re: Ann: Daily share buy-back notice - Append...
Just been looking at the figures for CIF while watching the closing of the games, these games will be very good for India, inspirational for the whole population
NAV reported at A$2.19 for the group as at 30th June, haven't looked closely enough how their hedging may compensate for rise in A$, Foreign exchange rates they used on 30th June AUD/GBP 0.5646 AUD/EUR 0.6896 AUD/USD 0.8447
Not much loose stock here so some days there hasn't been much on the sell side, not followed at all by the DT'ers
Look at today's open with 51k in the auction at 1.20 followed in the next 37 mins with 36k at 1.20, so that took care of the buyers today at 1.20, so seeing this open and the ensuing depth anyone watching would pull their bids, also noticed for first time today multiple single share selling in first 46 mins
So no buying pressure ATM but there certainly has been, check out the open and the first 30 min on 4th Oct with 732 mil in 1/2 hr which started to push up price, and so far anyway it's only been today where price has fallen through the floor range of 1.205-1.210
So what do I make of this fall today, I'm watching closely and ready to buy as CIF is heavily invested in by CGF, and Challenger is just going in one direction -up
After the buy-back there are now just 316.2 mil shares on the registry
1.380 close on 30th Jun x 318.6mil =$439.7mil MC 1.165 close on 14th Oct x 316.2mil =$368.4mil MC
In 30th June report NAV A$696.8mil/318.6mil securities =$2.19 per share
Dis-allowing for any hedging with A$ at parity NAV A$588.6mil/316.2mil securities =$1.86 per share
Keeping things in correct perspective as far as current share values go
30th June NAV A$696.8mil MC $439.7mil ratio 1.58
14th Oct NAV A$588.6mil MC $368.4mil ratio 1.59
Values remain approx the same if you bought at today's close price, this is all so rough and just gives me a guide as to how the NAV per share stacks up given the rise in A$, a decrease in the number of shares on issue, and the fall in share price from $1.38 on 30th June to current price
A note of interest is that both LBC and Inexus have good growth potential with Inexus sales pipeline recording strong inquiries both in the number of projects and their UAE's (utility asset equivalents), and much more importantly LBC have surplus land that can support an extra 2.7mil cubic metres of storage and best of all is that three quarters of this storage is in key strategic hubs, namely In Houston which is the no. 1 petrochemical region globally, Baton Rouge on the Gulf Coast, Rotterdam which is half of all Europe's petrochemical activity, and Antwerp which is the no. 2 petrochemical region globally
Not taking anything else into account with this, and noting it's a rough guide for me, and I haven't checked my figures here, (getting too late and closing of the games is nearly over) as I said I will be watching verrry closely with the current share price the divi return is 12%PA, and their guidance is on track for same divi payment as last half
CIF Price at posting:
$1.17 Sentiment: None Disclosure: Not Held
