Whats Left for Elite KSB?
In the latest announcement on 18th June, Elite KSB is pursuing a possible Reverse Takeover (RTO). After talking to a few potential investors, they prefer Elite KSB to be a shell company with NO ASSETS other than cash.
Therefore, Elite KSB sold away its last investment, KSB China Holding.
With that sale, Elite is left with $0.2257 cash per share. Elite KSB also proposed to distribute $0.066 per share.
Elite KSB should worth only $0.2257 now.
I am not paying $0.30 ( at the point of writing this article ) for a $0.2257 company. Moreover, after the sale of assets, SGX will require Elite KSB to secure a new deal within 1 year, failure of which, will breach the listing requirement.
Other cash companies that failed to pursue a RTO include Bright Orient ( cash $0.07, trading at $0.05 last done) and Shanghai Asia ( cash $0.0975, last done $0.096 ).
Other companies that failed to conclude an RTO are Digiland, Lankom Elec, Communication Design, & many others.
In the latest announcement on 18th June, Elite KSB is pursuing a possible Reverse Takeover (RTO). After talking to a few potential investors, they prefer Elite KSB to be a shell company with NO ASSETS other than cash.
Therefore, Elite KSB sold away its last investment, KSB China Holding.
With that sale, Elite is left with $0.2257 cash per share. Elite KSB also proposed to distribute $0.066 per share.
Elite KSB should worth only $0.2257 now.
I am not paying $0.30 ( at the point of writing this article ) for a $0.2257 company. Moreover, after the sale of assets, SGX will require Elite KSB to secure a new deal within 1 year, failure of which, will breach the listing requirement.
Other cash companies that failed to pursue a RTO include Bright Orient ( cash $0.07, trading at $0.05 last done) and Shanghai Asia ( cash $0.0975, last done $0.096 ).
Other companies that failed to conclude an RTO are Digiland, Lankom Elec, Communication Design, & many others.
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