Posted by Mabel > 2020-01-10 00:08 | Report Abuse

https://youtu.be/bzdldFOUnP0

It's time to Hoist the Colors...

Posted by matg > 2020-01-10 09:51 | Report Abuse

RI now is it good or not?

Posted by birkincollector > 2020-01-10 10:10 | Report Abuse

told u trap

Posted by matg > 2020-01-10 10:36 | Report Abuse

trojan horse wil attack from inside.. haha

Posted by meiling1990 > 2020-01-10 10:38 |

Post removed.Why?

Posted by sheep > 2020-01-10 12:06 | Report Abuse

It will be severely under subscribe.. take all you can. don't kena get con again... wakakaka

Posted by jaynetan > 2020-01-10 14:15 | Report Abuse

Undersubscribe doesn't mean price to come down.
See Perdana

Posted by CharlesT > 2020-01-10 16:10 | Report Abuse

Run for life lah...still dreaming for maybank's tp ah

Posted by CharlesT > 2020-01-10 16:11 | Report Abuse

Maybank never tell u the impact of the shares consolidation n massive rights issues ah

Posted by CharlesT > 2020-01-10 16:13 | Report Abuse

50 into 1 shares consolidation n then 100 for 1 rights issues at rm0.105

Posted by CharlesT > 2020-01-10 16:15 | Report Abuse

After reputable robbers robbed u since ipo time now they wanna encore to do it again...

Posted by CharlesT > 2020-01-10 16:59 | Report Abuse

0.045 vs 0.21...abt 400%+ capital outlay required

Posted by Masin > 2020-01-10 18:06 | Report Abuse

Willthe operator goreng before the ex date is the question

Posted by simon6969 > 2020-01-10 19:41 | Report Abuse

100张0.050过后会变多少张，会变什么价钱有人知道吗？

Posted by Mabel > 2020-01-10 21:56 | Report Abuse

KUALA LUMPUR (Jan 10): Shares in Icon Offshore Bhd fell as much as 20% in active trading this morning as soon as an earlier-called trading halt was lifted.

At 10.40 am, a total of 25.53 million shares were traded, making it the second most active counter on the local bourse, with its share price down half a sen or 10% to 4.5 sen.

Trading in the securities of Icon resumed at 10am today after a one-hour trading half was put in place, in relation to its Jan 9 announcements concerning its debt restructuring and cash call exercise.

On Jan 9, CIMB Investment Bank announced on behalf of Icon’s board that in respect of the rights issue with warrants, the board had resolved to fix the entitlement basis to be on the basis of 100 rights shares for every one Icon share held after the entitlement date of Jan 23 at 5pm, and the issue price of the rights shares at 10.5 sen apiece.

“The rights issue price represents a discount of approximately 20.6% to the theoretical ex-rights price (TERP) of Icon shares of 13.2 sen after adjusting for the share consolidation, calculated based on the five-market day volume weighted average market price (VWAMP) of Icon shares up to and including Jan 8, being the last market day immediately preceding the date of this announcement, of 5.7 sen per Icon share.

“The exercise price of the rights warrants (and hence the financiers warrants and the creditor warrants) at 16.5 sen (exercise price). The exercise price represents a premium of 25.0% to the TERP of Icon shares of 13.2 sen after adjusting for the share consolidation as described above,”

Additionally, Icon had also on Jan 9 entered into an underwriting agreement in relation to the rights issue with warrants with several financial institutions.

CIMB Investment Bank Berhad, Hong Leong Investment Bank Berhad, KAF Investment Bank Berhad and Kenanga Investment Bank Berhad will underwrite 357.14 million rights shares, representing approximately 15.2% of the total rights shares available for subscription.

“Due to the determination of the rights issue price and in respect of the issuance to the financiers and the issuance to the creditor, a total of 263.70 million new Icon shares together with 65.92 million new free detachable warrants shall be allotted and issued in a single tranche to coincide with the issuance and the listing of the rights shares and the rights warrants,” it added.

https://www.theedgemarkets.com/article/icon-offshore-active-falls-20-trading-resumes

Posted by Mabel > 2020-01-10 21:59 | Report Abuse

Let's see what they are offering us before jumping to conclusion.

