Still holding tight have high confidence with this counter with the anticipation board of directors will speed up to materialise corporate exercise of bonus, share split and free warrant as announced back in May this year. My advice to board of directors please solve your internal problem as fast as possible for the sake of the co and shareholders
We refer to the announcements dated 15 May 2014, 2 July 2014 and 17 July 2014 in relation to the Proposals ("Announcements"). Unless otherwise defined, the abbreviations used throughout this announcement are the same as those previously defined in the Announcements.
The Board of Directors of Lysaght (“Board”) wishes to announce that the Company is not able to meet the given timeframe for the submission of the Company’s draft circular and documents to Bursa Securities pertaining to the Proposals as a Director's declaration from a newly appointed director, appointed on 30 September 2014, is still pending as at 14 October 2014.
An application has been submitted to Bursa Securities on 13 October 2014 for a further extension of time of up to 31 October 2014 for the submission to Bursa Securities of the Company's draft circular and documents pertaining to the Proposals. The application is currently pending Bursa Securities’ approval.
The Board also wishes to announce that it had on the evening of 13 October 2014, received a letter from Lysaght (Malaysia) Sdn. Bhd. (“LMSB”), informing Lysaght that a corporate representative of LMSB, has been authorised and directed by LMSB to vote against any resolutions, whether with or without amendments, in relation to the Proposals.
The Board will meet to deliberate on the above and the next course of action to be taken and a further announcement will be made in due course.
Dear MANAGEMENT....sad to hear that the deal is aborted. Please consider a special dividend for us....the poor minority share holders !!!.......or shall I deliver this message to Dear GOD ????.....or Dear GOD....please tell the management NOT to abort the deal !!!
Well, maybe need to be faithful to the company, keep the shares I have for another year and wait for it to flower n bear fruits !!!!
Such a terrible board of directors and major shareholders. Perhaps security commission will do something to reprimant such co with bad corporate governance. No longer interested to keep this share will dump all. Lost 150k!!!!. Go to hell directors and major shareholders.!!!!!!
Life must go on. Will never trust anybody in this boleh land.Better park our money in co with high integrity and transparency. Pray Lysaght to be loss making company in years to come.God will listen prayer from those being cheated.
Actively participated in share trading since 1996. This is my second time been penalised with heavy losses apart from financial crisis 1998.Lysaght better change your name to Lanch..!!!!!
The directors have taken investors for a ride. Bursa should reprimand this irresponsible behaviour of the directors. After final decision, then only they should submit to authorities for approval.
Right! if the board doesn't agree they shouldn't submit for approval ...if proposed and submitted, the board is deemed agreed .... cannot play play like this!
Correction !!! Its a good company. Capable of giving bonus...cash rich !!!about 41 million shares oni.... Well Rule No. 1. : The boss is always correct Rule No 2. : If the boss is wrong, refer to Rule No 1 ?????
corporate exercise of bonus, share split and free warrant .. abort .. but the fundamental of the company no change ma .. around this price just buy la .... kikikikikiiiiiiiiiiiiiiiiiiiii .... m in again today :)
We are all at fault. Did not attend AGM !!! And allow things to just happen. We should vote for the bonus and warrant. ...should not have voted for directors who are against the proposal !!!!
Hope the directors can explain why proposal is aborted....
There are a lot of opportunity out there. Perhaps can recover losses from other counters.Let it be a lesson to us. Will never touch this counter again.Enough is enough.
United engineers limited, chew bros(m) sdn bhd,tan Sri Abdul rashid bin Abdul manaf,bina securities & management sdn bhd,wtwt sdn.bhd,faroy sdn bhd,Abu Zakaria bin Abu bakar,george Anthony dass David, and the administrator of Pusan Sri zaiton bet Abu bakar are lysaght malaysia shareholders.are all d shareholders voting against d proposal??????who are voting against d proposal??????? Why they vote for d bonuses issue in 2002???but now they against,yay?????
Lim Fong Boon, Lum Tak@Lim Meng Teck, Cheam Low Soo & Kho Tee Keow may provide the clue to the principal protagonist to the abortment of the corporate exercise! Within two weeks of the new director voted in on Sept 30 2014 the corporate bomb was detonated! Coincidence or intentional? Who profited from this share price collapse? SC must investigate and severely punish illegal profiteers!
LGS share holders' option now is to seek a "special dividend" as compensatory relief from new company secretary sharonwong@shareworks.com.my!
Spot on Vegerambut! You have nailed the target! The Chairman of Lysaght Malaysia Sdn Bhd Board must explain why bonus issue is bad for LGS share holders contradicting their previous strong support for it in 2002! Any hidden agenda and abominable motives? Many share holders losted much money including me! Where and how to seek grievance? Maybe the new LGS director who came in on Sept 30 2014 can tell us how?
1/7/14 : Lysaght names Cheam Low Soo as new director !!! Bonus and warrants.....why no good? When the company makes money, they should reward all the loyal minority share holders!!! We become rich by helping others to be rich !!!
Diamond7, refer lysaght announcement on 16 jun cheam low soo was nominate by mr koh tee Kiow for election to the office of director of lgs at d agm.how come a nomination from minority shareholder can be voted in ?????encik Yusuf who had been served as the director since 4 April 2002 was voted out!!! Yyyy???what are d connection between Cheam low soo and koh tee Kiow???d 30september egm was called by lim fong boon and lim Meng teck ,according to sources cheam low soo was the only director from lgs board attend d meeting.are cheam low soo, koh tee Kiow,lim fong boon and lim Meng teck connected???who are them?? Surprisingly refer to the 14 October announcement lysaght was unable to submit its draft circular & documents on a proposed corporate exercise to the regulator because a declaration from a director appointed on sept 30 was still pending as at October 14!!! Almost 2 weeks times also can not sign d director declaration form!!!!yyyyy????
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 2938 views | 2 d ago
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New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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....
maxlim
322 posts
Posted by maxlim > 2014-07-21 19:33 | Report Abuse
News came out but still dropping.... Any body know why?