Have just checked and found that Saizen closed at 14.1 cents yesterday. I marvel at the resilience of this stock -- it survived the Jap earthquake/nuclear mess. By being resilient in price, it has actually outperformed the market. I wish I had this stock instead of some others which have gone down 30%.
The other good thing about Saizen, I have learnt, came out of its financing challenges. As Brian Tan wrote: " What was good was that they sold off some assets to repay the loan and that gave an accurate reading on the value of their assets, so I trust their asset base. Their asset base is very much higher than share price, so it’s highly undervalued."
BRIAN R. TAN: The 5 stocks I like most are .....
In other words, when forced to sell off some assets in order to settle their mortgage financing issues, the market could get an accurate idea of the value of Saizen's assets. Distress sales are a good time to gauge how much your assets are really worth in those times.
Anyway, with 2012 coming up and lots of bargains in the market, I will (sadly) give Saizen a miss. Either that or I will pick up some quantity just to be in on a good stock -- though I think its upside could be less than the other beaten down stocks such as China Minzhong and Synear Food, and special situations such as Action Asia (which has been chased by its major shareholder, suggesting that a privatisation might happen).
It's hard to understand how silly investors can get. Saizen warrants expired today and the company announced that 21,973,622 were "invalid" -- meaning expired worthless w/o being exercised.
What happened to the holders? They should have exercised the warrants as the exercise price was 9 cents. Then sell the mother shares at 12-13 ccents.
How can a shareholder allow a warrant that is in the money to lapse?
