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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » PC House Right Issue

PC House Right Issue

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1PC House Right Issue Empty PC House Right Issue Thu Mar 14, 2013 4:01 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
http://www.cse.lk/cmt/upload_cse_announcements/5341363256428_.pdf

2PC House Right Issue Empty Re: PC House Right Issue Thu Mar 14, 2013 4:05 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
Ratio 1 share for every 2 shares held

Issue Price 3/= per share

No of Shares to be issued 114,466,667

To fund the working capital

3PC House Right Issue Empty Re: PC House Right Issue Thu Mar 14, 2013 4:20 pm

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
This would go to stated capital. Last time we discussed this, the site got more hits!

4PC House Right Issue Empty Re: PC House Right Issue Thu Mar 14, 2013 4:29 pm

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
This is shit. Rishan messing up every thing.

5PC House Right Issue Empty Re: PC House Right Issue Thu Mar 14, 2013 4:40 pm

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Fantastic. IPO at RS 11 , Share at Rs 3.9 . Now they want more money from shareholders bringing the share price down further. In this environment we shouldn;t be too surised if PCH hits Rs 3.




@Gaja wrote:Ratio 1 share for every 2 shares held

Issue Price 3/= per share

No of Shares to be issued 114,466,667

To fund the working capital

6PC House Right Issue Empty Re: PC House Right Issue Thu Mar 14, 2013 4:45 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@slstock wrote:Fantastic. IPO at RS 11 , Share at Rs 3.9 . Now they want more money from shareholders bringing the share price down further. In this environment we shouldn;t be too surised if PCH hits Rs 3.




@Gaja wrote:Ratio 1 share for every 2 shares held

Issue Price 3/= per share

No of Shares to be issued 114,466,667

To fund the working capital

If the Working capital requirement is the major issue, i think they should have a serious look on the Inventories and Trade Receivables.

Am looking forward the 2012/2013 results to see the Impairment implication

7PC House Right Issue Empty Re: PC House Right Issue Thu Mar 14, 2013 4:56 pm

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Yes they have bigger issues at hand. Taking more money is putting a plaster to the issues at hand.

What a time to go for a rights. Could not they have gone for right issue when share price was at Rs 6 . Atleast they could have got a better right price.

Reg share price : Unless Rishan tries to push this to make rights attractive ( even if he does it can be short lived. How long can he push it up? ) the share price fate looks downhill.

As we do not give buy, sell, ; hold here I will try to put it this way. " If I am a shareholder I will be on my toes to protect whatever capital I have" . IF this goes up ...... ;-)


I remember a famous guy from another forum saying PCH can hit Rs 100 in a few years.


@Gaja wrote:
@slstock wrote:Fantastic. IPO at RS 11 , Share at Rs 3.9 . Now they want more money from shareholders bringing the share price down further. In this environment we shouldn;t be too surised if PCH hits Rs 3.




@Gaja wrote:Ratio 1 share for every 2 shares held

Issue Price 3/= per share

No of Shares to be issued 114,466,667

To fund the working capital

If the Working capital requirement is the major issue, i think they should have a serious look on the Inventories and Trade Receivables.

Am looking forward the 2012/2013 results to see the Impairment implication

8PC House Right Issue Empty Re: PC House Right Issue Thu Mar 14, 2013 6:06 pm

Jana1


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
As this rights announcement comes on 14th, How could PC house directors can shed their shares on 7th, just 7 days before?? Looks so unethical....

Does the standard provision of 2 weeks no-transaction period for directors prior to announcement lapsed?

9PC House Right Issue Empty Re: PC House Right Issue Thu Mar 14, 2013 6:11 pm

sriranga

sriranga
Co-Admin
Read this link, how investors are cheated by these type of companies and promoters.
http://forum.srilankaequity.com/t26503-the-stock-market-and-its-dark-secret?highlight=stock

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

10PC House Right Issue Empty Re: PC House Right Issue Thu Mar 14, 2013 6:16 pm

Jiggysaurus

Jiggysaurus
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Jana1 wrote:As this rights announcement comes on 14th, How could PC house directors can shed their shares on 7th, just 7 days before?? Looks so unethical....

Does the standard provision of 2 weeks no-transaction period for directors prior to announcement lapsed?

Someone should highlight that to the SEC, but as usual would be a waste of time and a waste of a mail.

11PC House Right Issue Empty Re: PC House Right Issue Thu Mar 14, 2013 6:28 pm

Whitebull


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Unfortunately CSE is mainly a Junk Yard for Craps to postphone their bankruptcy.....

12PC House Right Issue Empty Re: PC House Right Issue Thu Mar 14, 2013 6:50 pm

Jake Sully

Jake Sully
Manager - Equity Analytics
Manager - Equity Analytics
Thank god i have only few shares and i will not subscribe for the rights issue. And thanks for everyone in the forum who warned not to burn the fingers by buying PCH. Either the bunch of directors doesnt know when to go for a rights issue or they are simply trying to suck some more money before the company go for a six.



