Aramex EFG LTFV update

[sharewadi]

Previous EFG Aramex report updated after issue of bonus shares. Full report download (pdf, 3 pages - nothing more except a graph and data table of forecast earnings and ratios).

EFG Hermes 26 April 2009:

Aramex - Adjusting LTFV for Bonus Shares Short-Term Rec.: Neutral Long-Term Rec. : Accumulate Current Price*: AED 0.99 LT Fair Value : AED 1.15 *Prices as at 23 April 2009 · Adjusting LTFV for Bonus Shares Issue: We adjust our LT Fair Value for Aramex (ARMX) to AED1.15 from AED1.26 to account for the 10% bonus shares issued and approved by shareholders at the company’s AGM held on 15 April. Aramex’s total outstanding shares are now 1,331 million, up from 1,210 million before bonus shares distribution. The stock traded ex-dividend on 23 April 2009 for the bonus issue. · Recommendations Unchanged: We reiterate our ST Neutral/LT Accumulate recommendations on the stock. We believe that a well entrenched regional presence, further market share gains and an impressive management team highlights the company’s strengths in the medium to long term. However, in the short term, we suspect trading will remain tough for Aramex given its dependence on the underlying state of the economy.

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UAE IPO list | posting guidelines

[limitup]

dear sharewadi ,

when does the bonus shares show in my porforlio? my aramex shares are still the same .

have you got any idea about this matter ?

[AUHanalyst]

The bonus shares will be credited to your account in the Stock Exchange. You have to fill a form (available in DFM website) and request transfer to your account with broker. If you fill-in the form and hand it over to your broker he should be able to get it done the same day.