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Where you get the date from?
I read that this one suppose to release 4Q07 results today and it normally does it before market open. How come still no news..hmmm maybe results look ugly. Any comments to share anyone?
as expected after xd dropped <90cts ..room to drop further?
Babcock & Brown Structured Finance Fund Limited
2 January 2008
INVESTMENT IN EUROPEAN RAILCAR PORTFOLIO
Babcock & Brown Structured Finance Fund Limited (?the Company? or ?BBSFF?) today announced its commitment on 31 December 2007 to acquire a beneficial interest in 35% of the shares in Babcock & Brown Rail Investments Limited (?BBRIL?) from a wholly owned subsidiary of Babcock & Brown Group for a total consideration of EUR 5.645 million (S$11.940 million*) (inclusive of acquisition fees).
The Company has paid cash of EUR 4.384 million (S$9.273 million*) and has committed to invest a further EUR 1.261 million (S$2.667 million*) in early 2008 to fund BBRIL Group?s acquisition of an additional fleet of passenger trains now entering service in Germany under 12 year leases.
The price for the shares was calculated by reference to the value of the assets owned by BBRIL Group, which were valued by an internationally recognised appraiser of rail assets on behalf of BBSFF in November 2007. The valuer has conducted hundreds of rail asset valuations in continental Europe, North America and Australia, using a consistent methodology which gathers data, including lease rates, inflation rates, terminal values, new asset costs and discount rates to develop a valuation model. The price agreed by BBSFF for the BBRIL shares reflects 95% of the current appraised value.
BBSFF will use its Corporate Debt Facility to fund the acquisition.
The opportunity to be a foundation investor in BBRIL was noted in BBSFF?s Prospectus last year and builds out its investments in rail assets
to include continental Europe. Ms Wiggins, Managing Director of BBSFF?s manager stated, ?We are very pleased that BBSFF has invested in such a high quality company which owns a diverse portfolio of railcars on lease in mainland Europe. The diversity which this investment brings to BBSFF?s portfolio strengthens BBSFF as a company and allows BBSFF to continue to deliver yield with the potential for long term capital appreciation by investment in a business with extraordinary growth opportunities as we see Europe open its borders and attempt to get traffic off the roads. As BBRIL seeks to grow its portfolio of railcars BBSFF may consider making further investments.?
About BBRIL
BBRIL is a Guernsey company that owns CBRail Leasing S.a.r.l. (?CBRail Group?), an operating lessor based in Luxembourg and owner of a portfolio of 3 passenger train fleets, over 30 locomotives and 100 freight wagons. The assets are operated by both public and private sector operators in countries, including Germany, Belgium, Holland and Denmark.
The rail sector in Europe is seeing increasing demand for operating leasing, as the private sector takes advantage of increasing liberalisation of the market, and the ability to compete successfully for franchises in the regional passenger market, and against state incumbent operators for freight haulage contracts.
The Acquisition from Babcock & Brown Group
The acquisition of shares in BBRIL from Babcock & Brown Group is an interested person transaction as defined by the SGX-ST Listing Manual. Shareholder approval is not required because the value of the transaction together with all other interested person transactions entered into by BBSFF and its entities at risk with the Babcock & Brown Group in 2007 represents less than 5% of the BBSFF Group?s latest audited NTA1 of S$303.81 million as at 31 December 2006.
The Audit and Risk Management Committee (?Committee?) of BBSFF has formed the view that the transaction is on normal commercial terms and is not prejudicial to the interests of BBSFF and its minority shareholders. The Committee formed this view based upon the entire terms of the transaction, particularly noting that third party investors purchased shares in BBRIL on the same terms and conditions as BBSFF, at the same time as BBSFF made its investment and that BBSFF had received an
1 Net tangible assets.
independent appraisal for the underlying assets owned by BBRIL as set out above.
The current total of all interested person transactions entered into by BBSFF for the 2007 current financial year (excluding those transactions approved in connection with the IPO) is S$12.408 million, details of which are set out below:
Interested Person
Nature of Transaction
Value of transaction
(S$ million)
1.
Spirit Music Group, 2
Sub-publisher of certain Music catalogues owned by BBSFF
0.4683
2.
Babcock & Brown Group
Acquisition of beneficial interest in 35% of BBRIL
11.940
2 January 2008
INVESTMENT IN EUROPEAN RAILCAR PORTFOLIO
Babcock & Brown Structured Finance Fund Limited (?the Company? or ?BBSFF?) today announced its commitment on 31 December 2007 to acquire a beneficial interest in 35% of the shares in Babcock & Brown Rail Investments Limited (?BBRIL?) from a wholly owned subsidiary of Babcock & Brown Group for a total consideration of EUR 5.645 million (S$11.940 million*) (inclusive of acquisition fees).
