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Yang Zhongli and his mother announced at the end of January the issuance of "non-trading warrants", coinciding with the debut of DEEPSEEK, causing the stock price to plummet, disappointing investors. Some small shareholders urged Yang Zhongli Group's leader Dato' Sri Michael Yang to change the "non-trading warrants" to "tradable warrants".
Yang Zhongli Institutions (YTL 4677) and Yang Zhongli Electrical Utilities (YTLPOWR 6742) announced last month the distribution of "non-trading warrants" at a ratio of 5 to 1, which can be discounted and converted into the parent stock within three years.
This fundraising plan faced strong opposition from institutional investors, forcing some fund managers to sell their holdings in order to comply with internal trading regulations.
According to my understanding, the trading SOP of some funds prohibits the purchase of non-trading securities, therefore, shares must be sold before the plan deviates, causing a sharp drop in stock price.
The latest stock price of Institutions Yang Zhongli is RM1.89, falling by more than 30% compared to the pre-announcement stock price of RM2.39; the latest stock price of Electrical Utilities Yang Zhongli is RM3.04, dropping by over RM1.00 compared to the pre-proposal of RM4.05.
A senior investor pointed out that small shareholders should now collectively write to the public relations department of Yang Zhongli Group to express strong dissatisfaction and opposition to the company's plan regarding the warrants.
Retail investors should also take autonomous action to complain to the Malaysian Exchange about the unfairness of the token plan by the Yang Zhongli Group towards small shareholders.
At the same time, small shareholders should actively attend the Extraordinary General Meeting (EGM) of Yang Zhongli and his mother, cast dissenting votes, and prevent major shareholders from doing so.
Small shareholders...