REEF W0018 Conversion Date

jkp · 1 REEF W0018 Conversion Date Mon Apr 23, 2012 1:19 pm

jkp

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Any one can tell me what is the conversion date of REEF W0018(W2012)?
I bought @ 5.20 level & loss 50% by today.what is the reason for the sudden drop???
Pl help me, dear members..

sapumal · 2 Re: REEF W0018 Conversion Date Mon Apr 23, 2012 5:34 pm

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Refer the annual report
It is 2012 June 15 I guess

illuminati · 3 Re: REEF W0018 Conversion Date Mon Apr 23, 2012 6:26 pm

illuminati

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Reef warrants have no value at all now. Not even 10 cents. And also mark my words the unfolding REEF drama will be a copy book VANIK where the shareholders will ultimately bite the dust.

Redbulls · 4 Re: REEF W0018 Conversion Date Mon Apr 23, 2012 7:32 pm

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illuminati wrote:Reef warrants have no value at all now. Not even 10 cents. And also mark my words the unfolding REEF drama will be a copy book VANIK where the shareholders will ultimately bite the dust.

Are you sure?

illuminati · 5 Re: REEF W0018 Conversion Date Mon Apr 23, 2012 7:49 pm

illuminati

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Redbulls wrote:

illuminati wrote:Reef warrants have no value at all now. Not even 10 cents. And also mark my words the unfolding REEF drama will be a copy book VANIK where the shareholders will ultimately bite the dust.

Are you sure?

I am absolutely certain. How about you ? what is your view ?

Redbulls · 6 Re: REEF W0018 Conversion Date Mon Apr 23, 2012 8:00 pm

Redbulls

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illuminati wrote:

Redbulls wrote:

illuminati wrote:Reef warrants have no value at all now. Not even 10 cents. And also mark my words the unfolding REEF drama will be a copy book VANIK where the shareholders will ultimately bite the dust.

Are you sure?

I am absolutely certain. How about you ? what is your view ?

Similar to you.
Presently I'm not holding. - zero.
One time in 2011 I earned considerable amount from this share.
That's all.

amilaela · 7 Re: REEF W0018 Conversion Date Mon Apr 23, 2012 8:42 pm

amilaela

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Don't Buy any kind of warrents from CSE which cause to disaster....

sahan8896 · 8 Re: REEF W0018 Conversion Date Mon Apr 23, 2012 10:31 pm

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There were not of debate and many buy recommendations of reef.Some told they are collecting.Lucky i didn't enter.Everyone will be on huge loses now.Never buy warrants and Rights in CSE.LDEV .10 cents no buyer.Now SCAP and MGT comfortably on .10 cents.Surely tomorrow there want be a buyer.Rights and warrants deadly dangerous.

DK · 9 Re: REEF W0018 Conversion Date Tue Apr 24, 2012 9:57 am

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Glad that someone asked this question, I remember some one saying that deleted has some 20% something of the whole of warrants offered. Don't know if that is still the same.

hariesha · 10 Re: REEF W0018 Conversion Date Tue Apr 24, 2012 10:42 am

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As share price is below 30/- all reef.18 do not have any value and will expire in next month. Deleted. through Emage Wise own 32% as at 31st Dec. On 20th Jan. they purchased more than 1M warrants between 16-17.5. Will be a hefty blow for them, if they couldn't raise money.

But when W17 converted in last year, unlike in GREG Emagewise fully subscribed and applied for additionals. This time also they will subscribe fully and even take the additionals which will take them to close to 51% ownership. If they didn't subscribe all money they spent for the purchase of warrants from the market will be in waste.
But no one else will subscribe for sure, unless something dramatic happened in next few days.

sahan8896 · 11 Re: REEF W0018 Conversion Date Tue Apr 24, 2012 10:59 am

sahan8896

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sahan8896 wrote:There were not of debate and many buy recommendations of reef.Some told they are collecting.Lucky i didn't enter.Everyone will be on huge loses now.Never buy warrants and Rights in CSE.LDEV .10 cents no buyer.Now SCAP and MGT comfortably on .10 cents.Surely tomorrow there want be a buyer.Rights and warrants deadly dangerous.

As expected no buyers for MGT and SCAP.

Monster · 12 Re: REEF W0018 Conversion Date Wed Apr 25, 2012 12:51 pm

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Will they postpone the conversion date as GREG did? Unless there is a price movement of normal share, the conversion is going failure or the parent company has to convert rest of the warrants.

sapumal · 13 Re: REEF W0018 Conversion Date Wed Apr 25, 2012 1:01 pm

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Interesting to see what is the reaction from Tharana Gangul Thoradeniya. He is a director and CEO of RCL. He purchased lot of w18 above 20. Also Emagewise purchased 10% of warrants from the market. They might suffer from heavy losses

2011_NewComer · 14 Re: REEF W0018 Conversion Date Wed Apr 25, 2012 8:16 pm

2011_NewComer

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Monster wrote:Will they postpone the conversion date as GREG did? Unless there is a price movement of normal share, the conversion is going failure or the parent company has to convert rest of the warrants.

I think with the new SEC rule, they can't postpone the conversion of warrants anymore.

http://www.sec.gov.lk/?p=3767&lang=en

DK · 15 Re: REEF W0018 Conversion Date Thu Apr 26, 2012 9:29 am

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2011_NewComer wrote:

Monster wrote:Will they postpone the conversion date as GREG did? Unless there is a price movement of normal share, the conversion is going failure or the parent company has to convert rest of the warrants.

