LMA International

[hongonn]

Sorry it's me again.

Read the report in the EGM:

[undefined=undefined]As set out in the Circular, Shareholders should note the following events and their expected dates:
Expected date of Completion : 23 October 2012
Expected last day of trading of the Shares : 25 October 2012
Expected Record Date : 2 November 2012
Expected date for the payment of the Advance Distribution: 9 November 2012
Expected date for the delisting of the Shares : 14 November 2012
Expected date for the payment of the Final Distribution: 28 February 2013[/undefined]

Could senior bros pls advise what do they mean by 'Advance Distribution' and 'Final Distribution'? Say if we do not sell our shares in the open market by 25 October, when will we get the proceeds? I fear it's 28 February 2013, which is ridiculously long! Unless you hold many shares, else it would be better off to rid if we indeed have to wait 3 months!

Time not much a concern for me, but price is the concern.

Throughout the announcement they never mentioned a single word the exact payout for the liquidation. It supposed to be 0.62 but who knows what is the final price.

I was wondering could such scenario happens, the advance distribution is 0.55, then the final distribution is 0.02? And all they need to say, sorry the liquidation expense spent more than expected?

Would it happen?

[d.o.g.]

And all they need to say, sorry the liquidation expense spent more than expected?

Would it happen?

At the EGM it was disclosed that $250k had been set aside for liquidation expenses. Against 582m shares, that works out to less than 0.05 cents per share.

As always, if you are worried you can sell and pocket the money first. Keep in mind that the biggest shareholder is Robert Gaines-Cooper. He is not involved in the liquidation process. He would probably be quite upset if he got less than $0.62.

FWIW it has been announced that the Advance Distribution will be $0.60.

[pianist]

At the EGM it was disclosed that $250k had been set aside for liquidation expenses. Against 582m shares, that works out to less than 0.05 cents per share.
As always, if you are worried you can sell and pocket the money first. Keep in mind that the biggest shareholder is Robert Gaines-Cooper. He is not involved in the liquidation process. He would probably be quite upset if he got less than $0.62.
FWIW it has been announced that the Advance Distribution will be $0.60.

do u mean this $250K liquidation expense was disclosed only at the EGM (and not the accompanying EGM announcement document dispatched to the shareholders)?

[d.o.g.]

do u mean this $250K liquidation expense was disclosed only at the EGM (and not the accompanying EGM announcement document dispatched to the shareholders)?

I can't find any mention of the liquidation expenses in the circular. So that means it was only disclosed at the EGM.

[pianist]

I can't find any mention of the liquidation expenses in the circular. So that means it was only disclosed at the EGM.

thanks for the sharing..with this info..i think most of us vested with LMA can have a gd night sleep tonight..

[hongonn]

And all they need to say, sorry the liquidation expense spent more than expected?

Would it happen?

At the EGM it was disclosed that $250k had been set aside for liquidation expenses. Against 582m shares, that works out to less than 0.05 cents per share.

As always, if you are worried you can sell and pocket the money first. Keep in mind that the biggest shareholder is Robert Gaines-Cooper. He is not involved in the liquidation process. He would probably be quite upset if he got less than $0.62.

FWIW it has been announced that the Advance Distribution will be $0.60.

Thanks d.o.g. If the advance distribution is $0.60, then probably i will keep the shares until delisted. Anyway compared to today closing price $0.605, there is nothing much to lose.

In the end, i might still stand a chance to get lucky and have a surprise.

[pianist]

i find it strange. in the usual delisting offer, shareholders will get some offer to accept and sign off and submit to cdp or something. but it was not for this case, instead it was by way of voting in an egm. so does it mean i no need to do anything besides just waiting for the $0.62 consideration?

[hongonn]

Yeah another 2 more days to go then will disclose the final distribution. Be it 1, 2, 5 or 0 cents.

It is not about the amount, it is the thrill of mystery that excites me. Like lucky draw :p 1st time encounters such thing.

[maniac]

Yeah another 2 more days to go then will disclose the final distribution. Be it 1, 2, 5 or 0 cents.

It is not about the amount, it is the thrill of mystery that excites me. Like lucky draw :p 1st time encounters such thing.

Hi,

A final 5.25 cents was declared and it will be paid on 13 May.

http://www.lmanv.com/Pages/default.aspx

[pianist]

r u kidding me? more than 6 months and then this gift from god?

what am i supposed to do? just check my bank account on 13may2013? how come no sgx announcement?