If the offer is not good we don't take it ...

Serba's offer was good, so we took it...

Posted by CharlesT > 2020-01-10 22:12 | Report Abuse

Serba got rights issues ah? Dont compare apple with orange

Posted by CharlesT > 2020-01-10 22:14 | Report Abuse

Mkt cap of icon is ard rm40m..trying to raise max rm200m+ to pay partially on their rm600m+ debts...

Posted by CharlesT > 2020-01-10 22:16 | Report Abuse

But dont worry maybank gave tp rm0.16? Now 0.045 very cheap very much lower than maybank's tp...somebody's arguement lah not me...lol

Posted by FoolsGold > 2020-01-10 22:52 | Report Abuse

just realise that Mabel is an unbelievably bold & capable collector of Bursa stks.

in fact, it looks like Mabel has managed to do the impossible !

she/he has a personal mini replica of all sectors in Bursa, namely 10 stks each in O&G, Plantations, Technology,Constructions, Property , ACE Sectors. (pardon, if i missed out some)

The amazing fact is, Mabel only came back into Bursa after Ge14 last year.

Great feat , Mabel !! Congratulations !! You are the Greatest !!

Posted by Mabel > 2020-01-11 00:01 | Report Abuse

Cheers FoolsGold !

Posted by Mabel > 2020-01-11 00:15 | Report Abuse

@CharlesT But dont worry maybank gave tp rm0.16? Now 0.045 very cheap very much lower than maybank's tp...somebody's arguement lah not me...lol
10/01/2020 10:16 PM

Maybank is usually very stringent in their evaluation. Usually the share price performance tend to outperform their evaluation. This I have seen in a number of cases like Greatec, Armada and Alam just to give a few example.

Like I said don't jump into conclusion until we fully understand this latest offering by ICON. ICON is back by a very strong and powerful shareholders who has been in this business for many year.

Let's the management do what they are paid to do...

Posted by T800Terminator > 2020-01-11 00:37 | Report Abuse

0.015 is a good bargain prior x date.

Posted by CharlesT > 2020-01-11 05:57 | Report Abuse

Maybank's tp rm0.16..

Very strong n powerful shareholders of icon in biz for many years

Ipo fm rm1.60 to now rm0.045...

Lol

Posted by CharlesT > 2020-01-11 05:57 | Report Abuse

I like yr sense of humour Mabel

Posted by CharlesT > 2020-01-11 06:33 | Report Abuse

If u buy that u subscribe the rights issues loh

Posted by Mabel > 2020-01-11 07:33 | Report Abuse

I will just hold what I have. That's what I will do...

That's exactly what I did for Armada, KNM, TDM etc etc. Now I am reaping the rewards...

If you are clear with your mission and purpose of investing in this stock in the first place you should not be worried..

I suppose everyone have different views in making their respective investments. For me, it is easier if you invest on something that goes in line with the country’s direction and at the same time doing something that will benefits this Country as well as the Global community. I always has this rule of thumb when I made my investments. I do this as it will benefits the people surrounding me and also to the Global Community.

10 years from now as I look back, I want to feel that I was part of these success stories. Just to give you a flavor, here's my Business Plan for 2020 for my O&G Boutiques.

Mission and purpose

20% of government revenue in 2020
50 Billion Petronas Capex
Each US$1 per barrel increase in oil prices brings the Treasury RM300 million in revenue per year.

Cheers!

Posted by Mabel > 2020-01-11 09:19 | Report Abuse

My current average is 4.5 cents..

If by subscribing how does it work out with this latest announcement?

Quote

On Jan 9, CIMB Investment Bank announced on behalf of Icon’s board that in respect of the rights issue with warrants, the board had resolved to fix the entitlement basis to be on the basis of 100 rights shares for every one Icon share held after the entitlement date of Jan 23 at 5pm, and the issue price of the rights shares at 10.5 sen apiece.

“The rights issue price represents a discount of approximately 20.6% to the theoretical ex-rights price (TERP) of Icon shares of 13.2 sen after adjusting for the share consolidation, calculated based on the five-market day volume weighted average market price (VWAMP) of Icon shares up to and including Jan 8, being the last market day immediately preceding the date of this announcement, of 5.7 sen per Icon share.

