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is a golden opportunity not to miss out. soon u will see it rises to 70 cents and above..
merlin_magic ( Date: 19-Dec-2012 09:18) Posted:
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it will move up to 70 cents at the very minimum....Maybe I should load more... See the below extract from Bloomberg news
The Macquarie fund typically buys majority or substantial interests in infrastructure businesses that allow it to gain influence or control over them.
“It’s a positive move as investors should now get the net asset value or a premium to NAV,” Sandy Mehta, chief executive officer of Value Investment Principals Ltd., said in a phone interview yesterday. “With the regular and special dividend, the payout should be between 6 cents and 8 cents.”
The asset sales could result in a payout of between 75 cents and 80 cents, he estimated. Mehta bought the Macquarie fund’s units this year,
The usual 2.75 cents of interim dividend will come in March, only thing is that we do not know exactly how much
is consider as excess cash to be given as special dividend. Anyway, it should move toward the NAV of $0.72 in the next 3 months.
Cheer to those still holding it!
that is super gd! just went in to buy at 62 cents tdy. if price come down at least still has gd dividend to collect..
merlin_magic ( Date: 18-Dec-2012 17:09) Posted:
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It is mentioned in a SIAS report that the cash distribution could be 26 cents for FY 2013
that would be very nice :)
cfm usual dividend of 2.75 cents to be paid out in early 2013 + special dividend of i think at least 5 - 10 cents to be paid out from existing cash-on-hands.
Bought back at 61.5 cents as I believe the share price will go up once the special dividend is finalized..
In short, sold at 62.5 cents and bought back at 61.5 cents. still have my old batch at 58 cents....
i was in earlier at 54c, gotten one round of their good div, i think i will wait a while... hope i am making a sensible choice
Sold at 62.5 cents...bought at 58.5 cents...Sell first.....Then talk later.... haha
ok found the news:
Macquarie International Infrastructure Fund Limited (MIIF) will pay out cash, divest CXP, Maoli and Hua Nan Expressway
The Strategic Review, which included an assessment by CIMB Bank Berhad, Singapore
Branch (CIMB) and consultation with a cross section of shareholders, generated the
following key observations:
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MIIF’s current share price does not adequately reflect the value of MIIF’s infrastructure businesses
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MIIF’s current structure may not be the most appropriate structure to reflect the value of its businesses
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Taiwan Broadband Communications (TBC), Changshu Xinghua Port (CXP) and Hua Nan Expressway (HNE) are each generating sustainable cash distributions which underpin their respective values
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Executing MIIF’s stated strategy of investing directly in operating Asian infrastructure businesses is constrained by MIIF’s current share price and the prevailing market environment.
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After considering the above observations and assessing the alternatives available to MIIF, the Board has concluded that in order to maximise value for MIIF’s shareholders the strategy for MIIF should change.
As a result, the Board has decided to undertake the following initiatives:
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Distribute existing excess cash to shareholders as a one-off special dividend
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Commence a joint process with Macquarie Korea Opportunities Fund (MKOF), MIIF’s TBC co-shareholder, to realise maximum value for their investment in TBC
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Pursue the orderly divestments of MIIF’s interests in HNE, CXP and Miaoli Wind
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Distribute the proceeds from any divestment to shareholders as soon as practicable
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Allow MIIF’s corporate-level debt facility to lapse upon maturity
These initiatives have been formulated with a focus on maximizing and returning value to MIIF shareholders. The Board will endeavor to execute these initiatives in a timely manner however, these initiatives involve complex processes which will require active management and prudent actions to safeguard the interests of MIIF shareholders.
The strategy will substantially alter the focus of MIIF. The Independent Directors of the Board have concluded that the change in MIIF’s strategy requires an amended approach to the arrangements with MIIF’s Manager
The Independent Directors will seek to restructure the Manager’s fee arrangements to realign the interests of MIIF and the Manager. The Independent Directors will seek appropriate independent advice with respect to its discussions with the Manager.
On 4 December 2012, MIIF announced the Board’s intention to appoint an additional Independent Director to the Board. MIIF’s Nominations and Corporate Governance
Committee has appointed global executive search firm, Spencer Stuart to assist with the search for the new Independent Director including canvassing the inputs from representatives from a number of MIIF’s major shareholders
this counter just gain 5%... any news? was as high as 64cts
I was against resolution 1 and pro for resolution 2, 3 and 4.
IPO price is $1, first day close at $1.14.
What's the ipo price many years ago...recalled selling off on first day...
merlin_magic ( Date: 30-Nov-2012 10:28) Posted:
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Done...Bought at 58.5 cents...Attracted by the dividend yield and the BOD infighting... All my khakis have bought between 56.5 cents to 58.5 cents...
Current director only hold 0.45% of the company share that is why the shareholder benefit is never being consider. The resolution should have with the same no. of director, but each director to be kick off from the board of the director if additional director is dominated in.
I will decide on that day, they said that each additoinal director will cost about US$100k. I also wanted to be a non-executive director, so good money.
Anyway, 2 major shareholders fighting for the control will going push up the share price as they have to buy more shares to gain more control. I think the fight will go all the way to the next AGM.
Now waiting it to break $0.6.
I don't vote for existing director nor chairmen recommendation as reason given really make me laught.
Have you decide which side to vote for?
oldflyingfox ( Date: 23-Nov-2012 11:42) Posted:
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