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Can I still get this share and get divedent please any help
From the 18th April. Events Expected date AGP Shares marked ex-dividend..........................................................................Thursday, 4 May 2017 Record date for the AGP Special Dividend Payment................................................Friday, 5 May 2017 Proposed date of completion of SP Agreement.....................................................Monday, 15 May 2017 AGP Special Dividend Payment date................................................................... Monday, 15 May 2017
Asset distribution is now scheduled for 15th of May so maybe the Dividend has not yet been distributed ? Or maybe I am reading it wrong ? EXTENSION OF COMPLETION DATE OF THE ASSETS REDISTRIBUTION Reference is made to the circular (the “Circular”) of Asian Growth Properties Limited (the “Company”) dated 31 March 2017 and the announcements of the Company dated 31 March 2017, 11 April 2017, 18 April 2017 and 21 April 2017 (the “Announcements”). Unless the context otherwise requires, capitalised terms used herein shall bear the same meanings as defined in the Circular. As disclosed in the Circular, the disposal of the Non-PRC Assets by way of sale of the entire issued share capital of BSGL by the Company to SEA pursuant to the SP Agreement is conditional on, inter alia, the SEA Independent Shareholders passing an ordinary resolution of SEA to approve the SEA Distribution in Specie. On 4 May 2017, the SEA SGM was duly held and the ordinary resolution approving the SEA Distribution in Specie was duly passed. As disclosed in the Announcements, completion of the SP Agreement is scheduled to take place on 15 May 2017. In accordance with the revised timetable set out in the Company’s announcement dated 18 April 2017, SEA (as buyer of the SP Agreement) and the Company (as seller of the SP Agreement) have by mutual consent agreed to extend the date of completion of the SP Agreement from 4 May 2017 to 15 May 2017 (or such other date as the parties may agree in writing). Save for the above, all other terms and conditions of the SP Agreement have remained unchanged. http://www.asiangrowth.com/html/press/2017.05.04%20Extension%20of%20the%20SP%20Agreement.pdf
Monster Dividend payout £1.06 Once XD date comes around and that is Today the price of the Dividend comes off the share price. Read the threads please.. Best Luck.
How come there has been such a drop, is it purely down to the selling of assets or??? Any time from on recovery:/
surely it is the date it goes through???? The original announcement the exchange rate was higher so £1.06 was stated At today's date it is £1.03
Has the exchange rate been confirmed somewhere for the dividend?
Well Infinityt's post of 27 April has to be one of the best predictions ever. "20p, 40p let us see". After a couple of hours ex dividend trading both price points have been achieved!!!
Reminder for anyone new looking in. AGP has delivered in a big way this last year 3 special dividends. 1/ May 2016 17p 2/ March 2017 23p And today a monster £1.06. It will still have a decent NAV Value per share which will be due to rented/rental and for sale large properties in China also a decent cash pile £400M ish ? which will be re-communicated ( Figuratively ) once the dust here has settled. Read through a few backdated postings below to get the full story.. Best luck all. Well done any holders who were in early Bravo to you..
Yep. Will take a few weeks to settle at a price and some new figures to mull over.. Best Luck.
20p open
Agree Kiwi. If you look back at the yearly financial reports you will see continued growth and honest figures. These two brothers have done very well over the time working together and I believe they will continue to shine and compete to improve each others worth. China is still booming and good assets in large cities are on a par value with similar assets in successful cities around the world. We might actually be surprised at the new NAV and share value after reorganize. 20p ? 40p ? let us see ? and I am confident it will grow well. Best Luck.
I'm actually quite happy with the loss of the "best" assets. They have been transferred out at fair value. It would have been comparatively easy to justify a small (5-10%) discount to NTA and this didn't occur. Also it would have been very easy to ignore the hotels fair value was well above the book value. This didn't occur instead the hotel was revalued to fair value and no NTA discount was applied. This is extremely fair to the minority shareholders giving me confidence that the Chinese brothers are being fair and trying to tidy-up an odd situation rather than pull a swift one. That said I'm still expecting a big discount to NTA post restructure - a sufficiently large discount as to create a good buying opportunity.
