PacMas jumps after capital repayment goes ex (4782)

KUALA LUMPUR: Shares of PacificMas Bhd surged on Friday after the capital repayment of 95 sen cash per share went ex and ahead of the winding up of the company.
At 10.19am, it was up 25.5 sen to 39.5 sen. There were 5.94 million shares transacted.
The
FBM KLCI fell 0.92 of a point to 1,650.69. There were 306.02 million
shares valued at RM191.18mil. There were 138 gainers, 261 losers and
258 counters unchanged.
On Thursday, Bursa Malaysia Bhd's
securities market operations said the reference price for PacificMas
following the capital repayment would be 14 sen.
The capital
repayment of 95 sen would involve reducing the par value of each RM1
share to 5.0 sen each under Section 64 of the Companies Act, 1965.
On
Aug 10, PacMas said the repayment was approved by the shareholders at
the EGM on May 16 and 2012 and confirmed by the High Court on Aug 2.
"Upon
completion of the capital repayment, PacificMas will only be holding
cash and certain illiquid assets. Therefore, the board of PacificMas
intends to initiate the proposed members' voluntary winding-up of
PacificMas in accordance with the Companies Act, 1965 after the capital
repayment," it said.
PacMas had then said the proposed
winding-up was to facilitate the liquidation of the remaining illiquid
assets and return the net cash recoverable arising thereof to the
shareholders.
"Thereafter, as there is little or no advantage to
remain listed, it is not the intention of the board to maintain the
listing status of the company," it had said, adding it would apply to
Bursa Malaysia Securities to delist the company.

so what is the price shall be in the market?

0.05 sen par value

value is 0.14 after repayment

if you see last close 1.09 - repayment 0.95 = 0.14 value

thanks to mabs

Cals wrote:0.05 sen par value

value is 0.14 after repayment

if you see last close 1.09 - repayment 0.95 = 0.14 value

thanks to mabs [You must be registered and logged in to see this image.]

thx...+1 rep.

start battle at 27.....sold at 44 435
bfr the hamme come in

phoenix777 wrote:start battle at 27.....sold at 44 435
bfr the hamme come in

i waved at you ler at the top

Cals wrote:

phoenix777 wrote:start battle at 27.....sold at 44 435
bfr the hamme come in

i waved at you ler at the top