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Just wonder what will happen to the right issue if the share price drops further? Who will buy up the right shares if the detail investors decide not to buy? Will the underwritters buy up all? Haha, that will be an interesting scenario to watch.
Thought ex- rights date is on 17 June?
| Company Name | Type | Expiry Date | Record Date | Date Paid/Payable | Particulars |
|---|---|---|---|---|---|
| OCEANUS GROUP LIMITED | RIGHTS | 17 Jun 2013 | 19 Jun 2013 | OFFER OF 38 FOR 100 @ SGD 0.029 |
This ex-right price matter will depend much on the last day before closing n thereafter, following day BBs will pump just above ex right new price. To them it still profitable to play.
teeth53 ( Date: 12-Jun-2013 16:11) Posted:
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Oceanus - Last:0.036 Vol:40682k -0.0020...three more day to go B4 closing on 19 June. (Don know can tahan for 3 more days or not?)
Maybe it will drop to 0.035 as what Bro teeth53 states below... Once we think this counter is over, it will sneak pass everybody at go back to 0.60 again. Keen to be back vested soon... See how the market goes next week.
teeth53 ( Date: 12-Jun-2013 16:21) Posted:
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Rights issues are frown upon by investors, esp when money is needed for running expenses. Investors will be happy with rights if the rights are for some known or announced business proposals or pending transactions deemed going to profit the company. If rights are used for making more money for shareholders, they will chase up the shares.
veliscorin ( Date: 14-Jun-2013 14:00) Posted:
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all the way down
veliscorin ( Date: 14-Jun-2013 14:00) Posted:
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seems that the rights are not very welcomed...
The operator in oceanus loves to create fake break outs.
http://stockmarketmindgames.blogspot.sg/2013/06/oceanus-fake-breakouts.html
Since share's net asset value per share (ex-price) remains little changed, there is every possibility for Oceanus to climb back up to 6++ cents.
Entitled Shareholders - notice. The Co will be closed at 5.00 pm on 19 June 2013 for the purpose of determining the provisional allotments of rights shares to shareholders under the rights issue.
(sori for the err..)theoratical price per share (now) = (1000 x 0.038 + 380 x 0.029)/ 1380 = $0.035 per share
teeth53 ( Date: 12-Jun-2013 16:09) Posted:
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Entitled Shareholders - notice. The Co will closed at 5.00 pm on 19 June 2013 for the purpose of determining the provisional allotments of rights shares to shareholders under the rights issue.
What happening after Ex-right???.
38 right shares given for every 100 mother share, right at $0.029. Today shares changing hands, at 0.038c.
Hence, theoratical price per share = (1000 x 0.38 + 380 x 0.029)/ 1380 = $0.028 to $0.029 per share
" (NAV is 14.34 RMB cents = approx 2.9 cents)"
My view about this right issue and the company is : the co. is undergoing a restructuring and needs money to implement the plan and to turn the company around. For those who think the company has a good chance to be successful in this re-structuring, then they should take this opportunity to take up the right shares. The return can be handsome (like Osim's as someone had mentioned) given the current low share prices.
I am vested.
There is no sure way of estimating correctly a price of a share like Oceanus.
As at the last financial ending 31.3.2013 its group's net asset per share= 2.868 cents (approx using 5RMB to 1$, but could be slightly higher with the rising Chinese yuans below 5 to 1$)
With the rights issue at 2.9 cents bringing in $28,253,000 its net assets will become approx 2.88 per share (not much change in group)
Basing on new funds available for working and paying debts, I expect the group to profit after this and assumed that it could reasonably make about 0.005 cents in earnings per share.
This will give the share a nta of about 2.9 or more. Using my PE of 6.5 for a new start profit making company, I calculated the minimum price of Oceanus to be at least 3.2 to 3.5 cents based on estimates.
oldflyingfox ( Date: 11-Jun-2013 11:36) Posted:
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How u work out that number? can share? tks.
My calculation tells me this should go to around 3.2 to 3.5 cents prior to XR date..
Tomique ( Date: 11-Jun-2013 10:42) Posted:
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Forced selling and cut loss as it dropped too fast. Could be a good buy, but needs holding for longer term. For those buying at cheap now, don't forget to reserve cash for right shares.
oldflyingfox ( Date: 11-Jun-2013 10:32) Posted:
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As mentioned few months ago about the last fund raising to complete the company restructuring, any opinion of the present pricing of only 3.9cts? Seem like if not because of poor timing of lanuch, it will not dropped so much, is it good entry price now? Anyone
Today no bullets to short... Wasted...
novice_trader ( Date: 08-Jun-2013 13:14) Posted:
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