China Merchants Holdings Pacific

(07-05-2015, 08:00 PM)greengiraffe Wrote: http://infopub.sgx.com/Apps?A=COW_CorpAn...l_Road.pdf

There was a reclassification on traffic numbers were being accounted. GG is confused... any buddies care to shed some light?

GG

It is just alignment of traffic volume measurement for all roads. As for the exact definition of "Full Trip Equivalent Traffic Volume" methodology, is beyond me :D

http://infopub.sgx.com/FileOpen/Cancella...eID=349104

CHINA MERCHANTS HOLDINGS (PACIFIC) LIMITED
(Incorporated in the Republic of Singapore)
Company Registration No. 198101278D
ANNOUNCEMENT
CONVERTIBLE BONDS DUE 2017 -
CANCELLATION OF BONDS DUE TO CONVERSION
The board of directors (the “Board”) of China Merchants Holdings (Pacific) Limited (the “Company”) wishes to announce that HK$12,000,000 in aggregate principal amount of HK$1,163,000,000 1.25 per cent. convertible bonds due 2017 (credit enhanced until 2015) (the “Convertible Bonds”) have been converted and cancelled pursuant to the exercise of conversion rights by the holder thereof (the “Conversion”). Accordingly, following such conversion and cancellation, the aggregate principal amount of the Convertible Bonds remaining outstanding as of 11 May 2015 is HK$584,000,000.
Arising from such conversion, 2,293,229 new ordinary shares in the capital of the Company (“Shares”) have been issued at the conversion price of S$0.826 and the total number of issued and paid-up Shares of the Company has increased to 1,091,706,242.
BY ORDER OF THE BOARD
Lim Lay Hoon
Company Secretary
Singapore, 11 May 2015


Based on outstanding HK$584m worth of CBs, the potential shares to be converted at $0.826 is 111.604m.

Short of the market telling us the price tomorrow, does anyone have the fair value of CMPacific's share price after bonus shares and ex-dividend based on today's closing price?

It should lie somewhere on a function of the current number of shares and current NAV, along with the number of bonus shares and respective issue price, and the dividend per share.

After all the dilution, I'm sorta confused but would appreciate it if someone has the math.

(vested)

(11-05-2015, 09:26 PM)shawn_sass Wrote: Short of the market telling us the price tomorrow, does anyone have the fair value of CMPacific's share price after bonus shares and ex-dividend based on today's closing price?

It should lie somewhere on a function of the current number of shares and current NAV, along with the number of bonus shares and respective issue price, and the dividend per share.

After all the dilution, I'm sorta confused but would appreciate it if someone has the math.

(vested)

Should be about $1.05. In theory of course.

https://www.msci.com/eqb/gimi/smallcap/M...icList.pdf

CMP is one of the 4 additions to the small cap index alongside with Kep DC, SIIC and SPH Reit.

Vested
GG

http://infopub.sgx.com/FileOpen/Cancella...eID=349696

ANNOUNCEMENT
CONVERTIBLE BONDS DUE 2017 -
CANCELLATION OF BONDS DUE TO CONVERSION
The board of directors (the “Board”) of China Merchants Holdings (Pacific) Limited (the “Company”) wishes to announce that HK$15,000,000 in aggregate principal amount of HK$1,163,000,000 1.25 per cent. convertible bonds due 2017 (credit enhanced until 2015) (the “Convertible Bonds”) have been converted and cancelled pursuant to the exercise of conversion rights by the holder thereof (the “Conversion”). Accordingly, following such conversion and cancellation, the aggregate principal amount of the Convertible Bonds remaining outstanding as of 13 May 2015 is HK$569,000,000.
Arising from such conversion, 2,866,537 new ordinary shares in the capital of the Company (“Shares”) have been issued at the conversion price of S$0.826 and the total number of issued and paid-up Shares of the Company has increased to 1,094,822,779.
BY ORDER OF THE BOARD
Lim Lay Hoon
Company Secretary
Singapore, 13 May 2015

Based on outstanding HK$569m worth of CBs, the potential shares to be converted at $0.826 is 108.737m.

Revolving Loan

Acquisition on the horizon?

