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Since the company is now just cash, it should be the cash value?
Pushing up to 9.5c now, with quite a good volume. Maybe someone really decide to buy up the company to RTO? 1c/share premium for listing would be consider cheap enough?
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NAV of around 8.4c. Trading at 9.5c. Premium of 1.1c will sound more reasonable than a 17c premium. Think you are getting my point. Then again, still got to consider the fact that it may be delisting soon
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(06-11-2013, 09:24 AM)NTL Wrote: Since the company is now just cash, it should be the cash value?
Pushing up to 9.5c now, with quite a good volume. Maybe someone really decide to buy up the company to RTO? 1c/share premium for listing would be consider cheap enough?
I always be puzzled by irrational behavior of stock market. May be I am not as informed as them.
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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10million shares traded today! Consider that the cash is 8.4c/share, why are people still buying at 9 over cents? Are the buyers the smart ones, or the sellers? Or simply just gambling?
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Elite KSB is going to distribute 7.8c again on 26Nov, bringing the remaining cash down to $0.83M to be use for outstanding settlement and other costs. That will bring the share price to 1c after book closure?
Elite KSB going to become a sub-penny stock!
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07-11-2013, 09:12 PM
(This post was last modified: 08-11-2013, 09:26 AM by CityFarmer.)
(07-11-2013, 08:23 PM)NTL Wrote: Elite KSB is going to distribute 7.8c again on 26Nov, bringing the remaining cash down to $0.83M to be use for outstanding settlement and other costs. That will bring the share price to 1c after book closure?
Elite KSB going to become a sub-penny stock!
We are not less informed than those bought it above NAV. They might invest with their eyes closed.
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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Lets see what happen after XD. Maybe someone really preparing to RTO at sub-penny level. Still possible, right?
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08-11-2013, 09:16 AM
(This post was last modified: 08-11-2013, 09:26 AM by CityFarmer.)
(07-11-2013, 09:43 PM)NTL Wrote: Lets see what happen after XD. Maybe someone really preparing to RTO at sub-penny level. Still possible, right?
Base on my understanding, it is highly unlikely, due to the SGX rules, and the company didn't apply for extension.
With cash less than 1 mil, it is also insufficient to fund a RTO proceedings.
Well, as I always said, I might be wrong. If so, it will be a good opportunity to learn.
(not vested)
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