“The exercise price of the rights warrants (and hence the financiers warrants and the creditor warrants) at 16.5 sen (exercise price). The exercise price represents a premium of 25.0% to the TERP of Icon shares of 13.2 sen after adjusting for the share consolidation as described above,”

Unquote

Cheers!

Posted by Mabel > 2020-01-11 11:29 | Report Abuse

Does anyone knows the timeline for us to decide on this.?

Posted by Mabel > 2020-01-11 11:32 | Report Abuse

@monetary

Ur consolidated share is 2.5 assuming u bought at 5c. Now they offer 0.105 for rcps. Great dilution if u don't subscribe. That's the reason they don't do 2:1. Those who bought 5c won't fork out 0.105 to subscribe.
11/01/2020 8:53 AM

Can you share how you calculate this?

Posted by 500Bilis > 2020-01-11 11:44 | Report Abuse

Mable

2.50 is the price after share consol. Ie 0.05 x 50. Share qty reduced by 50. Ie if 500,000 shares, after consol it bcomes 10,000 shares at 2.50. 500k shares bcome 10k is great dilution if dont take up RI.

If were to take up, 10k x 100 RI = 1 mil shares x 10.5 sen, forking out RM105k.


Cheers

Posted by 500Bilis > 2020-01-11 12:41 | Report Abuse

Apparently the ex right price is 13.2 sen after consolidation.


“The rights issue price represents a discount of approximately 20.6% to the theoretical ex-rights price (TERP) of Icon shares of 13.2 sen after adjusting for the share consolidation, calculated based on the five-market day volume weighted average market price (VWAMP) of Icon shares up to and including Jan 8, being the last market day immediately preceding the date of this announcement, of 5.7 sen per Icon share.

Posted by 500Bilis > 2020-01-11 15:09 | Report Abuse

Major shareholders wont be exempted. Corporate exercise applies to all shareholders ie major or minor across the board

Posted by jaynetan > 2020-01-11 15:33 | Report Abuse

Consult Your remisiers, alert, must be Experience n Really updated n upgraded professional remisiers. Not all remisiers or dealers.

Many comments n informations here are Incorrect.

Posted by 500Bilis > 2020-01-11 18:26 | Report Abuse

Hi Monetary

Exemption in Dec 13 announcement refer to exemption from mandatory take over under para 4.08(1)(B).

In Nov last year, Ekuinas has already committed to subscribe for the exercise for RM183 million.

Posted by Mabel > 2020-01-11 23:40 | Report Abuse

Noted and thanks Guys...


[ICON] Rights Issue on 09-Jan-2020

Stock [ICON]: ICON OFFSHORE BHD
Announcement Date 09-Jan-2020
Financial Year
Subject Rights Issue
Type Right Issue

Description Renounceable rights issue of up to 2,354,370,200 new ordinary shares in Icon Offshore Berhad ("Icon") ("Rights Shares") on the basis of 100 Rights Shares for every 1 ordinary share in Icon held after the share consolidation, together with up to 588,592,550 free detachable warrants ("Rights Warrants") on the basis of 1 Rights Warrant for every 4 Rights Shares subscribed for, as at 5.00 p.m. on Thursday, 23 January 2020 at an issue price of RM0.105 per Rights Share ("Rights Issue with Warrants")

Amount 100.0000 : 1.0000
Ex Date 22-Jan-2020
Entitlement Date 23-Jan-2020

Looks like we also have free warrant too...

Posted by Mabel > 2020-01-12 11:11 | Report Abuse

Thanks a million for sharing your thoughts. Let's cross the bridge when we comes to it. If I have to put in more money, so be it...

https://www.youtube.com/watch?v=QHmKVEG5nW4

At this moment I'm feeling really upbeat about 2020. It’s all about Teamwork, the rest is Technology.

Meow!

Posted by FoolsGold > 2020-01-12 12:45 | Report Abuse

@Mabel just love your winning attitude ! money is not an issue for you, if have to put in more money, so be it ,
thks ! for great investing style !


