The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Whatever £1.06 almost Guaranteed 99.9%. Three Projects in China providing Income One project in China for sale Other undisclosed short term investments. A Chunk of cash ready for investment Dividends 2016 17p, 2017 23p and £1.06 Due ? Shares 886M ish. £1.40 easy. Will it interest many more probably not as still classed as a China stock. I have informed TW it doesn't deserve to be on his filthy 40 list although most of the others do.
going to read this better tonight - at work - i seen the 562m shares figure, but looking at it - that is 63% - so probably still the same number - either way its all good here
Not sure there is a share reduction. My reading was that NLI is the major shareholder in SEA. When SEA distributes its shareholding in AGP down to its shareholders, NLI will then own 562,860,412 shares in AGP and be the main shareholder. The same shares remain on issue but there is a big reshuffle in who owns them.
i revoke my last statement as it is information i believe i mis-interpreted
so were getting an additional £1.06 the shares are been reduced to 562,860,412 we will retain HK4.4bn (£452m) as Net assets of which HK1.75bn Cash (£179m)
Lincoln Lu will be the man for AGP Lambert Lu will guide SEA. Looking over the figures from when they started I think I know how these two if not already will be £ Billionares. This has been a money making machine I just wish I had a % to throw in as I can foresee a Sky Ride. Best Luck all..
yeah - im going through and agree i was first reading it as the whole lot
Yep, I'm reading it the same way. The SEA shareholding is passed down to the next layer of shareholders which will materially improve liquidity making the free float >20%. There is the £1.06 dividend coming in about a month. What's left is all the China assets that according to the 3rd paragraph of note 7 in the notice have a NTA of about £428. This is part cash and part property assets. With 886m shares on issue this is a residual NTA of £0.48 Some moderate to large discount would be appropriate but even a 50% discount puts the fair value at 1.06+.24= £1.30
Just browsing through the document's the two Main director Brothers are splitting apart the AGP company Aim from SEA Hong Kong Listed they have been joined in some ways with a duplication of some assets. When studying this last week I found it a little strange that some of the Building assets were assigned to both companies although the positive valuation sums still seemed to add up. Now AGP is transferring the Hotel and The newly acquired London building to SEA. They will be left with Three buildings in China and a further one which is up for Sale. I have mentioned before the eye watering figures. The china Properties will be worth £257M added to the other figures stated from 31/12/16 converted to £, Cash £596M Short term Investments £143M Bank Borrowings -£340M roughly added this equals £656M Take of the Dividends 23p - £204M so £452M with that taken ? ( £1.06 = £939M ) Presume this is from SEA so if I am somewhat right it will be very interesting to see the complicated figures after the reorganisation. At a guess Nav 50p so share price 30p after all completed ? as seems to always price well below NAV mmmm. ( Ha fag packet calculations )
although i have no idea who is buying at £1.10 a share this is basically an RTO from 97% shareholder at an agreed price £1.06 (there wont be a counter offer)
best 45p a share investment ever
MMM http://www.asiangrowth.com/html/press/AGP_Cir-31.03.2017.pdf
Posted on 31/3 wow. Missed This. 31 March 2017 Asian Growth Properties Limited (“AGP” or the “Company”) Proposed disposal of assets Fundamental change of business Related party transactions Special dividend and Notice of special general meeting The Company is pleased to announce today the proposed AGP Reorganisation, which includes: the entry into a conditional sale agreement with its majority shareholder SEA in relation to the sale of the Company’s Non-PRC Assets to SEA at an aggregate price of HK$8,913,354,000 (£913,637,286); and the AGP Special Dividend Payment to its Shareholders in the amount of HK$10.35 (£1.06) per AGP Share. In addition, SEA has conditionally agreed to the SEA Distribution in Specie of SEA’s shareholding in the Company to SEA Shareholders. A circular to AGP Shareholders will shortly be available on the Company’s website at http://www.asiangrowth.com/html/press/AGP%20announcement%20-%2031.03.17%20FINAL.pdf
Surprising start to Monday No News posted although we know NAV is @ £1.50
Usual Drop on DIVIDEND 23.4p Dividend for anyone holding yesterday Please note you will not get the Dividend buying today
Correction. If following the previous pattern it could rise to £1.16 ( not t £1.36 ) Wish you could edit for 10 minutes when realizing an error. G L
Of the other 2. ELTA is worth a study. it has been a top performing fund for over ten years. It's dividends have been regular at a few % up until this massive one. Although the shares are priced at £50 ish the £26 will half the price for a little while anyway. Two possible plays first buy and hold until it gets back up to today's price which I think it will by August. Whatever I think some good buying will occur on XD day so you could wait until then and buy while low early. It may well not drop quite as expected as some will have orders in to double up at the open on 6/4 . Best luck. This share could well jump a bit yet by close on Wednesday if it follows last years Dividend pattern maybe even £1.36 ?? Of course it may well not also. take care..
