Kubera Cross-Border Fund Ltd. (KUBC)

Sector:

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$ 0.05
   
  • Change Today:
    $0.00
  • 52 Week High: $0.3
  • 52 Week Low: $0.0
  • Currency: US Dollars
  • Shares Issued: 109.73m
  • Volume: 0
  • Market Cap: $5.90m
  • RiskGrade: 341
  • Beta: 0.00

Kubera Cross-Border offloads stake in Synergies Casting

By Josh White

Date: Friday 11 Aug 2017

LONDON (ShareCast) - (ShareCast News) - Kubera Cross-Border Fund announced on Friday that its subsidiary, Kubera Cross-Border Fund Mauritius, has entered into a binding agreement as of 8 August to dispose of its entire equity and debt interest in Synergies Casting.
The AIM-traded firm said a private buyer, Jamy, agreed to purchase the company's interest in Synergies Casting for a consideration - net of transaction costs - of $14.58m, in four tranches over 18 months.

It said there were incentives in place for a faster completion, and if the transaction was completed within 12 months, there was a provision for the aggregate consideration to be reduced by up to $1.82m.

"The estimated sale consideration based on USD 14.58 million is for the Company's interest only," the board explained in its statement.

"The total sale consideration - including the 8.8% co-investment by the former investment manager - is $16m."

That would be equivalent to 35.4% of the net asset value presented in the audited financial statements as at 31 December 2016, which were inclusive of the co-investment by the former investment manager.

As at 31 December 2016, the carrying value of the investment for the company was $13.96m, to reflect the time value of money, lack of liquidity and credit risks.

"Should the buyer default on any of the tranche payments, the company, through its subsidiary, will continue to hold its remaining pro rata equity and debt interests and various shareholder rights, and the buyer will be subject to a $0.91m penalty," the board said.

Pursuant to the agreement, the first tranche had been divested and consideration of $2.55m had already been received.

In accordance with the company's investment policy, the board said it intended to distribute to shareholders all cash not required to meet operating costs, and will make further announcements on that in due course.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

KUBC Market Data

Currency US Dollars
Share Price $ 0.05
Change Today $ 0.00
% Change 0.00 %
52 Week High $0.3
52 Week Low $0.0
Volume 0
Shares Issued 109.73m
Market Cap $5.90m
Beta 0.00
RiskGrade 341

KUBC Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
Market averageMarket averageMarket averageMarket averageMarket average
81.71% above the sector average81.71% above the sector average81.71% above the sector average81.71% above the sector average81.71% above the sector average
Price Trend
50.65% below the market average50.65% below the market average50.65% below the market average50.65% below the market average50.65% below the market average
99.47% below the sector average99.47% below the sector average99.47% below the sector average99.47% below the sector average99.47% below the sector average
Income Not Available
Growth
Market averageMarket averageMarket averageMarket averageMarket average
57.65% above the sector average57.65% above the sector average57.65% above the sector average57.65% above the sector average57.65% above the sector average

KUBC Dividends

  Latest Previous
  Special Special
Ex-Div 04-Jul-19 18-Oct-18
Paid 19-Jul-19 02-Nov-18
Amount 18.00¢ 5.00¢

Trades for --2019

Time Volume / Share Price
0 @ $0.00

KUBC Key Personnel

Chair Martin Michael Adams

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