Hayleys MGT Rights Issue 4:11 @ Rs. 9.75

[SrirangaVeteran]

http://www.cse.lk/cmt/upload_cse_announcements/6061402485417_.pdf

[balapasTop contributor]

I told my neighbor not to buy this share but he bought. Wonder what he will have to say now. Companies with losses for a long time or high in debt will go for rights issues. LDEV made losses for a long time and PABC (low capital adequacy ratios) might do it as well so dont go after these shares. BIL already did. They have debt plus losses. Accounting gilmart in the name of negative goodwill was recorded to show profits which they did in the past as well but infact its a loss.

[dhanurrox]

I told my neighbor not to buy this share but he bought. Wonder what he will have to say now. Companies with losses for a long time or high in debt will go for rights issues.  LDEV made losses for a long time and PABC (low capital adequacy ratios) might do it as well so dont go after these shares. BIL already did. They have debt plus losses. Accounting gilmart in the name of negative goodwill was recorded to show profits which they did in the past as well but infact its a loss.

Biggest problem is the people who know there's a right issue manipulated this share to 13.Hows that?

[balapasTop contributor]

I told my neighbor not to buy this share but he bought. Wonder what he will have to say now. Companies with losses for a long time or high in debt will go for rights issues.  LDEV made losses for a long time and PABC (low capital adequacy ratios) might do it as well so dont go after these shares. BIL already did. They have debt plus losses. Accounting gilmart in the name of negative goodwill was recorded to show profits which they did in the past as well but infact its a loss.

Biggest problem is the people who know there's a right issue manipulated this share to 13.Hows that?

Yes correct, Broker huts promoted saying MGT making profits now but it was just gross profit and TJL was going to buy that. Well what to do. I see LDEV is also being promoted and price increasing. Not saying they will do it but we know their history of rights issues dont we?   

[Jana1Top contributor]

I told my neighbor not to buy this share but he bought. Wonder what he will have to say now. Companies with losses for a long time or high in debt will go for rights issues.  LDEV made losses for a long time and PABC (low capital adequacy ratios) might do it as well so dont go after these shares. BIL already did. They have debt plus losses. Accounting gilmart in the name of negative goodwill was recorded to show profits which they did in the past as well but infact its a loss.

Biggest problem is the people who know there's a right issue manipulated this share to 13.Hows that?

Yes correct, Broker huts promoted saying MGT making profits now but it was just gross profit and TJL was going to buy that. Well what to do. I see LDEV is also being promoted and price increasing. Not saying they will do it but we know their history of rights issues dont we?   

 

MGT issue rights to pay its employee. I knw one broker who advised most of his clients to buy at 35 level befr its fraudulent discovery. Several time I said that broker dont recommend that share to innocents. He was keep on buying after its heavy lost. This is an absolute right issue machine and broker manipulation helps it a lot.

[sereneTop contributor]

I told my neighbor not to buy this share but he bought. Wonder what he will have to say now. Companies with losses for a long time or high in debt will go for rights issues.  LDEV made losses for a long time and PABC (low capital adequacy ratios) might do it as well so dont go after these shares. BIL already did. They have debt plus losses. Accounting gilmart in the name of negative goodwill was recorded to show profits which they did in the past as well but infact its a loss.

Biggest problem is the people who know there's a right issue manipulated this share to 13.Hows that?

It's like Day light robbery.Everyone notice.But nothing taken against.  

[SrirangaVeteran]

HAYLEYS MGT KNITTING MILLS PLC
Company ID: - MGT
Date of Initial Announcement: - 11.Jun.2014
Proportion: - Four (04) new ordinary shares for every Eleven (11) existing ordinary shares held
Issue Price: - Rs. 9.50/-
Qty Offered: - 55,397,570
General Meeting / Provisional Allotment: - 01.Aug.2014
Date EX: - 04.Aug.2014
Dispatch of Provisional Letter of Allotment: - 08.Aug.2014
Rights Trading Commences on: - 14.Aug.2014
Renunciation: - 21.Aug.2014
Last Date of Acceptance & Payment: - 22.Aug.2014
Share Transfer Book Open