TEN- Capital return

[cazzer]

Can someone explain what cash is to be paid on the capital return and what shares one is left with, assuming one holds 1000 shares.

[Paper Tiger]

If you have 1000 shares now you will end up with:
250 shares and $1150 cash.

[Lion]

And at today's sp of 217, those new shares should trade at about 408 each, I reckon. It will be interesting to see what does happen as sp appreciated quite a bit after 1st distribution, I seem to recall.

Ever hopeful Lion

[cazzer]

thanks

[Steve]

I currently hold 40 TENPA, the remainder of a holding that I originally acquired through the rights issue. This will reduce to 10 after the capital return.

Due to the small nature of the holding, I can participate in the Tenon 750 plan to either quit this small holding or increase it by $400 - $3,000 (either way free of brokerage.)

Does TEN have a future after all this? ie:should I take up this opportunity to increase my holding? It is not a share that I have been actively following...

[I.T.Ancient]

Maybe an expert can tell me if the following logic is sound. Post the capital return, TEN holders will have automatically had their TEN weighting reduced. However, with TEN being a smaller company, won't that lead to it droping out of some benchmarks so that some holders will be obliged to sell the balance of their holding? This coupled with the 750 plan (surely more selling than buying) should make for buying opportunities in the next couple of months for those who believe in TEN's future prospects.

[scamper]

something confuses me enormously -- not having a good week for sorting out confusions...
my pawful of TEN shares are ~minus 60% (the amounts are too small to worry about I tell myself).

I've done some calculations like deducting the capital payment from my original expenditure, and calculating on the new number of shares, and I make it that the post-payback share price needs to be $6.83 to maintain my current -60% loss.

Lion's calculation of $4.08 increases the loss to about 79%.
Could someone help put me out of my misery, please?

[Paper Tiger]

quote:Originally posted by scamper

something confuses me enormously -- not having a good week for sorting out confusions...
my pawful of TEN shares are ~minus 60% (the amounts are too small to worry about I tell myself).

I've done some calculations like deducting the capital payment from my original expenditure, and calculating on the new number of shares, and I make it that the post-payback share price needs to be $6.83 to maintain my current -60% loss.

Lion's calculation of $4.08 increases the loss to about 79%.
Could someone help put me out of my misery, please?

let us try: :)

Take for TEN/TENPA shares
They currently trade at (say) $2.20 each: Value is 4 * 2.2 = $8.80
Come reconstruction time.
You get $1.15 for ecah of those 4 shares and three are then cancelled
Value of the new share is then
$8.80 - ( 4 * $1.15 ) = $4.20

One new share at $4.20 plus $4.60 cash is the same value as 4 old shares at $2.20 each.

or to do it another way for the new shares share price: subtract $1.15 from the old shares share price and then multiply by 4.

4 * ( $2.20 - $1.15 ) = 4 * $1.05 = $4.20

Does that help [?]

[scamper]

Many thanks, P Tiger.

[coge]

So, does anyone know when we are to recieve our "windfalls".

-coge

[I.T.Ancient]

According to the announcement 23 February 2055.

I am expecting mine this year however....

[beautifulmind]

Have not kept a track on TEN ... what's the deal with the rise in share price?

[Steve]

quote:Originally posted by beautifulmind

Have not kept a track on TEN ... what's the deal with the rise in share price?

Why not TRY to read the preceeding posts in this thread![:0]

Beautifulmind[xx(]

;););)

[beautifulmind]

Cheers ... I did soon after posting (thought the postings were old at first glance).

[Steve]

quote:Originally posted by beautifulmind

Cheers ... I did soon after posting (thought the postings were old at first glance).


No problem. I enjoy being able to state the obvious...;)

[ari]

quote:4 * ( $2.20 - $1.15 ) = 4 * $1.05 = $4.20

by paper tiger

Trading at $4.50, not a bad start....but where to now?

[Paper Tiger]

to infinity and beyond [?]

[Westie]

I'm bullish on tenon's prospects regardless of what happens with the NZ/US exchange rates, but i have a question. Tenon current sp by my calculation is around 2.29 - 2.30 in pre capital return terms and rising. However, RBC has 50% of TEN and is the sp is 1.05. Now i can understand "the market" discounting RBC's stake somewhat, but that also seems to ascribe nil value to RBC's other assets. Any thoughts?

Disc: Hold both TEN & RBC but will reinvest capital return in RBC

[Paper Tiger]

Westie, my thoughts: You are not thinking straight.
Go look at the market cap of each and you should work it out. :)

[Steve]

I finally decided to top-up my TEN under the 750plan last friday - just to a minimum holding though.

[Westie]

Cheers for putting me straight PT, a clear lapse in logic on my part [B)]

[Morpheus]

Big volume this morning.
Anything happening ?

[madmike]

quote:Originally posted by Morpheus

Big volume this morning.
Anything happening ?


company buying for the 750plan!!!!!