Latest financials show net cash (cash - all borrowings) to be around 110.06m Total shares - 183,428,800; Total warrants - 31,110,950. Net cash per share should be 0.60 Assuming full conversion of warrants, which will add another RM9.333m to the cash balance, net cash per share should be around RM0.5565.
In any case, it's still above the RM0.48/ share offered.
By buying out the warrants at 0.18/ warrant, it's just benefiting those holding the warrants. Buyback should only consider the SHAREholders.
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Other than cash, SAMUDRA got other asset, such as plant & machinery, motor vehicle, office equipment, trade receivable, other receivable, contract on hand and it listing status in main board.
All these item should worth at least RM20 million extra, but chee pek should offer at approx RM0.55-0.60.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
albukhary
3,045 posts
Posted by albukhary > 2015-03-24 00:51 | Report Abuse
Hold your share... very soon it will become 60 sen