The Company has paid cash of EUR 4.384 million (S$9.273 million*) and has committed to invest a further EUR 1.261 million (S$2.667 million*) in early 2008 to fund BBRIL Group?s acquisition of an additional fleet of passenger trains now entering service in Germany under 12 year leases.
The price for the shares was calculated by reference to the value of the assets owned by BBRIL Group, which were valued by an internationally recognised appraiser of rail assets on behalf of BBSFF in November 2007. The valuer has conducted hundreds of rail asset valuations in continental Europe, North America and Australia, using a consistent methodology which gathers data, including lease rates, inflation rates, terminal values, new asset costs and discount rates to develop a valuation model. The price agreed by BBSFF for the BBRIL shares reflects 95% of the current appraised value.
BBSFF will use its Corporate Debt Facility to fund the acquisition.
The opportunity to be a foundation investor in BBRIL was noted in BBSFF?s Prospectus last year and builds out its investments in rail assets
to include continental Europe. Ms Wiggins, Managing Director of BBSFF?s manager stated, ?We are very pleased that BBSFF has invested in such a high quality company which owns a diverse portfolio of railcars on lease in mainland Europe. The diversity which this investment brings to BBSFF?s portfolio strengthens BBSFF as a company and allows BBSFF to continue to deliver yield with the potential for long term capital appreciation by investment in a business with extraordinary growth opportunities as we see Europe open its borders and attempt to get traffic off the roads. As BBRIL seeks to grow its portfolio of railcars BBSFF may consider making further investments.?
About BBRIL
BBRIL is a Guernsey company that owns CBRail Leasing S.a.r.l. (?CBRail Group?), an operating lessor based in Luxembourg and owner of a portfolio of 3 passenger train fleets, over 30 locomotives and 100 freight wagons. The assets are operated by both public and private sector operators in countries, including Germany, Belgium, Holland and Denmark.
The rail sector in Europe is seeing increasing demand for operating leasing, as the private sector takes advantage of increasing liberalisation of the market, and the ability to compete successfully for franchises in the regional passenger market, and against state incumbent operators for freight haulage contracts.
The Acquisition from Babcock & Brown Group
The acquisition of shares in BBRIL from Babcock & Brown Group is an interested person transaction as defined by the SGX-ST Listing Manual. Shareholder approval is not required because the value of the transaction together with all other interested person transactions entered into by BBSFF and its entities at risk with the Babcock & Brown Group in 2007 represents less than 5% of the BBSFF Group?s latest audited NTA1 of S$303.81 million as at 31 December 2006.
The Audit and Risk Management Committee (?Committee?) of BBSFF has formed the view that the transaction is on normal commercial terms and is not prejudicial to the interests of BBSFF and its minority shareholders. The Committee formed this view based upon the entire terms of the transaction, particularly noting that third party investors purchased shares in BBRIL on the same terms and conditions as BBSFF, at the same time as BBSFF made its investment and that BBSFF had received an
1 Net tangible assets.
independent appraisal for the underlying assets owned by BBRIL as set out above.
The current total of all interested person transactions entered into by BBSFF for the 2007 current financial year (excluding those transactions approved in connection with the IPO) is S$12.408 million, details of which are set out below:
Interested Person
Nature of Transaction
Value of transaction
(S$ million)
1.
Spirit Music Group, 2
Sub-publisher of certain Music catalogues owned by BBSFF
0.4683
2.
Babcock & Brown Group
Acquisition of beneficial interest in 35% of BBRIL
11.940
Babcock & Brown Structured Finance Fund Limited
2 January 2008
ACQUISITION OF ADDITIONAL MUSIC COPYRIGHT ASSETS
Babcock & Brown Structured Finance Fund Limited (?the Company? or ?BBSFF?) today announced that on 31 December 2007, through a wholly owned subsidiary, it acquired additional music copyright catalogues for US$24.3 million (inclusive of fees and expenses) funded with debt of US$13.0 million.
The majority of the value of the assets acquired comprise master sound recordings and musical compositions written by Marc Bolan and performed by 1970?s group T.Rex, and includes approximately 600 compositions written by Allan Rich and performed by various artists.
This investment adds over 800 musical compositions and over 300 master recording copyrights to BBSFF?s existing portfolio, and brings BBSFF?s total investment in music copyright assets to US$55.0 million.
Mr Rich Umbrecht, Chairman of BBSFF stated, ?We are very excited about the acquisition of such a high profile catalogue, which adds further depth to the portfolio of assets now owned by BBSFF and delivers on our strategy of acquiring musical compositions which are yield accretive today and yet hold the potential for capital gain over time to our Shareholders? .
