eagertolearnWell what a mess. As they point out in their booklet...

eagertolearn

Well what a mess. As they point out in their booklet the options out there of $0.05, $0.30, $0.40 are more than likely to expire.
The latest announcement from the coy on the cost of the Takeover panel applications that the coy might not be able to remain a going concern without alternative funding, even with a cash at bank of $1.04m.
How do we get to a situation like this. If they wanted to do the rights issue , the logical way is to pump the sp months before & then offer a discount, You can't offer a rights at the bottom price. There won't be any takers. If Tan Sri Abdul Sahib Mohamed is willing to underwrite this surely he has the connection & knowledge of how to pump the sp (legal or not - happens all the time in Malaysia) to enable a reasonable rights participation.
I am not sure how they are going to raise the necessary funds. A bit late now. That is why our Board of Directors are paid top dollars to make the necessary planning & decisions in running the coy (including capital rasing). Might end up winding up.