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According to the recent announcement by Jerneh at Bursa, Jerneh is going to distribute:
1. Dividend of RM2.52 or RM1.87(minimum) AND 2. Capital Repayment of RM1.36 or RM1.41(minimum).
Adding up both the distribution above, Jerneh is estimated to pay - RM 3.88 (maximum) or - RM 3.28 (minimum)
The price today is selling at RM3.20.
If the reverse-takeover plan by Jerneh and Sagajuta Sdn Bhd is done in the next 2 months, we can expect the "new" listing of Jerneh to be at RM1.00. This is purely my estimation, though.
Because of the scenario above, Jerneh may worth RM3.28 + RM1.00 = RM4.28 (at least). This scenario is a guarantee win.
In case the reverse-takeover fail, Jerneh will carry out a full capital distribution to shareholders and subsequently, wind up the Company. This may be an even better scenario for the shareholders. Since Jerneh can pay up to RM3.88 for distribution, Jerneh must have a lot more cash and asset at the back.
How much does Jerneh worth if it wind up the company today? Definitely much more than RM3.88.
Regardless of any scenario above, it seems to me that if you buy now, it is a guarantee win in the next 2 months.
I am rather upset by Btimes report regarding this announcement because it only report the special dividend, and did not mention anything about the capital repayment.
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