Lot of interest here regarding Bezant we did point out the potential regarding the sale of Bezants’ Mankayan asset in the Philippines in May of this year, great guffaws of laughter ensued from the online Numpties. Of course those numpties always melt away and crawl back to their day-trading dreams. It’s always nice to re-visit a stock a few months down the line and to say “We told you so!”
It looks very good here and from what we can gather Private Investor sentiment should carry the day on the proposed sale at the General Meeting tomorrow.
Thats good news for holders of Bezant as the company are planning a Special Dividend to holders of the stock.
Chalk another one up for the Blog!
The sale involves a Non-refundable, upfront cash payment of US$7 million to Bezant with a further cash sum of US$63 million payable, on exercise of the option, to acquire the entire issued share capital of Asean which holds the Mankayan assets (Bezant own Asean) that’s a mouth-watering $70 million dollars and equates to well over $1 per share. Just what figure the company will return is anyones guess but it should be a hefty chunk of change. Here’s one for all you mathematicians; if the company return $20 million dollars to shareholders how much does that equate per share? Now put that on top of their present value and what do you get? You can do this with varying estimates try $10 million or $30 million etc. Of course the current Global meltdown has effected many stocks but in todays market CASH is KING. They’ve got to be worth a minimum of 50p!
So as we stated in May of this year Make no mistake the sale will go through!
Viva!
Dan
Thanks Dan
Well put
Thanks Steve
There is talk of PI’s voting no to the sale in order to get the board to commit to a dividend value and details of there intentions for the cash. It will be a feisty meeting I feel.
I heard there is a push through PI’s to vote NO to the sale as the BOD have not disclosed if they will pass on a dividend from the sale. PI’s want details of a dividend payment and details of use of the cash payment before agreeing with the deal. This should be a heated meeting. PI’s are scared the BOD with plunge all the cash into another venture, why would they care about a divident when none of the BOD hold shares in the company?
It will go through chad. The votes are stacking up in favour of it. Common-sense should get it through $70 million dollars is a huge financial incentive. The company must be thinking of returning 10/25million dollars.
Dan
‘we told you so’ – What utter rubbish, i suppose you DIDN’T tell us about Matra and Aminex Then?
No it’s not utter rubbish it is fact. Check the site. The oil & gas industry as well as Mining are driven by results. Matra are sat on a lake of oil. It’s a question of time. Aminex have been around for 20 years and are still here. An opinion given on this Blog is germane up to the day it is posted. Coming on 6 months later after the stock has risen then fallen on poor results trying to blame this Blog for a global meltdown really shows how idiotic you are.
Dan .
Good post Dan! I must admit I’m rather sceptical of a ‘special’ Dividend payout. Would it not be more beneficial for the company to reinvest the cash back into the business, organic growth through further acquisitions? This mutiny of sorts can’t be helping the share price.
can you please also write EPIC code with name of company
Hi,
I bought in yesterday,how long do you have to be in to be eligable for the dividend????
Regards
You’ll be ok as I understand it the option runs to 2013 however once they announce it a cut off pont will follow for holders.
Dan