Reach Energy: Completes debt settlement exercise, to see Super Racer emerge as major shareholder. Hong Kong-based Super Racer Ltd (SRL) is to emerge as the new major shareholder of Reach Energy with a 48.5% stake after the oil and gas (O&G) exploration and production (E&P) company completed its debt settlement exercise. This came after the listing of 1.03bn shares in Reach Energy slated for SRL at 20 sen apiece, as part of the company’s debt settlement exercise to settle RM206.51m or 76% of the debt it owes to SRL. (The Edge)
@TheContrarian... just to pick your brain.. if the Hongkie shareholder cost is 20 sen... his profit how much? if say 50%, then mathematically his target price is 30 sen or above no??? What do you think sifu?
Reach getting 20 m loan again to fund working capital....later get another 20m again and again till owning the HK guys 100m to 200m again. aiyo by that time debt settlement issue share at 5 cents for 4 billions shares ?
go report MACC la , all the deals got issue one. issued 1B share and now comp go in PN 17. what type of company management skill ? also now loan 20 m plus from the HK guy again
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....
Nickhii90
61 posts
Posted by Nickhii90 > 2023-03-30 16:41 | Report Abuse
wao...