A-Sonic Ripe for Takeover

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06 Sep 2021 17:52 #25865 by walterlim
Net Cash of Company is about $40.5 million SGD and currently market capitalisation is only $34.8m. The company is debt free and has been turning around for several quarters now. HY2021 revenue is 61% higher than HY2020. Net Profit fell largely due to one off net gain last year and also various government grants during the circuit breaker.

The trade price of the company should be at least equal to the net cash position, translating to $0.675. CEO has been buying u shares lately.

Aug 26 - 1.03million shares at $0.80 (married deal from fellow executive director)
Aug 17 -  31000 shares at $0.6346.
Jul 12 - 10000 shares at $.5945
Jul 19 - 61200 shares at $0.5798

At $0.80, it is a premium of 37.5% on top od today's closing price.

CEO also acquired 257057 warrants at $0.72.

All actions point to a takeover offer as the warrants issued two months ago has not improved trading liqudity. Company is severely undervalued and still under the watchlist as the market cap has not reached $40million.

Heavily vested.

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