vaentecEric : 80+ million in total will be added to the book value of this company as a result of conversion. I think the public is pretty confused with what is the net asset per share or the real eps now. If you want to be conservative, take the coming quarter result's balance sheet and calculate manually the net asset. If I am not mistaken,as of the AGM, they have a net asset of more than 600 million. (If I am not mistaken ).
JulioBased on my calculation on the previous quarter result, L&G has a net asset of 600 million. Assuming the leftover ICULS are converted, they will have a gain of 65 Million and be left with 1.157 Bllion shares in total. Take (600+65)\1157 = 0.575 (Conservative Book Value As Of 30/6/2014). Say they earn 2.5 cents for the previous quarter, that will be 0.575 + 0.025 = 0.60 of book value. Or maybe just 0.60 - 0.02(Dividend Issued) = 0.58. Current Price @ 0.545, you are buying the net asset at 6% discount and you get Low Gay Teck and the unbilled sales for free.
cyphuaI can say that employ Mr.Low Gay Teck to run your company as a CEO.
cyphua1. Details of Corporate Proposal Whether the corporate proposal involves the issuance of new type and new class of securities? : No
Types of corporate proposal : Others
Details of corporate proposal : Conversion of 1% Irredeemable Convertible Unsecured Loan Stocks 2013/2018 of RM0.13 Nominal Value Each
No. of shares issued under this corporate proposal : 27,000
Issue price per share ($$) : MYR 0.260
Par Value ($$) : MYR 0.200
Latest issued and paid up share capital after the above corporate proposal in the following Units : 1,051,880,216
Currency : MYR 210,376,043.200
Listing Date : 07/11/2014
cyphuaOriginal share have 598,304,530（2013 Annual Report Pg.11）, issue ICULS by 1:1; that mean ICULS have 598,304,530 units, mother share have 1,051,880,216 now, that mean still have = 598,304,530 x 2-1,051,880,216 = 144,728,844 units still not convert, about 144,728,844/598,304,530 x 100% = 24.19%. Need to continue monitor the announcement.
ProbabilityIf the property buyers just signed S&P...will it have any effect on earnings? If it does...what would be the payment fraction like over the propert value..5%?? Please care to share anyone. Thanks
ProbabilityOH! if only such stocks are listed in US.....