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today lion rest day.
Blumont kena attack.
Left 1cent nia
what happen to lion?
derekchong ( Date: 15-Jun-2015 16:30) Posted:
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lion kena selldown. this one still ok.
one cent quite steady.
Please don' t debate on the calculations, it is just agak agak, but not very far off. I did not attend the meeting.
But I am trying to point out that Shortists (a big one) could be doing strange things.
I hate the rules that allows shortists to rule the market. Lol
From what some of you have been saying, I think it could be shortists rejecting the resolution.
180 million shares e.g voted for. (31% of 100%)
580 million shares voted against. (69% of 100%)
2.3 billion - 760 mill shares = absentees (shareholders did not turn up or voted).
Shortists shorted on borrowed shares 1 billion shares on borrowing account but kept his CDP acct with 580 million shares.
These figures are only examples and are not 100% accurate possible with a divergence of 10 to 20% error.
For the thinking only..Lol.
From what some of you have been saying, I think it could be shortists rejecting the resolution.
180 million shares e.g voted for. (31% of 100%)
580 million shares voted against. (69% of 100%)
2.3 billion - 580 = absentees (shareholders did not turn up).
Shortists shorted on borrowed shares 1 billion shares on borrowing account but kept his CDP acct with 580 million shares.
These figures are only examples and are not 100% accurate possible with a divergence of 10 to 20% error.
For the thinking only..Lol.
As you can see from this board, all blunont shareholder are fully prepare to written off and mostly shareholders dont even bother this company anymore
I am at the EGM on 11 June 2015 too. I do feels the majority shareholder are in the right move.
Why are we putting right issue for loan creditor from previous management board? The loan creditor charging interest 10 to12 pc.
We shareholder are stupid always paid for others mistake.
We are near to BK, what is the issue here.
My concern is this board only has 180 mil shares solidly backing them i.e. their hardcore supporters getting director fees and the executive chairman with a salary. The 300mil against was from a single largest shareholder, presumably at the EGM. So the rest of the 2.3 billion shares are just along for the ride praying for a miracle? Good luck guys.
ethanetoh ( Date: 11-Jun-2015 22:08) Posted:
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People are funny. Got rights, they say die, die, going to dilute my shares, got no rights they say oh dear, how arh, no rights can die also? Die? Cheh cheh cheh, die long time already, lol..
But seriously, rights issue is asking for money from shareholders and is never a welcomed move. I have always anti-rights. And therefore cancelling any rights issues to find a way out is a plus. There will be a way to do business on a shoe string, which is good. Lol.
I thought sure go through one so I did not do anything.....
shit..... now no money to repay debts, what will happen?
Observers ( Date: 11-Jun-2015 19:06) Posted:
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From what I was told, seems like the current board only has about 180+mil shares support for this EGM resolution. 180mil shares to control a total of 2.8 bil share capital? Wonder where all the other shareholders gone to. Maybe written off this investment already.
In exact, Oct 2013 flashing off 90% of investor fund within a few days!
treetops ( Date: 11-Jun-2015 16:05) Posted:
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If not mistaken, the rights were planned for acquisition. So no acquisition, maybe on " oor-thang" basis, is it possible?
treetops ( Date: 11-Jun-2015 16:05) Posted:
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If can' t issue rights to raise fund, this share will be gone case!
May drop lower than current price now. 1cent!
Better avoid it.
Those know this share since 2013 at $2 plus drop to less than 20 cents will know this is a hopeless share!
I am quite happy (though not a shareholder) that Blumont has got big shareholders who can " veto" any subjective resolutions.
Blumont can...lol..
Demostation ( Date: 11-Jun-2015 15:52) Posted:
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I mean erosion of shareholders' rights can be stopped as an example here. In many meetings I went, it was always stereotyped. The chairman will always ask " any question?" pause for 1 seconds and then immediately say if there is no question, he considers the motion (resolutions) passed, this gives no time for shareholders to make queries and give objections.
Demostation ( Date: 11-Jun-2015 15:45) Posted:
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Good to thwart any plans by directors to casue futher sufferage to shareholders.
Creditors can wait and let the company make profits by hard working and a good team. Given time and non-pressure of debts, the company or any company for that matter, will make money to pay everyone, I am sure.
Result of poll 61% vs 39% shareholders rejected the right issue, about 15 shareholders attended the EGM lah , a very substantial shareholder and his proxy cast the votes to reject it... want Mgt to be like Greece to fight for debt re-negotiation....If the debators don' t want than coy Cap 13 loh..( I think only)
Demostation ( Date: 11-Jun-2015 15:18) Posted:
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