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With the recent purchase from Derrick, the number of shares held by significant shareholders is over 72%.
So, once news comes, we only have 29m shares to play with - this is what will drive the sharp increase when demand massively outstrips supply.
There is a history with this stock to move fast and high, previously with little/no news. Bring some significant news into the mix and it’s going to be a sight to behold!
Dato' Hussian @ Rizal bin A. Rahman
53,465,724
50.30%
Estate of Dato' Shamsir bin Omar
9,131,677
8.59%
Vidacos Nominees Limited
7,306,219
6.87%
Interactive Investor Services Nominees Limited
3,519,283
3.31%
Derrick Chia Kah Wah
1,800,000
1.69%
Janice Yew Yoke Ping, wife of Derrick Chia Kah Wah
1,943,000
1.83%
Total -
77,165,903
72.59%
Why would Derrick choose to buy 1.8m shares at 9.45p, rather than exercise his options? He has 2 million options priced at 2.5p.
I can only imagine he didn't want to see the drip, drip, drip of that amount of sells into the market and because he can see a great return from this price - he can also then exercise the options at a later date as well.
His wife has had her shares since Sept 2013. For him to essentially double their holding now is such a positive sign; he will have had so many opportunities to increase their holdings at much lower prices in the past.
They couldn’t mention it in results because super apps and TETE didn’t announce it until 19th October… and TETE is a listed Nasdaq company.
There was no mention of this deal in their yearly results update. And shortly after that it was announced. It seems the owner does not want to release updates unless required. Wether that's a good or bad thing I don't know. Whatever the case insiders buying is always a strong signal
Candlestick posted a few posts below with an excellent summary under "Timeline", so nothing on the deal that caused the rise in the next couple of weeks, imho. That's not to say there will be nothing about the wallet approval in the UK or another rabbit out of the hat. A comfortable hold, may drift a bit but seems pretty stable now.
Hoping we get an update this week or next
Any opinions ?
Hoping we get an update this week or next
Any opinions ?
well said
Who cares what anyone else bought/sold at or if they predicted a rise, take your bickering elsewhere! Now back to the good stuff :-) this is looking good now and just need a little patience while hopefully everything goes to plan. Can easily see this tripling in price from here although must remember to sell some this time when it gets there!
Earl.
But you sold out for 3.8-3.9, how many times do you need telling. It's no good bragging about multibaggers if you are not in them yourself. I too had some MBO recently but sold out before this huge spike so I'm not going to pretend I'm brilliant at tipping. You will be pump and dumping for coppers for the next 50 years if you do not learn to ride a position.
Plus it brings his wife's similar size holdings into notification and therefore out of play as potentially available
Got to be big news very soon.
nice rns
Dep CEO just bought 1.8m shares. Follow the.....
4p called this few weeks ago,
davey50 tried to discredit my research.
Davy50,
400% up since 4p,
davey50 stop deramping MBO
Being bought again. Buy the dips I guess, they’ll be funded nicely soon, have the current business and potential huge growth through this new arrangement.
Just google “grab holdings revenue” for an idea of what another leading South Asia Super App does.
loading up while its so cheap took another 20k at 10.5p yesterday
Had some comms back from TETE this
morning regarding the timeline.
Looking at the capital SEC filings I couldn't
get my head around the DEFA14A, as it just
appeared to be a duplication of the previous
8-K filing.
I got this back -
The Form 8-K was filed under Rule 14a-12.
as required by the applicable rules, so it also
appears as a DEFA14A. We haven't filed the
proxy statement yet. The date of the EGM
will not be known until we have filed the
proxy statement and gone through multiple
rounds of SEC review.
So it looks like the timeline for the closing of the deal will run into 2023. Once they file the proxy statement there will be a shareholder meeting within 30 days and then most SPAC deals close within 3 to 5 months of that. To be fair, TETE press releases did state that closing is expected in H1 2023
Just keep snapping a few up on weakness .. the next rns won’t be far away imo
looks to me market makers drifting this back to 10p ish
Crazy really with not that much time left before completion
https://www.businessinsider.com/elon-musk-twitter-super-app-x-2022-10
Looks really strong here. Sustained rise beyond 20p coming methinks
hoping to get a small top up in on the bell
Looks like we wont have long to wait until Shareholder meeting to consider approval. DEFA14A was filed on 19/10. Not fully certain if this date starts the 30-day window, but it seems to be.
“Parent Shareholders' Meeting shall be
held as promptly as practicable, in accordance with applicable Law and Parent's Organizational Documents, after the Proxy Statement is "cleared" by the SEC, but in no event later than 30 days following the date the Proxy Statement is "cleared" by the SEC.”
We also have to really consider the holdings of Dato' Hussian and the Estate of Dato? Shamsir bin Omar.
Between them, they hold 62.5m shares, out of 106.3m in issue. This means there is a free float of just 43.8m.
Try buying some when news kicks in!