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Yes very happy with that update, I was expecting a greater covid impact, nicely ticking along.
will be topping up on any weakness
Until next time ;)
The Board of Directors of Steppe Cement Ltd ("Steppe Cement" or the "Company") is pleased to announce that Gan Chee Leong and Charles Tingey have been appointed as Alternate Director to Chief Executive Officer ("CEO"), Javier del Ser Perez, and Independent Non-Executive Director ("Director"), Rupert Wood, respectively, with immediate effect. The Alternate Directors shall represent the CEO and Director in board meetings held in Malaysia due to the impact of the Covid-19 pandemic on travel arrangements.
Gan Chee Leong, 64, is currently the Executive Director of Mechanical and Electrical Consulting Services Ltd and Director of Steppe Cement (M) Sdn Bhd. He was formerly a key member of senior management in Steppe Cement's subsidiaries, Central Asia Cement JSC ('CAC") and Karcement JSC ("Karcement") from August 2004 until his retirement from full time engagement in Kazakhstan. He was the General Director of Karcement since 2007 and Director of CAC and Karcement till end of 2018.
He is a Chartered Accountant from England and Wales. He started work in Kuala Lumpur as a senior auditor with a well-known international firm. He has about 27 years of experience in cement industry in various capacities. Before joining CAC and Karcement, he was General Manager, Marketing of a leading cement company in Malaysia and held various directorships within the Group companies. He also held a number of positions in the Cement and Concrete Association Malaysia and was once the Deputy Secretary General of Asian Federation of Cement Manufacturers.
Gan Chee Leong holds a beneficial interest in 160,000 ordinary shares in Steppe Cement, representing approximately 0.07% of the Company's issued share capital.
Gan Chee Leong currently holds or has held the following directorships or partnerships in the last five years:
Interim Results for the Half Year ended 30 June 2020
- Selling costs reduced by 20%
- Operating profits rose 39% to $11m (2019: £7.9m)
- Swing to net cash of $6.4m (2019: net debt of $1.1m)
- post period end the outstanding loan to Halyk Bank was repaid in advance.
https://investegate.co.uk/steppe-cement-ltd--stcm-/rns/interim-results-and-general-market-update/202009160700041446Z/
No nasty surprises in there, better than I expected.
Until next time ;)
Steady as she goes
Update
thansk timmit - good to know.
The 52 week high was 37.50 back early January. But it seems that the offer price under the Malaysian system Once 33% is breached is the highest share price in the preceding 6 months (about 35p back in March) not 12 months as the UK system.
Normally for uk Quoted companies yes. This company is registered in Malaysia so the trigger level seems to be 33%
https://www.ibanet.org/Document/Default.aspx?DocumentUid=9396529C-A9F3-40E0-8809-2FF831949659
RNS btw
Doesn’t he need to make an offer?
Alavib - I'm with HL and I received mine on the specified date. At the risk of teaching you to suck eggs, did you purchase the shares by the ex-dividend date to qualify for the dividend payment?
Hi everyone
Can anyone tell me if they had received the 3P divi which was supposedly paid out on July 31?
As I deal with HSBC INVEST DIRECT and I have just checked my account and no divi payment is showing
Has anyone else have had this problem
Needless to say I have complained to HSBS share dealing people for not being aware of such payment even though they are my nominee account holder!!
As Kazakhstan's rate of positive coronavirus tests appears to have stopped increasing, hopefully the Tenge will start to recover and fall back below 400 per USD.
to top up if there is a dip.
be a small dip on payday given the cash outflow. but all ought to have been factored in by now.
two weeks to payday! :)
I have a soft spot for this company for some reason. I just discovered the videos on its website. So sweet. I think as time goes on Steppe can automate its production line even more and get people to do less backbreaking work. But one has to start somewhere and build it up gradually.
http://www.steppecement.com/cementpacking/
The Line 5 opening ceremony is so sweet. Is the theme tune in the background from Dallas? Love it.
http://www.steppecement.com/line5/jun2014.php
good luck, marymoo.
def one i'm keeping in back of mind - looks like infra is front and centre going forward. and if you are going to build, generally, you need heeps of cement.
Thank you bigsmoke. It cleared it up for me.
I spent some time reading Steppe's annual report and financials yesterday. I'm a bit sentimental but I really like the company. They seem to be improving the factory every year, aiming to keep the debt level under control and there is always positive indicators of how Steppe is looking after its staff.
not too sure why you wouldn't have sold this morning...? Got out, let the stock fall 10%, as its done. Then get back in..