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CapitComm RIGHT Discussion Corner

jeremyow
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01-Jun-2009 13:15

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Yes. You still have the rights entitlement if you sell only on Wed when it turns XR. But, you must eventually subscribe at $0.59 to own the rights units during the application and subscription date (see their rights announcement on SGX). The trade off to selling on Wed is that it's main unit price will decreased since everyone that shares the same mentaility as you will also want to sell, so there is selling pressure that is inevitable.

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august
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01-Jun-2009 13:10

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Hi,

I am vested in this counter. If I held until xr ,..and decided to sell, say on Wednesday, I would still get the rights, right, even thot on Wednesday, I am no longer holding the mother share. Kindly educate.

Thanks,

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victorf
Master

01-Jun-2009 12:22

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vested heavily in this counter from 60-90 cents from October 2008- March 2009...will subscribe excess for all rights...profit comes faster than i thought...good luck :)

victorf Senior	Posted: 29-May-2009 10:28 Contact victorf * Quote this Post!
x 0 x 0 * Alert Admin	I will subscribe the rights (vested in the last six months) and money ready in the bank now...believe the timing of the new issued share in July (if in August i will not be so confident) will be right for profit...good luck :)

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E-war
Veteran

01-Jun-2009 12:10

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Hmm... I always tot it was the px at the point when they announced. But anyway, thks for the clarification.

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Alligator
Veteran

01-Jun-2009 11:49

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That Theoretical Ex-Right Price (TERP) is just an academic number, its price follows a formula depending on the share dilution and the rights issue. since this one is 1 for 1 so 100% dilution, the formula is thus :

(market price +0.59)/2=TERP (at that market price)

when CCT made decision, they used the lastest closing price of 1.06, thus TERP (at1.06)=0.825

OCBS reports said their estimate fair value is 1.33 thus TERP(at 1.33)= 0.96.

TERP (at 1.20)=0.895

TERP ( at 1.30) =0.945

TERP (at 1.40)= 0.995

and so on, so just treat this as number based on this formula.. so everyone is correct lah.

E-war ( Date: 01-Jun-2009 11:34) Posted:

Thks, but I was asking for the theoretical ex-Rights price which shld be S$0.825 per unit.

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E-war
Veteran

01-Jun-2009 11:34

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Thks, but I was asking for the theoretical ex-Rights price which shld be S$0.825 per unit.

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dealer0168
Elite

01-Jun-2009 11:25

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OCBC puts ex-Rights fair value will be S$0.96. Refer to the website to see more:

http://www.ocbcresearch.com/Article.aspx?type=research&id=20090525090351_85985

E-war ( Date: 01-Jun-2009 03:31) Posted:

Sorry, shld the ex-Rights px be 0.895 or 0.86?

Quantico ( Date: 31-May-2009 16:58) Posted:

All shares (old and new) entitled to distribution wef 010109. DPU post rights is 5.91 cents. (refer to rights announcement).

At 0.86 (theoritical ex-rights price) , the yield is 6.87%.

The DPU for 2008 is 11.0 cents. This rights issue highly dilutes the DPU.

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E-war
Veteran

01-Jun-2009 03:31

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Sorry, shld the ex-Rights px be 0.895 or 0.86?

Quantico ( Date: 31-May-2009 16:58) Posted:

All shares (old and new) entitled to distribution wef 010109. DPU post rights is 5.91 cents. (refer to rights announcement).

At 0.86 (theoritical ex-rights price) , the yield is 6.87%.

The DPU for 2008 is 11.0 cents. This rights issue highly dilutes the DPU.

dealer0168 ( Date: 31-May-2009 11:44) Posted:

So does that mean, those RIGHT share can only be entitled divi next yr. But for the current CCT share that i currently hold, i still able to get the Divi this year July09 ....correct?.......

Can help elaborate on it? Thks. Smiley

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dealer0168
Elite

31-May-2009 17:18

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Quite a few companies have raised cash during this time using for various means. But think of it in another way. What companies are doing through by raising cash through RIGHTs might not neccesarily be a bad thing for the future. By raising cash, their net borrowing decreases. And if they make good use of the money obtained from RIGHTS to further expand their business, actually this dilution may not be a concern.

Company perform, profit will be more, & we investor will get more. I strongly believe CCT will make good use of the money fr RIGHTS. Smiley

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Quantico
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31-May-2009 16:58

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All shares (old and new) entitled to distribution wef 010109. DPU post rights is 5.91 cents. (refer to rights announcement).

At 0.86 (theoritical ex-rights price) , the yield is 6.87%.

The DPU for 2008 is 11.0 cents. This rights issue highly dilutes the DPU.

dealer0168 ( Date: 31-May-2009 11:44) Posted:

So does that mean, those RIGHT share can only be entitled divi next yr. But for the current CCT share that i currently hold, i still able to get the Divi this year July09 ....correct?.......

