rcb kill the stock....
later they can also do other tricks like let others subscribe below 0.0008..say 0.00001 then 0.000001....
Then value cap will also be trapped.
I wonder why they allowed such company to still continue listing
with this loophole, Value Capital (or anyone with this privilage) can always make profit by just rolling the same money, yes on the surface this is legal and ofcourse SGX will close their eyes and will not investigate any deeper, else they will have to do lot of work ..
Reply from SGX about Value Capital dumping shares and then converting on the same day - it is legal!! If those loan sharks know this kind of business, they'll switch job immediately.1) We would like to draw your attention to Chapter 8A.2.1 of the SGX-ST Rules, which states the situations under which a seller is deemed to own a security. In particular, under paragraph (b)(ii), an individual is deemed to own a security if he has tendered other securities for conversion or exchange or has issued irrevocable instructions to convert or exchange other securities into the security, but has not yet received delivery of such security, and the delivery would, in the ordinary course, be before the settlement of the sale of the security.
On 22 August 2016, LionGold Corp Ltd (?LionGold?) announced that, in accordance with the terms and conditions of the Subscription Agreement, the Subscriber (Premier Equity Fund Sub Fund E) has exercised its right to convert six (6) Redeemable convertible Bonds (?RCBs?) with an aggregate principal value of S$300,000. The six (6) RCBs will be converted into 375,000,000 Conversion Shares at the Conversion Price of S$0.0008 per Conversion Share.
Accordingly, the Subscriber is deemed to have owned the shares on 22 August 2016. These shares were delivered on 23 August 2016, before the settlement of the sale on 25 August 2016.
Actually, SGX is over regulated. Of course, MAS is over regulated too.
Reply from SGX about Value Capital dumping shares and then converting on the same day - it is legal!! If those loan sharks know this kind of business, they'll switch job immediately.1) We would like to draw your attention to Chapter 8A.2.1 of the SGX-ST Rules, which states the situations under which a seller is deemed to own a security. In particular, under paragraph (b)(ii), an individual is deemed to own a security if he has tendered other securities for conversion or exchange or has issued irrevocable instructions to convert or exchange other securities into the security, but has not yet received delivery of such security, and the delivery would, in the ordinary course, be before the settlement of the sale of the security.
On 22 August 2016, LionGold Corp Ltd (?LionGold?) announced that, in accordance with the terms and conditions of the Subscription Agreement, the Subscriber (Premier Equity Fund Sub Fund E) has exercised its right to convert six (6) Redeemable convertible Bonds (?RCBs?) with an aggregate principal value of S$300,000. The six (6) RCBs will be converted into 375,000,000 Conversion Shares at the Conversion Price of S$0.0008 per Conversion Share.
Accordingly, the Subscriber is deemed to have owned the shares on 22 August 2016. These shares were delivered on 23 August 2016, before the settlement of the sale on 25 August 2016.
Reply from SGX about Value Capital dumping shares and then converting on the same day - it is legal!! If those loan sharks know this kind of business, they'll switch job immediately.
1) We would like to draw your attention to Chapter 8A.2.1 of the SGX-ST Rules, which states the situations under which a seller is deemed to own a security. In particular, under paragraph (b)(ii), an individual is deemed to own a security if he has tendered other securities for conversion or exchange or has issued irrevocable instructions to convert or exchange other securities into the security, but has not yet received delivery of such security, and the delivery would, in the ordinary course, be before the settlement of the sale of the security.
On 22 August 2016, LionGold Corp Ltd (?LionGold?) announced that, in accordance with the terms and conditions of the Subscription Agreement, the Subscriber (Premier Equity Fund Sub Fund E) has exercised its right to convert six (6) Redeemable convertible Bonds (?RCBs?) with an aggregate principal value of S$300,000. The six (6) RCBs will be converted into 375,000,000 Conversion Shares at the Conversion Price of S$0.0008 per Conversion Share.
Accordingly, the Subscriber is deemed to have owned the shares on 22 August 2016. These shares were delivered on 23 August 2016, before the settlement of the sale on 25 August 2016.
When this company do a roadshow with some nice slides..many would have thoght its a legitimate company..
Up until the share approches zero..
Yeah.....good for nothing management!! They only run the company into the ground if they continue. Let us work together to bring changes.
Let' s get rid off the current management team together!
Hi, Bro nakhoda,Appreciate your kind concern and intention to organise the group, do keep sensitive exchanges in What' sApp & SMS to stay away forum moderation.
gentlemen, do check your pm.
true
Hi, Bro nakhoda,Appreciate your kind concern and intention to organise the group, do keep sensitive exchanges in What' sApp & SMS to stay away forum moderation.
to those that have replied, do check your pm. i provided update on total sharesholdings from the 9 that replied.
Let' s get rid off the current management team together!
Hi, Bro nakhoda,Appreciate your kind concern and intention to organise the group, do keep sensitive exchanges in What' sApp & SMS to stay away forum moderation.
to those that have replied, do check your pm. i provided update on total sharesholdings from the 9 that replied.
Hi, Bro nakhoda,
Appreciate your kind concern and intention to organise the group, do keep sensitive exchanges in What' sApp & SMS to stay away forum moderation.
to those that have replied, do check your pm. i provided update on total sharesholdings from the 9 that replied.
You can' t buy lower than 0.001, but rcb can convert at 0.0008 (omg, 20% lower, instead of 15% as agreed - is it a criminal act?).
rcb still can convert to 32b+ shares. and worse they can do share consolidation!
Just wondering and may i ask can the price be lower than 0.001 in SGX?
yes,,look at bond redemption at 0.0008
Just wondering and may i ask can the price be lower than 0.001 in SGX?
no.
Just wondering and may i ask can the price be lower than 0.001 in SGX?
Just wondering and may i ask can the price be lower than 0.001 in SGX?
