Chartered   

Chartered after Rights

Thanks for the quick reply Alligator. Really appreciate it~

Cheers,

oinkoink

 

Al right. I got the letter from Chartered a couple of days ago. I'm entitled to 40500, but I'm going to apply for excess rights, hopefully getting a total of something like 61000.

 But I've got another question, when the rights are converted to the mother shares, do the share price usually slump again? I'm thinking no, since we already know the number of rights and the price to convert, therefore current market price should already reflect the worth of the share?

 

 

 oinkoink1999,

do you mean that if after I purchased, say 10 lots of this counter and my average price is 0.115, it will become 1 lot of 1.15? No, share consolidation is not related to your average price. It is related the market price at the point of consolidation.


When will this take effect?  Read the document, i copy and paste below. Time unknown yet, EGM shall be called and shareholder must approve. However, just think of who is the majority shareholder and remember one hand vote is all it takes.




Share Consolidation
Subsequent to the completion of the Rights Offering, Chartered proposes to seek shareholders’ approval at the EGM to consolidate the number of its Shares in issue (“Share Consolidation”) as at a books closure date to be determined on the basis that every ten existing Shares will be consolidated into one Share.

In accordance with Chartered’s articles of association, the Share Consolidation will become
effective only if, and after, it is approved by shareholders at the EGM. Accordingly, the Share
Consolidation will become effective only after the Rights Offering has been completed, and the Shares (directly or in the form of ADSs) offered pursuant to the Rights Offering are being offered on the basis of holdings of Shares prior to the Share Consolidation.
Chartered is proposing the Share Consolidation to help reduce certain fixed costs and volatility in the trading of the Company’s Shares on the SGX-ST, as well as to mitigate the risks of Chartered being delisted from Nasdaq on account of the trading price per ADS falling below US$1 over a sustained period of time.
Further details on the Share Consolidation will be set out in the proxy statement to be issued
accompanying the notice calling for the EGM.
Currently, each ADS is represented by ten Shares and Chartered intends to maintain this ratio after the Share Consolidation.

 

Hi Alligator, do you mean that if after I purchased, say 10 lots of this counter and my average price is 0.115, it will become 1 lot of 1.15? When will this take effect? Thanks. oinkoink

Alligator      ( Date: 27-Mar-2009 07:20) Posted: when the number of share is consolidated by 10 time , the share price would be adjusted to 10 time of market price before consolidation, keeping the market cap the same..

 

when the number of share is consolidated by 10 time , the share price would be adjusted to 10 time of market price before consolidation, keeping the market cap the same..

 

Hi, Alligator , how is affect the share price if 10  to 1 ratio ?  For example mother share 7,000 shares and rigth is 18,900 shares , excess right apply 1,100 shares ( assume all can get ) =  20,000 right + excess right + 7,000 mother share = 27,000 shares, consolidate become 2,700 shares, lesser ... will the share price go up if consoliated ? Current is S$0.11. 

Your advise is appreciated.

 

 

Alligator      ( Date: 26-Mar-2009 09:21) Posted: For CPF investment you need the agent bank to handle for you,  such as apply for your allotment ( of 10800) and apply for excess rights. i think you need to consider one more thing, that is after rights issue , share will be consolidated by 10 to 1 ratio.  it means your total 4000+10800=14800 will be divided by 10 to reach final 1480 shares. even you sell off 800, your final becomes 1400, is this also odd lot you want to hold? also , 800 nil-paid rights , traded around 3 c in the market is about 24 dollars, if you sell you trading cost is going to be higher than the proceed. so it this worth? one suggestion for you since you are likely to hold in CPF for a while is to consider applying for excess rights so that you bring your final share holding after consolidation to next rounded thousand, which means you apply 5200 excess rights, making total of 4000+10800+5200=20000, after consolidation, final total is 2000 share.

 

Good news leh!

