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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Conversion of GREG.W3 vs W6 and CLPL.W13 vs W14

Conversion of GREG.W3 vs W6 and CLPL.W13 vs W14

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KDDND

KDDND
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Hi All!

Lets me put this argument!

When we consider
1. GREG.W3 vs W6, and also
2. CLPL.W13 vs W14

These both couples have one year different in time on both cut of dates / expiry dates between W3-W6 & between W13 -W14.

So, probably ...
what will happen to GREG.W3 [in 9 months time] decide fate of W6.
Similarly what will happen of CLPL.W13 [in 15 months] probably decide the fate of W14.

if GREG & CLPL performance itself didn't rise share prices to these level .... i.e.
If the share prices of GREG.N & CLPL.N doesn't reach at least close to Rs. 36/= by Feb 2014 & Rs. 118/= by Aug 2015 [at the conversion], conversion may not be successful,
unless [then the possibilities are];

a. any individual or a company get in to agreement to buy; or
b. GREG & CLPL decide to change the rate of conversion ...... ???
c. GREG & CLPL decide to extend the date of conversion...???
e. GREG & CLPL decide to offer of some other benefits for the warrant holders......???

if these warrant fails what is the fate of any future - warrant of these companies..... ????

So who will be gambling...... either
1. traders-share holders.
2. the GERG & CLPL companies or
3. any other "BIG living things" who just manipulate the market

although my aim is not to promote/demote these W or N shares.... while explaining or analyzing the these scenarios..... it might be happening...!!!

Good to wait n see Smile but I expect or predict ......at least at the last minutes some body will get into action to make this conversion/situation successful ...at least up to some extend to avoid total failure ...... Smile

scratch
Does this mean opportunity to lose or win....??? scratch scratch scratch

Bond


Manager - Equity Analytics
Manager - Equity Analytics
Not a very smart fella ?

GREG W3 = 347 Million warrants at 36/= (1 warrant = 1 share)

GREG W6 = 347 Million warrants at 39/= (1 warrant = 1 share)

W3 will raise 12 B and W6 will raise 13B = 25B in capital in total.

It's obvious these warrants will be cancelled to prevent anyone from exercising and taking control of Greg by the new owners.

Cancellation of warrants is quite common Wink


As an aside the initial plan of Greg was to raise 50B by 2015 by issuing warrants and keeping the share above the exercise price. The warrants were supposed to be distributed to a wide shareholder base where control will be limited - divide and rule!

With a reduced stake Lionhart believed they could control the firm whilst transferring warrant conversion funds to offshore companies.

The offshore companies are not owned by Greg but by Lionhart. Hence even in a shareholder rebellion, the new controllers of Greg would have to fight to recover offshore money. Not easy Razz

Story today is different.

KDDND

KDDND
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Thx Bond! u open my eye bit further "Cancellation of warrants is quite common Wink" Smile
I didn't have that thought or experience, yeah if they cancel ...... hmm .... Rolling Eyes
Thx again!

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
So when should the management notify about cancellations?

6months, 1 month or 1 weeks before warrant expiry ? This will ofcourse leave minority shareholder hanging with absolute losses.




@Bond wrote:
Cancellation of warrants is quite common Wink

Gainer

Gainer
Associate Director - Equity Analytics
Associate Director - Equity Analytics
KDDND; Your Reasonable & Excellent Demand it's possible

GREG & CLPL can change the rate of conversion below share price,

GREG & CLPL can extend the date of conversion,

GREG & CLPL decide to offer of some other benefits for the warrant holders.

Jana

Jana
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
CLPL

25,000,000 Warrants: at an exercise price of Rs.118.- per share in year 2014.
25,000,000 Warrants: at an exercise price of Rs.142.- per share in year 2015.

GREG already collect CLPL.N=== 31,284,589=== 91.39%
GREG already collect w13===18,411,702===73.65%
GREG already collect w14===18,411,702===73.65%

last two years they are trying to collect more shares from the market (check last two years clpl report) ..so its mean end of the day the price go up more than 118/= ( I assume it can be pass 118/=) for CLPL then W13 getting value to convert. so people ready to pay that without loosing..

after that CLPL N can be drop the reason 26% of w13 hold by public so it will be converted as N shares so they will try to sell ...then selling pressure will be high...

any how GREG willing to buy those as-well in the future by W13 conversion money ( they will have lot of cash)

end of the day the same theory apply for w14 also

So CLPL.W13 and 14 mcuh better..

even though
mkt is in positive mood ..
BULL ready to act ...
at least we have enough time (15 month) to come out from the warrant 13 exercise period

So we can trade with these very safely



and I hope GREG also good time to buy bcos of mkt situation...

at least good time to play with these (GREG.W6 w3 ) at this price level..

sisira.wijeweera


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
I am agree with you ...Jana if market up trnt I am only buy curent price level only greg w

Gainer

Gainer
Associate Director - Equity Analytics
Associate Director - Equity Analytics
GREG & CLPL reconsider to reduce the Warrant conversion price lower than share price. if they will reduce the warrant conversion price good for all of Warrants CLPL.Warrants13 and 14 , GREG.Warrants 3and,6

Bond


Manager - Equity Analytics
Manager - Equity Analytics
I don't follow Greg but lets look at the present moment. Greg is now controlled by Taprobane.

Lionhart is a minority shareholder in Greg.N but the major controller of Greg warrants.

Lionhart acquired 95%+ of Greg for 75M.

Taprobane & co acquired 30% of Greg for 1.6B offset by a sale of BIL shares.

Lionhart has the capacity to exercise the warrants and take back control of Greg. Actually it can dilute TAP's holding and everyone else by half in the next exercise date.

The value of Greg is the cash that should be received from it's offshore investment.

So TAP can lose. If warrants are cancelled then TAP does not have the uncertainty.

shan


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
GREG and CLPL Warrants possible to reduce the exercise price of the warrants.

bullrun

bullrun
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
They should do something. Otherwise in future warrants will not be a good instrument.

sisira.wijeweera


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
I think people not interest buy this price level may be if this share up 50% will buy next week

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