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Sri Lanka Equity Forum » Stock Market Talk » CCS - RIGHTS ISSUE & SUBDIVISION OF SHARES

CCS - RIGHTS ISSUE & SUBDIVISION OF SHARES

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1 CCS - RIGHTS ISSUE & SUBDIVISION OF SHARES on Mon May 09, 2011 4:53 pm

Monster

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
CEYLON COLD STORES PLC
Company ID:- CCS
Date of Initial Announcement :- 05.May.2011
Proportion:- One (01) share for every ten (10) shares held
Issue Price:- Rs. 300.00 per Share
Purpose :- To Infuse Equity to Jayay Marketing Services (Pvt) Ltd (JMSL) and to contribute towards the capital expenditure plans of CCS.

CEYLON COLD STORES PLC
Company ID: CCS
Date ¿ 09.May.2011
Proportion: Each Ordinary Share to be sub¿divided in to Four (04) Ordinary shares
The Sub ¿ Division of shares is subject to shareholder approval at a General Meeting.

Slstock

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Director - Equity Analytics
Director - Equity Analytics
@Monster wrote:CEYLON COLD STORES PLC
Company ID:- CCS
Date of Initial Announcement :- 05.May.2011
Proportion:- One (01) share for every ten (10) shares held
Issue Price:- Rs. 300.00 per Share
Purpose :- To Infuse Equity to Jayay Marketing Services (Pvt) Ltd (JMSL) and to contribute towards the capital expenditure plans of CCS.

CEYLON COLD STORES PLC
Company ID: CCS
Date ¿ 09.May.2011
Proportion: Each Ordinary Share to be sub¿divided in to Four (04) Ordinary shares
The Sub ¿ Division of shares is subject to shareholder approval at a General Meeting.

Now this might be the acid test. Illquid + right issues attractive to current share price + sub division. Financial not upto current share price. But CCS was holdign ground all this time.
These days right issues are negative.

Can CCS prove otherwise?

cse.alpha


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
JKH owns 80% of CCS

Only movement in Top 20 shareholders recently has been buying by Delmage Forsythe accounts

DK


Manager - Equity Analytics
Manager - Equity Analytics
Ok I might be completely mad to ask this question, but isn't the EPS around 10, NAVPS around 120 and the share trading around 800?

The Sub-Division is post rights, so why would this work?

Update:
Scratch that, it can work Smile Sorry about the rambling.

Backstage

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Moderator
I heard that some lucrative plans for the ccs property at slave island would be announced this month.

* please note this is only hearsay...

6 Re: CCS - RIGHTS ISSUE & SUBDIVISION OF SHARES on Mon May 09, 2011 11:30 pm

UKboy

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@cse.alpha wrote:JKH owns 80% of CCS

Only movement in Top 20 shareholders recently has been buying by Delmage Forsythe accounts

If Im not mistaken Delmage also comes under JKH?

7 Re: CCS - RIGHTS ISSUE & SUBDIVISION OF SHARES on Tue May 10, 2011 12:08 am

cse.alpha


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
No, Delmege Forsyth is not part of JKH, at least not yet.

http://www.delmege.com/

CCS Book value was Rs126 per share @ 31.12.2010 - land last revalued on 31.3.2008 (see page 51 of latest CCS Annual Report)

CCS's land in Colombo 2 (5 acres freehold, 3 acres leasehold - see page 78 of last CCS Annual Report) will have risen in value since then, especially with plans to develop Galle Face and moving out of Army, but will book value have risen so far as to justify current share price of around Rs800?

8 Re: CCS - RIGHTS ISSUE & SUBDIVISION OF SHARES on Tue May 10, 2011 12:54 am

Monster

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

9 CEYLON COLD STORES PLC on Tue May 10, 2011 9:17 am

thilankad

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Manager - Equity Analytics
Manager - Equity Analytics

http://thilankadinush.blogspot.com/

10 Re: CCS - RIGHTS ISSUE & SUBDIVISION OF SHARES on Thu Jun 08, 2017 2:14 pm

EquityChamp

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Moderator
Will CCS repeat 2011 in 2017 or 2018?

11 CCS might announce subdivision/rights on Fri Jun 09, 2017 11:48 am

ruwan326

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
CCS might announce subdivision/rights soon Very Happy

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