Part of the reason for the restructure is that the sp is way below NAV. Despite there being greater free float post restructure, I think this will continue hence sp going even lower. The other thing I dont like is the loss of the best assets to SEA. Do the Chinese brothers know something? If you got in circa 40p, this has been and will be a great investment. Buying in at todays price is a worry. IMO
3 April RNS not 3 March
The following is a summarized balance sheet post reorganization (taken from the 3 March announcement) expressed as a per share value - noting there is about 10HK dollars to the pound. China investment properties HKD2.20 / share Other term assets HKD0.06 / Share (a little bit of PP&E) Bank deposits HKD1.97 / share Receivables HKD0.59 / share Completed properties HKD0.48 / share Various current liabilities -HKD0.25 / share Net assets HKD5.06 / share So the restructured company will have about 20p/share in cash bank deposits another 22p of term investment properties. Unsure of the quality of the receivables and completed properties current assets. IMO a lot of the risk is taken out as the current share price only requires a circa 50% discount to NTA after the special dividend - hence DanBrown83's noted 25p-35p guesstimated price range. The lower end of this should be possible as its only fractionally above the underlying cash assets.
There is a bit of risk to this one. If you get locked in post dividend, you have only chinese assets which are not all 100% leased on a relatively short leasehold ownership. The attractive Hong Kong and London assets which are longer leased have 100% occupancy, but will be owned by SEA AND NOT AGP!!!! Smells fishy. As long as the directors keep thier skin in the game it should be ok, but there is a huge risk the price will collapse disproportionately post dividend. IMO
4PM HK Time Thursday 4th May SEA HKEX Code 251.. This is 9am UK Time. So just saying expected AGP XD date 4th May 8am Open ? http://www.seagroup.com.hk/upload/ew_00251ann-joint%20ann%20re%20revised%20timetable20170418.pdf http://www.hkex.com.hk/eng/invest/company/profile_page_e.asp?WidCoID=251
For Information Revised timetable As disclosed in the Circular and the announcement of the Company dated 31 March 2017, completion of the SP Agreement and AGP Special Dividend Payment is conditional, among others, on the special general meeting of SEA (“SEA SGM”) being held to approve, among other things, the SEA Distribution in Specie. In light of a delay in the despatch of the circular of SEA and the rescheduling of the SEA SGM, completion of the SP Agreement and AGP Special Dividend Payment will also be rescheduled. For the avoidance of doubt, there is no change in the timetable regarding the Company’s SGM. Set out below is the revised timetable for the completion of the SP Agreement and AGP Special Dividend Payment: Events Expected date AGP Shares marked ex-dividend..........................................................................Thursday, 4 May 2017 Record date for the AGP Special Dividend Payment................................................Friday, 5 May 2017 Proposed date of completion of SP Agreement.....................................................Monday, 15 May 2017 AGP Special Dividend Payment date................................................................... Monday, 15 May 2017 The Board would like to clarify that the AGP Special Dividend Payment will be converted to Pound Sterling at the spot rates sourced from The Hong Kong Association of Banks on the ex-dividend date (i.e. Thursday, 4 May 2017) and paid to the Shareholders on the payment date (i.e. Monday, 15 May 2017). Shareholders who elect to receive the special dividend in Hong Kong Dollars should notify the Company in writing to info@asiangrowth.com at least 5 business days prior to the AGP Special Dividend Payment date. http://www.asiangrowth.com/html/press/2017.04.18-AGP-%20Revised%20timetable%20(20170418).pdf
25p- 35p post restructure
In the next couple of weeks both pre and post restructuring, is anyone out there with any idea where this might go? Bit of a quiet board :-) ALB Mostyn
Rns Slight delay ( 1 Week. ) on shareholder notification letter and SGM Date will be rescheduled. http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/AGP/13190940.html Best luck all..
I don't see the point in them moving the SP, when the Bid and Ask prices stay the same... Completely pointless. Up 0.86%, but you still get the same price to buy and sell as yesterday.
The Key here is the understanding of the £1.06 its 90%-95% of current SP If we are not getting the £1.06, and we are been left with NAV ov 55p afterwards - then been here is a real problem If we get the £1.06 as expected )as i'm reading) but its not totally clear - then this is a no brainer I'm fortunate enough to be in low and will have received 40p in dividends for a 45p stake that i can do this, but some may not If the market thought we werent getting the £1.06 - im sure we would have tanked to 40p levels already
Infinityt you are correct - I should have said significantly reduced pile of cash. It was HK$9,778.9m (£1,021.7m) at 31 December 2016 as per the annual report but with some offsetting liabilities. the Pro forma accounts indicate a revised value of HK$1,749.8m after the restructure and dividends. Still strongly cash positive rather than in a net debt position which is common in property companies in NZ (and probably in other locations).