Monday 10 July 2023

Revenue Group Bhd, Walking On Very Dangerous Ground.

BURSA Malaysia has no options left except to call in the Police to probe Revenue Group Bhd's warrant conversion which makes no economic sence.

WHY the urgency ?  WELL because ina  lunch break announce today,  Revenue Group told the stock exchange another RM6.03 million was pumped into  the company artificially. 

ARTIFICAL, because the one for one conversion was done at 75 sen when the mother shares were trading at only 25.5 sen..

A genuine investor could have bought 23.5 million Revenue Group Bhd via purchases in the open market  instead of ending up with a 8.045 million shares 

SOME 62.592 million warrants were converted between April and May 2023 with a conversion price of 75 sen per warrant conversion. The conversion ratio is on a one for one basis.

THE conversions only started, after Francis Leong Seng Wui was appointed executive director. Todate, some RM55 million  have been injected into Revenue Grouoþ
o via this highly suspicious manner.