Asian Pay TV Tr   

Asian Pay Tv Tr

Oh sorry, misunderstood u.

lawrence83      ( Date: 28-Apr-2020 21:50) Posted: I was referring to the $ 0.65 they had been paying for most of the year before cutting to just 0.12 saying they want to conserve cash and reduce debt. After a year, they issue right to pare down debt when they already cut one major big one. Another 20% is a big hit. pkli899      ( Date: 28-Apr-2020 16:36) Posted: I think u got it wrong. Dividend cut from 1.2c (0.3c x 4) per year to 1.0 c (0.25c x 4). So is reduction of 20%, not 80%

 

APTT declares 0.3 S cent DPU for Q1, proposes 1-for-4 rights issue to pare debt
TUE, APR 28, 2020 - 9:55 AM

PAY TV firm Asian Pay Television Trust (APTT) on Tuesday declared an ordinary interim distribution per unit (DPU) of  0.30 Singapore cent for its first quarter ended March 31, 2020, unchanged from a year ago.

The DPU will be paid on May 15, after books closure on May 8.

Revenue for the quarter rose 8.3 per cent to S$79.3 million from S$73.2 million and Ebitda (earnings before interest, tax, depreciation and amortisation) increased 9.5 per cent to S$48.3 million from S$44.1 million a year ago.

The quarter' s revenue and Ebitda were mainly driven by higher non-subscription revenue generated from airtime advertising sales and others, the trustee-manager of APTT said.

Separately, the trustee-manager has proposed a  renounceable non-underwritten rights issue to raise gross proceeds of about S$46.2 million.

Some S$45 million of the net proceeds would be used to pare APTT' s offshore debt, enabling the trust to save about S$2.9 million in annual interest cost  and strengthen its financial position.

The remaining S$0.1 million of the net proceeds would be used for working capital, the trustee-manager added.

A total of about 361.3 million rights units would be issued at 12.8 Singapore cents each, on the basis of one rights unit for every four existing units held by unitholders as at a record date to be determined.

The issue price is at a discount of about 3.8 per cent to APTT' s last traded price of 13.3 Singapore cents on Monday, when it closed up 0.1 cent or 0.8 per cent.

APTT' s trustee-manager, in its personal capacity, and three other unitholders have each given an irrevocable undertaking to subscribe for their entitlements and to apply for any excess rights units.

The total commitments under the irrevocable undertakings would be equal to the total number of rights units  available under the rights issue.

The three unitholders are Araedis Investment, Hsiao Han Shen and Lu Fang Ming.

Mr Lu is a director and current majority owner of the trustee-manager, while Araedis Investment' s parent firm Araedis Global Investment owns Da Da Digital Convergence, the proposed future majority owner of the trustee-manager.

Da Da Digital is controlled by Dai Yung Huei, the founder of Taiwan-listed Dafeng TV.

In February 2020, Da Da Digital had  entered into a sale-and-purchase agreement (SPA)  with Gear Rise, the parent firm of the trustee-manager' s sole shareholder, Dynami Vision, to acquire a 65 per cent stake in Dynami.

The SPA is subject to, among others, approvals from  regulatory bodies in Taiwan and lenders of APTT and Taiwan Broadband Communications Group.

The rights issue is subject to approval in-principle from the Singapore Exchange for the listing of and quotation for the rights units on the bourse' s mainboard.

https://www.businesstimes.com.sg/companies-markets/aptt-declares-03-s-cent-dpu-for-q1-proposes-1-for-4-rights-issue-to-pare-debt

 

Won' t be surprised if they' re trying to clear debts and tidy up the finances and books in preparation for taking private/buyout in the future.
Just like what AGT did with their impairment of goodwill last year. 

 

I was referring to the $ 0.65 they had been paying for most of the year before cutting to just 0.12 saying they want to conserve cash and reduce debt. After a year, they issue right to pare down debt when they already cut one major big one. Another 20% is a big hit.

pkli899      ( Date: 28-Apr-2020 16:36) Posted: I think u got it wrong. Dividend cut from 1.2c (0.3c x 4) per year to 1.0 c (0.25c x 4). So is reduction of 20%, not 80%. lawrence83      ( Date: 28-Apr-2020 11:36) Posted: Right issue at $ 0.128. Dividend seem going to get cut. Anyone taking up rights? I will not take on dividend as dont quite understand why they need to do this after cutting dividend by 80%

 

I think u got it wrong.
Dividend cut from 1.2c (0.3c x 4) per year to 1.0 c (0.25c x 4).
So is reduction of 20%, not 80%.

lawrence83      ( Date: 28-Apr-2020 11:36) Posted: Right issue at $ 0.128. Dividend seem going to get cut. Anyone taking up rights? I will not take on dividend as dont quite understand why they need to do this after cutting dividend by 80%

 

It's very sad that they cut dividend distribution by 80%. if they use it wisely, they dont need right issue. I also cut my holding by half. It seem that the strategic review and come to nothing.

