Mitra Warrants: Expiry date: Feb 11,2011; Exercise price: 1.80; Last traded at 0.13
Mitra has been in the news lately. Since the announcement of procuring a contract valued at RM53,500,000 to be completed in 10 months time, effective from Jan 01, 2011, the stock price has been moving up. At the time of posting this post, it is done at 1.75.
It is rumored that the price will be pushed up to RM2.00 before the expiry date of the warrants to encourage the conversion of the warrants into ordinary shares. Does this make sense to you? Think about it.