tmd ... my average is 0.815. buying this for better dividend and now become like that ..
Can some expert explain everything and what is going to happen ?
Now is wait for Fortis shareholders and one other regulatory approval, to buy the assets from RHT, to close the deal. They do not foresee any problem in getting this 2 approval. The long stop date to close the deal is 31.12.18 but they do not expect it to be so late. Thereafter, we are expected to get the special dividend, which by now should be slightly more than 72 cents only. (not the 76.6 cents previously mentioned because of rupee depreciation. Today's rate will be used).
The balance 5% of the net proceeds (around 4 cents) will be retained and they are allowed to use not more than 10% of this sum for their expenses while they explore the prospect of injecting new assets in order to keep the listing of the trust. They are given one year to do it. However, if by 6 months time, still no significant progress, they will have to start the delisting procedure. The balance 90% of the retention sum will be returned.
Meanwhile, we will still get our dividend up till the day deal is completed.