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Ausgroup - the train is moving soon Post Reply Rate topic
Guojing Member	02-Apr-2018 12:01        Guojing About Contact  Quote this Post!
x 0   x 0  Alert Admin	Bought at 0.53 ..cry
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mrwonderful Veteran	02-Apr-2018 11:45        mrwonderful About Contact  Quote this Post!
x 0   x 0  Alert Admin	Anybody knows the average price now after all the dilution?
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josephyeo Elite	02-Apr-2018 11:25        josephyeo About Contact  Quote this Post! Style: Fundamental
x 0   x 0  Alert Admin	Yes Ezion is supporting ... Ezion Holdings Limited giving an undertaking, in writing, to vote in favour of the Rights Issue (as defined in paragraph 8 below) and the Proposed Subscription, within thirty (30) days from the date of the Subscription Agreements Above is a quote taken from the company' s announcement.
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TraderBen Supreme	02-Apr-2018 11:16        TraderBen About Contact  Quote this Post!
x 0   x 0  Alert Admin	ezion will subscribe also? they have their own set of probs
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josephyeo Elite	02-Apr-2018 11:15        josephyeo About Contact  Quote this Post! Style: Fundamental
x 0   x 0  Alert Admin	Assuming that the subscription shares and rights shares are all taken up, the total number of shares would be 3,307,207,000 shares. Assuming that the 2nd half profit to be the same as the 1st half, the profit for the year would be S$14,525,000. Earning per share would then be : 0.44 cts per share (profit divided by number of shares) This would gives the company a p/e (price earning ratio) of : at 3.5 cts the p/e would be ... 3.5/0.44 = 7.95 at 4.0 cts the p/ e would be ... 4.0/0.44 = 9.09 at 4.5 cts the p/e would be ... 4.5/0.44 = 10.2 As seen from above, even after the dilution, the company  is still under valuedif company is able to maintain or improve on its profits. This is probably the reason why the major shareholders are taking up the subscription shares. Just sharing my thoughts.
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investshare Supreme	02-Apr-2018 10:03        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	I see. Thanks. josephyeo      ( Date: 01-Apr-2018 21:25) Posted: I am not assuming that earnings will double. I am assuming 2nd half profit  to be the same as 1st half which is A$7,191 mil. Therefore full year would be A$7191x2 = A$14,384 mil. Ausgroup financial year ends in June. investshare      ( Date: 01-Apr-2018 18:17) Posted: You assume with the dilution, the earning will double
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josephyeo Elite	02-Apr-2018 00:33        josephyeo About Contact  Quote this Post! Style: Fundamental
x 0   x 0  Alert Admin	As current price is 4.7 cts and subscription price is 3.5 cts, i expect share to be traded down in the short term. However i am quite optimistic about the company in the longer terms. Reasons: 1. Melvin Poh and Bernard Toh are substantial shareholders of the company. Melvin Poh is also an independant non executive of the company. Their participations in the subscription imply their confidence in the company. The subscription is further supported by Asdew Acquisition Pte Ltd. 2. The company is far from being over valued with a forward p/e of around 10 X or lower on current price of 4.7 cts and including the dilution of the new shares, and assuming that the subscription is successful. 3. with the right issues and subscription of new shares, the company' s financial problems are largely over. No more fear of unitholders converting debt to shares and dumping them in the market as had happened previously. Above are just my thoughts and i could be wrong. Pls dyodd.
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josephyeo Elite	01-Apr-2018 21:25        josephyeo About Contact  Quote this Post! Style: Fundamental
x 0   x 0  Alert Admin	I am not assuming that earnings will double. I am assuming 2nd half profit  to be the same as 1st half which is A$7,191 mil. Therefore full year would be A$7191x2 = A$14,384 mil. Ausgroup financial year ends in June. investshare      ( Date: 01-Apr-2018 18:17) Posted: You assume with the dilution, the earning will double? josephyeo      ( Date: 01-Apr-2018 17:14) Posted: Share with you some figures/thoughts on Ausgroup: 1. number of shares (x1000) current - 1504805 subscription shares - 1050000 (subscription at 3.5 cts per share) rights share - 752402 (1 for 2 at 3.5 cts per share) total number of shares - 3307207 2. earnings current year - 1st half - A$7191 in S$7,262 (based on exchange rate of 1:1.01) full year - A$14,382 in S$14,525 (based on exchange rate of 1:1.01) 3. earning per share current half year - 7262/1504805=0.0048 or 0.48 cts per diluted full year earning per share - 0.44 (profit divided by number of shares ... S$14,525 divided by 3307207 shares) 4. price current as on thursday close - 4.7 cts rights, subscription - 3.5 cts per share 5 price earning ratio (P/E) on current half year - 9.79  times (4.7 cts / 0.48 cts or prce divided by earning per share) full year n including rights n subscription shares and an assume price of 3.5 cts , the price earning ratio would be ... 7.9 times (PE = price divided by earning per sgare) In conclusion, it seems that if current earnings are maintained the p/e is only 7.9 times on a price of 3.5 cts. The p/e at 4.7 cts is around 10.6. Based on above, i will be going for the rights issue. Will share why i will take up the rights at a later date when time permits. Above are just my thoughts/views, pls do your own due diligence.
