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Cliq oh Cliq

Credit suisse keep acquiring this share, why???



CLIQ as of today cash at hand:

67.5 cents (90 % of IPO 75 cents)

Current price; 61 cents

What is CLIQ SPAC???

CLIQ Energy the 2nd SPAC (Special Purpose Acquisition Company) was listed on 10 April 2013 and has 3 years to identify a qualifying asset (QA) in the Exploration and Production (E&P) segment of the O&G value chain. The IPO price of the stock was 75 sen with a free warrant (exercise price: 50 sen) which last closed at 60 and 23 sen respectively, or a total of 83 sen.

How it works: 

Once a qualifying asset (QA) is found an EGM to vote on the worthiness of the QA will be held. Shareholders of CLIQ who vote against the acquisition, will receive 90% their funds back, 7 market days after the completion of a qualifying acquisition. Hence a base case return for CLIQ is 67.5 sen (90% of 75 sen IPO price) if investors votes against, assuming interest return offsets taxes and distribution expenses. The IPO funds are in an interest bearing account with Deutsche Trustees Malaysia Berhad. The warrants CAN NOT be exercised before the qualifying acquisition is made, hence there will be no dilution to the base case return for dissenting shareholders.



5234    CLIQ    CLIQ ENERGY BERHAD
Changes in Sub. S-hldr's Int. (29B)
Particulars of Shareholder
Name : Credit Suisse Group AG
NRIC/Passport No./Company No. : CH-02039060759
Nationality/Country of Incorporation : Switzerland
Address:
Paradeplatz 8

CH-8001

Zurich

Switzerland
Descriptions (Class and Nominal Value):
Ordinary shares of RM0.01 each
Name and Address of Registered Holder:
You are advised to read the full announcement at http://www.bursamalaysia.com.
Details of Changes
Date of Notice : 03/12/2014
Transactions:
No. Date Transaction Type No of Shares Price (RM)
1. 28/11/2014 Acquired 2,000,000 -
Circumstances by reason of which change has occurred: 
Deemed interests through open market investment position taken in the course of

ordinary business in banking and finance
Nature of Interest:
Deemed interest
Consideration:
 
No of Shares Held After Changes:
Direct : 0 shares (0.0000%)
Indirect/Deemed Interest : 39,528,600 shares (6.2650%)
Total : 39,528,600 shares
Remarks:
N/A
Submitted By:
 

03/12/2014   07:00 AM 
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