Bonus Keppel reit shares for Keppel Corp

Q&A
1

Hi Evan @evankoh
There is a bonus share distribution from keppel Corp. Every 5 keppel Corp will be given 1 keppel reit share. Date of distribution on 7 Nov 2023.

Hence would like to propose that I create a event for it.

The reference is
REPL::Dividend/ Distribution paid in Scrip/ Unit::Mandatory

2

Yes! please create! Thanks!

3

Hi Evan @evankoh

I created an event. I have made a mistake on the ex date which should be 25 Oct 23 for Kep Corp.
Can’t seem to amend after submission so would need you or an administrator to amend this.
Thanks!

4

Hi there,

Thank you very much for creating the bonus event.

I have approved it and also changed the ExDate to 25 Oct 2023 → StocksCafe

Thanks,
Evan

6

Hi,

Was trying to accept the recommendation but this came up:

Sorry, something went wrong. Please try again later.

If it persists, please file a bug report by sending an email to admin@stocks.cafe or via the internal messaging system if you are registered.

Thank you for using StocksCafe and help making it better.

Checked my transactions and it wasn’t found there.

Regards,
chris

7

Oh. Let me check and get back to you.

8

Done. I found the issue and fixed it. Please try again. Thanks!

9

It’s fixed now
Thanks evan!

1 Like
10

Hi @evankoh,

For this event, it has created the share but the share price indicated is 0. There is no sell and buy transaction on the Keppel share. This means that the dividend/distribution paid in scrip/unit will not computed in the P/L of Keppel share.

Please correct me if my understanding is incorrect.

11

Hi @WEESTOCK ,

Yes, you are right.

It would be better to price the bonus shares and then treat them as dividends which is used to buy the bonus shares so that we can account for this dividends as Keppel Share.

I typically like to use the close price of the ExDate as the valuation.

Any thoughts? @hjteo

Thanks,
Evan

12

Hi @evankoh ,
Yes For those who wanted , they / we can put the 7 Nov price of keppel reit at 0.167 cents as the price.

The number is from this announcement. https://links.sgx.com/FileOpen/GCAT_KCL%20Announcement-Notice%20of%20Record%20Date%20DIS.18102023.ashx?App=Announcement&FileID=775204

Open for suggestion of with regards to calculating the value.

For those who did the event already, we can still manually add in the value.

Cash Equivalent Amount of Special Dividend In Specie Distribution: As set out in the
Circular, to effect the Proposed Distribution as a special dividend in specie, the Company
will appropriate an amount out of the retained profits of the Company to meet the amount
of dividend to be declared.
The final appropriated amount is based on the market value of the KREIT Units on the date
the Proposed Distribution is completed (the “Completion Date”).
Based on the closing market price of S$0.835 per KREIT Unit on 6 November 2023, the
cash equivalent amount of the dividend declared by the Company is S$294,294,019.05,
equivalent to S$0.167 per Share

13

Thanks! They do not have to do it manually, I can override from my side.

I just wanted to check in with you since you are the one who created the event. If you are cool with this, I will proceed.

3 Likes
14

Hi @evankoh,

Thanks for bringing this up.

I am fine with the adding the price of keppel reit. I am thinking about the interpretation mean kreit should be 0.835 as the amount of declared should be equivalent to 0.167 per keppel Corp share.

If there is not objection, let take it as 0.835 per bonus kreit share.

15

Hi @hjteo

I am fine with the adding the price of keppel reit. I am thinking about the interpretation mean kreit should be 0.835 as the amount of declared should be equivalent to 0.167 per keppel Corp share.

Yes, I think this sounds good.

Will go with 0.167 “dividends” per Keppel Corp and price of Keppel REIT to be 0.835.

Cheers,
Evan

2 Likes
16

Hi @evankoh,

Once your override is done, will help to check and verify.

17

Hi @evankoh ,
I also added this 0.167 cents as dividends per keppel corp in the add dividend manual overide. Let me know if this is also fine.
Otherwise, please delete the manual dividend overide or let me know, I will delete the entry.

18

Yes, maybe after I fixed it (I target to do it today or tomorrow), you should delete the manual dividend override. Will update again. Thanks!

19

Hi @WEESTOCK and @hjteo

I have pushed the changes. Please help me check if they work as expected.

  1. You should see buy transaction of K71U at price = 0.835 and 0.2 of them for every 1 share of BN4

  2. You should see a dividend override of SGD 0.167

Thanks,
Evan

20

Hi @evankoh,

Thanks. I saw a buy transaction of K71U at price of $0.835 and see the dividend override for Keppel Corp.

1 Like
21

Hi,

For the bonus Keppel REIT shares, should i indicate it as “Paid in Scrip”? Noted that this is not the default in the event created. Thanks.