Posted by Mabel > Jan 12, 2020 11:11 AM | Report Abuse

Thanks a million for sharing your thoughts. Let's cross the bridge when we comes to it. If I have to put in more money, so be it...

https://www.youtube.com/watch?v=QHmKVEG5nW4

At this moment I'm feeling really upbeat about 2020. It’s all about Teamwork, the rest is Technology.

Meow!

Posted by Mabel > 2020-01-12 17:17 | Report Abuse

2 weeks to CNY, Angpow Angpow mari !

Posted by tkl88 > 2020-01-13 09:34 | Report Abuse

Description Renounceable rights issue of up to 2,354,370,200 new ordinary shares in Icon Offshore Berhad ("Icon") ("Rights Shares") on the basis of 100 Rights Shares for every 1 ordinary share in Icon held after the share consolidation, together with up to 588,592,550 free detachable warrants ("Rights Warrants") on the basis of 1 Rights Warrant for every 4 Rights Shares subscribed for, as at 5.00 p.m. on Thursday, 23 January 2020 at an issue price of RM0.105 per Rights Share ("Rights Issue with Warrants")

Amount 100.0000 : 1.0000
Ex Date 22-Jan-2020
Entitlement Date 23-Jan-2020

Posted by tkl88 > 2020-01-13 09:37 | Report Abuse

Mabel, let say i got 1,000,000 (One million shares) of ICON,
What will happend to my shares ?
I don't understand the annoucement in Bursa company annoucement on ICON ...

Posted by monetary > 2020-01-13 12:33 | Report Abuse

Ur facts r correct but ur conclusion is wrong. I deleted all my posts after talking to my remisier.

Posted by IIImNoob > 2020-01-13 12:48 | Report Abuse

Thanks monetary for your comments.... I will amend the post without any conclusion as well then as it's never my intention to mislead anyone and I'm for sure not an expert in this ….
And it would be very kind if you could share the info you have too …

Posted by IIImNoob > 2020-01-13 12:50 | Report Abuse

Updated by removing conclusion....

Hi All,

Given the confusing corporate exercise of ICON, may I kindly share my thoughts.

Assuming now, I have 1,000,000 ICON shares. These will be consolidated first with the ratio of 50:1 which means that 1,000,000/50 = 20,000 shares. And of course by theory the price will also be increased by a similar ratio if we take the price of today 0.04*50=RM2.

Then the second part regarding the Rights Issue which is based on the consolidated shares. You will be given the option to subscribe to the RI at a ratio of 100:1, which means that from the 20,000 shares you have now, if you choose to fully subscribe the RI , this would result in final total shares of 20,000 + ( 20,000*100 = 2,000,000 ) = 2,020,000 shares + free warrants. This would cost you 0.105*2,000,000 = RM210,000
However, the price now wont remain at RM2 ( consolidated price ) anymore due to the massive amount of new shares via the RI. It will then be diluted to 0.132 which is the TERP ( Theoretical Ex Rights Price ) given by the bankers. This TERP of 0.132 is based on 5 days VWMAP before the announcement of 0.057.

Posted by monetary > 2020-01-13 12:52 | Report Abuse

there's reason why no one dumping. sorry. m not sharing my lifejacket with u. consult remisier.

Posted by kabukiman > 2020-01-13 14:14 | Report Abuse

holding icon avg price 19 sen.

bought into icon on the downhill ride.

assumed the risk of icon being in trouble, but never would it cross my mind being screwed by a 100 to 1 rights call.


fuck.

Posted by SirLockCro > 2020-01-13 15:05 | Report Abuse

Just see the crowd.... If people don't sell... Just stay put..... If people start selling, 5hen better run away....

Posted by CharlesT > 2020-01-13 15:11 | Report Abuse

How many afford n willing to put in extra 400% funds for the rights issues?

If not then there will huge selling pressure on PR

Posted by monetary > 2020-01-13 17:32 | Report Abuse

move on. u don't have to badmouth icon everyday just bcoz u lost $ in icon.

Posted by matg > 2020-01-13 17:50 | Report Abuse

i think can buy and keep this penny 0.045 for another year