CDC Corp. zurück zu alter Stärke ?
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Everything is moving efficiently and rather quickly.
More procedural filings today that solidify dates and processes. Here is a recap of the dates.
March 1, 2012 – Deadline for Disclosure Statement and Plan of Reorganization
March 9, 2012 – Deadline for any Overbids for Software
March 12, 2012 – Special shareholder meeting for Software where CDC will reconstitute the Software board of directors with their slate who will cease all activities contrary to CDC’s plans.
March 16, 2012 – If an Overbid is received by March 9, 2012, an auction will occur.
March 20, 2012 – Hearing to approve the sale of Software to either the Stalking Horse or a higher bidder.
March 20, 2012 – Hearing to approve the for Disclosure Statement
April 26, 2012 – Hearing to consider confirmation of the Plan of Reorganization.
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Spielt das steuerlich in irgendeiner Form eine Rolle ???
PS: Hoff weiterhin auf Kurse um10 Euro meinen Exit :-)
Chapter 7 Enterprise Value under Plan
Note Liquidation Value Low High
Sources 1 Cash $171,994,521.18 $171,994,521.18 $171,994,521.18
2 Global Services $6,374,878.00 $8,274,878.00 $11,874,878.00
3 China.com $21,800,000.00 $29,700,000.00 $36,500,000.00
3 Menue, Inc. $3,300,000.00 $5,000,000.00 $10,000,000.00
3 CDC Games $1,200,000.00 $2,000,000.00 $5,000,000.00
Total Sources $204,669,399.18 $216,969,399.18 $235,369,399.18
Uses 4 Professional Fees ($4,659,857.15) ($4,659,857.15) ($4,659,857.15)
5 Advisor Fees – Moelis ($545,000.00) ($1,042,500.00) ($1,884,379.95)
5 Advisor Fees-Morgan
Joseph
($3,686,779.59) ($4,525,647.57) ($5,393,742.80)
6 Transition Services ($1,154,631.42) ($1,154,631.42) ($1,154,631.42)
7 Bonuses/Severance ($1,117,507.00) ($1,117,507.00) ($1,117,507.00)
8 SAR/Options ($510,000.00) ($510,000.00) ($510,000.00)
9 Payroll ($418,258.33) ($418,258.33) ($418,258.33)
10 U.S. Trustee Fees ($101,125.00) ($111,125.00) ($111,125.00)
11 Claims ($2,916,921.27) ($2,916,921.27) ($2,916,921.27)
Total Uses ($15,110,079.76) ($16,456,447.74) ($18,166,422.92)
Equity Recovery 12 $189,559,319.42 $200,512,951.44 $217,202,976.26
Option
Consideration
13
$5,926,594.00 $5,926,594.00 $5,926,594.00
Total Distribution 14 $195,485,913.42 $206,439,545.44 $223,129,570.26
15 Number of Common
Shares at Petition Date
35,634,820 35,634,820 35,634,820
16 Restricted Stock
Awards
1,152,270 1,152,270 1,152,270
Total Shares Including
Restricted Stock
Awards
36,787,090 36,787,090 36,787,090
17 Outstanding Options
under $5.25
2,217,534 2,217,534 2,217,534
Fully Diluted Shares 39,004,624 39,004,624 39,004,624
Chapter 7 Enterprise Value
Liquidation Value Low High
Per Share
Distribution
(assuming fully
diluted shares &
no disallowed or
subordinated
options/RSA)
[Total
Distrib./
Fully
Diluted
Shares]
$5.01 $5.29 $5.72
Per Share
Distribution
(assuming only
common shares
and all options/
RSA disallowed or
subordinated)
[Equity
Recovery/
No. of
Common
Shares at
Petition
Date]
$5.32 $5.63 $6.10
Im Besten Fall 6,10 Dollar je Aktie.
Die Frage nur : WANN ???
Also entweder jetzt verkaufen - oder warten, bis das CASH ausreicht - und
dann ausgezahlt zu werden - evtl. auch erst in 2013 !!!
Ich beobachte mal weiter was passiert - aber meine avisieten 10 Euro je Aktie
werden es wohl leider nicht werden..............Schade !
hier zu Preis ab, die weit unter parri Kurs US liegen.
Hier freuen sich einige weitere und sammeln schön und mit aller Ruhe
die billigen Shares wieder ein.
Jeden Tag das gleiche. Eigentlich müsste der Kurs bei 4,06 Euro liegen , und
nicht bei 3,85 Euro !
CDC Bankruptcy Plan to Give Holders as Much as $6.10 a Share
By Bill Rochelle - Sep 7, 2012 6:00 AM GMT+0200
CDC Corp. (CDCAQ), a China-based enterprise software developer also known as Chinadotcom, won a judge’s approval of a bankruptcy reorganization plan where shareholders will get as much as $6.10 a share.
The shares yesterday rose as much as 21 percent to $6 as of 3:52 p.m. New York time after opening at $4.95. Shares closed at $5.44, up 49 cents.
The cash for equity holders resulted from CDC’s sale of its 87 percent interest in CDC Software Corp. for $249.8 million to Archipelago Holding, an affiliate of Vista Equity Holdings. After paying a $65 million secured judgment claim and other costs, CDC was left with a net of $172.8 million when the sale was completed in April.
Unsecured creditors with $2.9 million in claims were paid in full and thus didn’t vote on the plan.
Shareholders should expect to receive at least $5.01 a share, according to the disclosure statement explaining the plan. The stock price has ranged in the last three years from $9.57 in April 2010 to 78 cents in December 2011.
CDC’s petition listed assets at $377.4 million and debt of $250.2 million. For the first half of 2011, revenue of $158.9 million resulted in a $17.8 million operating loss and a $23.9 million net loss.
The case is In re CDC Corp., 11-79079, U.S. Bankruptcy Court, Northern District of Georgia (Atlanta).
To contact the reporter on this story: Bill Rochelle in New York at wrochelle@bloomberg.net
To contact the editor responsible for this story: John Pickering at jpickering@bloomberg.net
1-2-3 Jahre deutliche Kurssteigerungen verspreche. ( = Long-Investment)
Kann mir durchaus vorstellen - das beide Aktien sich in diesem Zeitraum ver-10fachen können.........!! ( meine Meinung)
1. Netsol Technologies Inc.
2. DANG DANG E-Commerce ( die Amazon China´s !! )
Ich bin von beiden Aktien sehr überzeugt , das diese eine tolle Performence die nächsten Wochen/Monate hinlegen werden....!
GoldenStock