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To deliver cost-effective and timely divestments of remaining properties, and to deliver further returns of capital to shareholders.
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Why? Terrible technicals here, but support at around 220p? Stop losses being triggered, or China worries?
Return of capital arrived today thanks very much BOD Macau already dwarfs Vegas — and China's gaming hub is getting even bigger http://www.macaudailytimes.com.mo/business/52421-macau-already-dwarfs-vegas-
Yes the special divi, SP moving up again, good time to buy in or add to existing shares
Reflects payment made to shareholders
Top up guys it could be the last day to get 21p divi, record date Monday the 14th April, ex divi date usually a couple of business days before record date.
Yes NAV will rise with more buy backs that's for sure. I wonder when the next one will be and whats the criteria for spending the cash to take the shares out of the market. I am wondering if any of this cash return will find its way into buying back shares, its possible.
NAV will be interesting to monitor. I will have to change my model as they are paying out as well as buying back in. Been OK on the NAV estimate so far, but will need to have a re-look, although net result will be the same I think. Not sure of the Tax implications re Capital Gains and dividend. Looking at activity in Macau I am looking for a further 20% growth in NAV, and with buy back in place should see a further 25% growth over next 12 months.
Yes it is complicated we both get the same amount back 21p per share, My B shares get cancelled and redeemed as cash (21 p) Your B shares called B dividend shares also pay out the 21p , then get to be called deferred shares which will have nominal value 0.01p but they will probably be cancelled by the end of the day so they dont have any real value. From what I can gather it’s all to do with income tax and US holders only are allowed B share dividend option.. All of this is assuming the vote is passed on the 7th April which it should be I guess. If property values continue to go up in Macau and the BOD continue buy back shares and return cash to share holders. Plus in the future to pay out 50% of the profits to share holders this will be a brilliant share to hold and to add to on dips
I took the B share dividend. Seemed a good idea at the time and just had to click a box in my account. Maybe I missed something. I did not read that thoroughly to be honest. Just thought B shares would not be traded and value same. Nice to get a bit back, although I am very happy with this holding and will continue to monitor NAV.
Yes agreed with the continued buy back it should keep the NAV high and the SP high plus special dividend returns make it an all round good share to hold. After reading through the paperwork it does appear that the best option is to receive the proceeds of the property sale as B share redemption by default, which means taking no action, rather than the B share dividend (which is somewhat more complicated) It appears the funds will be accredited to our accounts on or around the 29th April. As other have said on here it should be 21p per share Re EGM. I am awaiting my proxy form to vote. The board recommends to vote in favour of resolution 1, 3 and 4 and against resolution 2 Good luck all
This is one of my key holdings. Company is buying back, distributing income- a no brainer for me. Nice earner over the next three years.
Anybody else received, via their broker the 23 page letter from the chairman Re B shares / dividend. I am about to plough through it but it looks like a lot of paper for what will be the probable outcome of to just sit tight. Will be back after reading it, other comments welcome
You are correct-and the bridge will be completed as I recall in 2015 from HK. Went to Macau in 1986-should have bought a flat-they were cheap them-no business and threat of takeover. Loved the place, they were just building the racvetrack then. The only potentail risk is the Chinese government clamping down on the use of Casino's as methods of bribing-but cannot see that working. They are closing down the illegal Gambling dens so for the legitimate looks very good.
OSB, Thanks for that extra info. Do you know when the EGM is? I've heard it is in the next few weeks, but haven't got an exact date. Last year, Macau’s gaming revenues rose by 19 per cent to $45.2bn (£27.2bn), and that follows on from a 13 per cent rise the year before -To put this into perspective, it is six times greater than Las Vegas! Analysts predict that this revenue will rise over the next four years to $77bn by 2017 and that could be a conservative estimate because US investment bank Wells Fargo forecast that revenues could hit $107bn by 2018. What a great opportunity.
Bit more.Consequently, we will be holding an EGM in the near future at which shareholders will be asked to approve a number of proposals including the following; 1 a distribution to shareholders of approximately US$29 million, or US$0.35 (21p) per share, representing the entire net profit generated by the sale of our Zhuhai properties; and 2 the proposal to bring forward the continuation vote to the upcoming EGM and the scheduling of the next continuation vote to no later than 31 December 2016. Subject to the passing of the above resolution, the Board intends that not less than 50% of any future net profits from asset sales will be distributed to shareholders and further acquisitions will be considered only if exceptional shorter-term opportunities present themselves.
Also, in a few weeks at the EGM they will be finalising the return of 21p per share from a recent sale of property. At current share price this represents 8.4% special divi.
Great performing fund-I should get report in the post soon. Prices have risen further in Macau and buy back in place. The NAV must be over £3.00 by now, though I have not done the figures yet-tend to wait until see the buy back figures-but I think we have seen a further 5% growth Q3 without the buyback. The bridge should open 2016. This will see then a possibly a slow down in Residential prices, but commercial prices should continue to grow. MPO have an solid portfolio of Commercial properties and the main Residential Waterside is a prime Lease residential development,
hopefully others will see the value here
Macau prices are still increasing, but I note MPO are rightly looking to consolidate value and continue the buy back of shares.
Well estimated! Good news regarding the proceeds of sale too.
Another good performance. NAV was £2.99 at end of period.
Sale price was spot on. Not sure if it will show in the next NAV-but should do. There have been some big trades-buys, and I assume Company is buying in, though surprised no RNS. There has been a large Institutional buyer as well. Based on Sale, buy backs I have a view NAV will be in range £2.80-£2.99. I favour the low £2.90. But I have no inside knowledge and please do your own research.
Good news today - without going back through previous announcements is that sale figure as anticipated? NAV update now imminent. I'm fully committed elsewhere at present, but look forward to buying here in months to come, keep missing the dips.
Some serious buying has taken place over the last week. I can only assume buy back of shares is occurring. Who is selling is strange.
The Board of Macau Property Opportunities Fund Limited announces that on 30 January 2014, the Company purchased 760,000 of its own ordinary shares of US$0.01 each ("Ordinary Shares") at a price of 206.086p per share. These shares will be cancelled. The purchase represents 0.91% of the Company's total outstanding shares in issue. Following cancellation of the shares, the issued share capital of the Company will be 82,740,000 Ordinary Shares. Further opportunistic purchases of MPO shares may be considered by the Board at suitably attractive prices. That increases NAV by a couple of pence.