Baker Tech

[BlueKelah]

Just had a look at this counter, very interesting management, run by accountant, doctor and lawyer.

Seeing that they made 8 million+ after a couple years investing in the "holland" company IPO, I think it proves management is pretty good at investing.

Hope they can use the 23cents to get some value cash cow to generate more stable returns.

will be vested very soon

29/1 -Vested-

[valuebuddies]

Action spotted, touching 30c with high volume. Are we expecting another round of special dividend? Or announcement of new acquisition? Good Q4 results?

[BlueKelah]

dunno but dun really care, During these uncertain times, this counter with such high amount of cash just looks too juicy for me to pass up.

So long its not an S-Chip chances are the money is definitely there in which case a few exciting things can happen

1) Acquire some other holdings.
2) Special Divs (highly likely if you saw what happened last year)
3) Get bought up and GO by someone.
4) worst thing that can happen - Reverse Takeover by some smart ass company from overseas.

This is definitely not buying a dollar for 50cents but at least almost a dollar to a dollar.

- invested -

[BlueKelah]

BlueKelah, aren't you worried abt the company warrants? When they are fully converted, all the juicy stuff will be heavily diluted.

""heavily diluted"" I think not just read the latest Q313 report...

Preview for you to calculate anyway you want -->
2012 Warrants expires 5 June 2015 @ S$0.185 , total 144,708,822 left

even if all converted by next year, dilution would be only about 5% balance sheet wise at current prices.

NOTE for newbies : this is not a good example of deep value stock.

-vested-

[smallcaps]

BlueKelah, aren't you worried abt the company warrants? When they are fully converted, all the juicy stuff will be heavily diluted.

""heavily diluted"" I think not just read the latest Q313 report...

Preview for you to calculate anyway you want -->
2012 Warrants expires 5 June 2015 @ S$0.185 , total 144,708,822 left

even if all converted by next year, dilution would be only about 5% balance sheet wise at current prices.

NOTE for newbies : this is not a good example of deep value stock.

-vested-

If all converted by next year wouldn't it result in a mandatory offer?

[BlueKelah]

BlueKelah, aren't you worried abt the company warrants? When they are fully converted, all the juicy stuff will be heavily diluted.

""heavily diluted"" I think not just read the latest Q313 report...

Preview for you to calculate anyway you want -->
2012 Warrants expires 5 June 2015 @ S$0.185 , total 144,708,822 left

even if all converted by next year, dilution would be only about 5% balance sheet wise at current prices.

NOTE for newbies : this is not a good example of deep value stock.

-vested-

If all converted by next year wouldn't it result in a mandatory offer?

how would it result in a mandatory offer?

[smallcaps]

BlueKelah, aren't you worried abt the company warrants? When they are fully converted, all the juicy stuff will be heavily diluted.

""heavily diluted"" I think not just read the latest Q313 report...

Preview for you to calculate anyway you want -->
2012 Warrants expires 5 June 2015 @ S$0.185 , total 144,708,822 left

even if all converted by next year, dilution would be only about 5% balance sheet wise at current prices.

NOTE for newbies : this is not a good example of deep value stock.

-vested-

If all converted by next year wouldn't it result in a mandatory offer?

how would it result in a mandatory offer?

Increase in controlling shareholder's deemed interest? Not sure if warrant conversion got exempt or not though...

[BlueKelah]

controlling shareholder is 40%+
even after warrant conversion not enough to even GO unless combine with other top 20 shareholders

Even then is a good outcome coz a premium will be offered

[smallcaps]

controlling shareholder is 40%+
even after warrant conversion not enough to even GO unless combine with other top 20 shareholders

Even then is a good outcome coz a premium will be offered

Thought any amount can GO? I think if the warrants subject to 1% rule then the doc would need to make a decision before expiry. 100mil warrants is like 10 mil gain currently. He should be cash rich right now from the 10 cents dividend, I presume?

[BlueKelah]

controlling shareholder is 40%+
even after warrant conversion not enough to even GO unless combine with other top 20 shareholders

Even then is a good outcome coz a premium will be offered

Thought any amount can GO? I think if the warrants subject to 1% rule then the doc would need to make a decision before expiry. 100mil warrants is like 10 mil gain currently. He should be cash rich right now from the 10 cents dividend, I presume?

I only know that at 30% effective control the party needs to mandatory GO. Since the owner already has 40+% He must have made a GO before which not successful.

With regards to the warrants, if after conversion his stake increase 1% within 6 months then he will have to make a GO as well. Previous warrant conversion must have seen his share increase 1% so maybe GO was also made and not successful.

If no GO was made maybe he is exempt from GO until the company comes under the delisting rules.

Look at F&N, kena Charoen liao still neh neh stick there dun wanna delist..

Dunno what the ppl at SGX are up to.