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Kent Financial Services Inc. Message Board

  • smaycs4 smaycs4 Dec 26, 2012 3:20 PM Flag

    Going private at $1.75


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    • Got a link?

      • 1 Reply to ttullio3
      • Yahoo wont accept links. I could give one but the post will be deleted.

        Only spammers can post links. Not real people !


        Everyone except the 60% holder will be cashed out at $1.75 in Jan/Feb it appears.

        It seems somewhat fair although a case could be made for 20-41 cents more.

        At issue is the value of their property, which ranges from $4.4 million to $5.5. Using the higher figure, they use an 9% discount rate with no justification that I noticed. (But it knocks 20% off the higher value) The 8% cap rate includes a discount so I dont think a doubling is appropriate.

        So,I think dissenters could get an extra 41 cents per share (+interest) more if they decide to fight for it. And I may.

        Q: What will I receive upon the Company “going private?”

        A: In lieu of receiving fractional shares of new common stock for your existing shares of common stock, you will receive $1.75 per share for each share of common stock you hold at the Effective Time of the “reverse stock split,” unless you properly exercised your appraisal rights for those shares.


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