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LMA - Share buy-back & Interim Dividend
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moneymatters
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25-Apr-2011 09:23
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Looks like institutional funds are flowing back into this counter. New Malaysian plant is up and running. Litigation pain is over. Global leadership reinstated. 1st Q 2011 results should be out soon. Expect further positive news flow soon. |
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hikitty
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25-Feb-2011 23:49
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This damned share was listed at 80 cents each. It has been below par for many years. It is easy to fathom why anyone would want to sell below 36cents - because there are always cash-strapped sellers every day. It is difficult to fathom why it has been below par for such a long time though it has been profitable all along. Temasek sold all its allotment not long after it rose to more than $1 each. What is the long term prospects, say. for the next three years, of this underperformer? |
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bsiong
Supreme |
05-Jan-2011 11:08
Yells: "The Greatest Wealth is Health" |
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LMA International N.V. (“LMA”) announced its acquisition, through its subsidiary LMA North America, Inc (“LMANA”) of Wolfe Tory Medical, Inc (“WTM”) a Salt Lake City , Utah , USA-based manufacturer and distributor of medical devices. LMA International had earlier advised on 20 December 2010 that it was in advanced negotiations. The cash consideration for the Acquisition amounts to US$13.1 million, plus additional deferred payments based on the 2012 trailing sales of two new innovative products that will be introduced in 2011. Subsequent to the Acquisition, WTM is now a subsidiary of LMANA. The Acquisition does not include Wolfe Tory Medical’s critical care product, AbViser, as this is not part of LMA’s target market. |
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moneymatters
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03-Dec-2010 02:50
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Hard to fathom why would anyone want to sell below 0.36 when there is already a firm buy back offer. |
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moneymatters
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26-Nov-2010 00:42
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MEDICAL equipment maker LMA International has set aside up to US$14 million for a share buy-back through which it aims to acquire up to 10 per cent of each shareholder's stake for $0.36 a share. And the group plans to declare an interim dividend of one cent per share for the financial year ending Dec 31, 2010, in line with its aim to reward shareholders. LMA's counter rose on yesterday's announcement, gaining four cents to close at 32 cents. According to group chairman Trevor Swete, the off-market buy-back will allow the group to reward shareholders by distributing some of LMA's cash and enhancing the company's earnings per share. The acquired shares will be held in treasury to be used either under its employee share schemes, as currency for strategic acquisitions, placements to new investors or cancelled. 'It will better position the group to make targeted acquisitions using treasury shares and strengthen our investment in people,' Mr Swete said. 'Alongside this initiative, we are increasing our investment in human capital as well as research and development, with a view to realising the opportunities afforded by a growing market for single-usage airway management devices in the Asia-Pacific.' LMA designs, makes and distributes medical equipment - mostly laryngeal mask airway products that are used to provide ventilation to patients undergoing surgery. The group estimates that about one-third of worldwide operations under general anaesthetic employ LMA products, which suggests there is additional room for growth. LMA recently set up a manufacturing base in Penang, which should result in substantial cost savings, especially as it sees Asia-Pacific as a key growth area, chief executive William Crothers said at a media briefing yesterday. 'The Asia-Pacific and Latin America is where our focus is and we're getting solid growth (there),' he said, adding that while growth of 300 per cent is often the norm in China, a similar hot pace is much harder in markets such as the US. Commenting on mergers and acquisitions, Mr Crothers said that LMA is in talks, but that any such move has to be synergistic. LMA also plans to boost its focus on R&D to strengthen its core business, support future growth and trim costs. For the financial year ended Dec 31, 2009, LMA posted net income (excluding non-cash charges) of US$9.8 million, versus US$10.2 million a year earlier. It clocked group net sales of US$107.6 million in FY2009. The share buy-back, which is open until Dec 29, was approved by shareholders at a recent extraordinary general meeting. LMA expects to make payment for the offer on Jan 17, 2011, and to pay the interim dividend on Feb 1, 2011. The formal offer letter setting out the terms and conditions of the offer will be sent to shareholders on Nov 30. |
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