This annoucement was released on 14 Jun 2017.
Share price rised as high as 54.54% to RM0.085sen and closed at RM0.075
According to the announcement, this MGO will priced at RM0.14 to RTO Wellspring
This was confirmed by Shifu as well.
The only thing that bother me is today's chart pattern~
Based on historical chart pattern, this kind of chart may represents share price will going to drop tomorrow
Hope everything goes well~
Entry price RM0.08
.... Sold at RM0.065
Loss: RM0.08-0.065=RM300 (Excluded Brokeage fee)
Main Reason: Did not read previous announcements
RM0.14 acquisition price already factor in share consolidation and right issue.
Assuming Scenario 1 (Without execute right issue)
- Shareholder Value: 20000*RM0.08= RM1600
- Share consolidation 4 to 1: 20000/4=5000
- New Share holding:5000
- Shareholder value after share consolidation: RM1600/5000=RM0.32
- Previously RM0.08*20000=RM1600
Share Con RM0.32*5000= RM1600
Wellspring acquisition price: RM0.14 (Maximun share price)
Shareholders loss: RM0.14-RM0.32=RM0.18
Total Loss: RM0.18*5000=RM900
Assuming Scenario 2 (execute right issue)
- Right issue: RM0.10 ; 3 right issue for every 2 existing Smtrack shares
<<< 200 = 300OR
5000= 7500OR
(RM0.32*5000)+ (RM0.10*7500OR)= RM1600+RM750
= RM2350
RM2350/(5000+7500OR)= RM0.188 per share >>>
- Shareholder loss: RM0.188-RM0.14= RM0.048
Total Loss: RM0.048*12500=RM600
What is the Fair price of RM0.14 acquisition price
- Assuming I bought 20000shares at price Y
- Shareholder value:20000*Y = 20000Y
- New shareholding:5000
- Per Share price after Share consolidation: 20000Y/5000
= 4Y
- Right issue: 200=300OR
5000=7500OR
- (5000*4Y)+(7500*RM0.1)= ((5000+7500)*RM0.14)
20000Y+RM750= RM1750
20000Y=RM1750-RM750
= RM1000
Y = RM1000/20000
= RM0.05
= RM1000
Fair Price is RM0.05
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