ICPS: It takes AGES to reach the Billion Shares Club
ICPS helping AGES growth and glow?
I am updating my previous article, trying to answer one new question raised in AGES i3 forum.
Two questions being asked in AGES i3 forum, i.e. 1) how many AGES-PA (ICPS) preference shares being converted to mother shares and 2) how much value invested due to two methods of conversion? 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. Due to the question on the second method of conversion, i.e. all using ICPS (which is unlikely due to AGES-PA present price of 3sen x 13=39sen instead of just 3sen + 12sen=15sen), I am showing both the minimum and maximum of ICPS conversion required.
ON 11 Dec., 2020, AGES reached the Billion Shares mark.
Source: Klse Screener.
Table 1: Max. and Min. ICPS Conversion vs Total Issued Shares
As shown in the table, the maximum ICPS issued will exceed the total ICPS issued by around 3.4 billion which is not likely. The total minimum of 3.9 billion outstanding ICPS seems more logical. Will this additional ICPS helping AGES growth and glow? Time will tell, with more conversion and extra $.
As per table 1 above, RM80.627 million 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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BLee
With today announcement of Proposed ICULS, it will be a 'new ball game' for AGES-PA. The Proposed conversion of '10sen' vs AGES-PA of 13sen (unless revised as seen in Fintec-PA from 16sen to 11sen); it will be a disadvantage for AGES-PA. Let's wait and see what will happen. Happy Trading.
2021-02-26 23:06