Type Announcement Subject PUBLIC SHAREHOLDINGS SPREAD Description NON-COMPLIANCE WITH PUBLIC SHAREHOLDING SPREAD PURSUANT TO PARAGRAPH 8.02(1) OF THE MAIN MARKET LISTING REQUIREMENTS We refer to the announcements dated 5 February 2021 and 16 March 2021 in relation to FGV Holdings Berhad’s (“FGV” or “Company”) non-compliance with the public shareholding spread requirement pursuant to Paragraph 8.02(1) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”) (“Public Spread Requirement”).
The Board of Directors of the Company wishes to announce that Bursa Securities, had vide its letter dated 23 March 2021, granted the Company an extension of time of six months until 3 August 2021 to comply with the Public Spread Requirement.
As at 19 March 2021, the Company's public shareholding spread was 13.99%. The shortfall in the public shareholding spread of the Company arose as a direct consequence of the unconditional mandatory takeover offer by Federal Land Development Authority (“FELDA”) which had closed on 15 March 2021.
The Company will use the extension of time granted by Bursa Securities to formulate a rectification plan to address the shortfall in its public shareholding spread and to allow sufficient time for FELDA to formulate a firm plan on FGV’s listing status.
FGV will make the necessary announcement in relation to the status of compliance of the Company’s public shareholding spread accordingly.
Tell you Calvin 's experience during Supermax Superbull time last year
I first bought Supermax in April 2020 for Rm1.73 (I missed buying Supermax at Rm1.30 in March 2020 as there was lock down from March 18)
After Supermax crossed Rm2.00 I thought Supermax should reach Rm3 and split as usual from past year's experience
So when it reached Rm3.00 I thought quite high already but many many people turned so bullish in Supermax then
So I posted new target for Supermax at Rm4.00
But many were unhappy as they thought Rm4.00 target too low
So I raised Target price for Supermax to a new high of Rm5.00 which was quickly reached in the 3rd strong Eliot wave which is the longest middle finger
Then I raised Target price to Rm6.00 and finally all kept quiet about my target price
But what an amazing Surprise it was when I saw Supermax gathered Super Strength and Zooooomed to Rm24.44
Then split by one for one bonus
So Rm2 target by August for Fgv might seem high
Let us SEE in August 2021 how high and how far Fgv will reach
For that we happily wait
One in a century bull run for medical gloves now history
Any possibility FELDA press down the price by selling some of its shareholding and came back 6 mths later will similar 1.30 price or lower, depending on VWAP?
felda have to sell back some fgv shares. definitely there will be down pressure. felda wont pick at 1.30 anymore. rm 1.00 is possible. get ready for cheap sale. i'll buy again and keep for high dividend. that fo sure
Felda also stated they will not do anything till after August 3
So there will be a freeze just like in TA Enterprise
only after 6 months I think TA revised Takeover at a higher price. People are willing to let go at higher price to TA because it's TAGB was suffering losses
No way people will agree if Fgv offer an unfair price since MSM Sugar in bull run plus both Rubber and Cpo are now very hot commodities
many did not believe that takeover bid will not materialized. when my remiser told me to sell at 1.30. i told her that i will wait because i'm holding the shares from ipo 10 @ 4.55. i averege down another 10 @ 2.25 three years ago. i took my chance and narrow my losses through the dividend rm 600 and a slight capital appreciation. i hope the counter will move north to save the genuine investors who are holding the shares for so long. at the same time i pray the mighty god will punish those misappropriated the fgv's money.
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....
Mabel
24,511 posts
Posted by Mabel > 2021-03-24 13:09 | Report Abuse
It's all about teamworks Calvin, the rest is technology...
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