Brothers Holdings and Oakwell: Brothers Hldgs has sold its entire 16.3% stake in Oakwell in a married deal. Brothers to lift trading halt at 9am this morning. Shares sold at $0.09 for $9.8m in total, disposal to focus resources on its real estate business in the PRC. Funds to be re-deployed towards working capital with exceptional gain of $3.3m…
NTA/sh to increase to 24.4cts from 23.3cts, while EPS will rise to 2.99cts from 1.89 cts, based on FYMar10 numbers. Brothers trades at P/B of 0.72x at current $0.18. Note, deal was done on Friday which was the married deal observed in Oakwell’s trade flow; counter closed at $0.085.
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