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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » 18-Sep-2013 TESS - Right Issue and Capitalization of Reserves

18-Sep-2013 TESS - Right Issue and Capitalization of Reserves

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sriranga

sriranga
Co-Admin

http://www.cse.lk/cmt/upload_cse_announcements/9241379470983_.pdf

18-Sep-2013 TESS - Right Issue and Capitalization of Reserves Tess10

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

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

What is going to be the post right price? Today's price fall due to this announcement?

K.Haputantri

K.Haputantri
Co-Admin

Timimg of the issue is not good.

ccsentha


Vice President - Equity Analytics
Vice President - Equity Analytics

When compared with there earnings, the right issue is massively expensive,

when we take the 30/06/2013 financial statement, (they didn't make a profit on the last 3 previous quarters, they only made a profit on this quarter)

Post right issue eps would be 0.009.

Voting right issue P/E = 166.67
Non voting right issue P/E = 100

Massively over priced right issue.

518-Sep-2013 TESS - Right Issue and Capitalization of Reserves Empty TESS Rights at a glance Wed Sep 18, 2013 2:02 pm

sriranga

sriranga
Co-Admin

18-Sep-2013 TESS - Right Issue and Capitalization of Reserves Tess110

18-Sep-2013 TESS - Right Issue and Capitalization of Reserves Tess210
Feedbacks welcome.

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

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

Sept 18, 2013 (LBO) - Sri Lanka's Tess Agro, a fishery exporter has made a 117 million rupee cash call to finance a European marketing arm and a domestic project.

The Tess Agro said it wants to sell 60 million ordinary shares at 1.50 rupees to shareholders at the rate of one for every three existing ones.

Another 30 million non-voting shares will be sold at the rate of one for every six existing shares for 90 cents a share.

The firm said the money will be used to fund a marketing arm in Belgium and a project to build facilities in Sri Lanka's Muthurajawela area.
www.lbo.lk

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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » 18-Sep-2013 TESS - Right Issue and Capitalization of Reserves

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