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.
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!