Wow this case study serves as a reminder that speculating on a "businessless" company to have an RTO is dangerous too
I will be collecting $300 from them then... Sigh...
(04-11-2013, 09:50 PM)CityFarmer Wrote: [ -> ]It is confirmed that there is no RTO, and the company will distribute back its existing cash reserve, thus a voluntary liquidation. The last market cap was S$35 mil @ 26 cents per share.
Ref: http://infopub.sgx.com/FileOpen/EliteKSB...eID=262548
Base on the last report, the cash reserve was S$20 mil, or slightly less than 15 cents per share.
Ref: http://infopub.sgx.com/FileOpen/EliteKSB...eID=261622
It means for those who bought it at 26 cents, they will lose 11 cents per share, after liquidation, barring any further expenses.
I wish no buddies here are caught.
(not vested)
the people who owned the shares at a price higher than 20 cents weren't thinking straight, dont really need to pity them
my farewell salute to mrchew..
good bye elite ksb
(04-11-2013, 09:50 PM)CityFarmer Wrote: [ -> ]It is confirmed that there is no RTO, and the company will distribute back its existing cash reserve, thus a voluntary liquidation. The last market cap was S$35 mil @ 26 cents per share.
Ref: http://infopub.sgx.com/FileOpen/EliteKSB...eID=262548
Base on the last report, the cash reserve was S$20 mil, or slightly less than 15 cents per share.
Ref: http://infopub.sgx.com/FileOpen/EliteKSB...eID=261622
It means for those who bought it at 26 cents, they will lose 11 cents per share, after liquidation, barring any further expenses.
I wish no buddies here are caught.
(not vested)
There is capital reduction of 6.6cts/share, ex-entitlement on 18 Oct 2013 (payment on 30 Oct 2010). Thus, the cash reserve as of today should S$20m less $8.9m.
I hope I am right on this.
(05-11-2013, 12:19 AM)PkNanas Wrote: [ -> ] (04-11-2013, 09:50 PM)CityFarmer Wrote: [ -> ]It is confirmed that there is no RTO, and the company will distribute back its existing cash reserve, thus a voluntary liquidation. The last market cap was S$35 mil @ 26 cents per share.
Ref: http://infopub.sgx.com/FileOpen/EliteKSB...eID=262548
Base on the last report, the cash reserve was S$20 mil, or slightly less than 15 cents per share.
Ref: http://infopub.sgx.com/FileOpen/EliteKSB...eID=261622
It means for those who bought it at 26 cents, they will lose 11 cents per share, after liquidation, barring any further expenses.
I wish no buddies here are caught.
(not vested)
There is capital reduction of 6.6cts/share, ex-entitlement on 18 Oct 2013 (payment on 30 Oct 2010). Thus, the cash reserve as of today should S$20m less $8.9m.
I hope I am right on this.
You are right. I have not tracking the company for a while. The report announced on 29 Oct, and payment is on 30 Oct.
In short, the distribution after liquidation is likely slightly more than 8 cents per share.
Does this mean the entire company will be liquidated and be delisted?
Yes. No business to continue listing.
(05-11-2013, 11:35 AM)NTL Wrote: [ -> ]Yes. No business to continue listing.
I see.....
Not vested. Just curious. Why did the management decide to wind up the business and call it a day?
Is the business not making profits?
