Steppe Cement Share Discussion Threads

[cheshire man] 16/9/2020 12:46

speny,,,,,Anone looking for a good return on their investment should certainly be looking at this,,,,

[jailbird] 16/9/2020 10:36

where is all the stock coming from then..there is also a large seller

[speny] 16/9/2020 09:50

The effects of covid don't seem to of had a major impact, these results are better than I expected.

Reduced borrowings by $7m, reduced production costs, and increased cash position, all bodes well. I'd be surprised if this does not make another push to move back above 30p. You'd be hard pushed to find many small caps in a better position than Steppe, and I bet they don't pay a divi of 13%!

This company just requires better coverage, maybe it will come up on ST radar over at IC. If it were not for stockopedia, I'd never had found this company earlier in the year.

[king suarez] 16/9/2020 09:13

Great results imo.

The company would be cheap if those were annual results, let alone only half year interims..

[beeks of arabia] 16/9/2020 08:38

Managed to buy more before it moved it. Happy days!

[beeks of arabia] 16/9/2020 08:33

Results out - very much "in line"

[wilo101] 02/9/2020 09:48

Will be interesting to see if he reinvests all the GBP8.3m of cash received....

[mattjos] 02/9/2020 09:29

Now we know who Cantor have been collecting for

[mattjos] 02/9/2020 09:10

Simply a case of him grabbing hold of more of a good thing. Not easy to find this sort of % dividend return nowadays

[wanobi] 02/9/2020 09:01

aha, I see zd, it's the highest he paid, not the market ?

in that case, no idea and please all, ignore my suggestion as I miss-understood..

Cheers
Wan :-)

[timbo] 02/9/2020 08:48

Thanks Wilo101 What are the rules which apply in these circumstances with the different jurisdiction and yet being AIM quoted?

[zangdook] 02/9/2020 08:46

Do we have any reason to think he paid 38p in the last 12 months? Even aside from whether he is in fact under any obligation to bid.

[fozzie] 02/9/2020 08:38

Getting around the percentage holding limit by spreading ownership across several investment vehicles would surely be so transparent as to be ridiculous bwtfdik. On balance I would take 38p, I have had some nice divs and sat on an average price of 26p.

[wilo101] 02/9/2020 08:37

As all will recall STCM is a Labuan Federal Republic of Malaysia incorporated and registered company, which has its own laws, rules and regulations, not mainland Malaysia, and as you know the share register is in the Bailiwick of Jersey, the Channel Islands, not the UK, and the AiM Rules are different. Azmi would have received about GBP8.4m in dividends and seems to have re-invested circa 11% so far.

[zangdook] 02/9/2020 08:16

I appreciate it may be 33%, if Malaysian rules apply.

What I've never understood is what happens if someone goes above the threshold and makes the obligatory offer, but the other holders don't bite. Is he then free to keep adding to his holding in the market? Is there another threshold higher up?

Also, if he makes the offer and a few holders accept but not all, is he obliged to buy any shares for which his offer is accepted, or can he take an all-er-nothin' approach?

[cheshire man] 02/9/2020 08:03

Interesting times

[wanobi] 02/9/2020 07:59

STCM - either way it looks like his intentions are now out there for all to see which surely will put a rocket under the share price :-) we shall see, GLA Cheers Wan :-)

[brasso3] 02/9/2020 07:59

Where is Wilo? :)

[wanobi] 02/9/2020 07:58

so, TO offer at around 38p then Timbo ?

I can't see shareholders going for that, but, we shall see I guess :-)

GLA
Cheers
Wan :-)


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[timbo] 02/9/2020 07:58

But company is registered in Malaysia where it is apparently triggered at 33%.

[brasso3] 02/9/2020 07:56

Does he get around it by having it spread across three entities (Halfmoon Bay Capital Limited, Mango Bay Enterprises Inc. and Alwaha Fund Limited)?

[timbo] 02/9/2020 07:53

As per takeover panelWhen a person or group acquires interests in shares carrying 30% or more of the voting rights of a company, they must make a cash offer to all other shareholders at the highest price paid in the 12 months before the offer was announced (30% of the voting rights of a company is treated by the Code as the level at which effective control is obtained).

[wanobi] 02/9/2020 07:47

good question, anyone ?

:-)

Cheers
Wan :-)

[brasso3] 02/9/2020 07:03

How does this work with Azmi Wan Hamzah going above the 30% threshold?

[king suarez] 28/8/2020 13:23

Some whopper trades reported yesterday - about a million quids worth?