The Liquidity has always been the issue - 97% in BOD's hands but at least we know this means they want cash out. 40p in Dividends in 2 years for a share worth 80p Not bad will have a look at them 2 other shares Not topping up here as im happy with what i hold and i believe the SP will drop on Dividend date, Market always does it
True. But it may well rise in the 3 few days before XD on 30th Thursday. Last year on the Dividend declaration in the annual report the share doubled 20p-40p it then crept up to 58p the day before XD on XD Day 26/5/16 it dropped 10p to 48p not the Dividend amount of 17p. ( This sometimes happens as some set buy orders for XD date as price will be lower ) I expect this will rise close to or over £1 by Wednesday but you never quite know as it is not a very liquid share.. Best Luck.. Might become more buyable now as second large Dividend in a row. Would be nice if it could Creep towards the true NAV value. £1.50 - £1.80
So using FRIDAYS CLOSING price of 82p EX DIVIDEND THIS WOULD TECHNICALLY FALL TO 58.5p AT THIS POINT the NET CASH POST DIVIDEND will be 51 p per share, and the NTA will be 158.3p per share including the cash ... the share price would then represent 37% of the real economic value....
Not for the faint hearted You have to have bought in before the XDiv date 30/3 to qualify for the dividend. You can sell on the XD date you will still qualify for the Divi. The share price will fall by the Div amount 23p at opening on XD Date 30/3. Some buy on X day but take into account any share price rise since dividend Declaration. Two other large Dividends. FTVP 61% 18p XDate 30/3 ELTA 53% 2612p XDate 6/4 Take care and Best luck.
20 Moorgate, London, EC2R 6DA Location: In the heart of London, being less than 100 metres north of the Bank of England Usage: Office/Commercial Gross Floor Area : Approximately 14,386 sq. m. (a seven-storey office building with grade A office, retail and ancillary accommodation arranged over lower ground, ground and seven upper floors) http://www.asiangrowth.com/html/eng/property_oversea.html The Property is fully let to two tenants under long term lease agreements. The office accommodation is occupied by the Prudential Regulatory Authority (a regulatory body of the Bank of England) until 30 June 2027 and the sole retail unit is let to Fuller, Smith & Turner Plc until 24 December 2039. The valuation of the Property as at 14 October 2016 by an independent valuer was approximately £157 million (approximately HK$1,520.2 million). The net profit before taxation and after taxation of the Trust (including the change in fair value of investment property) for the year ended 31 December 2015 were both £6.0 million (approximately HK$58.1 million)). The Acquisition represents a net initial yield of 4.4%. Further details of the Acquisition are set out below. BACKGROUND AND REASONS FOR THE ACQUISITION Since the Company’s admission to AIM, the Company has been focused on developing its property portfolio in Hong Kong and mainland China, however there is no geographical restriction to its sphere of activities. It is the AGP Group’s strategy to review and optimise its property portfolio from time to time with a view to achieving the greatest value for its Shareholders. Following the disposal of several projects earlier this year, the Company has been identifying potential acquisition targets in both local and major international markets. The Acquisition is an excellent opportunity for the Company to acquire a high quality commercial property at a prime location in the City of London with a stable rental income.
The Lah Dinga sale has converted property to cash, I said something last year on the lines that this company has been developing for 10 years, directors own 97%, last years dividend will be the first of many, here we are with 2nd dividend and still a huge asset value primarily in cash afterwards
Out of interest this company started trading on AIM in January of 2006. Accounts produced without fail. The share price has never really taken off like it should have ? These special Dividends in 2016 and 2017 are the first dividends offered even though the company has had decent profits most years. It chooses to grow and how it has grown. The NAV at the end of 2006 was 44.9p it is now is quoted conservatively at 150.5p . The groups Hotel ( Crown Plaza Hong Kong Causeway Bay ) has a carrying value on the books at £93.2M It has an actual valued price of £365.7M which would bump the NAV up to 181.8p if applied. The purchase of the property in London proves it a more International company. It has cash in the bank to the tune of £660.4M after all borrowings accounted. Its shareholder value sits at £1,336.3M ( True Hotel value not included ) Maybe it will attain an honest over £1 share price and the dividends will become a more regular occurrence ? Best Luck all.
Sorry should have included you FDEB as you posted the topic. Out of interest taken from the RNS's Mr. Lu Wing Chi, executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 363,684,471 Shares, representing approximately 41.03% of the existing issued share capital of the Company, by virtue of his interests: So 363,684,471 x 23p = Over £83M in his Divi payment. Best luck.