I’m not too sure on that. You will have to search the past year’s SGX’s announcements. Any buybacks would have been disclosed.

Many thanks for the link and the detailed explaination.

I also wanted to find out if there was a buy back along the way before the rights were issued. Do you have any information with regards to this?

Your advise if greatly appreciated.

Best Regards,
Tricia

There’s 27 new shares for every 10 existing shares, so you end up with 37 total number of shares for every 10 existing now.

If there were 10 new shares for every 10 existing shares – you multiply by 2 and not 1.

It simply means there are 141.9 million shares after the rights issue. Those rights not taken up would be taken up by the shareholders who apply for excess rights.

For the consolidation, 10 shares of csm were combined into 1. So if you own 10 shares initially, you will end up with only 1 share after the consolidation.

The numbers can be found on CSM balance sheet for 2008. For 2009 it is based on a forecast.

As at Dec 08, the total shares outstanding was 383.5m and for Dec 09 is expected to be at 941.8m.

My question here is why do we need to multiple the old shares by 3.7 instead of 2.7? Next, when i worked out the calculation, it gave me a figure of 141.9, what does the figure represent?

Also, you mentioned that there was a rights issue and then which was followed by a consolidation. Can you brief me a little bit more on the consolidation. I will also like to know if there was a buy back along the way before the issue of rights even took place. As not everyone would have taken up the rights. If so what were the assumptions?

Thanks.

Where did you get the numbers?

There was a rights issue of 27 shares for every 10 shares during that period, so the new number of shares = old number x 3.7. Further, they did a 10 for 1 consolidation after the rights issue, so you will divide the total number of shares by 10.