@Lich, ok thanks for clarifying.. Another question, so if i were to sell my shares (bought before 22-Jan) today, i still entitled to the RI and Warrants?
@ktham...I believe you will have ORs. I think it is similar to cash dividend in that if you sell your mother share on or after ex-date, you will still get the cash dividend.
In fact, could be a smart move since the share price will tank. But most of the value will be from the selling the OR or through the subscription of new shares.
@rr88 Hoi idiot mabel. Price already adjusted lar ex everything yesterday at 12 cents.
(0.035 x 50) + (100 × 0.105) ÷ 101 = 0.12
Now its sitting on 600% bubbly bubble waiting to burst big time. Be prepared to lose yr underwear. 23/01/2020 3:13 PM
I say rr88
Like I said earlier, I have already lock my profits..
Like I said earlier, I'm prepared to take the risk as my other holdings can cover this cost..
Remember Greatec you sold at 80++
I sold my Greatec when it cross 150 and 250 to lock my profits. I'm still holding some.. waiting to cash in later on. Most likely I will cash in when Greatec is listed on the Main Board..
rr88, base on ur statement, if already adjusted. then 1 share of icon cost RM1.75, but because of right it become now 1 share RM0.715 + 100 share of right assume is RM0.005, so invest of RM1.75 get u (0.715) + (100 x 0.005) = RM1.215 (worst scenario? possible become like this? so high split)
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")
Why share consolidation - part of debt restructuring Why right issue - part of debt restructuring Debt conversion into share - part of debt restructuring Why debt restructuring - to manage the cash flow The debt stretch for another 8 yrs - means less loan obligation Cash surplus for reactivation of the vessel Bad asset to be dispossed hence better cash flow... Huge loss in 2018 due to vessels impairment which no more for 2019 onwards.. One of the main contractor for OSV in M’sia... Hows o&g market in M’sia - fluctuate but improving can c petronas market outlook for d next 3 yrs... if d price is rm0.05 today, it still worth considering better outlook in d future...
1 they want ur money 2 they will distribute some OR to u. smart businessman use other ppl money to make money. 3. the theoretical ex price of 0.12 is pumped up to 0.67 right before OR trading date. taking advantage on a few careless retailers ain't the main objective. they r attracting attention for their later plans.
Just my 2sen. Hope the worry ppl r consoled. G luck.
The ICON BOD aka conman syndicate would have cornered all the loose shares from the market since its share price collapse and entered the consolidation phase years back before they embarked on this con scheme...By looking at the price movement now, definitely strong hands are behind. In which case, price may not fall drastically until the whole scheme is done. Of course. they would prefer more supporters to come in , the more , the merrier for the party
Before u married u hav to know ur spouse, Icon shares been hammered by d downfall of o&g industry.. from 2014 until 2018... not only icon but also alam... surprisingly both still survive which most of small players sudah dlm kubur... this co has more than 20 vessels which serving petronas etc... todays market, kapal pon x cukop... just ask petronas people... they need to outsource from outside due to shortage in supply... don be surprised 2019 result much much much better than 2018... because no impairment made during d year of impairment made in 2018 more than 70mil... Equinas itself keep supporting icon for this scheme... (i heard equinas pump alot recently to support d scheme) all banks also support the scheme bcoz they can c d future of d company... d dance floor jus started, korang semue kecut batu... kikiki... just c alam share, how d price react after d scheme kicked off...
come on ICON..dont worry la..10sen-15sen..but crude brent oil diving and will test USD 60 and even USD 50..so before you start chasing..better think twice..takut takut..loss underwear..:)
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