SCIB proposed bonus issue of 3 bonus shares for 1 existing share, with 1 free warrants for every 2 shares held after the bonus issue. So that means if you have 1 SCIB share now, after the exercise you will have 4 SCIB shares and 2 SCIB warrants.
When Datuk Abdul Karim mentioned that SCIB planned to achieve market cap of RM1 billion in 2 years time, its share price must reach above RM8.
With outstanding shares of 490mil after this bonus issue, its share price only need to reach RM2.04 to achieve RM1 billion market cap.
I think Karim sell his share to buy Serbadk. Same thing happened the other day when he sold SCIB to buy Serbadk. I didn't read of any fine for delay in their projects but there is a claim for a share sale agreement for RM9.5 million by SCIB but this has been on going since 2018 so would have been factored in
@Bursa Insight, thank you very much my friend. It is your article back in July that led me into SCIB and Kpower. I owe it to you big time. keep up with your great insights and do share your new finds!
i listened to the whole EGM and i did not catch any mention about rights issue? but i wonder, @AnsonLiew you keep barking sell why did u watch the whole EGM again?
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....
yongleecheng
133 posts
Posted by yongleecheng > 2020-11-15 22:28 | Report Abuse
RM 8
1 BILLION CAPITAL