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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » 04-Mar-2013 Capitalization of Reserves - Commercial Credit

04-Mar-2013 Capitalization of Reserves - Commercial Credit

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sriranga

sriranga
Co-Admin
http://www.cse.lk/cmt/upload_cse_announcements/5691359457359_.pdf

04-Mar-2013 Capitalization of Reserves - Commercial Credit Comer11004-Mar-2013 Capitalization of Reserves - Commercial Credit Comr210

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

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
COCR taking some mature steps. This is the courage business leaders should have. Looks my log term investment will work...........

304-Mar-2013 Capitalization of Reserves - Commercial Credit Empty COCR Capitalization of Reserves - Wed Jan 30, 2013 11:22 am

ranferdi

ranferdi
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
They have announced Capitalization of reserve, 1 share for 10.9037 shares, What will be the effect on company accounts on this???

http://::::THIS EMAIL DOESNT WORK.. PLEASE CONTACT ME ON FB ACCO

sriranga

sriranga
Co-Admin
http://www.cse.lk/cmt/upload_cse_announcements/8811359632523_.pdf

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

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
COMMERCIAL CREDIT & FINANCE PLC
Company ID: - COCR
Date of Initial Announcement: - 31.Jan.2013
Proportion: - One (01) new Ordinary Share for every 10.90371825 existing Ordinary Shares
Date XC: - 28.Mar.2013
General Meeting/Allotment: - 27.Mar.2013
Qty Offered: - 20,000,000
Consideration: - Rs. 15.00 per share
Share Transfer Book Open

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Is this the stock dividend or bonus shares declared by COCR?
With effect from capitalization of reserves, proportionate drop in dividend rate is to be expected.Any comments.

Fresher


Moderator
Moderator
@worthiness wrote:Is this the stock dividend or bonus shares declared by COCR?
With effect from capitalization of reserves, proportionate drop in dividend rate is to be expected.Any comments.

Dividend per share might decrease but the shareholder will not have proportionately more shares as well

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
But this is overall good option frm company side. They retain the money within the company by a capitalization. Shareholders get free shares, if u have 1000 now, ur get more than 100 new shares.

But the price may drop with the dilution of the shares in numbers.

knockknobbler


Manager - Equity Analytics
Manager - Equity Analytics
It may be a good option from the Company's side. They are keeping the money even without even 0.10/ 0.25 cent dividend ( as most of finance companies do !)

I can't think of any additional benefit to shareholders. Even no. of shares increase, share price will drop, as smallville suggests.
Surprised to read this a "mature '' , "courageous ' decision .

@Arena wrote:COCR taking some mature steps. This is the courage business leaders should have. Looks my log term investment will work...........

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
I am also wondering how smart it was to declared a capitalization when market was down and in bad sentiments.
They could have timed it differently.


After this news this shares hit its lowest ever. If the share is to drop more after cap, then it is not a good thing for holders.
Did holders need this at a time when their capital was going down?


@knockknobbler wrote:It may be a good option from the Company's side. They are keeping the money even without even 0.10/ 0.25 cent dividend ( as most of finance companies do !)

I can't think of any additional benefit to shareholders. Even no. of shares increase, share price will drop, as smallville suggests.
Surprised to read this a "mature '' , "courageous ' decision .

@Arena wrote:COCR taking some mature steps. This is the courage business leaders should have. Looks my log term investment will work...........

No


Senior Equity Analytic
Senior Equity Analytic
The smart analist and predictors who thought this will be the next blue chip
are vanished now with loses. COCR becoming a mess.Predictions are wrong.

Jiggysaurus

Jiggysaurus
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@No wrote:The smart analist and predictors who thought this will be the next blue chip
are vanished now with loses. COCR becoming a mess.Predictions are wrong.

So who are these smart analists and predictors who gave you a dead rope?

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
I wonder how they will pay the maturity of that debenture.

seek


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@rainmaker wrote:I wonder how they will pay the maturity of that debenture.

Yes, that is the main reason for disposing my lot. This 21% money will be a real expensive for them to compete in a low interest rate market in the future with other companies.

Rapaport

Rapaport
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
The rate offered on the debentures looks like its a steep price. maybe around 18% would still have had buyers

The only way they can repay this is by micro credit which has high interest rates. maybe someone can clarify the rates on micro credit. However micro credit can have high rates of default as well

Maybe most of the debenture was bought by some insider and the company can easily report loss as high finance cost and siphon money out as high interest on debentures. Hmmmmmmmmmm........

Only time will tell where this company is heading. The management need to clarify their plans.

Cheers!

Fresher


Moderator
Moderator
@Rapaport wrote:The rate offered on the debentures looks like its a steep price. maybe around 18% would still have had buyers

The only way they can repay this is by micro credit which has high interest rates. maybe someone can clarify the rates on micro credit. However micro credit can have high rates of default as well

Maybe most of the debenture was bought by some insider and the company can easily report loss as high finance cost and siphon money out as high interest on debentures. Hmmmmmmmmmm........

Only time will tell where this company is heading. The management need to clarify their plans.

Cheers!

ALLI too issued debentures at this rate (20%) They had to increase it after initial rates were not attractive after the rates started to go up.

COCR had to go at this rate especially due to the risk attached

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