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Yes. You still have the rights entitlement if you sell only on Wed when it turns XR. But, you must eventually subscribe at $0.59 to own the rights units during the application and subscription date (see their rights announcement on SGX). The trade off to selling on Wed is that it's main unit price will decreased since everyone that shares the same mentaility as you will also want to sell, so there is selling pressure that is inevitable.
Hi,
I am vested in this counter. If I held until xr ,..and decided to sell, say on Wednesday, I would still get the rights, right, even thot on Wednesday, I am no longer holding the mother share. Kindly educate.
Thanks,
vested heavily in this counter from 60-90 cents from October 2008- March 2009...will subscribe excess for all rights...profit comes faster than i thought...good luck :)
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I will subscribe the rights (vested in the last six months) and money ready in the bank now...believe the timing of the new issued share in July (if in August i will not be so confident) will be right for profit...good luck :) |
Hmm... I always tot it was the px at the point when they announced. But anyway, thks for the clarification.
That Theoretical Ex-Right Price (TERP) is just an academic number, its price follows a formula depending on the share dilution and the rights issue. since this one is 1 for 1 so 100% dilution, the formula is thus :
(market price +0.59)/2=TERP (at that market price)
when CCT made decision, they used the lastest closing price of 1.06, thus TERP (at1.06)=0.825
OCBS reports said their estimate fair value is 1.33 thus TERP(at 1.33)= 0.96.
TERP (at 1.20)=0.895
TERP ( at 1.30) =0.945
TERP (at 1.40)= 0.995
and so on, so just treat this as number based on this formula.. so everyone is correct lah.
E-war ( Date: 01-Jun-2009 11:34) Posted:
Thks, but I was asking for the theoretical ex-Rights price which shld be S$0.825 per unit.
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Thks, but I was asking for the theoretical ex-Rights price which shld be S$0.825 per unit.
OCBC puts ex-Rights fair value will be S$0.96. Refer to the website to see more:
http://www.ocbcresearch.com/Article.aspx?type=research&id=20090525090351_85985
E-war ( Date: 01-Jun-2009 03:31) Posted:
Sorry, shld the ex-Rights px be 0.895 or 0.86?
Quantico ( Date: 31-May-2009 16:58) Posted:
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All shares (old and new) entitled to distribution wef 010109. DPU post rights is 5.91 cents. (refer to rights announcement).
At 0.86 (theoritical ex-rights price) , the yield is 6.87%.
The DPU for 2008 is 11.0 cents. This rights issue highly dilutes the DPU. |
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Sorry, shld the ex-Rights px be 0.895 or 0.86?
Quantico ( Date: 31-May-2009 16:58) Posted:
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All shares (old and new) entitled to distribution wef 010109. DPU post rights is 5.91 cents. (refer to rights announcement).
At 0.86 (theoritical ex-rights price) , the yield is 6.87%.
The DPU for 2008 is 11.0 cents. This rights issue highly dilutes the DPU.
dealer0168 ( Date: 31-May-2009 11:44) Posted:
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So does that mean, those RIGHT share can only be entitled divi next yr. But for the current CCT share that i currently hold, i still able to get the Divi this year July09 ....correct?.......
Can help elaborate on it? Thks. |
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Quite a few companies have raised cash during this time using for various means. But think of it in another way. What companies are doing through by raising cash through RIGHTs might not neccesarily be a bad thing for the future. By raising cash, their net borrowing decreases. And if they make good use of the money obtained from RIGHTS to further expand their business, actually this dilution may not be a concern.
Company perform, profit will be more, & we investor will get more. I strongly believe CCT will make good use of the money fr RIGHTS.
All shares (old and new) entitled to distribution wef 010109. DPU post rights is 5.91 cents. (refer to rights announcement).
At 0.86 (theoritical ex-rights price) , the yield is 6.87%.
