So I have 9000 units of AMFIRST-TR. I have a nominee CDS so I wonder if they're going to send the documents to me. I guess I will have to call CIMB to find out.

So who's exercising the right and who is selling?

Will be exercising it... buying some rights to round up the lot size.

I have a question about this. Supposedly you can apply for more of these rights that are allotted for you (reason being some people might want to sell their rights or not exercise it).

The stock has already dropped around 10 sen when the rights issue was announced. The stock is now at RM1.03. After the 18th July when people get their rights as a discounted price of 0.83, a lot of people are going to sell to make around a 20 sen spread. How likely is this to affect the current price of RM1.03? Will it drop further after the 18th?

Yes, in theory, it may affect the mothershare price after the right issue come out to the market as there are more shares than before.

But those bought the right issue at 0.83, their cost is actually 0.83 + Amfirst-TR price (currently 17.5 cents), so they are not making 20 cents as claimed.

Hmmm.... i was not aware that there was an extra 17.5 sen. I mean lets just say I own 1000 shares of AmFirst. So that would entitle me to 600 rights. I just assumed i could buy the 600 rights for 0.83 which is RM498 + some brokarage cost.

Just to check my understanding, if I were to apply for more rights than i was allotted, i would have to pay the AmFirst-TR price of 17.5 sen a share? But the 600 shares allotted to me are free of that 17.5 sen?

If i sell my 600 rights, im guessing im selling it at that 17.5 sen value

Yes, but prior before the ex-right, Amfirst is trading at 1.13, not 1.02 as today.
After ex-right issue, market price for Amfirst being adjusted to 1.02.

The 600 -TR is free for you, actually it is not "free", as share price was adjusted on ex-right day as above mentioned.

You could buy the 600 share at Rm0.83, there is no brokerage fee incurred in getting the right share, apart from banker cheque and postage of the form.

If not, one can sell at market price today at 17.5 cents.

For applying excess right issue, you do not need to pay 17.5 cents. It is free.
So who getting or granted the excess, will gain 19 cent (1.02-0.83).
So can try your luck.
Excess share normally is not easy to get.
Unless got a lot of -TR holder do not exercise the right issue. (which is totally not wise to at current discrepancy between market price vs 0.83)

i sold mine 600 share -TR

Which bank offers the lowest Banker's Cheque option ?

Since I've just bought some today, guess I just missed this Ri thingy? Or am I supposed to see in my CDS acct too?

You bought AMFIRST or AMFIRST-TR ?

Just in case anyone is interested. I am using CIMB iTrade with a nominee account. I just got called and my instructions are that I don't need to fill out the forms or prepare a bank cheque. To exercise the right, I just have to deposit the correct amount of money into a bank account and let me dealer know when it's done.

CDS Nominee account does have its advantages too...

still queuing for TR

when it going to expired?

---

Added on July 13, 2012, 10:35 amok i got the answer

http://announcements.bursamalaysia.com/EDM...F8?OpenDocument

This post has been edited by wos: Jul 13 2012, 10:35 AM

Anybody receive the AMFIRST RIGHTS SUBSCRIPTION FORM (“RSF”) ?
Can we use the blank RSF form downloaded from the Bursa Malaysia website ?

This post has been edited by ronnie: Jul 16 2012, 01:42 PM

I have not received mine too. I am in Penang btw. Since the last trading day is 17th, what should we do if we don't receive the RSF and we could not sell it away? Will we just lost the rights and lost the rights worth?

You don't lose ANY money if you don't sell the rights or don't exercise the rights issue

What will happen to the rights worth (RM0.18 at the moment)? Don't I lose the RM0.18/unit of rights?

Do you mean I don't lose more money than I already have from stock dilution? I mean the mother stocks prior to the rights issue were at at RM1.15 and now only worth RM1.02, which means I already lose RM0.13/unit from the stock dilution, right? The only way to break even or profit some money is to earn back the RM0.18/unit of rights, or buy up more mother stock at RM0.83/unit. Please let me know if this is wrong. Thanks in advance.

Wrong.
You already lose money from the price adjustment after the ex-right issue.

Those holding -TR
either
1. Sell of TR, get the money
2. Exercise the TR, paid Rm0.83 and get AMfirst new share issued.

---

Added on July 16, 2012, 5:33 pmYou lose RM0.18 if you are not going to sell off -TR and also do not exercise the -TR.

I do not see any reason, why one do not take up the RI (if not selling off the TR), as you get AMfirst new share at Rm0.83, while market price is RM1.02.

Yes, you lose through the dilution when the price adjustment for the ex-right issue, aka previous Amfirst was RM1.1x, after adjust for RI, become RM1.02/1.03.

This post has been edited by cherroy: Jul 16 2012, 05:33 PM

You already had it in your CDS account on the first day TR start trading, you do not need to wait the physical form to arrive to sell off the TR.