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The management's recent actions have not instilled much confidence in the company, from buying personal aeroplane to property from the major shareholder, lacking in valid reasoning creates suspicions of an abuse in the company's fund for personal gain.
Given the history of negative publicity & fraud on multi-level marketing companies in the past, I hope Bursa will investigate further to protect the minor shareholders.
Retail investors shouldn't be too happy with the free warrants, you will only be diluted if others exercise their warrants and you don't.
The new management has done nothing worthwhile or have any significant contribution, so why are they being awarded ESOS?
This company's management are all crooks, on one hand dumping their share holdings in the market, and on the other hand issuing themselves employees' share option at an issue price of 0.11 sens. They're not trying to make profit from their business, they're making personal profit from retail investors.
Exercise options under Employees' Share Option Scheme.
No. of shares issued under this corporate proposal 8,240,400 at an issue price per share of Malaysian Ringgit 0.11 sens.
Ridiculous! Unless management knows the share price will drop to a fair value of MYR 0.25 sens.
That is because you do not understand the implication. The disposal will result in a pro-forma gain of approximately RM80 million, thus improving its net asset by approximately 10%.
Bought about a year ago with the intention to hold long-term for its consistent dividend, unfortunately I'm having second thoughts now, due to its recent under-performance.
