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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Prosperity | LSE:PMHL | London | Ordinary Share | GB00B145WP66 | ORD 1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 129.75 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 129.75 | GBX |
Prosperity Minerals (PMHL) Share Charts1 Year Prosperity Minerals Chart |
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1 Month Prosperity Minerals Chart |
Intraday Prosperity Minerals Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 23/1/2014 | 22:30 | Prosperity Minerals - Significantly Undervalued Assets (PMHL) | 2,100 |
| 22/7/2013 | 16:13 | Prosperity Minerals - Significantly Undervalued Assets (PMHL) | 4 |
| 31/10/2012 | 08:55 | Prosperity Minerals: a grossly undervalued Chinese cement company | 6,711 |
| 13/2/2012 | 22:06 | PMHL - a Chinese valuation riddle | 815 |
| 05/9/2011 | 11:40 | Prosperity Minerals - Chinese cement and more | 1,173 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
|---|
Posted at 24/7/2013 12:01 by 0rb1t To me it looked like PIHL were making deals that were not beneficial to PMHL. Such as property deals that would benefit other parts of PIHL but not PMHL. Iron Ore offtake agreements that looked like they tied up substantial sums of cash for little return. Share buybacks timed just before share bonuses to inflate the bonuses that were then paid in cash. Or maybe these were just unfortunate business decisions.Fortunately for shareholders it looked like LIM Asia Special Situations Master Fund got some guarantee. 4 February 2013 Prosperity Minerals Holdings Limited ("Prosperity" or "the Company") Granting of put options over Prosperity's shares by its majority shareholder Prosperity notes the announcement made by its majority shareholder, Prosperity International Holdings (H.K.) Limited ("PIHL"), today on the Hong Kong Stock Exchange. PIHL has granted put options (the "Put Options") to LIM Asian Multi-Strategy Fund Inc. and LIM Asia Special Situations Master Fund Limited (together "LIM Advisors") in relation to their entire aggregate interest in Prosperity, being 7,869,396 shares (the "Option Shares") held by LIM Advisors, representing 5.49% of the Company's issued share capital. At the same time, PIHL announced details of a proposed issue of convertible notes over PIHL shares to LIM Advisors (the "Convertible Notes"). Under the Put Options, LIM Advisors can require PIHL (or its nominee) to purchase all or part of their Option Shares (and any shares deriving from their Option Shares) at an initial exercise price of £1.30 per Option Share (the "Exercise Price"), subject to adjustments, at any time over a two year period commencing from the issue date of the Convertible Notes. PIHL has agreed to pay the Exercise Price by issuing PIHL shares at an initial issue price of HK$0.50 per PIHL share (subject to adjustments) equal to the aggregate Exercise Price payable for the Option Shares. If PIHL does not complete the issue of the Convertible Notes to LIM Advisors, the Put Options will terminate. PIHL holds 91,865,324 shares in Prosperity, representing approximately 64.07% of the total issued share capital. If LIM Advisors require PIHL to purchase all their Option Shares, the percentage interest held by PIHL in Prosperity will increase from 64.07% to approximately 69.55% |
Posted at 23/7/2013 10:47 by rupe1958 Seems to me that the chances of forcing a better offer are quite good here. PIHL/JETGO (the bidder) has to get 90% acceptances. Looking at the offer doc page 7: "The Offer is conditional upon, amongst other things, valid acceptances being received in respect of such number of PMHL Shares which will result in the Company (directly and/or indirectly through Jetgo Bidco) holding in aggregate not less than 90% of the total number of PMHL Shares, including the PMHL Shares already held by the Company." I'll try to find out who the key person in at Mackenzie at make them aware how incredibly low this offer is. I'm sure that Aurora IT (Mars Asset Management) will be rejecting the offer. All PI's should do the same, IMO. We can definitely push the offer to 150, maybe higher. |
Posted at 16/7/2013 12:52 by celeritas I've added phil.The minimum will be the put option price which just happens to be 130p, it may get sweetened yet as Wong knows he is doing long term holders a disservice, then again would his morals really trouble him. The share price hit 90p recently so the current price is hardly much higher. |
