Posts: 2,966
Threads: 71
Joined: Sep 2010
Reputation:
52
I have noticed Eastern Holdings' share price has been traded above $0.18 since 20Mar13 (last Wed), and in fact it closed at $0.195 on 22Mar13 (last Friday). Something positive - like another GO attempt by controlling shareholder Stephen Tay to privatize the company? - coming?
With property assets - mostly in the market for sale - and a large/growing cash reserve with a total realisable/distributable value of some $0.40/share, Eastern Holdings appears to be a pretty good value investing bet for those who can wait for the eventual cash distribution, or another GO likely at a higher price.
Posts: 2,743
Threads: 23
Joined: Mar 2013
Reputation:
25
If Eastern is valued at $100m mkt cap (33 cts per share), it only costs $18m cash to buy out all minority shareholders.
There is >$18m cash in the company.
Posts: 2,743
Threads: 23
Joined: Mar 2013
Reputation:
25
If more than >8% minority undertake to vote FOR 2 delisting resolutions, the delisting is a done deal.