Recently, shares in oil and gas companies such as Reach Energy Bhd warrants and Perisai Petroleum Bhd , have been amongst the most actively traded stocks.
But be WARNED. It could be a BEAR Trap.
The Star reports :
KUALA LUMPUR:Perisai Petroleum Teknologi Bhd’s managing director Datuk Zainol Izzet Mohamed Ishak, has ceased to be a substantial shareholder of the company after the forced selling of 36.526 million shares.
In a filing with Bursa Malaysia on Monday, the upstream oil and gas provider said Zainol Izzet’s shareholding had fallen from 5.4% to 2.34% following the disposal of his 36.526 million 10-sen shares via the open market.
“The sales of shares are pursuant to financing arrangement that Datuk Zainol Izzet Mohamed Ishak is a party to and is not a voluntary sale on his part,” Perisai said.
