Got it from some source - Kojam Finvest
DEAR long term investor
the topicstarted with kojam finance which is supposed to beaholdingcompany of guj. glass. what is your exact recommendation on kojam ?
you discussed some other company -kashyap
please clarify
podury
On Sep 13, 11:57 am, “long term investor” wrote: > Hi friends, > again sonia sharma is back.dont get stuck in her operator > stocks.kojm wht she is not factoring in is holds 50% and not 100% of gujarat > glass. > > *Scrip Code*:532536 *Company Name*:KOJAM > FIN > > February, 1 2007 > > *News Subject:* > > Kojam Fininvest - Outcome of Board Meeting > > *News Body:* > > Kojam Fininvest Ltd has informed BSE that the Board of Directors of the > Company at its meeting held on January 31, 2007 has considered and approved > a Scheme of Arrangement and Amalgamation u/s 391 to 394 of the Companies > Act, 1956. The Scheme envisages merger of the Company into Gujarat Glass Pvt > Ltd (’GGL’) which is an unlisted subsidiary of the Company. > > GGL is engaged in the business of manufacturing Glass Containers. The > Company holds 53.86% of the equity share capital of GGL. Apart from > investment in GGL, the Company does not have a substantial asset base. > > Consolidation would result in the following synergies: > > - enable the shareholders of the Company to participate directly in the > fortunes of GGL instead of through the Company as at present. > > - result in reduction of the administrative costs. > > - result in saving in dividend distribution tax. > > The valuers (M/s. Dalal and Shah, Chartered Accountant) have recommended the > Share Exchange Ratio of 0.9317 share of Rs 10/- of GGL for every 1 share of > Rs 10/- held in the Company. GGL’s shares held by the Company will get > cancelled on the Scheme becoming effective and the same number of shares to > be distributed to the shareholder of the Company. > > However for the sake of administrative convenience and in interest of the > public shareholders of the Company, Board has approved the ratio of 1 equity > share of Rs 10/- of GGL for 1 equity share of Rs 10/- held in the Company ( > i.e 1 for 1). Consequently share capital of GGL shall stand increased from > Rs 17.30 crores to Rs 17.98 crores. RSM Advisory Services Pte Ltd are the > advisors to the restructuring exercise. > > The salient features of the Scheme are as under: > > - Appointed Date is fixed as April 01, 2007. > > - GGL to issue shares to shareholders of the Company in consideration for > merger in the ratio as stated above. The Company shares will get delisted > and GGL shares will be listed. > > - On the Scheme becoming effective, the Investment in GGL as appearing in > the books of accounts of the Company shall stand cancelled. > > - With effect from the Appointed Date, all assets and liabilities of the > Company shall be vested in and transferred to GGL. > > The Scheme is subject to requisite consents and approvals of the concerned > authorities. The Scheme has also been approved by the Board of Directors of > GGL. > > EARLIER ALSO I HAD POSTED AN ARTICLE ON KAASHYAAP AS TO WHY PEOPLE SHOULD > NOT BUY IT AGAIN IT WAS BEING RECOMMENDED AGAIN AND AGAIN > > PENNY SELL IDEA > > EXIT EXIT AND EXIT > > KAASHYAAP TECH > > Our informed sources have revealed us some interesting facts which we are > sharing with all our readers. > > The promoters of the company has most dubious and shady past records with > investors. > > They have in past duped investors in gv films( a group company under the > same management of usha venktramani ). > > Everyone should remember that even in as recent past as one year back some > rosy reports with good projections were circulated in Google groups and > investors.the price of gv films moved from 1 rs to 4 rs(similar to kaashyap > tech move from 2 to 6) based on the nexus based news flow among the > operators and the management.the company made rosy projections about its > future.(similar to aggressive projections made by kaashyaap management in > recent past) > > Interestingly similarly to gv films,kaashyaap has acquired some dubious > dubba companies and we have strong news that the company will come out with > a rights issue t 4 rs and the price wont ever come again. > > investors should see for themselves and invest, a company which is being > served notice for 15 cr dishonor of cheque by uti bank (now axis bank).talks > of a revenue of 450 cr by fy10.we believe its time that investor gets out of > these stocks. > > A recent past analysis has shown that the rs 1 face value gv film stock > moved to 3 rs (30 rs on the present face value) to less than 8 rs. > > The company kaashyap did a fccb whose shares have been offloaded in public > domain by the funds after creting the hype about the stock. > > we say > > EXIT EXIT AND EXIT > > PRICE MIGHT GO TO 20 OR 200 BUT WE T TEAM STOCKRESEARCHERS,BELIEVE IF YOU > STAY HERE PROFITS WILL COME, BUT THESE STOCKS WILL KNOCK YOU OUT FROM THE > MARKETS. > > ARTICLE IS COPIED FROM THE NIFTYVIEWS.BLOGSPOT.COM > > On 9/13/07, Guru wrote: > > > > > Kojam Finvest Limited is listed on BSE and NSE. Kojam is a pure holding > > company owning a 54% stake in Gujarat Glass Limited. > > Gujarat Glass has focused on being the leading provider of “flaconnage” > > (glass containers for the quality conscious pharmaceutical and cosmetics > > industries). GGL enjoys a leadership position in the niche pharmaceutical > > packaging segment that it operates in. GGL is the only company in India and > > one of the few in the world who manufacture and market the entire pharma > > range of glass bottles and vials (amber and flint, bottles and vials, > > sodalime and borosilicate). > > > Sonia Sharma: GGL has 3 manufacturing facilities - in Kosamba, near Surat, > > about 300 kms. northwest of Mumbai, Jambusar near Baroda, about 100kms > > beyond Kosamba, and at Ratmalana, in Sri Lanka. Jambusar plant is the > > world’s largest pharma amber bottles manufacturing plant at a single > > location. In all, the 7 furnaces of the company with 27 automatic production > > lines, many of which are electronically controlled state-of-the-art > > machines, produces 7 million glass bottles and vials every day throughout > > the year for quality conscious customers in the healthcare and cosmetics > > industry. Power is an important input in glass manufacturing. To ensure > > regular and high quality power supplies, Gujarat Glass has two natural gas > > based captive power plants at Kosamba and Jambusar to meet its power > > requirements. > > It ha > > For the year ended March 31, 2007, GGL’s sales were Rs 400 crs, EBIDTA Rs > > 105 crs and PAT Rs 35 crs and an EPS of 22. > > Kojam currently trades at abt 200 / share with a mkt cap of 200 crs. > > Transaction > > Kojam is under the process of merger with GGL. Shareholders of Kojam will > > receive 1 share in GGL for every 1 share held in Kojam. > > Value Proposition > > 1. All investment companies are typically traded at a discount of 50% to > > the underlying investments. (eg. Balmer Lawrie, Consolidated Finvest, Jindal > > South West Holdings, Tata Investment Corporation etc..). On merger this > > discount will disappear as Gujarat Glass will be a operating company. > > Implied value on listing Rs 400 / share > > 2. Assuming a trailing PE Ratio of 18, price per share works out to Rs > > 396. > > There will be no dilution in the > > There will be no dilution in the equity of GGL on account of the > > merger….. a clear upside of 100% in the next four months…. > > The Bombay High Court has approved the merger scheme on Aug 10, 2007
