Shares & Derivatives
Jaya Holdings to sell all its subsidiaries for S$625mn to Mermaid Marine Australia…..so no takeover but will we get a special dividend and cash payout
By Kevin Scully-Financial Blog  •  February 25, 2014
Jaya Holdings to sell all its subsidiaries for S$625mn to Mermaid Marine Australia.....so no takeover but will we get a special dividend and cash payout Tuesday, 25 February, 2014  8:16 AM
Posted by Kevin Scully

 Jaya Holdings has announced that it intends to sell all its subsidiaries, ie its entire business for S$625mn to Mermaid Marine of Australia.  Including its cash of US$10mn, the sale consideration together with the US$10mn cash works out to an NAV or gross implied value per share of S$0.826.  Significant shareholders who own 52.9% of the shares of Jaya have agreed to support the proposal which is still subject to shareholder approval at an EGM but given the support from this group of shareholders the transaction is likely to go through.

I have liked Jaya Holdings for some time as a value and yield play and its in both ...

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By Kevin Scully-Financial Blog
Kevin began his working life in the regional and economics division of the Ministry of Foreign Affairs. He then moved to the private sector analyzing equities before venturing out to start NRA Capital. After 25 years of watching stocks and living through financial disarray during the Pan Electric Crisis, the 1987 Crash, the Barings debacle, the Gulf War, Asian financial crisis - what can sub-prime do but add another scar to already bruised wounds. Ever since starting his blog, Kevin has been enthusiastically giving his personal views on the market. He discusses about equities, the market turmoil, and the broad economy.
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