Date of change 31 May 2022 Name DATO' SERI ABDUL AZIM BIN MOHD ZABIDI Age 62 Gender Male Nationality Malaysia Type of change Resignation Designation Member of Audit Committee Directorate Non Independent and Non Executive Composition of Audit Committee (Name and Directorate of members after change) Hew Tze Kok - Independent Non-Executive Director (Chairman) Andy Liew Hock Sim - Independent Non-Executive Director (Member) Karina Binti Idris Ahmad Shah - Independent Non-Executive Director (Member)
Remarks : The change in the composition of the Audit Committee is in compliance with Practice 1.4 of the Malaysian Code on Corporate Governance 2021, i.e. the Chairman of the Board should not be a member of the Audit Committee, Nomination Committee or Remuneration Committee.
Announcement Info Company Name XOX BHD Stock Name XOX Date Announced 31 May 2022 Category Change in Audit Committee Reference Number C02-27052022-00007
The Board of Directors of XOX Bhd (“XOX” or “the Company”) wishes to announce that XOX (Hong Kong) Limited, (“XOX HK” or “the Purchaser”), a wholly-owned subsidiary of the Company, had on 12 July 2022 entered into a Share Sale Agreement (“SSA/the Agreement”) with Muar Ban Lee Group Berhad (“the Seller”) for the proposed acquisition of 2 ordinary shares (“Sale Shares”) in Theron Holdings Sdn. Bhd. (“Theron”), representing 100% of the total issued and paid up share capital of Theron, for a total a total purchase consideration of RM19,254,590.00 only (“Purchase Consideration”) (“Proposed Acquisition”).
Further details of the Proposed Acquisition are set out in the attachment herein.
We refer to your Company’s announcement dated 12 July 2022, in respect of the aforesaid matter. In this connection, kindly furnish Bursa Securities with the following additional information for public release:- 1) To state the source(s) of funding of XOX HK and/or XOX Bhd, and the breakdown thereof, for redemption of the RHB Facility of RM49,416,000.68 and repayment of Theron’s outstanding debts of RM44,318,000.00. To also reconcile with the disclosure in Section 6 of the announcement dated 12 July 2022. 2) The justification for the purchase consideration of RM19,254,590. Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.
KUALA LUMPUR: XOX Bhd has proposed to acquire two ordinary shares in Theron Holdings Sdn Bhd, representing 100% of the total issued and paid-up share capital of Theron for RM19.25mil. In a filing with Bursa Malaysia, XOX said its wholly-owned subsidiary, XOX (Hong Kong) Limited (XOX HK) had entered into a share sale agreement with Muar Ban Lee Group Bhd for the proposed acquisition.
Theron is a special purpose vehicle incorporated by Muar Ban Lee for the purpose of acquiring and holding the shares in Symphony Life Bhd As of the date of this announcement, Theron is holding 98.09 million shares in Symphony, representing 13.7% of the total issued and paid-up share capital of Symphony.
Symphony is principally engaged in the business of property development and property investment. XOX said its board has deliberated the opportunity and found the proposed acquisition to be synergistic. “In an effort to streamline XOX’s capital management, the management has deliberated various strategies which include shares buy back and placement of excess cash in high yielding funds.
“The proposed acquisition is part of XOX’s strategy to maximise return on its excess fund, which will ultimately benefit its shareholders,” it said. In addition, XOX said Symphony is currently trading at the lower end of its range of intrinsic value. Hence there is a potential of immediate capital appreciation for the proposed acquisition in the event of any correction to Symphony’s current depressed share price.
KUALA LUMPUR (July 12): Muar Ban Lee Group Bhd (MBL) is exiting its investment in property firm Symphony Life Bhd, whose share price has fallen 46% since MBL bought into it. MBL, a specialist in palm oil machinery and oil seed crushing machinery, announced that it is selling its wholly-owned unit, Theron Holdings Sdn Bhd, that owns a 13.7% stake in Symphony Life to XOX Bhd for RM19.25 million cash. Based on Tuesday's closing share price of 45 sen, the 13.7% stake is worth RM44.14 million. According to MBL's filing with Bursa Malaysia, XOX is obliged to provide "evidence that all outstanding debts owed by Theron to MBL as at the completion date [of the acquisition] have been paid and settled". The outstanding debt amounted to RM46.32 million — advances that MBL has given to Theron for the purchase of Symphony Life shares.