Last edited by Jake Sully on Thu Mar 14, 2013 7:00 pm; edited 1 time in total (Reason for editing : cc)

13PC House Right Issue Empty Re: PC House Right Issue Thu Mar 14, 2013 6:51 pm

Dileepa


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Whitebull wrote:Unfortunately CSE is mainly a Junk Yard for Craps to postphone their bankruptcy.....
Exactly! I have to say CSE lacks quality companies and honest business men.
Not to promote anything, but to give an example of what I feel a safe to investment is 
PC House Right Issue Nest10



Last edited by Dileepa on Thu Mar 14, 2013 6:54 pm; edited 1 time in total (Reason for editing : grammer)

14PC House Right Issue Empty Re: PC House Right Issue Thu Mar 14, 2013 7:02 pm

Jake Sully

Jake Sully
Manager - Equity Analytics
Manager - Equity Analytics
Purpose of right - simply w/c funding???
They should at least tell exactly what they plan to do with the money. (at least they can fool someone) Very Happy

15PC House Right Issue Empty Re: PC House Right Issue Thu Mar 14, 2013 7:22 pm

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
@Dileepa wrote:
Exactly! I have to say CSE lacks quality companies and honest business men.
Not to promote anything, but to give an example of what I feel a safe to investment is 
PC House Right Issue Nest10
Yes NEST is a good one.
There are some more counters to be considered.

16PC House Right Issue Empty Re: PC House Right Issue Thu Mar 14, 2013 7:29 pm

CSE.SAS

CSE.SAS
Global Moderator
@Redbulls wrote:
@Dileepa wrote:
Exactly! I have to say CSE lacks quality companies and honest business men.
Not to promote anything, but to give an example of what I feel a safe to investment is 
PC House Right Issue Nest10
Yes NEST is a good one.
There are some more counters to be considered.



It is a highly efficient company with minimum capital, well run with little retained profits used for reinvestment!

They had revenues of approx Rs29B in 2012 on sales of household brands such as Nestomalt, Maggi etc. and profits before tax of Rs3.5B and PAT of Rs3B.

In effect it pays out its whole net profit as a dividend and 91% of the shares are owned by Nestle SA the parent, with 19 other shareholders owning 4%.

Whilst the Company has a NBV of about Rs5B in fixed assets, its total share capital and reserves is only Rs3.8B which includes this year’s profits!

17PC House Right Issue Empty Re: PC House Right Issue Thu Mar 14, 2013 8:06 pm

The Alchemist


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@CSE.SAS wrote:
@Redbulls wrote:
@Dileepa wrote:
Exactly! I have to say CSE lacks quality companies and honest business men.
Not to promote anything, but to give an example of what I feel a safe to investment is 
PC House Right Issue Nest10
Yes NEST is a good one.
There are some more counters to be considered.



It is a highly efficient company with minimum capital, well run with little retained profits used for reinvestment!

They had revenues of approx Rs29B in 2012 on sales of household brands such as Nestomalt, Maggi etc. and profits before tax of Rs3.5B and PAT of Rs3B.

In effect it pays out its whole net profit as a dividend and 91% of the shares are owned by Nestle SA the parent, with 19 other shareholders owning 4%.

Whilst the Company has a NBV of about Rs5B in fixed assets, its total share capital and reserves is only Rs3.8B which includes this year’s profits!


As Warren Buffet once said, Great Companies do not necessarily make great stocks. If you look at NEST, its trading at over 30 times earnings, over 20 times Book Value and at a 3 % Dividend Yield. But no doubt - Great Company.

But then again, we should not be talking about great companies on a PC House thread !

18PC House Right Issue Empty Re: PC House Right Issue Thu Mar 14, 2013 8:26 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Why they (PCH) have decided to face this kind of embarrassment by going for a rights issue to collect 343 million when they have,

A) 1,230 million in Inventories and
B) 1,040 million to receive from outside parties.

C) They have to pay just 160 million to outsiders.

D) Furthermore, they have 350 million in retained earnings !
( Rainmaker's favorite !)



A) and B) = mayday mayday ... --- ... ... --- ...
C) = No friends no rescue
D) = summa
I really feel sorry for everybody including young husband and wife.

19PC House Right Issue Empty Re: PC House Right Issue Thu Mar 14, 2013 8:27 pm

Fresher


Moderator
Moderator
Will this rights issue really solve the problem? I guess not.

And as Whitebull pointed out, this is just a small way of postponing their bankruptcy

20PC House Right Issue Empty Re: PC House Right Issue Thu Mar 14, 2013 8:50 pm

mark

mark
Expert
Expert
harine putha,now sell sell sell
get out..

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