Tee International

Tee International - Latest news is a reminder by the Co. that its Warrants would expire at 5.00 pm on 28th Feb 2013. Note that Warrants exercise price is currently Deep In The money at $0.16. Recall in Dec, Tee international announced plans to spin off its real estate business and list it separately on SGX, as its aim is to unlock the value of its property business and not to cash out of a valuable source of future earnings for the group. TEE plans to pay out part of the proceeds from the proposed spin-off as a special dividend and use the rest to fund its expansion into new ventures such as the cement business that it is exploring in Myanmar. The real estate business accounted for 55.7% ($134.7m) of the group’s total assets at end-FY2012 (31 May).