I never expect this to happen. 

jackjames      ( Date: 26-Mar-2009 09:51) Posted: I am back from my long vacation, heee.. guess what, the taiwanese news last few days said, all the workers at Taiwan Semicon on no-paid leave are all called back to work immediately, as the sales order surge... and this causes Taiwan Index up all the way , leaded by all the tech stocks...  if that's true market sales order, i think Chartered should follow.... maybe it's time to punt on this counter..

 

I am back from my long vacation, heee..

guess what, the taiwanese news last few days said, all the workers at Taiwan Semicon on no-paid leave are all called back to work immediately, as the sales order surge... and this causes Taiwan Index up all the way , leaded by all the tech stocks...  if that's true market sales order, i think Chartered should follow.... maybe it's time to punt on this counter..

 

For CPF investment you need the agent bank to handle for you,  such as apply for your allotment ( of 10800) and apply for excess rights.

i think you need to consider one more thing, that is after rights issue , share will be consolidated by 10 to 1 ratio.  it means your total 4000+10800=14800 will be divided by 10 to reach final 1480 shares.

even you sell off 800, your final becomes 1400, is this also odd lot you want to hold?

also , 800 nil-paid rights , traded around 3 c in the market is about 24 dollars, if you sell you trading cost is going to be higher than the proceed. so it this worth?

one suggestion for you since you are likely to hold in CPF for a while is to consider applying for excess rights so that you bring your final share holding after consolidation to next rounded thousand, which means you apply 5200 excess rights, making total of 4000+10800+5200=20000, after consolidation, final total is 2000 share.

 

 

I just received my letter from my agent bank UOB, but this right shares is still not reflected in CPF investment account. I assumed that since I have received the letter I can go ahead and sell the right shares.

I got 4lots of mother shares  thus entitled to 10.8k of right shares.

Problem is when I try to sell this 10lots (not interested in the odd 800) of right shares and tick "CPF Inv Account"  my brokerage system reject the sale order stating " CPF investment is not available for this stock"

Do any of you out there who have this right shares under "CPF Inv Account" encounter this problem when you try to sell them?

Thanks.

 

1234567      ( Date: 23-Mar-2009 22:22) Posted: Received the letter from my OCBC bank agent on Sat. Quantico      ( Date: 23-Mar-2009 17:57) Posted: Depends on your agent bank. DBS - got the letter last Sat 21/3. Better to call your agent bank

 

31st March - Last day of trading

 

Breaking news

TAIPEI, March 23 (Reuters) - UMC <2303.TW>, the world's second-largest contract chip maker, has ended all unpaid staff leave, its chief financial officer said on Monday, in a sign that the chip sector could be recovering.

UMC's announcement came days after a similar announcement by its larger rival, TSMC <2330.TW>, which also sharply raised its first-quarter sales and margin forecasts earlier in the month due to rush orders from China. [ID:nTP219809]

"We haven't asked any employees to go on unpaid leave since the middle of March," UMC Chief Financial Officer Liu Chitung told Reuters. "There are also no plans to re-implement this unpaid leave policy in the future."

Liu made his comments after the Taiwan stock market closed on Monday. UMC surged by its daily maximum 7 percent up limit, outpacing a 3.28 advance on the benchmark TAIEX <.TWII> share index.

Not all companies changed their unpaid leave policy. Taiwan's largest LCD maker, AU Optronics <2409.TW> <AUO.N>, said it was monitoring the market and would be sticking to its unpaid leave policy for now.

UMC's turnaround comes after it posted a record quarterly net loss in the fourth quarter of last year, its second consecutive quarterly loss, on the back of big losses in equity investments and sluggish tech demand.

 

31 march

tho0032      ( Date: 24-Mar-2009 13:17) Posted: Anybody know the last date trading of chartered rights???

 

Anybody know the last date trading of chartered rights???

 

Received the letter from my OCBC bank agent on Sat.