Can help elaborate on it? Thks. Smiley

jeremyow ( Date: 31-May-2009 00:59) Posted:

Yes, there is going to be dividend / distribution for this year. However, the amount of dividend/ distribution available per unit of CCT units most likely will be reduced due to the dilution effect of the rights issue. New investors getting the rights units will be entitled to the dividends/ distributions given out by CCT for this year starting from 1 Jan 2009.

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dealer0168
Elite

31-May-2009 11:44

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So does that mean, those RIGHT share can only be entitled divi next yr. But for the current CCT share that i currently hold, i still able to get the Divi this year July09 ....correct?.......

Can help elaborate on it? Thks. Smiley

jeremyow ( Date: 31-May-2009 00:59) Posted:

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jeremyow
Senior

31-May-2009 00:59

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Alligator
Veteran

30-May-2009 23:17

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There should be NO DOUBT about dividend, which is otherwise known as DPU or distribution per unit in REITS. The unique feature of Trust is set up so that the trust manager will distribute a substantial amount of its earning as DPU to shareholder. Thus REITs are meant to be 'income generating' type of investment.

Read their most recent document, copy here:

Status of the Rights Units
CCT’s current policy is to distribute its distributable income on a semi-annual basis to Unitholders.
The Rights Units will, upon allotment and issue, rank pari passu in all respects with the existing
Units in issue as at the date of issue of the Rights Units, including the right to any distributions which
may accrue for the period from 1 January 2009 to 30 June 2009 as well as all distributions thereafter.

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dealer0168
Elite

30-May-2009 21:37

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Not sure if CCT will give Dividend this coming July09. According the past record as shown below, there should be.

Hope CCT do a Capitaland, remember capitaland still give out Divi even after issuing RIGHTs.

Smiley

Have divi , that will be best.

Company Name	Type	Expiry Date	Record Date	Date Paid/Payable	Particulars

CAPITACOMMERCIAL TRUST	DIVIDEND	30 Jul 2008	1 Aug 2008	28 Aug 2008	010108 - 300608 SGD 0.0516 LESS TAX
CAPITACOMMERCIAL TRUST	DIVIDEND	30 Jul 2008	1 Aug 2008	28 Aug 2008	010108 - 300608 SGD 0.0003 TAX EXEMPT
CAPITACOMMERCIAL TRUST	DIVIDEND	30 Jan 2008	1 Feb 2008	29 Feb 2008	010707-311207 SGD 0.0032 TAX EXEMPT
CAPITACOMMERCIAL TRUST	DIVIDEND	30 Jan 2008	1 Feb 2008	29 Feb 2008	010707-311207 SGD 0.0415 LESS TAX

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dealer0168
Elite

29-May-2009 23:20

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Today hata-taki. Same price as yesterday.

Emm got few days wait , b4 we can subscribe the RIGHT. Smiley

Hope all people who own CCT share huah ah huah ah.....

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Alligator
Veteran

29-May-2009 11:18

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Time table for important dates

Last day of Cum Rights : Tues 2 June

Ex-rights: Wed 3 June

nil-paid rights trading period : Wed 10 June to Thur 18 June

Closing date Wed 24 June ( remember this is for CASH account, those with CPF account call your agent bank, their date is earlier)

Expected date for issue of Rights Units: Thur 2 July

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victorf
Master

29-May-2009 10:28

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I will subscribe the rights (vested in the last six months) and money ready in the bank now...believe the timing of the new issued share in July (if in August i will not be so confident) will be right for profit...good luck :)

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dealer0168
Elite

29-May-2009 00:10

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Today still go up up, while alot goes down. Good sign. People are rushing to collect it now. Smiley

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Alligator
Veteran

28-May-2009 11:19

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It is just their formality to get SGX approval first before this thing showed up. Read their announcement last night, SGX in principle approval. So today you see what you want to see the CR remark.

stockseeker Member	Posted: 27-May-2009 18:30 Contact stockseeker * Quote this Post!
x 0 x 0 * Alert Admin	But doesn't seem like it, b'cos there's no indication that the Cum-Rights is going on at the stock counters. There should be a "CR" on the counter. Neither is there any indicated on the SGX web site. Anyone can advise?

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lionsword87
Member

28-May-2009 11:07

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ic, thanks for the help :)

Alligator ( Date: 28-May-2009 10:40) Posted:

Yes..that is why i say now it is trading Cum RIghts, and it is better to consider buy now, rather than wait till nil paid rights is traded

lionsword87 ( Date: 28-May-2009 00:27) Posted:

ic .. so asssume the nil-paid is trading @ $0.305, the toal cost of purchase would add up to $0.305 + 0.59 + commission(+) = $0.895 ++ ?

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