Elite KSB Holdings

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Wow this case study serves as a reminder that speculating on a "businessless" company to have an RTO is dangerous too
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I will be collecting $300 from them then... Sigh...
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(04-11-2013, 09:50 PM)CityFarmer Wrote: 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
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my farewell salute to mrchew..
good bye elite ksb
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(04-11-2013, 09:50 PM)CityFarmer Wrote: 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.
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(05-11-2013, 12:19 AM)PkNanas Wrote:
(04-11-2013, 09:50 PM)CityFarmer Wrote: 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.
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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Ok. $160 for me.
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Does this mean the entire company will be liquidated and be delisted?
My Dividend Investing Blog
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Yes. No business to continue listing.
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(05-11-2013, 11:35 AM)NTL Wrote: 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? Huh
My Dividend Investing Blog
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