Don't remember that there is any debt due this year

US$50m revolving facilities do not seem to be a sizable amount at the first glance...

US$50m = RMB 310m.

Drawing on the most recent acquisition - Jiurui:

Issue of the Consideration Shares to the Sellers (or their nominee,
Hongda Asia Limited) at an issue price of S$0.985 per Consideration
Share (based on an exchange rate of S$1.00 : RMB4.938) - 580,631,580.52

Payment of the Cash Consideration to the Sellers (or their nominee) in
cash - 116,776,469.41

Total Consideration 697,408,049.93

CMP paid RMB116.8m for cash outlay acquiring Jiurui at an enterprise value of RMB2.8bn.

Hence if the facilities of US$50m is meant for new acquisition(s), based on the Jiurui experience, it could possibly mean that acquisition 3 times that of Jiurui could be in the offing.

Dreaming and Vested
GG

(22-05-2015, 08:07 PM)marandaz Wrote: Revolving Loan

Acquisition on the horizon?

Don't remember that there is any debt due this year

1st CB Conversion after adjustment of conversion terms to 0.776

http://infopub.sgx.com/FileOpen/Cancella...eID=353520

CONVERTIBLE BONDS DUE 2017 -
CANCELLATION OF BONDS DUE TO CONVERSION
The board of directors (the “Board”) of China Merchants Holdings (Pacific) Limited (the “Company”) wishes to announce that HK$4,000,000 in aggregate principal amount of HK$1,163,000,000 1.25 per cent. convertible bonds due 2017 (credit enhanced until 2015) (the “Convertible Bonds”) have been converted and cancelled pursuant to the exercise of conversion rights by the holder thereof (the “Conversion”). Accordingly, following such conversion and cancellation, the aggregate principal amount of the Convertible Bonds remaining outstanding as of 27 May 2015 is HK$565,000,000.
Arising from such conversion, 813,663 new ordinary shares in the capital of the Company (“Shares”) have been issued at the conversion price of S$0.776 and the total number of issued and paid-up Shares of the Company has increased to 1,095,636,442.
BY ORDER OF THE BOARD
Lim Lay Hoon
Company Secretary
Singapore, 27 May 2015

Based on outstanding HK$565m worth of CBs, the potential shares to be converted at $0.776 is 114.930m.

(27-05-2015, 06:32 PM)greengiraffe Wrote: 1st CB Conversion after adjustment of conversion terms to 0.776

http://infopub.sgx.com/FileOpen/Cancella...eID=353520

CONVERTIBLE BONDS DUE 2017 -
CANCELLATION OF BONDS DUE TO CONVERSION
The board of directors (the “Board”) of China Merchants Holdings (Pacific) Limited (the “Company”) wishes to announce that HK$4,000,000 in aggregate principal amount of HK$1,163,000,000 1.25 per cent. convertible bonds due 2017 (credit enhanced until 2015) (the “Convertible Bonds”) have been converted and cancelled pursuant to the exercise of conversion rights by the holder thereof (the “Conversion”). Accordingly, following such conversion and cancellation, the aggregate principal amount of the Convertible Bonds remaining outstanding as of 27 May 2015 is HK$565,000,000.
Arising from such conversion, 813,663 new ordinary shares in the capital of the Company (“Shares”) have been issued at the conversion price of S$0.776 and the total number of issued and paid-up Shares of the Company has increased to 1,095,636,442.
BY ORDER OF THE BOARD
Lim Lay Hoon
Company Secretary
Singapore, 27 May 2015

Based on outstanding HK$565m worth of CBs, the potential shares to be converted at $0.776 is 114.930m.

Outstanding CB Value (excluding today's conversion): HK$569 million = S$89.81 million (exchange rate fixed at 6.3351)

Conversion Price: $0.7760

Number of additional shares: 115.73 million

Current Share Float: 1,094 million x 1.05 = 1,149 million (1 for 20 bonus)

Diluted Share Float: 1,149 million + 116 million = 1,265 million

If CM Pacific manages to post earnings of HK$650 million, the fully diluted EPS works out to 8.9 SG cents.

(Vested)