Samko: Recently, stock may be seeing some interest following its plans to acquire a bio-tech co, which is in the business of producing tree seedlings for the plantation industry, and is able to genetically duplicate elite tree candidates. The Prosposed Acquisition, if completed, will assist Samko to move upstream into tree planting, and help transform the Company into a fully integrated timber product player...
The Target co will be purchased from Temasek Hldgs, for consideration of $7.4m. In exchange, Samko will issue 54.2m Samko shares (~4.2% of shares out) to Temasek at $0.1362/sh.
The volatility of this counter suggests that this is not for the faint hearted.
Note also that one of the major sh/h, who is also related to mgt, made small open mkt sales in the last wk of May...
Stock has negative earnings for the past 3 financial yrs, and only made a small profit in the most recent quarter.
Samko trades at 4x on a P/B basis.
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