I think with the new SEC rule, they can't postpone the conversion of warrants anymore.

http://www.sec.gov.lk/?p=3767&lang=en

Actually they can. What SEC prohibited was to keep on trading them. So by the announced cut-off date, the warrants will stop trading. The company can decide to postpone the conversion, up to a later date. So the conversion would happen later, but you cannot trade it.

rijayasooriya · 16 Re: REEF W0018 Conversion Date Thu Apr 26, 2012 10:00 am

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DK wrote:

2011_NewComer wrote:

Monster wrote:Will they postpone the conversion date as GREG did? Unless there is a price movement of normal share, the conversion is going failure or the parent company has to convert rest of the warrants.

I think with the new SEC rule, they can't postpone the conversion of warrants anymore.

http://www.sec.gov.lk/?p=3767&lang=en

Actually they can. What SEC prohibited was to keep on trading them. So by the announced cut-off date, the warrants will stop trading. The company can decide to postpone the conversion, up to a later date. So the conversion would happen later, but you cannot trade it.

Yes prohibition is on extending cut-off date on trading...not on extending conversion date

smallville · 17 Re: REEF W0018 Conversion Date Sat Apr 28, 2012 12:12 pm

smallville

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I've extraceted the following from the results they've published so far;

1) Emagewise has increased holdings by neary 2% and Mr. Raynr Silva has dumped ard 2.5%.
2) Interestingly Mr. Nima Perera appered using his Seylan Acc increasing his stake upto 8.37% from 1.74% a quarter ago.
Apart from it, he has entered from his private holding too (0.71% Blue highlighted)

Warrant 18 is not attractive at all, since it has no value REEF being in 26-27 range. And its also nearing its conversion date, June 15-30 of 2012. Unless REEF pass at least 40s before June, Warrant conversion might be a fiasco..

REEF W0018 Conversion Date Reef_t10

Slstock · 18 Re: REEF W0018 Conversion Date Sat Apr 28, 2012 12:31 pm

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smallville wrote:I've extraceted the following from the results they've published so far;

1) Emagewise has increased holdings by neary 2% and Mr. Raynr Silva has dumped ard 2.5%.
2) Interestingly Mr. Nima Perera appered using his Seylan Acc increasing his stake upto 8.37% from 1.74% a quarter ago.
Apart from it, he has entered from his private holding too (0.71% Blue highlighted)

Warrant 18 is not attractive at all, since it has no value REEF being in 26-27 range. And its also nearing its conversion date, June 15-30 of 2012. Unless REEF pass at least 40s before June, Warrant conversion might be a fiasco..

I believe warrant 18 conversion is at Rs 30. So I guess it has to pass Rs 30 to have value.

After greg, looks like some Reef warrant holders know what mean to loose 90% in 2 months! Sad.

Radika Silva · 19 REEF.W00018 Sad Story Sun Apr 29, 2012 8:14 pm

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Lot of people exit from REEF.W0018. Will it come further down? Some research people from reputed firms say it will reach 0.1 as and trigger the price there. Will it happen In that case no one will be able to sell the quantities if the buyers are not in the market. Market does not allow to trade bellow 0.1.

What do you say?

smallville · 20 Re: REEF W0018 Conversion Date Sun Apr 29, 2012 11:32 pm

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This has been discussed heavily on another thread too.. Pls search before you post..

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REEF W0018 Conversion Date

1 REEF W0018 Conversion Date Mon Apr 23, 2012 1:19 pm

jkp

2 Re: REEF W0018 Conversion Date Mon Apr 23, 2012 5:34 pm

sapumal

3 Re: REEF W0018 Conversion Date Mon Apr 23, 2012 6:26 pm

illuminati

4 Re: REEF W0018 Conversion Date Mon Apr 23, 2012 7:32 pm

Redbulls

5 Re: REEF W0018 Conversion Date Mon Apr 23, 2012 7:49 pm

illuminati

6 Re: REEF W0018 Conversion Date Mon Apr 23, 2012 8:00 pm

Redbulls

7 Re: REEF W0018 Conversion Date Mon Apr 23, 2012 8:42 pm

amilaela

8 Re: REEF W0018 Conversion Date Mon Apr 23, 2012 10:31 pm

sahan8896

9 Re: REEF W0018 Conversion Date Tue Apr 24, 2012 9:57 am

DK

10 Re: REEF W0018 Conversion Date Tue Apr 24, 2012 10:42 am

hariesha

11 Re: REEF W0018 Conversion Date Tue Apr 24, 2012 10:59 am

sahan8896

12 Re: REEF W0018 Conversion Date Wed Apr 25, 2012 12:51 pm

Monster

13 Re: REEF W0018 Conversion Date Wed Apr 25, 2012 1:01 pm

sapumal

14 Re: REEF W0018 Conversion Date Wed Apr 25, 2012 8:16 pm

2011_NewComer

15 Re: REEF W0018 Conversion Date Thu Apr 26, 2012 9:29 am

DK

16 Re: REEF W0018 Conversion Date Thu Apr 26, 2012 10:00 am

rijayasooriya

17 Re: REEF W0018 Conversion Date Sat Apr 28, 2012 12:12 pm

smallville

18 Re: REEF W0018 Conversion Date Sat Apr 28, 2012 12:31 pm

Slstock

19 REEF.W00018 Sad Story Sun Apr 29, 2012 8:14 pm

Radika Silva

20 Re: REEF W0018 Conversion Date Sun Apr 29, 2012 11:32 pm

smallville

21 Re: REEF W0018 Conversion Date

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