Elite KSB Holdings

[CY09]

Wow this case study serves as a reminder that speculating on a "businessless" company to have an RTO is dangerous too

[NTL]

I will be collecting $300 from them then... Sigh...

[money]

It is confirmed that there is no RTO, and the company will distribute back its existing cash reserve, thus a voluntary liquidation. The last market cap was S$35 mil @ 26 cents per share.

Ref: http://infopub.sgx.com/FileOpen/EliteKSB...eID=262548

Base on the last report, the cash reserve was S$20 mil, or slightly less than 15 cents per share.

Ref: http://infopub.sgx.com/FileOpen/EliteKSB...eID=261622

It means for those who bought it at 26 cents, they will lose 11 cents per share, after liquidation, barring any further expenses.

I wish no buddies here are caught.

(not vested)

the people who owned the shares at a price higher than 20 cents weren't thinking straight, dont really need to pity them

[pianist]

my farewell salute to mrchew..
good bye elite ksb

[PkNanas]

It is confirmed that there is no RTO, and the company will distribute back its existing cash reserve, thus a voluntary liquidation. The last market cap was S$35 mil @ 26 cents per share.

Ref: http://infopub.sgx.com/FileOpen/EliteKSB...eID=262548

Base on the last report, the cash reserve was S$20 mil, or slightly less than 15 cents per share.

Ref: http://infopub.sgx.com/FileOpen/EliteKSB...eID=261622

It means for those who bought it at 26 cents, they will lose 11 cents per share, after liquidation, barring any further expenses.

I wish no buddies here are caught.

(not vested)

There is capital reduction of 6.6cts/share, ex-entitlement on 18 Oct 2013 (payment on 30 Oct 2010). Thus, the cash reserve as of today should S$20m less $8.9m.

I hope I am right on this.

[CityFarmer]

It is confirmed that there is no RTO, and the company will distribute back its existing cash reserve, thus a voluntary liquidation. The last market cap was S$35 mil @ 26 cents per share.

Ref: http://infopub.sgx.com/FileOpen/EliteKSB...eID=262548

Base on the last report, the cash reserve was S$20 mil, or slightly less than 15 cents per share.

Ref: http://infopub.sgx.com/FileOpen/EliteKSB...eID=261622

It means for those who bought it at 26 cents, they will lose 11 cents per share, after liquidation, barring any further expenses.

I wish no buddies here are caught.

(not vested)

There is capital reduction of 6.6cts/share, ex-entitlement on 18 Oct 2013 (payment on 30 Oct 2010). Thus, the cash reserve as of today should S$20m less $8.9m.

I hope I am right on this.

You are right. I have not tracking the company for a while. The report announced on 29 Oct, and payment is on 30 Oct.

In short, the distribution after liquidation is likely slightly more than 8 cents per share.

[NTL]

Ok. $160 for me.

[Dividend Warrior]

Does this mean the entire company will be liquidated and be delisted?

[NTL]

Yes. No business to continue listing.

[Dividend Warrior]

Yes. No business to continue listing.

I see.....

Not vested. Just curious. Why did the management decide to wind up the business and call it a day?
Is the business not making profits?