ICPS: It takes AGES to reach the Billion Shares Club
It takes AGES to reach the Billion Shares Club
One question asked in AGES i3 forum, how many AGES-PA (ICPS) preference shares being converted to mother shares? Actual amount is reported in AR2020 issued on 6 Oct., 2020. Thereafter, will be an estimate until the next Annual Report due to 2 methods of conversion.
Below is tabulation of converted AGES-PA to AGES mother shares based on 1 ICPS+12sen, the total cash as addition to issued capital and total AGES mother shares issued.
ON 11 Dec., 2020, AGES reached the Billion Shares mark.
Source: Klse Screener.
Table 1: ICPS Conversion vs Total Issued Shares
As per table 1 above, RM65.121million cash added to total issued capital, improving cash flow in the company. Hopefully, this will translate to EPS of the company as gearing improved from 0.34 to 0.1 as reported in AR2020.
Therefore, IMHO, AGES support level will be around 13sen. With more AGES-PA converted to AGES, AGES free cash flow will improve. With the reduction of AGES-PA ICPS, AGES-PA price will increase due to supply and demand effect. It is all theories, market condition will finally dictate market price.
Further information on AGES can be referred to below link (thanks to another i3 blogger):
https://klse.i3investor.com/blogs/fundingforever/433161.jsp
Technical Update on AGESON BERHAD (7145) https://klse.i3investor.com/blogs/fundingforever/434774.jsp
https://klse.i3investor.com/servlets/forum/600435191.jsp
Disclaimer: The above opinion does not represent a buy or sell recommendation; just a personal opinion and for sharing purposes only. Any offences and errors are unintentional; my apology in advance.
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