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13-05-2020, 11:54 AM
Goodwill? Disappointing that even now, SG refuses to acknowledge they made a mistake in calculating the TERP. Instead they wrote :
"A corporate action on the part of a securities issuer announcing a simultaneous share and mandatory convertible bond issue is a far from frequent event. A range of views is possible with regards to the theoretical value of the MCBs Rights on 6 May 2020 (being the date on which the shares of SIA commenced trading on an ex-Rights Issue Basis). SG believes that it is a logical and fair view that the MCBs impact the price of the SIA DLCs."
SG value the rights of MCB at more than 15c while the market traded the rights close to zero......Shouldn't one just man up and admit one made a mistake...especially if the mistake has to do with simple arithmetic and time value of money.
"A corporate action on the part of a securities issuer announcing a simultaneous share and mandatory convertible bond issue is a far from frequent event. A range of views is possible with regards to the theoretical value of the MCBs Rights on 6 May 2020 (being the date on which the shares of SIA commenced trading on an ex-Rights Issue Basis). SG believes that it is a logical and fair view that the MCBs impact the price of the SIA DLCs."
SG value the rights of MCB at more than 15c while the market traded the rights close to zero......Shouldn't one just man up and admit one made a mistake...especially if the mistake has to do with simple arithmetic and time value of money.