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234 Posts.

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24/08/16

11:00

Post #: 18636714
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Originally posted by kcheers ↑

without using a calculator and I cant offer advice.
There are 3 payments of capital by the end of November expected. You should read those announcement's also. this could equate to low to mid 70's cents. The rest of the funds relate to past profits and have tax consequences and there is a period in there where china tax laws have changed and they have tax experts on a discovery mission?
This later part could take 12 months or more to repatriate. The NAV recently went over $1 but I think the funds will be liquidated completely soon except for some on hold/suspended which is under 5%.
I was so happy to get 93 cents and would not have imagined 96. Who is buying? I would think its just one buyer mainly. Maybe a fund? May even be a amp capital fixed interest fund helping some here liquidate?
back to the expected amount in the windup. You would have to allow for amp's fees and costs and Chinese taxation to wonder if there is much left above 96 cents.

my guess is a fixed interest type manager sees this as a annualised return greater than what else is available? I do think there is currency risk also as the cash will be held in US currency in a Chinese bank.

welcome any other comments to correct or confirm

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thankyou, helps me a lot.

AGF Price at posting: 96.0¢ Sentiment: None Disclosure: Held
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thankyou, helps me a lot.

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