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investshare Supreme	01-Apr-2018 18:17        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	You assume with the dilution, the earning will double? josephyeo      ( Date: 01-Apr-2018 17:14) Posted: Share with you some figures/thoughts on Ausgroup: 1. number of shares (x1000) current - 1504805 subscription shares - 1050000 (subscription at 3.5 cts per share) rights share - 752402 (1 for 2 at 3.5 cts per share) total number of shares - 3307207 2. earnings current year - 1st half - A$7191 in S$7,262 (based on exchange rate of 1:1.01) full year - A$14,382 in S$14,525 (based on exchange rate of 1:1.01) 3. earning per share current half year - 7262/1504805=0.0048 or 0.48 cts per diluted full year earning per share - 0.44 (profit divided by number of shares ... S$14,525 divided by 3307207 shares) 4. price current as on thursday close - 4.7 cts rights, subscription - 3.5 cts per share 5 price earning ratio (P/E) on current half year - 9.79  times (4.7 cts / 0.48 cts or prce divided by earning per share) full year n including rights n subscription shares and an assume price of 3.5 cts , the price earning ratio would be ... 7.9 times (PE = price divided by earning per sgare) In conclusion, it seems that if current earnings are maintained the p/e is only 7.9 times on a price of 3.5 cts. The p/e at 4.7 cts is around 10.6. Based on above, i will be going for the rights issue. Will share why i will take up the rights at a later date when time permits. Above are just my thoughts/views, pls do your own due diligence.
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josephyeo Elite	01-Apr-2018 17:31        josephyeo About Contact  Quote this Post! Style: Fundamental
x 0   x 0  Alert Admin	Hi Alvin2042, i take up bcoz its good value so long as earnings can be sustained not bcoz i dont have a choice. Even after dilution its p/e is still below 10 times.   Alvin2042      ( Date: 01-Apr-2018 17:24) Posted: U have no choice, don't take up means dilution n worst off pn current price or if price remain above 4 cts. josephyeo      ( Date: 01-Apr-2018 17:14) Posted: Share with you some figures/thoughts on Ausgroup: 1. number of shares (x1000) current - 1504805 subscription shares - 1050000 (subscription at 3.5 cts per share) rights share - 752402 (1 for 2 at 3.5 cts per share) total number of shares - 3307207 2. earnings current year - 1st half - A$7191 in S$7,262 (based on exchange rate of 1:1.01) full year - A$14,382 in S$14,525 (based on exchange rate of 1:1.01) 3. earning per share current half year - 7262/1504805=0.0048 or 0.48 cts per diluted full year earning per share - 0.44 (profit divided by number of shares ... S$14,525 divided by 3307207 shares) 4. price current as on thursday close - 4.7 cts rights, subscription - 3.5 cts per share 5 price earning ratio (P/E) on current half year - 9.79  times (4.7 cts / 0.48 cts or prce divided by earning per share) full year n including rights n subscription shares and an assume price of 3.5 cts , the price earning ratio would be ... 7.9 times (PE = price divided by earning per sgare) In conclusion, it seems that if current earnings are maintained the p/e is only 7.9 times on a price of 3.5 cts. The p/e at 4.7 cts is around 10.6. Based on above, i will be going for the rights issue. Will share why i will take up the rights at a later date when time permits. Above are just my thoughts/views, pls do your own due diligence.
