Food Junc   

Food Junction to RALLY in 2013...Closed $0.205

Hi octavia,
Newbie here, can explain the implication? Means auric is selling all their stake? Or they buying?

 

Auric Group has an offer to take Food Junction private, at an offer price of $0.255 (40% above last traded price of $0.182) per share. The offer price represents a premium of ~34.2% to the NAV per share of $0.19 as at 31 Dec 2012.

 

FOOD Junction Holdings has reported a loss after tax of $6.9 million for the full year ended Dec 31, 2012, compared with a net profit of $0.9 million the previous year.

This was attributed to a $5 million impairment loss on intangible assets arising from the acquisition of Malones Holdings, operator of Malone's American Cafe, in October 2008 that has performed below expectations, and pre-operating costs of new F& B restaurants.

Loss per share was 5.67 cents against earnings per share of 0.65 cent the previous year. Net asset value at the group level was 18.82 cents per ordinary share as at Dec 31, 2012, compared with 24.78 cents the previous year.

Revenue for the year increased 3.3 per cent to $57.5 million, mainly due to a new stream of revenue from new restaurants that were in operation in 2012.

 

DO WATCH FOR IT TML

 

CLOSED $0.205  569,000 shares change hand

 

Breadtalk may be keen in taking a new stake in FOOD JUNCTION.

 

What is the expected news that will move up?

longterminvestor      ( Date: 02-Jan-2013 18:10) Posted: Food Junction to RALLY in 2013...Closed $0.205

 

Food Junction to RALLY in 2013...Closed $0.205