2nd Chance Properties

(10-08-2012, 09:54 PM)camelking Wrote: i guess the management is trying to maintain the current share price so that warrant holders will be interested to convert their warrants at exercise price of 32 cents.
There are 147m worth of such warrants which will expire in Sep 2013 ie slightly more than one year from now.

As at June 2012, total loans for the company is around 48m. Assuming all warrants are converted, it will raise around 47m worth of cash....almost enough to pay off the loans..... ...
Based on cash flow statement for june 12 and 11, operating cash inflow is around 15m or so....

Interesting....

Vested since long time ago......

I had vested only recently. Since you are long time shareholder, you must be enjoying the bonus shares, bonus warrants and scrip dividend schemes so far. It is a fruitful investment, isn't it?

The gearing ratio had been reduced significantly to 0.26, from 0.48 a year ago. I had taken it as a rational move to prepare for any opportunities arises in near future.

(vested)

I don't think gearing is an issue here - if it was, they wouldn't have invested their excess cash into over $40 million worth of listed equities (namely SGX listed REITs). The cash raised is probably earmarked for property investment or taking up equity stakes in property development JVs. Meanwhile, they could always park it inside REITs equities.

(Not Vested)

(11-08-2012, 11:14 AM)Nick Wrote: I don't think gearing is an issue here - if it was, they wouldn't have invested their excess cash into over $40 million worth of listed equities (namely SGX listed REITs). The cash raised is probably earmarked for property investment or taking up equity stakes in property development JVs. Meanwhile, they could always park it inside REITs equities.

(Not Vested)

I agreed with you gearing is never an issue for SecondChance.

But with reducing gearing ratio, it will allow the management to raise fund via bank debt quickly if any opportunities arises e.g. a dive in properties market

(11-08-2012, 11:10 AM)CityFarmer Wrote:

(10-08-2012, 09:54 PM)camelking Wrote: i guess the management is trying to maintain the current share price so that warrant holders will be interested to convert their warrants at exercise price of 32 cents.
There are 147m worth of such warrants which will expire in Sep 2013 ie slightly more than one year from now.

As at June 2012, total loans for the company is around 48m. Assuming all warrants are converted, it will raise around 47m worth of cash....almost enough to pay off the loans..... ...
Based on cash flow statement for june 12 and 11, operating cash inflow is around 15m or so....

Interesting....

Vested since long time ago......

I had vested only recently. Since you are long time shareholder, you must be enjoying the bonus shares, bonus warrants and scrip dividend schemes so far. It is a fruitful investment, isn't it?

The gearing ratio had been reduced significantly to 0.26, from 0.48 a year ago. I had taken it as a rational move to prepare for any opportunities arises in near future.

(vested)

very fruitful investment.....if i remember correctly, went in 6 years ago around 20 to 30 cents.....
So far, no reason to sell the shares....in fact, looking at buying some more........
As i mentioned earlier, the co could be debt free in one year time with 15m cash-inflow......
Such a position allows company to seize lots of opportunities in future.........worth taking a risk in my opinion

(11-08-2012, 05:23 PM)camelking Wrote: very fruitful investment.....if i remember correctly, went in 6 years ago around 20 to 30 cents.....
So far, no reason to sell the shares....in fact, looking at buying some more........
As i mentioned earlier, the co could be debt free in one year time with 15m cash-inflow......
Such a position allows company to seize lots of opportunities in future.........worth taking a risk in my opinion

Six (6) years! If you participate in every scrip dividend scheme, received the bonus shares and bonus warrants, i estimate it is approx 3-4 bagger for your investment, isn't it?

(11-08-2012, 06:05 PM)CityFarmer Wrote:

(11-08-2012, 05:23 PM)camelking Wrote: very fruitful investment.....if i remember correctly, went in 6 years ago around 20 to 30 cents.....
So far, no reason to sell the shares....in fact, looking at buying some more........
As i mentioned earlier, the co could be debt free in one year time with 15m cash-inflow......
Such a position allows company to seize lots of opportunities in future.........worth taking a risk in my opinion

Six (6) years! If you participate in every scrip dividend scheme, received the bonus shares and bonus warrants, i estimate it is approx 3-4 bagger for your investment, isn't it?

only started to participate in the scrip dividend recently......
don't really track the returns...6 yrs is a long time to track....
maybe 100 to 200% return i guess......don't know....

To me, it is pointless to track how much u made or lost....it is
'sunk' cost or profits....
What matters most is the future ....

The management did share buy-back today again, total 3,043,000 shares @ 0.385

http://info.sgx.com/webcorannc.nsf/Annou...endocument

The last three (3) buy-back total 7,495,000 shares

(13-08-2012, 06:20 PM)CityFarmer Wrote: The management did share buy-back today again, total 3,043,000 shares @ 0.385

http://info.sgx.com/webcorannc.nsf/Annou...endocument

The last three (3) buy-back total 7,495,000 shares

I rather management stop issuing 'bonus shares' instead. At the rate they are issuing bonus and warrants, they are turning their own shares into 'banana shares'.

The management did share buy-back today again, total 527,000 shares @ 0.385

http://info.sgx.com/webcorannc.nsf/Annou...endocument

The last four (4) buy-back total 8,022,000 shares

This is done before the final AR on the new financial year end. Any clue to take away here?

(14-08-2012, 06:39 PM)CityFarmer Wrote: The management did share buy-back today again, total 527,000 shares @ 0.385

http://info.sgx.com/webcorannc.nsf/Annou...endocument

The last four (4) buy-back total 8,022,000 shares

This is done before the final AR on the new financial year end. Any clue to take away here?

Either they are deliberately hinting that they are giving away huge dividend or they are buying because of the final dividend

(not vested)