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Alvin2042 Master	01-Apr-2018 17:24        Alvin2042 About Contact  Quote this Post!
x 0   x 0  Alert Admin	U have no choice, don't take up means dilution n worst off pn current price or if price remain above 4 cts. josephyeo      ( Date: 01-Apr-2018 17:14) Posted: Share with you some figures/thoughts on Ausgroup: 1. number of shares (x1000) current - 1504805 subscription shares - 1050000 (subscription at 3.5 cts per share) rights share - 752402 (1 for 2 at 3.5 cts per share) total number of shares - 3307207 2. earnings current year - 1st half - A$7191 in S$7,262 (based on exchange rate of 1:1.01) full year - A$14,382 in S$14,525 (based on exchange rate of 1:1.01) 3. earning per share current half year - 7262/1504805=0.0048 or 0.48 cts per diluted full year earning per share - 0.44 (profit divided by number of shares ... S$14,525 divided by 3307207 shares) 4. price current as on thursday close - 4.7 cts rights, subscription - 3.5 cts per share 5 price earning ratio (P/E) on current half year - 9.79  times (4.7 cts / 0.48 cts or prce divided by earning per share) full year n including rights n subscription shares and an assume price of 3.5 cts , the price earning ratio would be ... 7.9 times (PE = price divided by earning per sgare) In conclusion, it seems that if current earnings are maintained the p/e is only 7.9 times on a price of 3.5 cts. The p/e at 4.7 cts is around 10.6. Based on above, i will be going for the rights issue. Will share why i will take up the rights at a later date when time permits. Above are just my thoughts/views, pls do your own due diligence.
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josephyeo Elite	01-Apr-2018 17:14        josephyeo About Contact  Quote this Post! Style: Fundamental
x 0   x 0  Alert Admin	Share with you some figures/thoughts on Ausgroup: 1. number of shares (x1000) current - 1504805 subscription shares - 1050000 (subscription at 3.5 cts per share) rights share - 752402 (1 for 2 at 3.5 cts per share) total number of shares - 3307207 2. earnings current year - 1st half - A$7191 in S$7,262 (based on exchange rate of 1:1.01) full year - A$14,382 in S$14,525 (based on exchange rate of 1:1.01) 3. earning per share current half year - 7262/1504805=0.0048 or 0.48 cts per diluted full year earning per share - 0.44 (profit divided by number of shares ... S$14,525 divided by 3307207 shares) 4. price current as on thursday close - 4.7 cts rights, subscription - 3.5 cts per share 5 price earning ratio (P/E) on current half year - 9.79  times (4.7 cts / 0.48 cts or prce divided by earning per share) full year n including rights n subscription shares and an assume price of 3.5 cts , the price earning ratio would be ... 7.9 times (PE = price divided by earning per sgare) In conclusion, it seems that if current earnings are maintained the p/e is only 7.9 times on a price of 3.5 cts. The p/e at 4.7 cts is around 10.6. Based on above, i will be going for the rights issue. Will share why i will take up the rights at a later date when time permits. Above are just my thoughts/views, pls do your own due diligence.
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TraderBen Supreme	01-Apr-2018 07:27        TraderBen About Contact  Quote this Post!
x 0   x 0  Alert Admin	I am quite surprised they didn?t push the price higher before rights issue. But on the hindsight, the invested is the ssh in the company, so prob management had already thrashed it out on the table well before . I will subscribe to the rights and ride on the o&g recovery
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iinvestor Veteran	31-Mar-2018 12:30        iinvestor About Contact  Quote this Post!
x 0   x 0  Alert Admin	Beside existing shareholders being diluted, what about the previous bondholders who converted to equity at $0.058? If prospect are recovering, why placement at such a large discount??
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F1nGolf Member	31-Mar-2018 12:18        F1nGolf About Contact  Quote this Post!
x 0   x 0  Alert Admin	2.1. Subscription Shares and Issue Price 2.1.1. Subject to the terms and conditions of the Subscription Agreements, the Company agrees to allot and issue: (a) 750,000,000 Subscription Shares to Asdew or AOC (as the case may be) for an aggregate consideration of S$26,250,000 and Asdew or AOC (as the case may  be) shall subscribe for such number of Subscription Shares, provided always that the aggregate number of Subscription Shares held collectively by Asdew or AOC (as the case may be) and its concert parties shall not exceed 29.9% of the Enlarged Share Capital (as defined in paragraph 2.1.4 below), and that theCompany shall not allot and issue any fractional Shares in relation thereto (b) 200,000,000 Subscription Shares to BT for an aggregate consideration of S$7,000,000 and BT agrees to subscribe for such Subscription Shares and (c) 100,000,000 Subscription Shares to MP for an aggregate consideration of S$3,500,000 and MP agrees to subscribe for such Subscription Shares.
