At the moment CAMPA seem to be a better buy then CAM ordinaries. Over the next two years, a $1 investment in CAMPA yields 51c in gross dividends and leaves you with .95 CAM shares - a $1 investment in CAM yields 14c in gross dividends and leaves you with 1.1 CAM shares. If CAM maintains the same price, the IRR comparison is 11% vs 7.5% in favour of CAMPA. If the CAM price has increased to $1 by the conversion date in 2017, then the IRR comparison is 15.5% vs 12.7% - in fact the CAM share price would have to increase to $2 before CAM becomes a better investment than CAMPA, at which time the IRR’s are well over 50%.
IMO management would be better off buying back CAMPA.
Ann: NTA update - June 2015, page-9
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80.5¢ |
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Mkt cap ! $117.2M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 6 | 67750 | 80.5¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 81.5¢ | 6849 | 2 |
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