|Mon 14:48||alanadale||The state of play.
CGH dividend is 12.06HKcents per share or 0.92p (1HK$=£.076). Fortune has a beneficial interest in 916m shares. Dividend on 184m shares wholly owned is £1.7m. Dividend on half share of 732m is £3.3m making £5m in all. This equates to 0.2p per Fortune share. The market valuation of Fortune’s stake in CGH is £627m (550m shares @ HK$15 or £1.14 a share) or twice (edited... read more...|
|Tue 11:51||alanadale||Del44. Your latest post on LSE resonates. The bits to the jigsaw begin to fit in place if one looks at the bigger picture and what is going on in CGH. Two comments come to mind in this regard: the first by Ian Taylor after the last AGM to the effect that Fortune faced a huge dilemma; it needed critical mass to remain viable and had to leverage itself into a higher league. The tie-up with CGH... read more...|
|Mon 16:33||del44||One thing that does seem to be moving closer is some kind of alliance with BEG. I know last year it was mooted that they wanted to negotiate a deal similar to FTO regarding its gas assets. Recently the CEO of BEG has stated that all things are possible with respect to deals with CGH......
I can not justify the omission of a final dividend on all current available information. Even if Danny boy... read more...|
|25 Jul 2014||alanadale||Just sent to the company
I would like to register my utter dismay at the perverse decision of the Board to pass the annual dividend.
You state the EPS for ongoing operations was 3p for the 15 months to end March 2014, which would justify alone a dividend of just under 0.5p a share (on an annualised basis) using the 20% distribution policy you purport to adopt.
The posting of a special... read more...|
|Tue 18:28||alanadale||This may be of interest in reply to my letter...
Thanks for your email.
As we stated in our announcement, Fortune Oil (“Fortune”) is now an investment holding company with equity accounting for the share of results of associates and JCEs. The core income stream/cash inflow of Fortune is primarily the dividend incomes to be received from its associates and JCEs, such as China Gas... read more...|
|Mon 21:38||muffster||No value here unless dividend and stock price climbs. Silly to hold on to what is an undervalued investment trust, but better to be out now I feel.
Management don't respect shareholders and are not following a progressive dividend policy. read more...|
|Mon 18:50||alanadale||There is a way they could have resolved the question of a lack of liquidity and secured a solid share price long term. They could have used the windfall profit from CGH to guarantee a minimum annual payout of say .75p for at least three years. The yield alone would have ensured the price doubling to 20p at which level it would still return a rock solid 3.75 per cent, an extremely attractive... read more...|
|Mon 16:07||pieball||Great posts everyone, frustrating for us all but i still expect this to come good.
There are bigger strategies at play here, we just don't know what they are and I don't think we can be told at this point! I don't go for the conspiracy theories though, the game just needs to play out.
|Mon 09:31||isef0001||pieball: If CGH sp increased as predicted by brokers, wouldn't that then reflect in FTO's accounts and thus, the KPI for Total Shareholder Return would be met notwithstanding that shareholders wouldn't necessarily see any improvement of sp or dividend. Not sure if that makes sense or not but thought I'd ask for your opinion. read more...|
|26 Jul 2014||pieball||
Jacks13: A company changing its KPI's is no small matter, especially a company who has met and exceeded their existing 6 KPI's. Giving it a paragraph in the annual report says a lot. Taking on a KPI of “Total Shareholder Return” speaks volumes about the direction of FTO in my book. Either the divvies will increase or the sp will increase otherwise they will not meet this measure. read more...|