The DPU for 2008 is 11.0 cents. This rights issue highly dilutes the DPU.
dealer0168 ( Date: 31-May-2009 11:44) Posted:
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So does that mean, those RIGHT share can only be entitled divi next yr. But for the current CCT share that i currently hold, i still able to get the Divi this year July09 ....correct?.......
Can help elaborate on it? Thks.
jeremyow ( Date: 31-May-2009 00:59) Posted:
| Yes, there is going to be dividend / distribution for this year. However, the amount of dividend/ distribution available per unit of CCT units most likely will be reduced due to the dilution effect of the rights issue. New investors getting the rights units will be entitled to the dividends/ distributions given out by CCT for this year starting from 1 Jan 2009. |
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So does that mean, those RIGHT share can only be entitled divi next yr. But for the current CCT share that i currently hold, i still able to get the Divi this year July09 ....correct?.......
Can help elaborate on it? Thks.
jeremyow ( Date: 31-May-2009 00:59) Posted:
| Yes, there is going to be dividend / distribution for this year. However, the amount of dividend/ distribution available per unit of CCT units most likely will be reduced due to the dilution effect of the rights issue. New investors getting the rights units will be entitled to the dividends/ distributions given out by CCT for this year starting from 1 Jan 2009. |
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Yes, there is going to be dividend / distribution for this year. However, the amount of dividend/ distribution available per unit of CCT units most likely will be reduced due to the dilution effect of the rights issue. New investors getting the rights units will be entitled to the dividends/ distributions given out by CCT for this year starting from 1 Jan 2009.
There should be NO DOUBT about dividend, which is otherwise known as DPU or distribution per unit in REITS. The unique feature of Trust is set up so that the trust manager will distribute a substantial amount of its earning as DPU to shareholder. Thus REITs are meant to be 'income generating' type of investment.
Read their most recent document, copy here:
Status of the Rights Units
CCT’s current policy is to distribute its distributable income on a semi-annual basis to Unitholders.
The Rights Units will, upon allotment and issue, rank pari passu in all respects with the existing
Units in issue as at the date of issue of the Rights Units, including the right to any distributions which
may accrue for the period from 1 January 2009 to 30 June 2009 as well as all distributions thereafter.
Not sure if CCT will give Dividend this coming July09. According the past record as shown below, there should be.
Hope CCT do a Capitaland, remember capitaland still give out Divi even after issuing RIGHTs.
Have divi , that will be best.
| Company Name |
Type |
Expiry Date |
Record Date |
Date Paid/Payable |
Particulars |
Today hata-taki. Same price as yesterday.
Emm got few days wait , b4 we can subscribe the RIGHT.
Hope all people who own CCT share huah ah huah ah.....
Time table for important dates
Last day of Cum Rights : Tues 2 June
Ex-rights: Wed 3 June
nil-paid rights trading period : Wed 10 June to Thur 18 June
Closing date Wed 24 June ( remember this is for CASH account, those with CPF account call your agent bank, their date is earlier)
Expected date for issue of Rights Units: Thur 2 July
I will subscribe the rights (vested in the last six months) and money ready in the bank now...believe the timing of the new issued share in July (if in August i will not be so confident) will be right for profit...good luck :)
Today still go up up, while alot goes down. Good sign. People are rushing to collect it now.
It is just their formality to get SGX approval first before this thing showed up. Read their announcement last night, SGX in principle approval. So today you see what you want to see the CR remark.
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But
doesn't seem like it, b'cos there's no indication that the Cum-Rights
is going on at the stock counters. There should be a "CR" on the
counter.
Neither is there any indicated on the SGX web site.
Anyone can advise? |
ic, thanks for the help :)
Alligator ( Date: 28-May-2009 10:40) Posted:
Yes..that is why i say now it is trading Cum RIghts, and it is better to consider buy now, rather than wait till nil paid rights is traded
lionsword87 ( Date: 28-May-2009 00:27) Posted:
| ic .. so asssume the nil-paid is trading @ $0.305, the toal cost of purchase would add up to $0.305 + 0.59 + commission(+) = $0.895 ++ ? |
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