As of 18 June 2020, the Offeror and its Concert Parties already own 83.35% of issued shares (excluding Shares held in treasury) and 79.96% of maximum potential issued share capital of the Company.
Offer details
The consideration for each Offer Share is S$0.95 in cash (“Offer Price”). The Offeror does not intend to reduce the Offer Price by the final cash dividend of 0.20 cents per Share in respect of the 2019 financial year (the “Final Dividend”). Acceptance of the Offer will not affect Shareholders’ entitlement to the Final Dividend.
Dividend details
Record Date and Time: 07/07/2020 17:00:00
Ex Date: 06/07/2020
Dividend Details
Net Rate (Per Share): SGD 0.002
Pay Date: 21/07/2020
Calculation
Current Share price: 0.94Offer Price: 0.95
Dividend: 0.002
Dividend Yield: 0.21%
0.21% for less than a month compared to 0.08% a month interest converted from 1% p.a. interest we can get from deposits in excess of 10,000 in singlife account.
This short time deposit seems to be a good idea only if we are able to ignore commission.
If taking advantage of low commission platforms e.g. cash upfront accounts or if there are existing commission waived transactions, this would be a better idea. The upside gain is limited as share price is close to the offer price.
| Units | 10,000 | |
| Current Price | 0.94 | |
| Total Cost (bf commission) | 9,400 | |
| Commission | 24.34 | |
| Total Cost (w commission) | 9,424 | |
| Expected Dividend | 20 | 0.002*10,000 |
| Gain per share at offer price | 0.01 | |
| Capital Gain if exit at offer price | 76 | 0.95*10,000-9,424 |
| Interest from short term "fixed deposit" | 96 | 20 + 76 |
| "fixed deposit" interest rate (1 month) | 0.96% | 96 / 10,000 |
Currently queuing in the market at 0.94, will update further if we are able to purchase the shares at that price.
Based on current market depth information, there are 18m shares queuing at 0.94. Lets see if Mr Market will allow us to earn some small change this month.
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