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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » So does it mean no trading of Greg W 2 from 24th Feb onwards ...??

So does it mean no trading of Greg W 2 from 24th Feb onwards ...??

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LongTerm


Senior Equity Analytic
Senior Equity Analytic
The CSE announcement was slightly confusing, and a tradng restriction can mean a halt on trading i guess.

Experts please share your views..

Thanks

wiser

wiser
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
yes you can't trade after 24th

2011_NewComer

2011_NewComer
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
I am not clear whether it's 24th or 3rd. Because the cut off date is Feb 3rd and the expiration date is feb 24th.

But when read today's announcement, it looks like it can trade till 24th.

Question

Crazy28


Stock Trader
Any idea regarding the share price after the warrant conversion?

2011_NewComer

2011_NewComer
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
As I understand the conversion will be on 2013 September. So it's too early to predict the price Smile

mark

mark
Expert
Expert
@2011_NewComer wrote:I am not clear whether it's 24th or 3rd. Because the cut off date is Feb 3rd and the expiration date is feb 24th.

But when read today's announcement, it looks like it can trade till 24th.

Question

ohhh,it should be 3rd,if not buggers will push this up and there will be new bunch of suckers who gonna buy any shit Evil or Very Mad

http://www.cse.lk/cmt/upload_cse_announcements/4791328090905_.pdf


so who idiots wants to lock their money in warrants until sep 2013 from feb 24th Question Question Question Twisted Evil Twisted Evil Twisted Evil

LongTerm


Senior Equity Analytic
Senior Equity Analytic
@2011_NewComer wrote:As I understand the conversion will be on 2013 September. So it's too early to predict the price Smile

Exactly. You have to be a really long term believer in Greg to hold on to a warrant which cannot be traded for 15 months and hope it will be "in the money" to convert in September 2013. I am not comfortable with that.

mono

mono
Vice President - Equity Analytics
Vice President - Equity Analytics
I wonder how they're going to pay for the kabok mine without those warrants

LongTerm


Senior Equity Analytic
Senior Equity Analytic
@mono wrote:I wonder how they're going to pay for the kabok mine without those warrants

The platinum mines have indeed turned to "kabok"...LoL.

Anyways you never know with Greg, the warrants might be back at 10/- and all the idiots who bought at 5.50 today will be 100% up on the deal...

Rapaport

Rapaport
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Typical JUNK!

Cheers!

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
You cannot sell W003 after tomorrow.

Originally the last date for payment was 24th Feb 2012.
Now they have extended that date to ...2013.

You can hold it without paying. Cannot sell it.

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@LongTerm wrote:

Anyways you never know with Greg, the warrants might be back at 10/- and all the idiots who bought at 5.50 today will be 100% up on the deal...

Should done withing 24 hrs. Thereafter You cannot trade it.

Nigel.Machado


Manager - Equity Analytics
Manager - Equity Analytics
@Rapaport wrote:Typical JUNK!

Cheers!

cheers mate!! cheers

well said

hariesha


Vice President - Equity Analytics
Vice President - Equity Analytics
What I understood was W2 is tradable up to 24th Feb. 2012 according to SEC directive. But it’s confusing. If true W2 may touch 10 again and GREG may give another two runs at least. Look for the trading opportunities. For last 30 days it touched 27 thrice. Today is the latest. Which means three 14% gains within safe margins of 27-32? This is the share which gives most opportunities even in the dull market.[code]

seyon


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@hariesha wrote:What I understood was W2 is tradable up to 24th Feb. 2012 according to SEC directive. But it’s confusing. If true W2 may touch 10 again and GREG may give another two runs at least. Look for the trading opportunities. For last 30 days it touched 27 thrice. Today is the latest. Which means three 14% gains within safe margins of 27-32? This is the share which gives most opportunities even in the dull market.[code]


As per my understanding expiration date could be extended from 24th Feb 2012 to 26thSep 2013 with the share holder approval but cut off date can not be extended from 3rd Feb 2012 to 6th Sep 2013 as per the direction made by SEC. So 3rd Feb 2012 would be the last day of trading of the warrants.

Look at the initial announcement http://www.cse.lk/cmt/uploadAnnounceFiles/7761325821678_782.pdf

My concern is about PC house chairman Rishan, I guess he bought GREG @ 68 and Warrants @ 32. I like to see his portfolio.

seyon


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@LongTerm wrote:

Anyways you never know with Greg, the warrants might be back at 10/- and all the idiots who bought at 5.50 today will be 100% up on the deal...

Exactly, Thushan can do all wonders on GREG He can puch up to Rs.10 and even push down Rs.0.10..... Becareful with these warrants.

kaka


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
again greg starting Twisted Evil

wiki


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@seyon wrote:
My concern is about PC house chairman Rishan, I guess he bought GREG @ 68 and Warrants @ 32. I like to see his portfolio.

Well he could dump his GREG.N provided he applied additional shares from W1 at 24.00..But W2 ?
we have to wait for the next financial report..

@seyon wrote:
Exactly, Thushan can do all wonders on GREG He can puch up to Rs.10 and even push down Rs.0.10..... Becareful with these warrants

They further said that Lionheart is run by an American called Scott Neuson who has substantial experience in day trading in global markets such as Nasdaq. He apparently runs an office at the Lanka Orix Securities Ltd (LOSL) building in Colombo. LOSL Managing Director Thushan Wickramasinghe is also said to be having a stake in Lionheart.
http://www.thesundayleader.lk/archive/20070708/business.htm





rijayasooriya

rijayasooriya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@seyon wrote:
@hariesha wrote:What I understood was W2 is tradable up to 24th Feb. 2012 according to SEC directive. But it’s confusing. If true W2 may touch 10 again and GREG may give another two runs at least. Look for the trading opportunities. For last 30 days it touched 27 thrice. Today is the latest. Which means three 14% gains within safe margins of 27-32? This is the share which gives most opportunities even in the dull market.[code]


As per my understanding expiration date could be extended from 24th Feb 2012 to 26thSep 2013 with the share holder approval but cut off date can not be extended from 3rd Feb 2012 to 6th Sep 2013 as per the direction made by SEC. So 3rd Feb 2012 would be the last day of trading of the warrants.

Look at the initial announcement http://www.cse.lk/cmt/uploadAnnounceFiles/7761325821678_782.pdf

My concern is about PC house chairman Rishan, I guess he bought GREG @ 68 and Warrants @ 32. I like to see his portfolio.
the said 2012 warrents will trade on the colombo stock exchange up to and including 6th september 2013...
Original announcement clearly says W2 would trade even on 6th september 2013.And date of this announcement is 5th January 2012.
Then what the hell this incompetence SEC had being done till 31st January to make their decision.OR GREG should have kept this information secretely.Eitherway it is very bad.It clearly shows complete incompetence of this so called watchdog.
And still there is no clear cut off date.I think all the SEC should be investigated for fraud and insider dealing.
වැටත් නියරත් ගොයම් කානම් කාට පවසන් ඒ අමාරුව කියලා අපේ පැ‍රැන්නෝ මේවාට කියනවා

mithila abeysekera


Equity Analytic
Equity Analytic
buying greg at 5.5 now is a big risk but could be a big income aswell...
greg.n 27 now
w2 at 5.5 and + 33 i think.so it would be 38.50
so buying w2 now is not worth it... but then again if somebody pushes the w2 to 10 before 24th or the main share greg.n upto 40s then w2 share will rise...
any expert comments?????

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