China Merchants Holdings Pacific

[greengiraffe]

http://infopub.sgx.com/FileOpen/Cancella...eID=331084

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$3,000,000 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 12 January 2015 is HK$812,000,000.
Arising from such conversion, 573,307 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 1,046,234,877.

Based on outstanding HK$812m worth of CBs, the potential shares to be converted at $0.826 is 155.175m.

[marandaz]

The previous owner (i.e. Hongda) of Jiurui Expressway has just sold off some CMPac shares

LINK HERE

Sold off 17,600,000 ORDINARY SHARES on 14 Jan

Curiously this transaction is via off-market transaction.

So who is that buyer?

& will it continue?

[Jack31]

The previous owner (i.e. Hongda) of Jiurui Expressway has just sold off some CMPac shares

LINK HERE

Sold off 17,600,000 ORDINARY SHARES on 14 Jan

Curiously this transaction is via off-market transaction.

So who is that buyer?

& will it continue?

I think this just further confirm that jiurui was a real real distress sales by Liu qiang. Some may say be careful as ssh is selling, but the buyer isn't small either IMO. 10million+ sgd is no small sum.

[Jack31]

Also remember jacmar was saying earlier that jiurui seller was in some financial difficulties and was squeeezeeeee...

[Nick]

China Merchants Holdings (Pacific) Limited wishes to announce that it will release its financial results for the full year ended 31 December 2014 on Friday, 27 February 2015, after trading hours.

(Vested)

[CityFarmer]

China Merchants Holdings (Pacific) Limited wishes to announce that it will release its financial results for the full year ended 31 December 2014 on Friday, 27 February 2015, after trading hours.

(Vested)

What is the expectation of FY2014 final dividend?

The interim was 3.5 cents per share. To keep the total dividend on par with previous year i.e. 7 cents per share, the final dividend should be at least 3.5 cents per share.

(vested)

[Nick]

China Merchants Holdings (Pacific) Limited wishes to announce that it will release its financial results for the full year ended 31 December 2014 on Friday, 27 February 2015, after trading hours.

(Vested)

What is the expectation of FY2014 final dividend?

The interim was 3.5 cents per share. To keep the total dividend on par with previous year i.e. 7 cents per share, the final dividend should be at least 3.5 cents per share.

(vested)

I expect it to be maintained at 7 cents per share for FY 2014.

This will further reduce the conversion price of the convertible bonds. The dividend payout policy is at least 50% of core net profit.

[Jacmar]

I am expecting more than 3.5 cents. How can interim div same as final div. I am expecting 4c for final.

[CityFarmer]

I am expecting more than 3.5 cents. How can interim div same as final div. I am expecting 4c for final.

FYI, in both financial year of 2010 and 2012, the interim and final dividends were the same.

FY2010: 2 cents (Interim) and 2 cents (Final)
FY2012: 2.75 cents (Interim) and 2.75 cents (Final)

(vested)

[Jack31]

I think 7c too. Cb conversion price gonna go further down. And with dbs guarantee ending this year, probably most of the cb will be converted by this year. If the holder choose to sell, could see some downward pressure coming..