Theron also borrowed RM47.55 million from RHB Bank Bhd to invest in Symphony Life shares via a term loan. Theron is a special purpose vehicle incorporated for the purpose of acquiring and holding shares in Symphony Life. It accumulated 98.09 million Symphony Life shares from April 2 last year to March 9 this year at a total cost of RM90.26 million, said MBL. Theron bought a large bulk of its stake in Symphony Life from the company's former executive chairman Tan Sri Mohamed Azman Yahya, who founded the property firm. MBL noted that the transaction, which it expects to be completed in the third quarter of this year, would result in RM48.89 million disposal gain. The disposal gain includes the effects from deconsolidation of Theron's net liabilities amounting to RM37.59 million, as well as share of results from Symphony Life for financial years 2021 and 2022. The proposed disposal allows MBL to deconsolidate a term loan from RHB Bank amounting to RM47.55 million as at end-June, while also recoup advances MBL provided to Theron amounting to RM46.32 million, the group said. MBL would utilise RM19.25 million proceeds from the disposal mainly for working capital. In a separate filing, XOX said the acquisition, which will be funded by its internally generated funds, is "synergistic" due to prospects of the property market's recovery this year and potential upside to Symphony Life's share price. Shares of MBL closed unchanged at 35.5 sen, giving it a market capitalisation of RM88.26 million, while XOX fell 0.5 sen or 25% to 1.5 sen, valuing the company at RM75.76 million. Symphony Life, meanwhile, closed 0.5 sen or 1.12% higher at 45 sen, with a market capitalisation of RM322.4 million. S Kanagaraju & Kathy Fong
Walaoeh, XOX bought 13.7% into the main board multinasional company of Property development, property management, investment holding, quarrying, construction company => Symphony Life Berhad for a super discount price of just RM19.25mil only ! Based on Tuesday’s closing price of 45 cents, the 13.7 % stake should worth RM44.14 million. It means that XOX’s buying price for this 13.7% stake in Symphony is => 19.25/44.14*0.45 = 0.195
Wow, dirt cheap, it’s a value buy on a GEM’s stock ! Well done XOX !
Like that next Monday XOX definitely will be limit up to closed at => 0.32 (+0.30) (+1,500%) already liao lah !
================= More than 6.7 BILLION shares, PA and warrants combined Too heavy for price to move up high
================== Directors might continue to raise fund via share issuance to ESOS and PP NOSH might continue rise, further diluting your shareholdings equity % and EPS
Loss making in most of last 10 years !!! Directors continue to receive salaries & payments
======================= Be careful trading loss making penny stocks that has huge NOSH (BILLION SHARES) Directors have power to propose shares consolidation and raise more fund via rights issue with free warrants
===================== Continue to monitor quarterly results directors plan for utilisation of company funds directors plan for more fund raising via shares issuance
stay away from eddy chai company,.......you can see that they keep sucking out xox cash,........dumping their share to you,........even sell xox to you for half sen,........to them they lose nothing,......... pretty soon ,they will call for share consolidation,.......just look at what has happened in lambo, vsolar & many more,.......don`t let them fool you
xox will keep issuing new share at 10% below market price,........dumping the new share to you even at half sen,..........to them it is profitable,........they are holding the cash in xox,........they will suck out the cash in xox ,.........until xox become` tin kosong` again,......
after that,......they will call for shares consolidation,......10 to 1,.........20 to 1,.......or more,.....
then,.....right issue 5 for1,......10 for 1,........
don`t be fool by fintech crooks,.......what they are doing is to suck money from capital market,.......just look at what has happened in vsolar, sanichi, lambo,.......real sad story!
