Who Goofed up on the ex Bonus Pricing ! ? BSE or Westlife Developments ? ~ at Rs 153.90 it has got everyone excited as the Jatia Family will play out the McDonalds India Story through it
Nobody though is asking searching questions !?
It is traded on only BSE in the T Group .This allows only 2% daily movement either side to hit circuits ! ~It was Rs 86 ex bonus on December 7,2012 and then it becomes Rs 153.90 ex bonus yesterday ! within a few days !
Who goofed up BSE or the Company !
Company announced a 1:1 Bonus and declared record date as December 11,2012 subsequently changing it to a Book Closure Date
In first week December communications to BSE it never revealed that the Bonus was only for the Non Promoters Shareholders apparently to bring down the Jatia Group holding from 85% + to 75% as is required by a listed company ~ and believe me it’s no sacrifice ! ~ so the ex bonus price was adjusted to Rs 86 on 7/12/2012 ~ Company then issues this clarification and so the Price returns to Rs 150+ ex bonus,the same as it was cum bonus !
An Economic Times Coverage gave it a huge thumbs up today ~ without checking out some tricky questions like what will be the final Equity of this Company when it consolidates and makes Hardcastle Restaurants a direct Subsidiary
Hardcastle Restaurants is the Jatia Group Celebrity being the McDonald Franchisee for West and South India
Will Westlife Development move up from Rs 150+ ? Of Course it will….but searching questions throw up Corporate Governance,Lack of Transperancy,Miscommunication and Non Disclosure Issues