Posted at 20/6/2013 12:12 by dr contrarian If Chairman Wong is looking to announce a takeover deal for remaining shareholders - I think he will be talking 130p minimum, because of the put option arrangement made with LIM a few months ago at 130p.'In connection with the issue of the Convertible Notes, the Company has also entered into the Put Option Deed with the Investors on 1 February 2013, pursuant to which the Company agreed to grant the Put Option to the Investors to require the Company (or its nominee) to purchase all or part of the Option Shares (i.e., 7,869,396 PMHL Shares,representing all the PMHL Shares held by the Investors as at the date of the Put Option Deed, together with any Derivative Shares) at the initial Exercise Price of £1.30(equivalent to approximately HK$16.12) per Option Share (subject to adjustments)at anytime from the Issue Date and ending on the second anniversary of the Issue Date.' |
Posted at 18/6/2013 08:53 by dr contrarian Looking for the Company to confirm (what most already know on here) and officially announce that the property pre-sales are significantly ahead of expectations. The last official pre-sales property update was the Interims in November 12.With the ACC stake accounting for around 90% of the PMHL market cap, the property and other assets purchased with the $484m proceeds of the cement disposal in 2010 are still being given very little value (less than 5% of their Net Asset Value). Hopefully will also see more action to narrow the difference between the share price and net asset value. |
Posted at 13/6/2013 13:59 by celeritas We shouldn't foget that pmhl received £337m for their cement business back in June 2010. The share price back then reached 170p. The bulk of the cash was invested into property which is only now coming to fruition.Anhui Conch is the most likely to buy acc, but I wouldn't rule out TCC. I remember when pmhl sold it's majority of cement plants and wondered why acc was never part of the TCC (Taiwan cement corporation) deal. On further research i found that pmhl was still in a lock in period so couldn't legally sell acc, so it never became part of the deal. That period is well past now. |
Posted at 07/6/2013 08:52 by dr contrarian Ed - Agreed, with so many of the assets not being properly valued, the Company has plenty of options to enhance shareholder value and the share price -- Special Dividend to shareholders from the proceeds of the TCC and Hangzhou disposals. - Re-start the share buy-back following the prelim results - Disposal of ACC and return of proceeds to shareholders - Special Dividend to shareholders after pre-sales of the development in Guangzhou are finalized and profits are booked. ... or perhaps the Chairman has his focus on a cheeky bid, pitched around the original flotation price (150p). |
Posted at 06/6/2013 19:07 by edmundshaw If he wanted to, David Wong could make all his shareholders very happy - himself included - just by selling ACC and putting half the proceeds into a return of capital. TBH, that would still undervalue the company massively at the same share price, but there would be some serious rerating potential - what, a UK listed chinese company seriously rewarding shareholders? :-)Currently still a bit under water in capital terms, and I know some are by quite a lot. The current share price is not really fair to long term supporters of the company I feel... |
Posted at 17/4/2013 10:30 by dr contrarian UP - As far as I can see, as the figures are in PMHL's accounts also. That ACC was used as security for PMHL purposes. PIHL are reporting this security as their loan as PMHL are classified as a subsidary of PMHL.Do not really see a problem with PMHL using this to guarantee for a loan, looking at their balance sheet, which is full of cash. Meanwhile the stake in ACC trades at 71p per share, so sell at 60p if you wish, I believe this year will see a decent rerating as the property development profits are booked. |
Posted at 06/2/2013 11:25 by mathisvale PMHL has been in a steady downtrend for 3 years. If the share price could get as high as 70p that would give a strong indication that the downtrend has been broken.If PMHL does start a new (up) trend then it has an awful lot of catching up to do before the rating gets to anywhere that could be considered fair. 70p is not that far away; one good surge should do it. I have held a shedload of PMHL shares for years. If it gets to 70p then I will start buying again. I remember the FANTASTIC share price recovery of 2009 |
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