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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » 24-Oct-2012 Coco Lanka - Rights Issue & Sub Division of Shares

24-Oct-2012 Coco Lanka - Rights Issue & Sub Division of Shares

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124-Oct-2012 Coco Lanka - Rights Issue & Sub Division of Shares Empty COCO right issue & SD Fri Oct 12, 2012 5:21 pm

opfdo

opfdo
Vice President - Equity Analytics
Vice President - Equity Analytics
http://www.cse.lk/cmt/upload_cse_announcements/4201350040741_.pdf

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
12-Oct-2012 COCO LANKA - RIGHTS ISSUE

COCO LANKA PLC
Company ID:- COCO
Proportion:- Five (05) new ordinary shares for every four (04) existing ordinary voting shares & Five (05) new ordinary non-voting shares for every four (04) existing non-voting shares held
Issue Price:- Voting - Rs. 35.00
Non-Voting - Rs. 28.00
Dates to be notified

12-Oct-2012 COCO LANKA - SUB DIVISION OF SHARES (SUBSEQUENT TO THE RIGHTS ISSUE)


COCO LANKA PLC
Company ID: - COCO
Proportion: - One (01) existing share post Rights Issue will be Sub-Divided to Two (02) Shares
The Sub-Division of shares is subject to shareholder approval at a General Meeting.

ccsentha


Vice President - Equity Analytics
Vice President - Equity Analytics
What does this mean for coc in terms of long term future? what about their rebranding and new subsidiary RCL? they ar gonna focus only on B&W....

hariesha


Vice President - Equity Analytics
Vice President - Equity Analytics
COCO has grown to an unbelievable level during last three years. I think management is capable of doubling the value of COCO withing next two years. They are expanding so rapidly.

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
I though RHL held 61+% of Shaw Wallace. Wonder what happened to other 2%? Coco purchase 59+%

trader911


Senior Equity Analytic
Senior Equity Analytic
correct me if i m wrong with the split wat it means is invester can avg its cost without subscribing for rights because he can double his share thru subdivision.so its a winwin situation...



@Redbulls wrote:12-Oct-2012 COCO LANKA - RIGHTS ISSUE

COCO LANKA PLC
Company ID:- COCO
Proportion:- Five (05) new ordinary shares for every four (04) existing ordinary voting shares & Five (05) new ordinary non-voting shares for every four (04) existing non-voting shares held
Issue Price:- Voting - Rs. 35.00
Non-Voting - Rs. 28.00
Dates to be notified

12-Oct-2012 COCO LANKA - SUB DIVISION OF SHARES (SUBSEQUENT TO THE RIGHTS ISSUE)


COCO LANKA PLC
Company ID: - COCO
Proportion: - One (01) existing share post Rights Issue will be Sub-Divided to Two (02) Shares
The Sub-Division of shares is subject to shareholder approval at a General Meeting.

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
First you subscribed to rights. After subscription finished the split will happen.

@trader911 wrote:correct me if i m wrong with the split wat it means is invester can avg its cost without subscribing for rights because he can double his share thru subdivision.so its a winwin situation...



@Redbulls wrote:12-Oct-2012 COCO LANKA - RIGHTS ISSUE

COCO LANKA PLC
Company ID:- COCO
Proportion:- Five (05) new ordinary shares for every four (04) existing ordinary voting shares & Five (05) new ordinary non-voting shares for every four (04) existing non-voting shares held
Issue Price:- Voting - Rs. 35.00
Non-Voting - Rs. 28.00
Dates to be notified

12-Oct-2012 COCO LANKA - SUB DIVISION OF SHARES (SUBSEQUENT TO THE RIGHTS ISSUE)


COCO LANKA PLC
Company ID: - COCO
Proportion: - One (01) existing share post Rights Issue will be Sub-Divided to Two (02) Shares
The Sub-Division of shares is subject to shareholder approval at a General Meeting.

isotck


Stock Trader
[quote="trader911"]correct me if i m wrong with the split wat it means is invester can avg its cost without subscribing for rights because he can double his share thru subdivision.so its a winwin situation...


Your existing shareholding would still be doubled even if you do not subscribe to rights. Avg cost will therefore come down but so will the market price (first after XR then after split).

Take time to think about whether or not you are going to subscribe to the rights issue, as rights are priced low, market price may go below your cost, post split, if you do not subscribe to rights.

