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BLTENG:
you will receive a letter in regards to the rights issue, which states how many rights you're offered based on your current holdings. It will mention when is the start and last day of subscription to the rights.
In order to subscribe to the rights, it is usually done through ATM where u can apply for the given amount of rights and excess rights if you wish... the $$ will be deducted from your bank account upon subscription... the shares from subscription can only be traded once they're in your CDP account.
yummygd:
with all the costs included, you should make some, as long as the price holds up around this level by the time you get the subscription shares =) which.. will be a month... ? not sure when is the new shares gonna be traded.
flekzout:
find the document online about the rights shares in SGX, under GMG.
it will state the following:
- the day nil rights trading starts (which is where u can buy/sell the rights as a stock itself)
- the day nil rights trading ends (which is the day the buying/selling of the rights as a stock itself stops)
- the day subscription must be made (which is the last day u can subscribe to shares based on the no. of rights u have, regardless awarded or purchased from market)
- the expected day the new shares will be made available for trading (this is an expected date. you can buy/sell the shares once they are in your CDP account, so double check that)
that i am not sure.. but most of my rights so far n dividends payout are thru my posb bank.
BLTENG1973 ( Date: 23-Nov-2011 13:53) Posted:
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Thanks for your info. But... all bank's ATM can access to buy? or only DBS & POSB?
yummygd ( Date: 23-Nov-2011 13:48) Posted:
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u have to go to ATM to buy it. i think first its under others den u click n den i think its like shares n security den u click sgx den u follow instructions..u will need ur cdp account number. n sufficient cash in ur atm as they will deduct it straight out. Okie i hope its not confusing cause i dun remember e layout of posb atms..
BLTENG1973 ( Date: 23-Nov-2011 13:43) Posted:
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Can someone also tell me what should I do if I want to exercise my right (I have 5 lots in hand) to buy the other 5 lots that I entiltled at price 0.091? Where to buy these 5 lots from. Thanks in advance for your answer. ^^
yummygd ( Date: 23-Nov-2011 13:39) Posted:
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when u buy a security it takes 5 days to deposit into ur cdp account(i think its five days) hence e exright is telling those buyers out there even if u buy now u won't get the shares intime for e entitlement of rights....so even if u sell now u are still entitled to ur rights(if im not wrong) hence people are selling their mothershare(meaning the current shares they bought from market) in anticipation that they get to buy e rights at 0.091hence making the diff. I just sold my 5 lots aways which i bought at 0.145 years ago n if i minus current price of 0.151 (0.151-0.091) i make around 275 dollars n when i buy e rights, i can have my 5 lots back. I pray that i am not wrong in my thinking of i will go bang head.
flekzout ( Date: 23-Nov-2011 12:48) Posted:
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no one buying this stock? is there anyone can give me some clue about this cash right that just expired today?
lets say I have 3 stocks and I entitled to buy 3 at 0.091, when they will give me the share after I buy it? I just dont understand this whole process and hope someone could explain it here
Hi, m new to this forum.
Is it adviceable take up rights offer?
When is the ex-right date?
tankuku ( Date: 27-Oct-2011 12:47) Posted:
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is there anyone can explain me what is this cash right for?
$0.35? yet the price still the same and never move.. I really put my faith in this GMG since they are my only hope in rubber to compete with Thailand, especially now Thailand in disaster mode.. but no clue why there is no significant impact with this GMG.... really crap
Some good news on the way - major investment in plantations.My broker recommand to buy with target of $0.35
Do vest and good luck.
GMG cash balance as at 30/09/11 stood S$123m, and now undertake right issue to raise S$344m and total cash reserve become S$467m. Mega deal underway or ?????
It is very stable, trading at $0.23 range. Should have no problem to move up higher near the ex-right date.
How u predict it will hit $0.32??? I will step in ONLY if price drop below $0.2 b4 ex-right.
tankuku ( Date: 27-Oct-2011 08:37) Posted:
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Company is proposing to undertake a renounceable rights issue (" Rights Issue" ) of 3,836,699,386 new ordinary shares in the capital of the Company (" Rights Shares" ) at an issue price of S$0.091 (" Issue Price" ) for each Rights Share, on the basis of one (1) Rights Shares for every one (1) existing ordinary share in the capital of the Company (" Shares" ) held by shareholders of the Company.
Attractive Value Proposition for Shareholders
The Rights Issue is structured to give all Shareholders an opportunity to subscribe for the Rights Shares on a pro-rata basis. The Rights Shares are priced attractively at an Issue Price of S$0.091 that represents a discount of approximately:
(a) 61.3% to the closing price of S$0.235 per Share on the SGX-ST as of 25 October 2011, being the last trading day of the Shares on the SGX-ST before the Announcement and
(b)
With the right issue, It GMG share should cross $0.32 soon. Do vest and good luck.
44.2% to the theoretical ex-rights(1) price of S$0.163 per Share.
Announce Q3 result yesterday.GMG DELIVERS 49.3% YOY INCREASE FOR NET PROFIT TO S$24.4MIL FOR 3Q11
Good net profit will cause the share price to cross 0.30 soon. Do vest and good luck
Where did the information come from?
tankuku ( Date: 24-Oct-2011 12:41) Posted:
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Expecting last minute buying up by BB , may push above 0.255 today.
Do monitor and good luck
In top volume today. Likely to announce the takeover by another company in china. Will soon cross $0.26 which is the offer price of take over.
Remain Vest and good luck.
GMG Global, Fully Valued S$0.225, Bloomberg: GGL SP
Weaker rubber price outlook
Price Target : 12-Month S$ 0.19 (Prev S$ 0.22)
· 2008/09 global crisis caused FY09 earnings to tumble 89% y-o-y on
weaker margins, despite 16% higher volumes
· Raised equity risk premium (ERP) on slower global GDP growth TP
cut to S$0.19
· FY11-13F earnings adjusted by -4% to +35% after revision to rubber
prices and FX rates
· Maintain Fully Valued 16% potential downside