Note to ownself.... buybacks + ESOS + ED disposal of shares...
Some of the recent ESOS exercised was highlighted
post #3122» Click to show Spoiler - click again to hide... «
The announcement on the 10th Sep >>>>
1. Details of corporate proposal
Whether the corporate proposal involves the issuance of new type and new class
of securities? N
Types of corporate proposal : ESOS
Details of corporate proposal : Employees' Stock Option Scheme
No. of shares issued under this corporate proposal : 542,600
Issue price per share ($$) : 1.5400
Par Value ($$) (if applicable) : 0.000
Latest issued share capital after the above corporate proposal
In the following
Units : 8,128,619,774
Issued Share Capital ($$) : Malaysian Ringgit (MYR) 1,679,850,644.400
Listing Date : 10/09/2020
2. Details of corporate proposal
Whether the corporate proposal involves the issuance of new type and new class
of securities? N
Types of corporate proposal : ESOS
Details of corporate proposal : Employees' Stock Option Scheme
No. of shares issued under this corporate proposal : 1,767,100
Issue price per share ($$) : 1.5700
Par Value ($$) (if applicable) : 0.000
Latest issued share capital after the above corporate proposal
In the following
Units : 8,130,386,874
Issued Share Capital ($$) : Malaysian Ringgit (MYR) 1,682,801,701.400
Listing Date : 10/09/2020
3. Details of corporate proposal
Whether the corporate proposal involves the issuance of new type and new class
of securities? N
Types of corporate proposal : ESOS
Details of corporate proposal : Employees' Stock Option Scheme
No. of shares issued under this corporate proposal : 1,829,700
Issue price per share ($$) : 1.6300
Par Value ($$) (if applicable) : 0.000
Latest issued share capital after the above corporate proposal
In the following
Units : 8,132,216,574
Issued Share Capital ($$) : Malaysian Ringgit (MYR) 1,685,967,082.400
Listing Date : 10/09/2020
4. Details of corporate proposal
Whether the corporate proposal involves the issuance of new type and new class
of securities? N
Types of corporate proposal : ESOS
Details of corporate proposal : Employees' Stock Option Scheme
No. of shares issued under this corporate proposal : 419,600
Issue price per share ($$) : 1.6900
Par Value ($$) (if applicable) : 0.000
Latest issued share capital after the above corporate proposal
In the following
Units : 8,132,636,174
Issued Share Capital ($$) : Malaysian Ringgit (MYR) 1,686,718,166.400
Listing Date : 10/09/2020
5. Details of corporate proposal
Whether the corporate proposal involves the issuance of new type and new class
of securities? N
Types of corporate proposal : ESOS
Details of corporate proposal : Employees' Stock Option Scheme
No. of shares issued under this corporate proposal : 677,700
Issue price per share ($$) : 3.3000
Par Value ($$) (if applicable) : 0.000
Latest issued share capital after the above corporate proposal
In the following
Units : 8,133,313,874
Issued Share Capital ($$) : Malaysian Ringgit (MYR) 1,689,157,886.400
Listing Date : 10/09/2020
6. Details of corporate proposal
Whether the corporate proposal involves the issuance of new type and new class
of securities? N
Types of corporate proposal : ESOS
Details of corporate proposal : Employees' Stock Option Scheme
No. of shares issued under this corporate proposal : 900
Issue price per share ($$) : 4.2500
Par Value ($$) (if applicable) : 0.000
Latest issued share capital after the above corporate proposal
In the following
Units : 8,133,314,774
Issued Share Capital ($$) : Malaysian Ringgit (MYR) 1,689,151,044.800
Listing Date : 10/09/2020
Remarks:
>>>> the 2nd and the 3rd ESOS listing was rather huge, yes? ....
as can be seen the big ones, the ESOS issued at an extremely cheap prices.... below 1.70.....
So following days showed one of the Eexcutive Director,
Lim Cheng Guan, disposed 380,000 shares!and yesterday, it was announced the very same ED,
Lim Cheng Guan, exercised some 300,000 shares (no price was disclosed but you can bet the exercise price was extremely cheap!)
Ahem!!!
That was some fast profit by disposing the shares and then exercise back some very cheaply priced ESOS!!See.... that's fine. Fine by all means. Everyone does it in the corporate world. They get rewarded with cheap ESOS as a reward for the years of hardwork...
but ..... when this is done when the company is actively doing buybacks.... it gets muddied very fast and all sort of accusations will be made....
see why I had said when the company does massive buybacks, it's gotta to be dead certain that none of these shit is going on!
and yeah... huge chunk of convertible bonds were converted to shares during this period too (check the conversion price?

...
so nice the buyback had pushed the stock price so high! )....
But.... like they say.... the rising share price means all these matters not!
LOL! Share price going up... see nothing, know nothing, do nothing.

OMG.
Kathy finally picked up on this issue but I wished she had done more homework and she would realise when Lim had also sold the previous month, the company was also actively buying back its own shares.
Top Glove’s latest filing with Bursa Malaysia shows that its executive director Lim Cheong Guan sold 200,000 shares at RM8.79 on Monday (Oct 26), and 30,000 shares at RM8.98 on the following day.
And then this part...
While Top Glove’s director was selling shares, the Employees Provident Fund (EPF) was doing the opposite. The provident fund has bought an additional 51.35 million shares, raising its stake in Top Glove to 5.67% as at Oct 27, compared with 5.05% as at Sept 21.
What is so conflicting is that the big boss sits on the EPF board. A real conflict of interest when EPF is actively buying Top Glove shares.