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Stock at 0.07, Cash Distribution at 0.08!!!
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wongmx6
Veteran |
31-Mar-2010 21:18
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Payment of 8 cents per share is likely but after this payment the company has not much left over, close to zero. Please bear in mind the charges for buying and selling of this share. I guess not much meat left over.
5.5.4 Proposed use of proceeds from the Proposed Divestment We recommend that the Independent Directors advise Shareholders to read section 2.15 of the Circular carefully. Subsequent to the Proposed Divestment and following the Proposed Capital Reorganisation, the Company will distribute an amount from its contributed surplus account based on S$0.08 per share or an amount of approximately RMB450.0 million in total back to Shareholders. The amount of RMB450.0 million represents approximately 88.5% of the gross proceeds from the Proposed Divestment and 96.0% of the estimated net proceeds from the Proposed Divestment. Further, we note that the Proposed Distribution of RMB450.0 million represents approximately 95.0% of the Company’s unaudited NTA as at 31 December 2009 and approximately 77.7% of the Subsidiaries’ adjusted unaudited NTA as at 31 August 2009
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blackstreams
Senior |
31-Mar-2010 20:24
Yells: "virtus; patiens; felicitas" |
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Great to see sentiment is better today regarding this stock. Kingster is right, dividend is $0.08 and its posted on the SGX. Moment of truth is next week. Price has bounced between 0.075 and 0.08. If the SGM passes the motion for the one-off dividend, I reckon the 0.08 resistance will vanish in a flash. Since the Remisier King Peter Lim has a big stake in this company, I decided to pitch in and am vested 50 lots, keeping rest of my bullets for Citi. Good luck all. | ||||
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knightrider
Elite |
31-Mar-2010 17:59
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So keep buying-in if got cash ! As I hold on to my 5 lots since many yrs ago, kana stuck. Good Luck. | ||||
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tonylim
Master |
31-Mar-2010 17:51
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Great and thanks for the clarification. I just cant wait to collect my $800 dividend.
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ppdghius
Member |
31-Mar-2010 16:59
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Each share is $0.08 not 0.08 cents 1000 share is $80 10000 share is $800 |
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tonylim
Master |
31-Mar-2010 16:24
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It depends on whether you are talking about dividend after capital reduction- then you are correct. If based on current share value, it is 0.08 cents. Example : 10,000 shares X 0.08 = $80/= before capital reduction 1,000 shares x 8 cents = $80/= after capital reduction by a factor of 10
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knightrider
Elite |
31-Mar-2010 16:19
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As I write it, correct me if I am wrong, it is S$0.08 X 10000 (10 lots) = S$800 ! Good Luck
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kingster
Senior |
31-Mar-2010 16:13
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Like i said before, do not comment if u did not do ur homework and mislead pple... pls see below extract from sgx website:
The issued share capital of the Company be and is reduced from HK$115,846,075.40 divided into 1,158,460,754 Shares of par value HK$0.10 each, to HK$11,584,607.54 divided into 1,158,460,754 Shares of par value HK$0.01 each, by cancelling the paid-up capital of the Company to the extent of HK$0.09 on each Share such that the par value of each Share be reduced from HK$0.10 to HK$0.01 ( (b) The par value of each Share be and is reduced from HK$0.10 each to HK$0.01 each, resulting in the Company’s authorised share capital being HK$2,000,000,000 divided into 200,000,000,000 Shares of HK$0.01 each; (c) Upon the Proposed Capital Reduction taking effect, the credit amount of RMB133,589,700, arising from the Proposed Capital Reduction be and is transferred to the contributed surplus account and applied to cancel and reduce the share capital of the Company which is lost or unrepresented by available assets ( from RMB306,596,172 to RMB172,951,700 and the Directors (or any one of them) be and are hereby authorised to utilise any credit balance in the contributed surplus account of the Company in accordance with the Bye-laws of the Company and all applicable laws to further write-off the Accumulated Losses completely; (d) Upon the completion of the above write-off of the Accumulated Losses to zero, the Company be and is authorised to make a cash distribution of S$0.08 for each Share held at the Capital Distribution Books Closure Date Proposed Capital Reduction).Accumulated Losses)
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tonylim
Master |
31-Mar-2010 16:09
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It is not 8 cents per share - it is 0.08 cents or $0.0008. They are different
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kingster
Senior |
31-Mar-2010 16:07
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for all who are interested, i have already posted the links to ALL details posted in SGX. the div is 8 cts! the title is correct... so pls do some homework before commenting... yes it is interesting to see why they do not want to buy back the shares... my guess is some of the major shareholders are on the board and wish to get the money themselves too... i donno... a wild guess... anyway we shall see... | ||||
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moneycow
Master |
31-Mar-2010 15:57
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If the company indeed proposed to pay 8 cents per share to holders...........might as well, they buy back their own share with the money they intend to pay out......... That way they can increase the assets/value. If lost, and agree to pay even 1 cents- shareholder should be so happy already. Many company make big profits but no payout devidents such as DMX and Oceanus :) |
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knightrider
Elite |
31-Mar-2010 15:51
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Here u are talking of S$0.008 x 10000 = S$80 ! Read carefully, the meeting agenda is talking of S$0.08 x 10000 = S$800. Correct me if I am wronged. Good Luck
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yummygd
Supreme |
31-Mar-2010 15:50
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OH RIGHT!!!!! Its less den one cent wor. its not 8 cent but 0.008 cent. so unless bought the shares at 0.005 cent which is the lowest a stock price can go den make...if not its a loss. |
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moneycow
Master |
31-Mar-2010 15:49
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The subject of this one is very very misleading...........
How can compare 0.07 with 0.08 and left out the key - CENTS behind..it makes it sounds as if its paying 8 cents . In actual fact is that its proposed to pay 0.08 cents. 0.08 cents is 100 times lesser than 8cents. :)
"Stock at 0.07, Cash Distribution at 0.08!!!"
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moneycow
Master |
31-Mar-2010 15:41
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HELLO ! 0.08 cents and $0.08 is around 100 times difference !!! 0.08 cents is 100 times lesser than 8 cents. 7.5 cents per share - gets 0.08 cents dividents/share. mean, for every 10 lots , you get $80 |
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Hulumas
Supreme |
31-Mar-2010 15:30
Yells: "INVEST but not TRADE please!" |
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Is it free lunch or dinner?
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kingster
Senior |
31-Mar-2010 15:15
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all i can say is, the company got approval to remain listed after the div payout. they also has provided a very clear summary on where the money to pay the div is coming from. and if i understand it correctly, they already got most of the money from the sales of their unit. of cos if they lie abt anything or the notion dont get passed next wed, then too bad for pple like us who are vested. well, it is a risk and i took it... gd luck to those who decided to jump in also :) | ||||
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yummygd
Supreme |
31-Mar-2010 14:51
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i am not sure la thats why still not in yet. scared later say we are closing ....den die..wanna run also cannot
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AnthonyTan
Elite |
31-Mar-2010 14:13
Yells: "patience" |
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Understand that the co. will still function as per normal, hahaha
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renzokun
Senior |
31-Mar-2010 14:10
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one question, is this company gona delist or shut down 
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