cliq directors is like a small kid throwing tantrums at SC cos SC reject their QA proposal. i proposed SC fine each Cliq director for delaying the liquidation process.
What Best Oracle is trying to tell the judge is that Cliq shareholders have not approved the liquidation and that the money held in trust should not be returned to the shareholders at all.
Bursa stetement..........Best Oracles sdn bhd (CLIQ) to appear at the high court hearing on 31 may 2016 with the intention to resist the petition to wind up CLIQ...
what not in directors head are if sc approved QA also, the sharehoders will rejact it at the EGM...... any way the company has to be liquidated.....SPAC already is a gone case.....shareholders want their money back.....directors and management kena cari kerja lain lah, your time at this spac is over......
Take note that Best Oracles have applied for a stay of execution of the winding up as they are appealing to the Court of Appeal. This means that the money in the trust will not be returned to the shareholders until the matter is heard by the Court of Appeal.
CLIQ directors are wasting their time and money to go to the courts. Even if SC had approved their QA, it could still be rejected by shareholders in the EGM (just like Sona). Why don't the directors just move on with their life and return back the money to shareholders. Make everyone happy in the process...
the longer the delay in returning the money to shareholders the longer the directors get paid with big fat salary (shareholders money ma). Sona is coming to that tricks as well
You can't do anything because even SC and Bursa are afraid. Nobody wants to be liquidator now because can get sued by Best Oracles. What I did was sold off all my Cliq shares at 69 sen months ago.
why is the distribution 73 sen for cliq? from what i understand, promoters cannot participate in the liquidation. so now there is 360.4 million in the trust account, 504752720 shares(this excludes those held by promoters)....so the distribution shud be 71.5 sen per share. why is it 73sen per share? where have i gone wrong?
yes there are 631009390 shares. promoters and initial investors hold 20%. which means excluding them, there are 504807512 shares....and don't we use this figure?
360.4 million / 504807512 = 71.4 sen per share.
count again guys....if this calculation is correct than no such thing as 73sen !
Do not know why they dare to ask for director's fees ? why need to pay to them ? pay for them to pay for their lawyer fees to fight for against winding up. A group of rubbish directors.
I believe from what I read in the Bursa disclosure and also the newspapers that the board consists of independent directors and the directors who are conflicted. The conflicted directors are the original promoters who have sued the SC and been frustrating the liquidation. The independent directors been doing their job for a full and quick liquidation. If you angry your money is stuck, you should target the culprits and not the entire Board.
I am confused. Who on the Board is delaying the Liquidation, and were these people penalized Who is working hard for a quick Liquidation, and were these people encouraged / rewarded ?
Very confused. Didn't shareholders vote to penalize the very same people who working hard day in and day out for a faster liquidation ? Sounds silly no ?
The shareholder can express their views in so many other ways more so a substantial shareholder like jaya kumar. He could have proposed a resolution. He didn't.
I m confused too. Perhaps you are right. The poll results just simply showed that the shareholders aren't happy with the directors' effort, not good enough.
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....
JN88
11,670 posts
Posted by JN88 > 2016-04-27 13:20 | Report Abuse
Hi want to ask CLIQ refund the money back to share holders ady? If they refund when can get the money?