TO recap, between April and May 2023, 62.59 million Revenue Group Bhd Warrants were converted at 75 sen per warrant conversion, resulting in about RM46.94 million being pumped into the company.
AT that point the Revenue Bhd shares were trading at about 26 sen, meaning for 46.94 million, one could have easily bought about 180 million Revenue Group mother shares.
IT seems a similar pattern had taken shape in Green Packet Bhd, where some RM6 million were pumped into the company via warrant conversion of 40 sen per conversion, at a time when Green Packet was trading under 5 sen per share.
SINCE its a one for one conversion, the 15 million warrants converted equals to 15 million Green Packet mother shares.
DO you know how many Green Packet mother shares priced at 0.05 sen can buy you for RM6 million? A MIND BLOWING 120 million Green Packet mother shares.
SINCE, this strange trade had taken place both Green Packet Chairman Firmansyah Aang and Syafinas Merican its independent audit committee had quit the company.
LIM Kok Han seems to have also distanced himself from this mess by selling off all his shares and resigning as a board member.
