Pacific Andes
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Discussion Corner for PACIFIC ANDES RIGHT
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Emm hit 0.44 max today.
Oh, again not announced yet. Thanks man. I was afraid I missed it bcos of the changed format of SGX. Cheers.
Right trading period : not yet announced
Hey guys, does anyone know the dates for XR and nil-rights trading? Cheers...
Still sailing towards XR....
CR already.....
It was declared at the OCBC investment Research website. Emm maybe will publish the news soon by PAH.
I don't thk they will write wrong article to mislead investor. 
Quantico ( Date: 31-May-2009 22:40) Posted:
Based on the Full Year Results Announcement on 22 May 2009, no diwidends was declared.
dealer0168 ( Date: 31-May-2009 16:31) Posted:
Oh i overlook, actually the article by analyst Carmen Lee already indicate there is dividend for this baby.
Sentence quote fr article i listed below:
Summary: Pacific Andes Holdings (PAH) posted better than expected net earnings of HK$664m for FY09, up 38% YoY. The group has also declared dividend per share of 2.07 S cents per share (same as last year), giving an attractive yield of 6.8% based on pre-suspension price of S$0.305. |
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Based on the Full Year Results Announcement on 22 May 2009, no diwidends was declared.
dealer0168 ( Date: 31-May-2009 16:31) Posted:
Oh i overlook, actually the article by analyst Carmen Lee already indicate there is dividend for this baby.
Sentence quote fr article i listed below:
Summary: Pacific Andes Holdings (PAH) posted better than expected net earnings of HK$664m for FY09, up 38% YoY. The group has also declared dividend per share of 2.07 S cents per share (same as last year), giving an attractive yield of 6.8% based on pre-suspension price of S$0.305. |
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Just curious as to what will be the implication of reducing the par value of the share from 20cts to 5cts. Will our share holding of 1 lot becoming 4 lots and hence the current share price to be reduce proportionately?
Oh i overlook, actually the article by analyst Carmen Lee already indicate there is dividend for this baby.
Sentence quote fr article i listed below:
Summary: Pacific Andes Holdings (PAH) posted better than expected net earnings of HK$664m for FY09, up 38% YoY.
The group has also declared dividend per share of 2.07 S cents per share (same as last year), giving an attractive yield of 6.8% based on pre-suspension price of S$0.305.
Emm thank again. Emm now find it easier to surf. BTW did u vest in this baby?
haha, sorry i type wrong name, here is history of divvy and others . you click corporate distribution, type in your company of interest, and you get the history, quite fast response...
it takes time to navigate and appreciate new website, a few click leads you to corporate distribution, and you can see history of dividend
Oh sorry, take back below divi news. Its a old news. Divi for 2008. Haha sorry sorry.
Still prefer last time SGX. The news display easlier to read.
Emm anyway, i had vest in this one. Hope it sail well. Cheers.
Emm this stock share value should be quite competitive for this few mths. Emm they are giving divi soon as well.
| Particulars : |
SCRIPDIVSCHEME SGD 0.0207 |
| Financial Year End : |
31 Mar 2008 |
| Ex-date : |
6 Aug 2008 |
| Buy-In Last Cum Date : |
11 Aug 2008 |
| Record Date : |
8 Aug 2008 |
| Date Paid/Payable : |
26 Sep 2008 |
 |
| Last updated on 09/10/2008 03:00:54 AM |
Thanks boss fr the detail explanation.
Alligator ( Date: 30-May-2009 12:51) Posted:
This rights issue, simplified to be 1 rights for every 1 share at
issue price of 0.15, with free 1 warrant for every 5 rights subscribed
and warrant expiry is 2-year with exercising price of 0.25
With
current market price of mother share at about 39cents, the warrant is
already 'In the money'. therefore to work out theoretical ex-rights
price:
mother shares, 1 lot or 1000 shares = 0.39x1000=390
rights shares, 1000 at 0.15 =150
warrant 1/5 of rights at 0.23=200x0.23=46
total cost ==586
total qty with rights and warrant=1000+1000+200=2200
estimate total cost/total qty =586/2200=26.6cents
so,
if the mother share trade about 39cents, when ex-rights its price is
likely adjusted to 27cents. of course mother share price will change
and thus ex-right price also change according to dilution effect as
well as market sentiment.
Your question on how to play
warrant... warrant is issued free of charge and attached to rights
that is exercised. therefore, if you want to exercise then you get 1warrant
for 5 exercied rights . Each warrant entitled you to exercise at a price of 0.23
within two year expiry. As this is 1 for 5 thus the warrant dilution is
not too large as it is 20% of right issue , this act as a sweatener to
make entitled shareholder happy to hold warrant.
As this point warrant is priced at 23cents, if mother share price is much higher than 39 cents, the warrant become very attractively priced. on the other hand, if mother share price drops below 31 cents then the ex-rights price become less than 0.23 and it will make warrant not in money ( you can read Golden Agri's case, its warrant is priced out of current market price).
Warrant will be
listed in SGX after the Rights issue exercise. Once listed in SGX,
warrant can be traded just like share. You must either sell
the warrant for money , or exercise by paying 0.23 to convert to mother share, before its expiry. Once expired, it becomes worthless.
Warrant exercising must go through a paper work process , fill up form,
pay cashier order or banker draft to the Warrant Agent. Wait few days
for their processing before it become credited into your CDP.
hope this help.
