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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » An opportunity in the horizon and something to be worry in the same time – TOUCHWOD

An opportunity in the horizon and something to be worry in the same time – TOUCHWOD

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hariesha


Vice President - Equity Analytics
Vice President - Equity Analytics
I have been watching TWOD announcements during last one year period. There recent announcements are making me bit worried.

First they appointed a highly respected figure Mr. Wijethileke as chairman in January.

But on June onwards all are leaving. Mr. Wijethilake resigned as chairman and from the board. Then Mr. Wijeratne left. Both only served less than six months. Then in august two appointments were made without any introductions. Then in September deputy chairman a long standing member of the management team, Mr. Koralage resigned. Two days back CEO , Mr. Channa Abeygunawardane resigned.
Now it’s run by husband and wife with about 20-27% stake.

WHAT’S GOING ON AT TWOD? IS IT IN TROUBLE? IF SO WHY AUTHORITIES ARE SILENT?

Why I said “An opportunity in the horizon”. These type of loosely held companies are always targets for takeovers. But if the company is not in good shape, definitely the taking over party will look for a discounted price.

sureshot

sureshot
Vice President - Equity Analytics
Vice President - Equity Analytics
Now its at a discounted price ....
and currently buy two get one free offer is also there.
NAPS is above 40.00
what else do u want Question

many resigned from SEC too.......
if they cant do the job they have to vacate their chair ....
same here with TWOD

" buy two get one free " santa
better than Christmas sale

wait for the take over.....

hunter

hunter
Moderator
Moderator
I would prefer their plantation to grow faster, rather than number of shares by bonuses.

Can someone clarify the difference between 1:2 bonus shares and 2 into 3 share split?
For me, it's the same.

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@hunter wrote:I would prefer their plantation to grow faster, rather than number of shares by bonuses.

Can someone clarify the difference between 1:2 bonus shares and 2 into 3 share split?
For me, it's the same.

Bonus shares bring additonal share capital to the company where as any split just divide the current number of shares in to a new number..

hunter

hunter
Moderator
Moderator
Thanks small.
Now I see, bonus share is like moving money form one pocket to the other in the same trouser.

I found a nice articles explaining this further (to non accountants like me)

http://www.sharemarketschool.com/how-is-a-bonus-issue-different-from-a-stock-split/


According to the article, bonus shares will increase investor confidence (@ zero cost).
But in TWOD, market price behavior indicates the other way around.

(Perhaps our guys didn't know they are supposed to increase their confidence when a bonus share is announced lol! )

snandasiri

snandasiri
Manager - Equity Analytics
Manager - Equity Analytics
Not only TWOD most of other shares went down.It is due to market direction.Not due to the announcement.

hariesha


Vice President - Equity Analytics
Vice President - Equity Analytics
This is the current board of directors of the company.

Mr. Maloney R. - Founder of the company
Mrs. Maloney J.G.S. - Current CEO
Mr. Kulatunga L. L. (Independent Director)
Mr. Simmons M. - Appointed recently : director profile was not announced
Mr. Scorer M. - Appointed recently : : director profile was not announced

All the directors we were known have resigned, except for the husband and wife Mr. and Mrs. Maloney.

Mr. Rienzie Wijethilake - resigned 09-07-2012
Mr. D.M. de Silva Wijerathna - resigned 14-07-2012
Mr. S.P.A. Koralage - Deputy Chairman - resigned 04-09-2012
Mr. C. Abeygunawardene - Former CEO - resigned 09-10-2012

I think company should clarify what's happening inside for the benefit of the majority shareholders, as in the case of TWOD management is having less than 27% of the company.

On the part of the CSE they should get a clarification from the company, as company has not publised the profiles of the two directors (seem to be foreigners) who were appointed recently.

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