Contrarian92      ( Date: 28-Apr-2020 12:21) Posted: Dividend cut to 0.25 cts per qtr, which translates to dividend yield of 7.75% based on current price of $0.129. High capex and highly competitive business, akin to our local telcos. Just look at the dividend payout of our local telcos over these years u probably can guesstimate the chances of dividend increment in the foreseeable future for APTT. At current dividend yield, there are better stocks to invest, amid current crisis. Anyway, I had sold off 60% of my holdings yesterday pre-empting they may cut dividend ( but didn't expect them to raise rights issue). I would probably not subscribe to the rights for the remaining 40%.

 

Dividend cut to 0.25 cts per qtr, which translates to dividend yield of 7.75% based on current price of $0.129. High capex and highly competitive business, akin to our local telcos. Just look at the dividend payout of our local telcos over these years u probably can guesstimate the chances of dividend increment in the foreseeable future for APTT. At current dividend yield, there are better stocks to invest, amid current crisis. Anyway, I had sold off 60% of my holdings yesterday pre-empting they may cut dividend ( but didn't expect them to raise rights issue). I would probably not subscribe to the rights for the remaining 40%.

 

Right issue at $ 0.128. Dividend seem going to get cut. Anyone taking up rights? I will not take on dividend as dont quite understand why they need to do this after cutting dividend by 80%

 

All the times Q1 results around mid May, this year is 28th Apr.
Half a month earlier then usual.......what' s up? Good news??

 

the trend is for coys to not just reduce but dont pay dividend

 

Any reasons for the delayed. Let' s hope they dont cut the dividend further.

Wind888      ( Date: 02-Apr-2020 12:39) Posted: --- Post Removed by User ---

 

seem like interest coming back...

 

what happen to this stock and the strategic review.

TANPK123      ( Date: 11-Feb-2020 14:57) Posted: HOLDING at this price very long time. 167-170. Stable price range. Hope once got good news. Bb will push it up hight. Can dance liao.

 

HOLDING at this price very long time. 167-170. Stable price range. Hope once got good news. Bb will push it up hight. Can dance liao.

 

No why......just want to get out.
Somebody offer I let go.....simple as that.

LionInvestments      ( Date: 11-Feb-2020 13:45) Posted: why do you think this is better than if the company would continue under control of mr Lu? pkli899      ( Date: 11-Feb-2020 10:31) Posted: Lai liao......lai liao. At last, some action. Buying 65% of Trust Manager is the prelude. Mid-long term is to increase stake in APTT. Positive news finally.

 

why do you think this is better than if the company would continue under control of mr Lu?

pkli899      ( Date: 11-Feb-2020 10:31) Posted: Lai liao......lai liao. At last, some action. Buying 65% of Trust Manager is the prelude. Mid-long term is to increase stake in APTT. Positive news finally.

 

Lai liao......lai liao.
At last, some action.
Buying 65% of Trust Manager is the prelude.
Mid-long term is to increase stake in APTT.
Positive news finally.

 

APTT eyes 5G tie-up with Taiwan firm after proposed 65% stake sale
TUE, FEB 11, 2020 - 9:22 AM

THE parent company of Dynami Vision, which is the  sole shareholder of Asian Pay Television Trust' s (APTT) trustee-manager, is looking to pare its stake for an undisclosed sum.

The buyer in the proposed deal is Da Da Digital Convergence Co, a company controlled by Taiwan-listed Dafeng TV' s founder Dai Yung Huei. Dafeng TV operates cable television systems and provides broadband services in Taiwan' s domestic markets.

Da Da Digital will acquire a 65 per cent interest in Dynami from the latter' s parent company Gear Rise, APTT' s trustee-manager said in a filing just after midnight on Tuesday.

In the mid to long term, the Taiwanese firm is also keen to increase its stake in APTT, Mr Dai said.

Brian McKinley, chief executive of APTT Management, said Da Da Digital will become a new strategic partner for the trustee-manager.

https://www.businesstimes.com.sg/companies-markets/aptt-eyes-5g-tie-up-with-taiwan-firm-after-proposed-65-stake-sale

 

Maybe is push up to get rid.......because no deal?
Strategic review no bear fruit?

 

Hope so.... Finally see some move.

pkli899      ( Date: 17-Jan-2020 10:16) Posted: TV is moving..........good news coming?