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F1nGolf Member	31-Mar-2018 11:48        F1nGolf About Contact  Quote this Post!
x 0   x 0  Alert Admin	Don' t see any strong enough reasons for the strategic investors as in the announcement to accumulate for rights since they already have a deal to subscribe at $0.035. It would be easier for them to negotiate for more rights. Furthermore, there is a condition of the 29.9% interest limit on the enlarge share capital. I won' t be surprised if the price drops when trading resumes. I' m already vested and aside the substantal stakeholders, I was hoping a better deal for the existing stakeholders. The company can definitely do better! DOYDD.  investor7      ( Date: 30-Mar-2018 13:11) Posted: May not get to 4.4cts b4 XR date, if the ' potential strategic investors' , as mentioned in the latest announcement, start to accumulate ausgroup shares from the open mkt so as to be entitled to the rx. It depends on what value these potential investors see in this company.  What makes ausgroup investitble is that, its valuation is fair, in fact undervalued given its potential to grow. Its biz prospects hv become brighter, expect growth as the new facilities are ready, improving top & bottom line.  My few cts invested now may double, even triple if ausgroup continues to grow steady, steady over the next couple of years.      investshare      ( Date: 30-Mar-2018 12:48) Posted: (0.48 x 2 + 0.35) / 3 = 0.44?
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investshare Supreme	31-Mar-2018 08:47        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	Sorry the number should be lower as I did not take into account of dilution from placement. investshare      ( Date: 30-Mar-2018 12:48) Posted: (0.48 x 2 + 0.35) / 3 = 0.44?
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Alvin2042 Master	31-Mar-2018 08:39        Alvin2042 About Contact  Quote this Post!
x 0   x 0  Alert Admin	No issue with rights issue to raise capital. Problem is the huge placement at huge discount to mkt price. The no of shares in the placement is bigger than the right issue, leading to huge dilution to existing shareholders. Ultimately, Ausgroup financial will strengthen, but what will the existing shareholders gain? happyharvest      ( Date: 30-Mar-2018 21:48) Posted: not sure if you are related to Ausgroup or you are sent to send positive sentiment for this fund raising. Hope everything turn out as you expect. investor7      ( Date: 30-Mar-2018 13:42) Posted: And i forgot to mention that issuing rights is better than taking on more bank loan or issuing high rate bonds in an environment where int rates are creeping up.  Rights issue is good for raising funds, bcos it does not incur hefty int payment that eats into the earnings.
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happyharvest Elite	30-Mar-2018 21:48        happyharvest About Contact  Quote this Post!
x 0   x 0  Alert Admin	not sure if you are related to Ausgroup or you are sent to send positive sentiment for this fund raising. Hope everything turn out as you expect. investor7      ( Date: 30-Mar-2018 13:42) Posted: And i forgot to mention that issuing rights is better than taking on more bank loan or issuing high rate bonds in an environment where int rates are creeping up.  Rights issue is good for raising funds, bcos it does not incur hefty int payment that eats into the earnings.
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happyharvest Elite	30-Mar-2018 21:46        happyharvest About Contact  Quote this Post!
x 0   x 0  Alert Admin	Any idea when rights will be approved? I hope I will be in Singpaore to apply for the rights. investor7      ( Date: 30-Mar-2018 12:40) Posted: The CEO & mgmt is right to issue rights. Ausgroup hs delivered 5 consecutive quarters of profit n actively bidding for more service contracts. Moreover the mining & O& G sectors that it supports hv recovered, just look at the big O& G stocks, kepcorp, sembmarine.... all are recovering.  So I will subscribe to the rights. Luckily i still hv some cash to buy the rights at 3.5ct, and hold for the longer term. I believe that Ausgroup financial position will strengthen after this fund raising (rights), and the new funds can support its growth. Traders on the other hand, are in for the quick bucks, may not believe in Ausgroup growth story, and may choose to get out. Each one of us must decide for ourself.
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