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This rights issue, simplified to be 1 rights for every 1 share at
issue price of 0.15, with free 1 warrant for every 5 rights subscribed
and warrant expiry is 2-year with exercising price of 0.25
With
current market price of mother share at about 39cents, the warrant is
already 'In the money'. therefore to work out theoretical ex-rights
price:
mother shares, 1 lot or 1000 shares = 0.39x1000=390
rights shares, 1000 at 0.15 =150
warrant 1/5 of rights at 0.23=200x0.23=46
total cost ==586
total qty with rights and warrant=1000+1000+200=2200
estimate total cost/total qty =586/2200=26.6cents
so,
if the mother share trade about 39cents, when ex-rights its price is
likely adjusted to 27cents. of course mother share price will change
and thus ex-right price also change according to dilution effect as
well as market sentiment.
Your question on how to play
warrant... warrant is issued free of charge and attached to rights
that is exercised. therefore, if you want to exercise then you get 1warrant
for 5 exercied rights . Each warrant entitled you to exercise at a price of 0.23
within two year expiry. As this is 1 for 5 thus the warrant dilution is
not too large as it is 20% of right issue , this act as a sweatener to
make entitled shareholder happy to hold warrant.
As this point warrant is priced at 23cents, if mother share price is much higher than 39 cents, the warrant become very attractively priced. on the other hand, if mother share price drops below 31 cents then the ex-rights price become less than 0.23 and it will make warrant not in money ( you can read Golden Agri's case, its warrant is priced out of current market price).
Warrant will be
listed in SGX after the Rights issue exercise. Once listed in SGX,
warrant can be traded just like share. You must either sell
the warrant for money , or exercise by paying 0.23 to convert to mother share, before its expiry. Once expired, it becomes worthless.
Warrant exercising must go through a paper work process , fill up form,
pay cashier order or banker draft to the Warrant Agent. Wait few days
for their processing before it become credited into your CDP.
hope this help.
Will appreciate if someone can share on how to play the warrant given free when subscribe 5 RIGHT (correct me if i interpret wrongly).
And maybe we can also discuss on the prospect of this stock.
And below are the analyst rating for this stock:
By Carmen Lee
Tue, 26 May 2009, 08:01:35 SGT
Summary: Pacific Andes Holdings (PAH) posted better than expected net earnings of HK$664m for FY09, up 38% YoY. The group has also declared dividend per share of 2.07 S cents per share (same as last year), giving an attractive yield of 6.8% based on pre-suspension price of S$0.305. Together with the FY09 results, PAH also proposed a renounceable underwritten Rights issue on the basis of one rights share for every one existing share held and one warrant for every five Rights shares at an issue price of S$0.15 per Rights share. Key shareholder Pacific Andes International Holdings Ltd (PAIH), which holds a 65.1% stake in PAH, has given its irrevocable undertaking to subscribe for its entitlements. Demand and pricing seem to be holding well and not affected by the recent H1N1 scare or the current global recession. This has given us confidence to raise our selling prices for its fish and fishmeal products as well as including organic growth from the above vessel redeployment exercise. Rolling our estimates into FY10 & FY11, we are raising our fair value estimate from 30 cents to 63 cents (based on 6x blended earnings). Maintain BUY.
Good set of FY09 results. Pacific Andes Holdings (PAH) posted better than expected net earnings of HK$664m for FY09, up 38% YoY. While revenue was in line with our expectation, up 12% to HK7847m, the better bottomline performance was partly due to deferred tax credit of HK$70m in FY09 versus tax charge of HK$26m in the previous year. This is not expected to recur in FY10. PAH’s 4Q earnings came in at HK$237m, up 8% YoY and 172% QoQ. Revenue also improved in 4Q by 23% YoY and 120% QoQ to HK$637m. 4QFY09 margins showed across the board improvement from 3QFY09, but FY09 margins were slightly lower than FY08. Note the group has not declared any dividend for FY09.
Rights issue to meet working capital needs. Together with the FY09 results, PAH also proposed a renounceable underwritten Rights issue on the basis of one rights share for every one existing share held and one warrant for every five Rights shares at an issue price of S$0.15 per Rights share. This is at a 51% discount to the pre-suspension price of S$0.305. The exercise price for the warrants is fixed at S$0.23. Key shareholder Pacific Andes International Holdings Ltd (PAIH), which holds a 65.1% stake in PAH, has given its irrevocable undertaking to subscribe for its entitlements. We estimate that net gearing will drop from 91% to 76% with the Rights issue.
Maintain BUY, up fair value estimate to 63 cents. In addition to the good results, management reassured us that the deployment of the five vessels to the South Pacific is on track and should commence contribution in 2QFY10. Demand and pricing seem to be holding well and not affected by the recent H1N1 scare or the current global recession. This has given us confidence to raise our selling prices for its fish and fishmeal products as well as including organic growth from the above vessel redeployment exercise. We are also revising up our FY10 earnings estimate from HK$440m to HK$720m and introducing FY11 earnings expectation of HK$822m, up 14% YoY. Rolling our estimates into FY10 & FY11, we are raising our fair value estimate from 30 cents to 63 cents (based on 6x blended earnings). Maintain BUY.
Sorry previous article corrupted again (ignore the previous). Read this one.....instead:
The Company expects to raise up to approximately S$228.6 million by way of a renounceable underwritten rights issue and up to approximately S$70.1 million from the exercise of the warrants The proceeds will be used to enlarge PAH’s working capital
Some more information to share out at this discussion corner:
underwritten rights issue and up to approximately S$70.1 million from the exercise of the
warrants
1)The Company expects to raise up to approximately S$228.6 million by way of a renounceable
And the proceeds will be used to enlarge PAH’s working capital
