterclaim until the date of full and final settlement; and
4. Any other reliefs and orders as deemed fit by the Honourable Court.
While the BUCG’s counterclaim against QDT is not sustainable, the amount stated in the BUCG’s counterclaim against QDT is huge and if judged in his favour will adversely and materially impact AWC’s earnings per share and net asset per share at that material time.
The Company has sought its solicitor's advice on the necessary course of action to be taken in relation to the aforesaid defence and counterclaim.
The Company will make further announcements from time to time in respect of any material developments on the above matter.
The statement of defence and counterclaim dated 30 October 2018 was received by the Company in the late evening of 31 October 2018.
Technically there should be some upside next week esp after the bonus warrants are approved by Bursa. Counterclaims are a classic and common "delaying tactics" used by many parties.
Circular for warrants is out - theoretical exercise price set at RM0.83 per warrant. Slight upside for Share price the next few weeks ? Will be interesting to see the Warrant listing price end of next month.
AGM & EGM in a few hours.....bonus warrants very likely to be approved, ex date for dividends announced yday. Hopefully Qtr results do not disappoint when it is announced by this week.
No door gift ...lol...only a free mini lunch provided!!! The proposed issuance of warrant had been approved!!!expected to be credited into shareholders acc on January 2019
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....
Stock_god
2,808 posts
Posted by Stock_god > 2018-10-30 11:41 | Report Abuse
upsidedown119 Look at the charts. Man can lie but not charts - OTB's million dollar advice!
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thats why OTB wipe off completely now