broke the critical zone..ended above 0.40...still gud sign ..bcoz at the end of closing got announcement ..supposed to be bonus etc...please anybody got the news.or info
Reference is made to the announcements made on 3 October 2013 and 4 October 2013 respectively in relation to the Proposals (“Announcements”). For consistency, the abbreviations used throughout this announcement are the same as those previously defined in the Announcements. On behalf of CAP, Mercury Securities Sdn Bhd (“Mercury Securities”) wishes to announce that the Board, after further deliberation, have decided to abort the Proposed Private Placement. This will not affect the Proposed Bonus Issue of Warrants. All other details of the Proposed Bonus Issue of Warrants as announced previously shall remain unchanged, save and except for any effects arising as a consequence of aborting the Proposed Private Placement. Mercury Securities will retract the additional listing application in respect of the Proposed Private Placement from Bursa Securities. This announcement is dated 19 November 2013.
Tax Exempt Interim Dividend of 1.0 sen per ordinary share of USD0-10 each for the financial year ending 31 December 2013. what is the actual amount payout, anyone?
CAP declare interim dividend 1 sen TE, expect another final dividend after Q4, should be another 2sen, which is based on 20% dividend policy of FY EPS =15sen. Annualized dividend should be 1sen + 2sen =3sen , yield 7.5% nett
CAP also abort 10% private placement to be issue at just 35sen (unfair to IPO at 68sen and exiting shareholder), no more dilution effect from private placement.
CAP continue to proceed bonus warrant 1 for 2, exercise price at 35sen to reward shareholder and average down exiting shareholder /IPO subscriber holding cost
CHINA AUTOMOBILE PARTS HOLDINGS LIMITED (CAP OR THE COMPANY) PROPOSED PRIVATE PLACEMENT; AND PROPOSED BONUS ISSUE OF WARRANTS(COLLECTIVELY REFERRED TO AS THE PROPOSALS)
Technically, CAP already oversold partly due to disappointment rumor of 70sen take over deny by management. CAP should regain momentum today as 1sen interim dividend + expected 2sen more final dividend in line with company to payout 20% of net profit as dividend, which based on annualized EPS=15sen, 20% payout = 3sen.
In addition, CAP have abort to private placement 10% which will cause dilution to company earning, but proceed bonus 1 for 2 free warrant to reward exiting shareholder.
Its good for CAP management to abort these 10% private placement to be issue at merely 35sen....CAP is currently in net cash position, 36.6sen/share. Essentially CAP need to raise cash from private placement at all. It should instead increase dividend policy payout from current 20% net profit to 30% payout to reward shareholder and average down their holding cost. In addition, aborting private placement also avoid share overhang as investor could opt to sell current share open market and opt to subscribe much cheaper private placement at 35sen. Aborting private placement but proceed to continue award free warrant to shareholder is much wiser corporate exercise.
their private placement initially intention is for fund raising but i don't understand why they need to do so since they hold net cash position & consider huge at 36.6sen/share. they should not need cash for development as they are sitting with huge cash pile. rewarding shareholders through dividend and bonus issue (warrant) this make more sense.
a lot of 'does not make sense' reasons for china company... why list in M'sia ? why private placement in the 1st place ? why give so small reward to you while sitting huge net cash position ? does not make sense to trade so low pe with so good profit !? any agenda behind listing in M'sia ?
this is really critical zone below 0.390 for contra player n also margin player if they cannot top up...but for investor who really know what he hold expecting little dviden n bonus then he can still smell the aroma of cappucino plus...now decide cut loss or hold or reduce holding...strategy now...but pity who play patimas AT etc suffer losses...hope give life
I'll hold on and wait until CAP announce bursa approval for its free warrant first. In the meantime, will hold on to entitle the interim dividend 1sen next month, and perhaps hold till final result Q4 and assess whether CAP indeed fulfill its dividend policy to payout 20% net profit or interim 1sen + final 2sen
i wonder who are the cornerstones for CAP ? are they local or another china tycoon ? if their purpose is just to grab money and close shop after 'making enough', we will left with holding their shares electronically forever. :(
what are the security to safeguard Malaysia shareholders ? if CAP management decide to shutdown... is Malaysia law can be used to prosecute those owners in China ?
is their accounting being audited locally ? or up to the discretion of CAP management ? if so, they can do what they like in accounting but in actual fact it is already an empty shell, when you discover it, it is too late.
CAP is list in Malaysia but business is in China, financial is audit by china audit firm. Well, no doubt many have bad experience with China stock due to volatility and suspicious high cash, low PE....but compared to local company, even with local audit and business based in Msia, there are still at risk of delist and fraud account like today Patimas and Octagon...and many other falling in PN17
On behalf of CAP, Mercury Securities Sdn Bhd is pleased to announce that the additional listing application in respect of the Proposed Bonus Issue of Warrants have been resubmitted on even date to Bursa Malaysia Securities Berhad. Further, the additional listing application in respect of the Proposed Private Placement have also been retracted on even date.
ended 0.395 ...still in critical zone untill end friday hope to stay above 0.40...expect small loss for contra n margin player..for holder still can smell money approaching 2nd dividen n bonus...bless all...for holder if hev money safe at 0.34 - 0.36...high risk high return ...watch
0.34 - 0.36 this few days perhaps hard to get bcoz CAP now coming wit dividen interim n final one expecting plus bonus expecting ...bro jim yeoh if u can get it consider lucky in these few days
CAP must stay n close above 0.40 till friday..then no more downtrend..wit gud news n expecting final dividen n bonus...perhaps no problem..whatever wit the interim dividen enough to hev cup of cappucino plus..watch
Volume shrinking, likely hit bottom already......with Yuan getting stronger, have stock with business base in China can ride on it. In the meantime, let hold on it, waiting for value to emerge in next few month
Nov: announce interim dividend Dec: announce free warrant 1 for 2 Jan: ex-date for warrant entitlement Feb: announce final dividend.
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Posted by JimYeoh > 2013-11-19 16:19 | Report Abuse
game is over