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If Mr Chung wants to take over this company, he must first buy the stocks, and at the same time increase the share price to stop the potential suitor for Private Placement from continuing or they pay high price.
A private placement of up to 20% of the total number of issued shares of Straits (excluding treasury shares) to third party investor(s)- 1st Tranche- 91,340,000 new Straits Shares issued pursuant to the first tranche of the Proposed Private Placement were listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad with effect from 9.00 a.m. on 18 February 2022 @ the Board had on 7 February 2022 resolved to fix the issue price for the first tranche of the Proposed Private Placement at RM0.151 per Placement Share. The issue price of RM0.151 per Placement Share represents a discount of approximately 9.53% to the 5-day VWAP of Straits Shares up to and including 4 February 2022, being the last traded day of Straits Shares immediately preceding the price-fixing date, of RM0.1669 per Straits Share. So when this private placement will complete, yet consolidation been announced...
As reported earlier that the transaction is expected to complete in the first quarter of 2022. Completed or not? What about Private Placement? Now 1st Tranche, when the 2nd Tranches or wait to pay for warrant if holders convert to mothershare?
