Koon Yew Yin 27 Nov 2020
About 2 weeks ago, Mr Mak, executive director came to my house to take me to visit his glove factory in Chemor, Perak. He also invited many other investors and reporters. This has created a lot of publicity. As a result, many investors rushed to buy ATS share aggressively to push up the share price. I was misled to buy some shares and I post 2 buy recommendation articles.
As soon as I found out my mistake, I posted my article to forewarn investors.
After careful research, I found out the following which all investors should know.
Its total number of issued shares is 3,282 million
On 27 Nov, the company placed out 30 million shares at 17 sen per share.
On 27 February, the company issued 998 million shares at 3.5 sen per share and 748 million free convertible warrants to the shareholder. For every 4 shares held by a shareholder, he was entitled to buy 2 right issues at 3.5 sen per share with 3 free warrants which can be converted within 5 years and the conversion price is 3.5 sen per share.
In addition, under ESSO all employees are entitled to buy 328 million shares at 3.5 sen per share.
The company has not produced 1 medical glove.
Moreover, the company has reported losses in every quarter in the last 7 quarters.