Soup Restaurant: Gain of $7.7m.

On 14 June, Soup Restaurant confirmed the sale of its stake in YES F&B Group Pte Ltd. The consideration is S$7.9m which represents an excess of some S$7.7m over the cost of investment of the Group at the end of FY2011.

The net tangible assets (NTA) per share and consolidated earnings per share (EPS) of Soup Restaurant will be positively impacted in the current FY2012. The former would see an increase of 1.18c per share while the latter would see an increase of 1.05c per share.

The completion of such a sale is not going to happen immediately. It is going to take some time but the rising OBV seems to be telling us that smart money is accumulating shares of Soup Restaurant even as its share price suffers from some weakness in recent sessions.

I bought some shares recently at 12.3c. If I do not make money from this investment, at least I would get a 15% discount when I dine at Soup Restaurant outlets in future as a shareholder. ;p

See announcement: here.

Related post:
Soup Restaurant: Special dividend?