XOX BHD Description: XOX BHD ("XOX" OR "COMPANY") PROPOSED PRIVATE PLACEMENT OF NEW ORDINARY SHARES IN XOX ("XOX SHARES" OR "SHARES") ("PLACEMENT SHARES"), REPRESENTING NOT MORE THAN 10% OF THE TOTAL NUMBER OF ISSUED SHARES OF THE COMPANY (EXCLUDING TREASURY SHARES, IF ANY) ("PROPOSED PRIVATE PLACEMENT")
KUALA LUMPUR (July 26): ACE Market-listed XOX Bhd plans to undertake a private placement exercise to raise RM9.95 million to develop a digital media management application. In a filing on Tuesday (July 26), the mobile services provider noted that while it obtained shareholders’ approval to issue up to 717.31 million shares — or 10% of its issued share capital — it has opted to only issue up to 552.86 million shares for the placement exercise. At an illustrative price of 1.8 sen apiece, which represents a discount of approximately 6.25% to the five-day volume-weighted average market price (VWAP) of XOX shares up to and including July 25, 2022 (LPD), the group expects to raise up to RM9.95 million from the placement exercise……
KUALA LUMPUR (July 26): Here is a brief look at some corporate announcements and news flow on Tuesday (July 26), which include Kossan Rubber Industries Bhd, Tasco Bhd, CTOS Digital Bhd, MHC Plantations Bhd, Globetronics Technology Bhd, NWP Holdings Bhd, Toyo Ventures Holdings Bhd, Techna-X Bhd, XOX Bhd, Pasukhas Group Bhd, PPB Group Bhd, Eastland Equity Bhd, UMediC Group Bhd (UMC), Sapura Industrial Bhd, MJ Caely Holdings Bhd and Astral Asia Bhd….
xox have money to pay rm110mil. for 98mil shares in symfony, a property developer,.......but no money to pay for digital media app business,.........need to do private placement again,.......do you think they will do the digital media app ? ,......or just a gimmick to raise fund again,.......look at the past,......xox raised fund to do micro financing business & many more,......nothing happen,......you only see them buying inflated sharse of xox net, cheetah, jadi, symfony
doomed day is on xox,........company want to issue 500mil. new shares at the price lower than 2sen per share,......what the shareholders get are only dilution,........they will keep doing this kind of things to fxck you out,.......the won`t buy any xox share in open market,.......but they will keep dumping it until half sen,.......in the mean time, sucking the company cash out until empty can ,............& then call for share consolidation ,........really big one, 20 to 1,...30 to 1 or more,......follow by right issue 5 for 1,......10 for 1
you have no way out, except selling at big loses,.......i don`t think you will buy the right issue as well,.........they will buy out all your right shares,.........& repeat the same thing all over again ,.........
There is also the possibility shares in the state-owned 5G agency would be offered to foreign MNOs. "The option to offer equity shareholdings to foreign MNOs is also there because various foreign MNOs have expressed their desire to contribute to the local 5G network development.
"The government's policy is to prioritise domestic MNOs, but it does not rule out the possibility of offering the remaining shares that can be subscribed in DNB to foreign MNOs," he told Bernama.
XOX BHD ("XOX" OR "COMPANY") PROPOSED PRIVATE PLACEMENT OF NEW ORDINARY SHARES IN XOX ("XOX SHARES" OR "SHARES") ("PLACEMENT SHARES"), REPRESENTING NOT MORE THAN 10% OF THE TOTAL NUMBER OF ISSUED SHARES OF THE COMPANY (EXCLUDING TREASURY SHARES, IF ANY) ("PROPOSED PRIVATE PLACEMENT") This announcement is dated 26 July 2022.
============= No. of issued Shares as at LPD 5,050,830,575 To be issued assuming full conversion of the ICPS 77,971,406 To be issued assuming full exercise of Warrants B 231,832,876 To be issued assuming full exercise of Warrants C 1,412,612,765 To be issued assuming full granting and/or exercise of ESOS Options 399,821,100 After full granting and/or exercise of the Convertible Securities 7,173,068,722 To be issued pursuant to the Proposed Private Placement 717,306,800
Minimum scenario = 505,083,057 shares will be issued assuming no conversion of warrants and ICPS
=========== Massive fund raising Massive dilution of shareholders equity % and EPS NOSH continue to increase towards 6 BILLION shares
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....