Monday, 26 September 2016

Shahul Hamid, the Edge and Mr Arthur Levitt

Mr Arthur who? Well it's Mr Arthur Levitt, the former president of the US Securities and Exchange.

This is what Mr Arthur Levitt says about SPAC :

I have never found any blank-check investment vehicle attractive. No matter what the reputation or what the sponsor might be. . . . They are the ultimate in terms of lack of transparency.”

 — Arthur Levitt, former SEC Chairman.

Going through Shahul Hamid's "interview" (come on lah how can an experience journalist use last year's shareholding list... Is the EDGE now doing ADVETORIALS or someone is MOONLIGHTING)

Anyway shahul hamid character had this to say :  if the proposed QA fails to go through, Reach Energy has another year until Aug 15, 2017, to find another QA.

“Additionally, it will take another one to two years to wind down the company. So, if dissenting shareholders think they can get their money back within seven days, that’s only if the QA goes through. But if more than 25% of shareholders dissent and the QA doesn’t go through, it will take time to see their money refunded,” he says.

Up to this point all is FINE.

WHAT WORRIES ME IS THIS STATEMENT :

TH, which owned 7.97% of Reach Energy as at Aug 11, has signalled that it is in favour of the QA.

Can anyone TELL me if the ABOVE statement is made by shahul hamid, or Kang Siew Li , the reporter...

BURSA Malaysia PLEASE do your JOB, the market wants to know WHO made this statement and WHAT does SIGNAL mean?

Why the MARKET wants to know this is because in the very next paragraph, Kang Siew Li writes :

Shahul Hamid says even if the proposed QA fails to go through, Reach Energy has another year until Aug 15, 2017, to find another QA.

The EDGE's credibility or what is left of it after its failed attempt to fix the PM is at stake here.

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