Quantico      ( Date: 23-Mar-2009 17:57) Posted: Depends on your agent bank. DBS - got the letter last Sat 21/3. Better to call your agent bank. charlesteo      ( Date: 23-Mar-2009 16:15) Posted: Hmm... Any idea when will I receive the letter? Does anyone here have the stock in CPF? Thanks.

 

 

 

Chewbacca Member	Posted: 23-Mar-2009 14:18       Contact Chewbacca          *  Quote this Post!
x 0 x 0 * Alert Admin	Ah, I think I understand now. Since I have 15 mothershares, I'm entitled to 40.5. Also, since it's not a whole number, I'll have to buy or sell 0.5 of them?

 

 Hi Chewbacca, on your question of odd number of shares, please note that after the 27 for 10 Rights issue there is another 10 to 1 consolidation. As you have 15000 mother shares and 40500 Rights, you add up very odd number total 55500. After consolidation you get final number of 5550...

A few ways of squaring them to THOUSANDs:

1. is to BUY Rights equal to 4500 + n*(10000) where n=0,1,2,3... then your total shares would become 55500+4500+n(10000)=60000+n(10000)


2.  is to SELL Rights equal to 5500+m*(10000) where m=0,1,2,3..

both 1 and 2 need to pay trading fee. And you need to do this within the rights trading period, I think this ends on 31 March.


3.  yet another way, most  likely the preferred way, is to APPLY FOR EXCESS RIGHTS, quantity would be 4500+n*(10000). n=1,2,3... this would let you have total shares of 60000+n(10000). Hence after consolidation, your FINAL total quantity would be 6000+n(1000).


Note that company would give you priority on excess rights application to square off odd lots. However, there is no guaranteed of company would allocate the quantity of excess rights you applied for.

Hope this helps you when you want to round off your total FINAL shares.


 

 

Really? Semiconductor orders rebounding? Frankly, that's surprising news given the horrible downturn.

Got link to report?

 

rabbitfoot      ( Date: 23-Mar-2009 20:19) Posted: if got rights letter also, have until 6 April to make payment. ML semicon analyst says rebound in Chrt in 2nd qtr with orders picking up in Apr.

 

if got rights letter also, have until 6 April to make payment. ML semicon analyst says rebound in Chrt in 2nd qtr with orders picking up in Apr.

 

Yes, I have this stock in CPF and cash A/C  but never received any letter at all, anyway this counter already give up hope.... Today I think the right higher is 0.035 can't recall... no border at all.

charlesteo      ( Date: 23-Mar-2009 16:15) Posted: Hmm... Any idea when will I receive the letter? Does anyone here have the stock in CPF? Thanks. Quantico      ( Date: 23-Mar-2009 16:08) Posted: You should receive a letter from your agent bank telling you the rights entitlement and the procedure to subscribe. If you have exceeded your stock limit, you will have to top up your CPF Investment account with cash before you can subscribe.

 

Depends on your agent bank. DBS - got the letter last Sat 21/3. Better to call your agent bank.

charlesteo      ( Date: 23-Mar-2009 16:15) Posted: Hmm... Any idea when will I receive the letter? Does anyone here have the stock in CPF? Thanks. Quantico      ( Date: 23-Mar-2009 16:08) Posted: You should receive a letter from your agent bank telling you the rights entitlement and the procedure to subscribe. If you have exceeded your stock limit, you will have to top up your CPF Investment account with cash before you can subscribe.

 

Hmm... Any idea when will I receive the letter? Does anyone here have the stock in CPF?

Thanks.

Quantico      ( Date: 23-Mar-2009 16:08) Posted: You should receive a letter from your agent bank telling you the rights entitlement and the procedure to subscribe. If you have exceeded your stock limit, you will have to top up your CPF Investment account with cash before you can subscribe. charlesteo      ( Date: 23-Mar-2009 14:58) Posted: Hi  Will I get to see it if I have mothershares in my CPF? Thanks.