YTL Corp-Pushy and Cheeky

So, what do you know?

It wanted to reward its shareholders. So, it gave RM20.00 for 1000 shares as  dividend and 1 dividend share in specie  for every 15 shares held. To top it, it gave an nice icing equivalent of YTL Power warrants of 1 warrant for every 15 YTL Corp shares held; at a steep discount of a honest-to-goodness 20 sen when YTL Power warrants is currently trading about 52 sen

At the same time, while the Treasury shares are not distributed, it continued amassing some more Treasury shares.

Yesterday it was still in the 8% region and perhaps has another less than 2% before it hits the target allowable 10% before the next AGM.

So the price went up to RM1.12 after a slight dip below RM1.90 went it went ex-dividend.

So, as I wrote in an earlier posting, minority shareholders are praising Francis as a benevolent demigod of sorts. A person who bought 1000 shares at RM1.96 before it went ex-dividend has now got his share dividend in specie, his 2 sen dividend for every 10 sen share, his YTL Power warrants at a cheap 20 sen and now a capital gain as well of  16 sen.

Expect more action on YTLPower as their Yes 4G broadband wifi roll-out gathers traction; and once its capital outlay is returned, it may blast off with the power and water utilities leading the revenue chase.

Nature of engagement: Do not sell any YTL Corp shares for I believe Francis is brewing something  "sweeter than honey", as deftly as he can with that RM14 billion cash hoard of his.