1114 replies to this topic

[yusufm]

The person probably assumed he/she was selling the n-shares 

I know!   Seen it before with the SHF NPL's, someone bought them at the price of the ordinary shares instead of the npl price. 

Next time I'm going to put in really unlikely bids and offers and hope that someone messes up again 

[PickApprentice]

The person probably assumed he/she was selling the n-shares 

[yusufm]

Someone messed up a sale on GIJ. Can't believe I didn't have a bid in. Instant profit

[yusufm]

CRD with its 3rd MOU in as many weeks! All for US$150 million! Fingers crossed 

[Shi]

nice one @yusufm1

[yusufm]

If I hold it to the end of the day I will try to sell it at 11cps on Monday and sell the rights at 1cps and I should make a tidy profit (since there will be 5 rights issued for every 1 ordinary share held)
Otherwise I can probably get 12c today but will make a lower profit

Out on the ordinary shares. Just waiting for the rights to start trading now...

[yusufm]

Do you expect it to trade above it's rights offer price of 10c ?

If I hold it to the end of the day I will try to sell it at 11cps on Monday and sell the rights at 1cps and I should make a tidy profit (since there will be 5 rights issued for every 1 ordinary share held)
Otherwise I can probably get 12c today but will make a lower profit

[Shi]

Do you expect it to trade above it's rights offer price of 10c ?

[yusufm]

Bought GIJ at 11cps. Really useless company but a short term trade seeing as they go ex-rights on monday

[yusufm]

I have a slight issue with FDP. The IPO price was R1.00. The company is expected to earn 1.68c per share going forward after 2016. That gives you a PE of 59 to start off with. The company will have a once-off revaluation gain of about 12c in 2015 with a net asset value of 26c after the fair valuation. I think 60c is simply overvalued. This is assuming that the property market is going to continue to growth. I think there is still a long way to go before the company reaches R1 again. 
 
Is there something that I have missed? I have obtained all my information from the pre-listing statement.

According to the most recent set of results, the NAV is at 123cps and they havent revalued their assets this year as yet so I think we can expect it to grow a bit more. You are right about the high PE though.
Perhaps the company seeks to grow mainly from capital gains and not the usual rental income and does not plan to realise a capital gain in the next few periods which may result in the relatively low projected EPS?
My TP of 65cps (which may be slightly high) is mainly as a result of the significant discount to NAV that we are at.

[PickApprentice]

Can MRI go higher at this stage? I bought at 7 cents per share. What impact will CW influence have? 

 

Afdawn bites me as I bought recently at 12 cents per share.

 

Can FDP go near it's issue price? I hear there is some corporate action in the pipeline. I am in at 60 cps....There are good value in some of the properties, will that sustain the share price?        

 

I have a slight issue with FDP. The IPO price was R1.00. The company is expected to earn 1.68c per share going forward after 2016. That gives you a PE of 59 to start off with. The company will have a once-off revaluation gain of about 12c in 2015 with a net asset value of 26c after the fair valuation. I think 60c is simply overvalued. This is assuming that the property market is going to continue to growth. I think there is still a long way to go before the company reaches R1 again. 

 

Is there something that I have missed? I have obtained all my information from the pre-listing statement. 

[Griffin]

The suspense is killing me. Shares are being so tightly held and investors don't believe in the companies ability to make profits until they see an audited report. That's my feeling on why the share price isn't moving.

 

We'll see tomorrow how MRI made a profit. Hope they release the SENS early not when the market is closed

[Trader1]

I Put a bid in at 7c . Don't understand why the price isn't responding, perhaps waiting for the full results. Still a definite good deal under 10cps

The suspense is killing me. Shares are being so tightly held and investors don't believe in the companies ability to make profits until they see an audited report. That's my feeling on why the share price isn't moving.

[yusufm]

Agreed. And with the SENs announcement dated 08/09/2014 where CVN buys MRI at 10c per share despite the price being 7c at the time.
It states "[/size]4.1 Introduction
 
     Shareholders are advised that on 5 September 2014 2014 ConvergeNet
     concluded the terms of the purchase of an additional 30.32% of MRI
     (the 'MRI Acquisition') for R25 272 664 (the 'MRI Purchase
     Consideration') from AfrAsia Special Opportunities Fund ('ASOF')
     (29.78% for R24 822 664) and Titan Share Dealers Proprietary Limited
     (0.54% for R450 000), subject to the fulfilment of the conditions
     precedent set out in paragraph 4.5 below."
So if CVN purchases 30.32% of MRI for 10cents, surely the base price going forward for MRI should at least 10c. Otherwise what would their rationale be for purchasing such a large stake of MRI at a premium?

I Put a bid in at 7c . Don't understand why the price isn't responding, perhaps waiting for the full results. Still a definite good deal under 10cps

[Trader1]

On MRI, i foresee a complete, a refreshed business strategy and focus with CW onboard. I understand they want to do the same with Exxaro, briqette their fines as well. I think if they can just expand this, it would work, as the input costs are low( waste material) which could provide for good margins.

Agreed. And with the SENs announcement dated 08/09/2014 where CVN buys MRI at 10c per share despite the price being 7c at the time.

It states "4.1 Introduction

 

     Shareholders are advised that on 5 September 2014 2014 ConvergeNet

     concluded the terms of the purchase of an additional 30.32% of MRI

     (the 'MRI Acquisition') for R25 272 664 (the 'MRI Purchase

     Consideration') from AfrAsia Special Opportunities Fund ('ASOF')

     (29.78% for R24 822 664) and Titan Share Dealers Proprietary Limited

     (0.54% for R450 000), subject to the fulfilment of the conditions

     precedent set out in paragraph 4.5 below."

So if CVN purchases 30.32% of MRI for 10cents, surely the base price going forward for MRI should at least 10c. Otherwise what would their rationale be for purchasing such a large stake of MRI at a premium?

[SB45]

Can MRI go higher at this stage? I bought at 7 cents per share. What impact will CW influence have? 
 
Afdawn bites me as I bought recently at 12 cents per share.
 
Can FDP go near it's issue price? I hear there is some corporate action in the pipeline. I am in at 60 cps....There are good value in some of the properties, will that sustain the share price?

On MRI, i foresee a complete, a refreshed business strategy and focus with CW onboard. I understand they want to do the same with Exxaro, briqette their fines as well. I think if they can just expand this, it would work, as the input costs are low( waste material) which could provide for good margins.

[ajax]

Can MRI go higher at this stage? I bought at 7 cents per share. What impact will CW influence have? 

 

Afdawn bites me as I bought recently at 12 cents per share.

 

Can FDP go near it's issue price? I hear there is some corporate action in the pipeline. I am in at 60 cps....There are good value in some of the properties, will that sustain the share price?        

[yusufm]

Bought FDP at 35c on the back of good results released yesterday
But did anyone else see the MRI trading statement?!

FDP looking awesome as well! TP 65cps.

All round good couple days with MRI and FDP shooting out the lights

[yusufm]

Those who need the cash and there are now willing buyers. And then there are those who were lucky enough to buy in at 5c in July So they may be cashing in for now. Share price up 42% now to 10c

Also remember the CVN deal is at 10cps so we may see some resistance at that price. Should we pass that level we could see a rapid rise

[Trader1]

I would like to know who is selling right now after such a long wait. 

Those who need the cash and there are now willing buyers. And then there are those who were lucky enough to buy in at 5c in July So they may be cashing in for now. Share price up 42% now to 10c