The Board of Directors of Eduspec Holdings Berhad wishes to announce that all the resolutions as set out in the Notice of the Extraordinary General Meeting ("EGM") dated 18 July 2019 were duly passed by the shareholders of the Company present at the EGM held on Friday, 9 August 2019.
All the resolutions were approved by way of voting by poll and the results were validated by Scrutineer Solutions Sdn Bhd, the Independent Scrutineer appointed by the Company.
What is this means?
Shareholders, who buy the stock before the Ex-date (which will be determined later) will entitle for free warrants.
What would happen to the price?
The resolution for free warrants were approved as expected. In other words, the share price could make a correction as it has already priced in the positive news. Therefore, SELL on news
Technical analysis wise, dark cloud cover candle pattern is seen potential further downside because of selling pressure. The selling pressure will come from force selling from contra players and PDT, who bought at peak 6.5-7.5sen last Wednesday and Thursday. RSI & Stochastic are also retracing. Avoid for good.