A rights issue recently, 11 rights at A$0.06 or S$0.0771 for every 20 shares was issued.
NTA of A$0.1341 before the rights.
After the rights issue, NTA will be A$0.088 or S$0.11 based on 560 million shares after the rights issue.
If the litigation case was won, A$17.76 million will be received by Maccook PSF, NTA will increase by A$0.031 or S$0.04, to A$0.119 or S$0.15.
My take:
1) Continue to hold Maccook PSF for capital gain
2) George Wang through AIMS Group have purchased 4 million shares from ASX. This signals the start for AIMS Group to re-ramp Maccook PSF after taking over PSF in 2009.
3) Part of the proceeds from the rights will be used to repay OCBC banking facilities. Upon paying A$1.9 million outstanding loan, Maccook PSF can resume its dividend payout.
4) Current price of S$0.078 is a 48% discount off the potential NTA of Maccook, and 30% discount off its NTA.
NTA of A$0.1341 before the rights.
After the rights issue, NTA will be A$0.088 or S$0.11 based on 560 million shares after the rights issue.
If the litigation case was won, A$17.76 million will be received by Maccook PSF, NTA will increase by A$0.031 or S$0.04, to A$0.119 or S$0.15.
My take:
1) Continue to hold Maccook PSF for capital gain
2) George Wang through AIMS Group have purchased 4 million shares from ASX. This signals the start for AIMS Group to re-ramp Maccook PSF after taking over PSF in 2009.
3) Part of the proceeds from the rights will be used to repay OCBC banking facilities. Upon paying A$1.9 million outstanding loan, Maccook PSF can resume its dividend payout.
4) Current price of S$0.078 is a 48% discount off the potential NTA of Maccook, and 30% discount off its NTA.
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