An investor who buys 20,000 L&G shares @ 32.5 sen per share will be entitled to subscribe for 36,000 rights shares at 21 sen each. The 20,000 shares cost RM 6,500 but the 36,000 rights shares will cost him an additional RM 6,720. No wonder people aren't buying this counter. Those who already have L&G shares are also paring down. Investors aren't interested at all in the 2 sen special interim dividend.
i was once their shareholder but when cash rich also need right issue which makes no sense for me to hold long. Anyway, this is a step for Mayland to acquire more when everyone is throwing...
It's worthwhile to look at the existing loan stock ICUL as its conversion price will be reduced to 20 sen arising from the impending rights issue. In other words, one has to pay 7 sen only plus one ICUL to exchange for one ordinary mother share after the ex-date for the rights issue. This may be a good opportunity to ride on the next rally of this counter.
Moreover, there is growing optimism that the property sector index is likely to outperform the KLSE Composite Index in the next 12 months among the analysts as per the latest The Edge Magazine.
when is the payment of 2cents specialdividend.They should announce it ASAP.Rights shares are not entitled to ddividends.Therefore it should pay before X date ie 12.4.17.Prudent investor pls advise .Thank you.
luckyman, would most be appreciated if u can illustrate how u arrive at a new reduced conversion price of RM0.20 for the loanstock ICULS after the rights issue, thanks in advance
The issued price (also known as Norminal or Par Value) of the ICUL was 13 sen. Previously one needs to surrender one ICUL plus 13 sen cash to exchange for one ordinary share when the conversion price was 26 sen.
Now the conversion price will be reduced to 20 sen but the issued price (also known as Norminal or Par Value) of ICUL remains the same at 13 sen. Hence, going forward, one will have to surrender 1 ICUL (issued price @ 13 sen) plus 7 sen only to exchange for one ordinary share after the ex-date for the impending rights issue for the mother share.
Noted & TQ n now awaiting the adjustment notice from L&G to verify whether the computation of the new conversion price and conversion options are in order as according to the Trust Deeds
Also effectively meant ICULS Holders need no the dreaded extra capital or action under the Rights issue whereas Shareholders must take the necessary actions to protect the stakes
Based on 8:5 RI ratio, the adjusted price next week will be RM0.25 which is derived from {(0.32x5)+(0.21x8)}/13}. As the Rights share is RM0.21 so the L&G share price will likely be traded at around RM0.21 to 0.25 next week post- adjustment?
The the OR will also likely be trading at around RM0.01 to RM0.05 from 17-21 April (depending on the mother share performance post- adjustment)?
Appreciate comments / advice from all the sifus here. Thanks.
阿马讲,天公惜懵人,傻傻买,傻傻的守着不放,傻傻的賺他妈的几万、small investor not need too much worry the RI,just get ready the money,buy & keep for years you will get the return.if not enough money may be you can consider to sell the OR at low price ,sell also die,keep also die,无奈。天亡小蚂蚁也。
Prudentinvestor.Pls advise when is payment of 2cents dividend because this share is x 12.4.17.Thank you.After announcement hopefully the share Goreng up 2 cts.
Depends u guys trust the management n country garden project. Buy lands to develop projects but no need to eat the loss money companies. Cash money from left hand in then right hand out
Hi,during the EGM, if I don't hear wrongly, 2cents divident ex-date will be after right issue. Meaning that both mother shares & right shares get divident. Also meaning, if u wait for ex-divident date for ur right shares, ur cost for the right share is 19cents ( i.e. 21cents-2cents = 19cents), offcourse u have to bear in mind ur holding opportunities loss cost & interest cost.
Yes, based on EGM discussion,not sure recorded in MOM. If u hold the right shares till ex-date of dividend (likely May or June), you also get 2cents dividend for your right shares.
This company seems to have lots of issues. I think post rights issue we could see some selloff. May be wise till then for outsiders to wait before jumping in.
But if no wrong, still can make money thru this way.. OR create additional cost with lower your average price and when the share price is surge u may get more than u suppose to get
either exercise or sell RI, usually in forced within two to three weeks time.. The Adjustment shall take effect on Monday, 17 April 2017, being the next market day following the Entitlement Date. The notice setting out the Adjustment will be despatched to the Entitled ICULS Holders within seven (7) days from the effective date of the Adjustment.
and volume is queue both side more then a million for every price... this should be come back in year 2013 when L&G issuing OR, then the price surge like a trip to the moon...
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