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I would like to congratulate the operator on his huge winnings! Super Huat!! He create new shares at 57 cents then push up share price above 70cents to sell to dumb ikan bilis! good job!
I am an accountant, based on XL company's proposal on 1/7 and 11/8, it stated the RCN of RM 200 million can only convert maximum of 191 million shares. I believe the smarter investors who knows how to do basic calculation the RCN conversion price should be $1.047.
Just that the RCN announcements on 1/10 and 12/10 shows RCN conversion price at 0.6027 and 0.5373.
I believe the cash balance of 1.047 is still exist, just that company didn't make announcement on it.
hello failed accountant. any notes not converted is returned to cash. so your RCN conversion price is still the stated price of 53cents and 60cents. No change.
previously XL only had 100m shares. now the notes can issue 191m shares. is this fair to shareholders, Mr accountant? if you had 1% ownership, you will be left with 0.3% ownership
To all XL investors, according to what I know about RCN insider news, XL has collected RM1.047 per share, the operator purposely pull down the price (to multiply by 80%) 3 days before the announcement, this move made operator collect cheaper price and more volume
As for how boss can not disclose the remaining balance, I think maybe Bursa they already know
