Con Aero Tech (232 HK): Q&A With The FA

• Back on the 5th June, SOE-backed Continental Aerospace Technologies (232 HK)‘s entered into an SPA to sell its core business, potentially leading to a substantial cash distribution.

• The SPA requires reg approvals and a Scheme-like vote. 46.4% of the register is supportive. Separately, additional dividends are expected from the sale of property. And possibly cash on hand.

• I had a number of questions concerning the transaction - as did many readers. This afternoon I pinned down a one-on-one with the FA to the Purchaser.

This insight specifically discusses the Q&A with the FA. The Q&A transcript below is not verbatim.

I’ve also liaised with the FA to CAT and waiting on a possible one-on-one call.

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The Trade:

• Clean deal.

• Buy here or below, assuming the low-end dividend payment in Oct/Nov (my estimate).

• There will be additional dividends from the property sale and winding up; but they are separate to the SPA dividends, and timing is less assured.