A separate filing today showed that investor Koon Yew Yin has emerged as a substantial shareholder of Can-One, acquiring 15.96 million shares or an 8.305% stake in the group on April 1.
Can-One shares closed unchanged at RM4.04 today, giving it a market capitalisation of RM776.29 million. From the edge.
Koon Yew Yin was already a substantial shareholder before 10 Mar 16 based on the FY16 annual report. Unfortunately for us, he probably accumulated the shares at between RM3.40 to RM3.80 during the first week of Mar 16 when the market tanked.
if KWAP willing to pay 30% of F&B for RM280,000,000. therefore F&B worth about RM935,333,333. which mean Canone worth at least RM4.87 + RM2.39 (kj) = RM7.26
give 20% MoS, Canone at least worth RM5.81 roughly about 42% northing potential
Procedural wise, Can-One cannot announce until they received KYY's notification that he has acquired >5% of its shares. Technically all shareholders' information are kept by the CDS and not Can-One. So it does not have the obligation or information to make declaration on behalf of anyone who has acquired >5% shares unless it received notice from the shareholder himself.
It is highly possible for canone, jointly with kwap to takeover the remaining shares of kj that it doesn't currently own. Even if it has to pay 4.00 per kj share. Do the math.
Article Entitled: "KWAP in tie-up with Can-One" CAN-ONE BERHAD ("CAN-ONE" OR "THE COMPANY") CLARIFICATIONS ON THE ARTICLE ENTITLED "KWAP IN TIE-UP WITH CAN-ONE" PUBLISHED IN THE STAR ON 18 APRIL 2016
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
stockmanmy
6,977 posts
Posted by stockmanmy > 2016-04-18 17:31 | Report Abuse
At the company level, there have $240 million loans..
This deal will wipe off all borrowings at company level.
Wait for the company to work their magic again.
Market price easily 50% discount on sum of parts valuations.