Major shareholder recently exercised 9 million warrants and therefore RM9mil into the company's treasury. This is a good signal. He could have sold the warrants and get higher value since the warrants are traded at a high premium in the market but instead choose to convert.
Entitlement News (20130820EA00018) Company Name LBS BINA GROUP BHD Stock Code / Short Name 5789 / LBS Date & Time Announce 20/08/2013 12:37:02 PM Subject Special Dividend 8 Sen T.E.
Content Stock Par Value : 0.00 Description : Special Dividend
Date Entitlement Announcement Date : No Date Stated Ent. in % : 0.000% EX-Date : 01/10/2013 Ent. in Sen : 8.000 To SCANS Date : No Date Stated Ent. Numerator : 0.000 Entitlement Date : 03/10/2013 Ent. Denumerator : 0.000 Entitlement Time : 5:00:00 PM Payment Date : 18/10/2013 Ent. Type : SD Ent. Indicator : Cum
Ent. Remarks Special Dividend of 8 sen per ordinary share exempt from Income Tax
Published: Tuesday August 20, 2013 MYT 1:53:00 PM Updated: Tuesday August 20, 2013 MYT 2:11:49 PM LBS Bina declares special dividend of 8 sen on China asset sale
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KUALA LUMPUR: LBS Bina Group Bhd has declared a special dividend of eight sen per share after it had disposed its HKD1.65bil (RM700mil) China assets on Aug 12.
In a Bursa announcement on Tuesday, the company said it had received HKD500mil (RM212.65mil) from the disposal.
“The payment of this special dividend is from the proceeds of the disposal which was allocated as general working capital as per the Circular to Shareholders dated Jul 4,” it said
LBS added the dividend is expected to be paid on Oct 18,2013.
LBS shareholders had on July 19 approved the disposal of its entire interest in Lakewood Golf Club and Zhuhai Development Land to Zhuhai Holdings Investment Group Limited.
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....
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Posted by bigbuyer > 2013-08-20 09:49 | Report Abuse
Clearing t+3