Datuk Karim sold all his warrants with the intention of utilizing all that money to buy more mother shares. If he really means that, I guess Thursday will be the soonest you can expect for an announcement to be made in this regard.
On top of that, SIR from EY is also due by next Friday.
Other than that, if you're holding SD shares, there's nothing much you can do except praying to God and hoping for the best.
I dun think karim tired to sell all his mother shares. Because the number of shares is a lot and we did not see such a big sell queue. Highly likely another director tried to sell of all his warrants which lead to Suspension
Based on this, pursuant to paragraph 16.02(1)(c) of the Main Market Listing Requirements, in the interest of maintaining an orderly and fair market in the trading of its securities, SD is suspended.
[Section 188 of the CMSA]
3. INSIDER TRADING
3.1 Meaning of Insider
A director is considered an ‘insider’ pursuant to Section 188(1) of the CMSA, if he/she –
(a) is in possession of price-sensitive information which is not generally available; and (b) knows or ought reasonably to know that the information is not generally available.
3.2 Prohibition from Trading
All directors should take note of the prohibition on insider trading set out in the Part V Subdivision 2 of the CMSA with regards to dealing in securities whilst in possession of price-sensitive information.
Pursuant to Section 188(2) of the CMSA, directors are prohibited from trading either by themselves or through an agent while in possession of unpublished price-sensitive information. The prohibition is as follows:-
An insider shall not, whether as principal or agent, in respect of any securities relating to unpublished price-sensitive information –
(a) acquire or dispose of, or enter into an agreement for or with a view to acquisition or disposal of such securities; or (b) procure, directly or indirectly, an acquisition or disposal of, or the entering into an agreement for or with a view to the acquisition or disposal of such securities.
3.3 Prohibited to Communicate
Pursuant to Section 188(3) of the CMSA, the insider is prohibited to directly or indirectly communicate, or cause such price-sensitive information to be communicated, to another person, if the insider knows, or ought reasonably to know, that the other person would or would tend to –
(a) acquire, dispose of, or enter into an agreement with a view to acquisition or disposal of, any securities which is unpublished price-sensitive information; or (b) procure a third person to acquire, dispose of or enter into an agreement with a view to the acquisition or disposal of, any securities which is unpublished price-sensitive information. .
I think for those who has bought should safe and secure now and have a good sleep everyday coz now suspended maybe like HlCap suspended 5 years like that, so u no need worry ur counter will be press til 0.1 below.
Lolz another crap. It did not say that due to insider trading bursa will halt the trading. Hahaha lolzzzzz
ǷearlꙌhite . By saying he use WA proceeds to buy mother share, is in violation of 3.2 and 3.3. Indirect communication to ask people to buy SD mother share.
Bursa will not suspend trading to prevent Shareholders from disposal..nor to preserve counter price. how many times it limit down, and other counters too.
maintaining counter price not Bursa responsibility la...but if insider is involved in internal trading which spike the prices, then it is Bursa responsibility to ensure fairness...not had to think right
Pearl White had logical senses this time. And Bursa already has the SIR from EY. pak needs to announce the EY report before teading can resume and this weekends definitely we Re going to harveat
Pearlwhite, if what you mentioned is true, then this suspension should will drag until SIR report release then only re-open back, to prevent ppl highjack this mother share...
Serba Dinamik Holdings Bhd group managing director and chief executive officer Datuk Mohd Abdul Karim Abdullah has disposed of his entire holding of 55.9m of the group’s warrants this week. He sold 21.6m warrants on 18th October 2021, another 34.2m warrants on 20th October 2021, and a further 123,600 warrants on 21st October 2021. Together, the warrants disposed of represent about 6.3% of the group’s total warrants. (The Edge)
Yes , that's why I said before karim not allow to sell mother shares...
wongchin Karim dump mother share can be charge as insider trading la. Sell wa not an offence. Sc suspend sd also reason given. Js read carefully the reason.
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Kensington
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Posted by Kensington > 2021-10-22 16:59 | Report Abuse
Bursa suspends trading of Co and its warrants w.e.f. Friday afternoon until further notice.