The Alchemist


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@slstock wrote:I though RHL held 61+% of Shaw Wallace. Wonder what happened to other 2%? Coco purchase 59+%

http://www.cse.lk/cmt/uploadAnnounceFiles/9471300272838_821.pdf

On 16th March 2011, RHL acquired 61.78 % of Shaw Wallace Marketing Ltd for Rs 368 Mill. Also Simultaneously, Shaw Wallace Marketing Ltd acquired Pioneer Warehousing Limited (which owns wharehousing space) for further Rs 600 Million for which RHL advanced Funds. Then, I think, RHL has combined / packaged these two companies and formed company called Shaw Wallace Ceylon Limited (SWCL). RHL is now selling 59.76 % of SWCL for Rs 407 Million to a newly formed subsidiary of COCO called Renuka Consumer Foods Limited (RCL). In future, COCO will have two subsidiaries viz RAL and RCL
COCO will henceforth be called Renuka Shaw Wallace Plc.

sriranga

sriranga
Co-Admin
RIGHTS ISSUE - COCO LANKA PLC

Company ID: - COCO (Voting and Non-voting)
Date of Initial Announcement: - 12.Oct.2012
Proportion: - Five (05) new ordinary shares for every four (04) existing ordinary voting shares
Five (05) new ordinary non-voting shares for every four (04) existing non-voting shares held
Issue Price: - Voting - Rs. 35.00 / Non-Voting - Rs. 28.00
Qty Offered: - Voting - 27,000,000 / Non-Voting - 2,250,000
General Meeting / Provisional Allotment: - 16.Nov.2012
Date EX: - 19.Nov.2012
Dispatch of Provisional Letter of Allotment: - 22.Nov.2012
Rights Trading Commences on: - 29.Nov.2012
Renunciation: - 06.Dec.2012
Last Date of Acceptance & Payment: - 07.Dec.2012
Share Transfer Book Open

SUB DIVISION OF SHARES - COCO LANKA PLC

Company ID: - COCO (Voting and Non-voting)
Date of EGM: - 16.Nov.2012
Sub Division based on the shareholding as at end of trading on: - 03.Jan.2013
Period of Dealing Suspension (Both days inclusive): - 04.Jan.2013 to 08.Jan.2013
Date of commencement of trading: - 09. Jan.2013

http://sharemarket-srilanka.blogspot.co.uk/

Antonym

Antonym
Vice President - Equity Analytics
Vice President - Equity Analytics
What is COCO.R0001 (Rs 0.90) and COCO.R0000 (Rs 0.40)?

Can anyone confirm which one is for the Voting share, and which is for the Non-voting share?

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Since the proportionate is same, R1 seems to be the N

sanju351

sanju351
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@smallville wrote:Since the proportionate is same, R1 seems to be the N

I think it is the other way COCO R IS Voting Rights & COCO R 1 is non voting rights

K.Haputantri

K.Haputantri
Co-Admin
@sanju351 wrote:
@smallville wrote:Since the proportionate is same, R1 seems to be the N

I think it is the other way COCO R IS Voting Rights & COCO R 1 is non voting rights
This is what my advisor also told me. Any way, its strange when N rights is trading at a lesser price (more than 50% less). ?Any one who can explain this unusual trend.

sanju351

sanju351
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@K.Haputantri wrote:
@sanju351 wrote:
@smallville wrote:Since the proportionate is same, R1 seems to be the N

I think it is the other way COCO R IS Voting Rights & COCO R 1 is non voting rights
This is what my advisor also told me. Any way, its strange when N rights is trading at a lesser price (more than 50% less). ?Any one who can explain this unusual trend.

Thats because of the quantity COCO X is very less an COCO N amount is huge ..

But Parent may buy more COCO R .in coimng days ..as MASK went to LKR 2 Level these R may Rise in coming days ..

The Trend is same as MAL N & MAL X

K.Haputantri

K.Haputantri
Co-Admin
Thanks Sanju for your info.

Antonym

Antonym
Vice President - Equity Analytics
Vice President - Equity Analytics
It's not really unusual.

In addition to what you have to pay for the Rights,
You have to pay Rs 35 to get the Voting share.
You have to pay Rs 28 to get the Non-voting share.

So, based only on the Rights closing prices, the market is valuing
COCO.N at (Rs 35 + Rs 0.30 =) Rs 35.30
COCO.X at (Rs 28 + Rs 1.00 =) Rs 29.00

K.Haputantri

K.Haputantri
Co-Admin
Its better to buy from market as todays closing price for is Rs:34.40. ?Why go after rights.

Antonym

Antonym
Vice President - Equity Analytics
Vice President - Equity Analytics
@K.Haputantri wrote:Its better to buy from market as todays closing price for is Rs:34.40. ?Why go after rights.
@Haputantri: Exactly; I noticed that too.
I expect that both COCO.R & COCO.R1 will be available at Rs 0.10 in the next few days.

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