Neratel

[KopiKat]

It looks like No Scheme => No 6ct Div. I rechecked their Scheme announcement (mentioned as 'Permitted Div' + AGM vote list but not in list), seems like so.

Correct. Since the scheme was not passed, there will be no 6c dividend.

This circus has no winners but I will say that management took the biggest hit because minority shareholder cannot believe management will approve such a scheme.

One shareholder at the meeting called the use of the 6c dividend sweetener as 'unethical' which clearly ruffles the feathers of Chairman Chandra Das.

Personally I find it hard to believe that Eltek has problems getting companies to buy over its stake after an exhaustive 1.5 yr effort.

Thx for the confirmation!

They ought to have just paid out the Div = 6ct on the condition that it'll be deducted from the Offer Price if the Scheme gets passed. Perhaps, the chances would have been higher since shareholders after happily getting their 6ct Div, may just decide to accept the offer as there's no other Div payout to look forward to except one year later.

I have decided to join the circus as I'm a sucker for High Yield (10%+ if they maintain FY 10 Div = 4ct) track record, High Cash (14.93ct / share), Negligible Debts,... even if they have no Growth.

Eltek ASA had collected shiok shiok dividend every year and the dividend for this year was not declared because of the takeover offer. Since the offer has lapsed, they sure quick hand quick leg arrange for a special dividend.

no dividend dun quote me hor.....

No worries... Will find out soon as 1H12 (Jun) reporting is just around the corner. If not, wait another 6mths.