2 January 2008
ACQUISITION OF ADDITIONAL MUSIC COPYRIGHT ASSETS
Babcock & Brown Structured Finance Fund Limited (?the Company? or ?BBSFF?) today announced that on 31 December 2007, through a wholly owned subsidiary, it acquired additional music copyright catalogues for US$24.3 million (inclusive of fees and expenses) funded with debt of US$13.0 million.
The majority of the value of the assets acquired comprise master sound recordings and musical compositions written by Marc Bolan and performed by 1970?s group T.Rex, and includes approximately 600 compositions written by Allan Rich and performed by various artists.
This investment adds over 800 musical compositions and over 300 master recording copyrights to BBSFF?s existing portfolio, and brings BBSFF?s total investment in music copyright assets to US$55.0 million.
Mr Rich Umbrecht, Chairman of BBSFF stated, ?We are very excited about the acquisition of such a high profile catalogue, which adds further depth to the portfolio of assets now owned by BBSFF and delivers on our strategy of acquiring musical compositions which are yield accretive today and yet hold the potential for capital gain over time to our Shareholders? .
so end of CD, lets watch how it goes on 31 Dec Monday XD date.
After ex divid...likely to trade <90cts and remain there for a long time
2 more trade days for this to be xd.. The first XD it raise to 1.26 on 7 Jun. But look like the price right now not sure if it would reach that kind of level.
whao.. this fund back to >10% yield level even before Ex div. Wkly trend really look bad too.
The last time it was pushed to $1.24 b4 ex for interim dividend and went to $1.17 after ex after that it was down all the way to <$1.00.Better to switch to ARA now trading below $1 and <ipo price of $1.15
walker,
Ex-date is 31 Dec, that means if you have share, if you HOLD till 30 Dec, you keep the dividend.
on Ex-date, 31 Dec, the share price typically drop by amount similar to the dividend if all else remained unchanged.
lap1981, No, I did not hold at that time.
Yes, on XD, it is normal to see a drop equivalent to the amount of dividend if all else remained unchanged, there are other factors , market sentiment that affects the share price on the XD date.
Hi tiandi,
Which mean have to hold on to 4 Jan to get dividend? any would the share price be drop after the date?
Thanks.
Thx tiandi!
Was looking to add more BCB for the dividend gains. WAS confused when i read the 1st dividend annoucement.
Btw Tiandi, was you holding onto BCB when it XD for the 1st time.
1st XD was on 15 June 07 but the price of BCB opened lower by 4c on 15 June. Is it a norm?
walker,
1.Ex-Date means on that date the share trading will be EXCLUDE-Dividend, exclude-Rights, exclude-bonus , or whatever was announced.
2 Is ex-date the last day that we can buy so as to getting the dividend?NO,
if you want to get the dividend, you buy on CUM-DIVIDEND or CD period.
3. Buy in : this is for cases where SELLER sold shares but could not deliver to CDP when settlement date is due ( which is T+3), Then CDP shall purchase from so called BUY-IN market and close the trade on T+4).
Since you said you are new, please DO NOT sell when your CDP account has no shares or else you risk being Bought-In by CDP at higher price.
| Ex-date | 31 Dec 2007 |
| Buy-In Last Cum Date | 04 Jan 2008 |
| Record Date | 03 Jan 2008 |
| Date Paid/Payable | Mar 14 2008 |
Hi,
I'm a new player here. Don't really understand about "Ex-date" and "Buy-in Last Cum Date" Is ex-date the last day that we can buy so as to getting the dividend?
hi lap1981,
if you are holding the stock, and you want to collect dividend, then you must HOLD until the XD date.
if you are not holding the stock, and you want to buy and collect dividend, you must buy before the XD date.
Hi to all BCB supporters, just a question to ask:
Do I need to hold the stock for a period of 6 mths to qualify for the full 6 cents dividend or just need to buy in before the XD date?
| 05/12/2007 Trade | ||||||
| Total Share | 1% | Total share trade today | Trade in % | Worth | ||
| 323460000 | 3234600 | 9800000 | 3.029741 | 9,604,000.00 | ||
| Total worth in today lowest closing value = 0.980 | ||||||
I believe there is nothing to be concerned about on div payment 3 month later, You may like to know this applied to other companies also, for example F&N, Asia Pacific Breweries, Thai Village, their ex-div date is also in feb 2008.
Are you asking a question or hinting something?
If you notice, the last dividend also took around 3 months to credit.
Last dividend - EX 15 Jun, Paid on 14 Sep.
For me, I don't think so much on this as long as I believe the company is still doing well and most importantly I get my dividend on the date declared.