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Nagacorp Terminates 2021 Share Award Scheme
NAGACORP (03918.HK): Share awards become ineffective and terminate the share award plan.
On December 27, Gelonghui reported that NAGACORP (03918.HK) announced that, after further review, the Board of Directors decided that due to changes in the group's situation, and since a long time has passed since the initial grant was proposed by the Board of Directors and approved by the Shareholders, it is no longer appropriate to proceed with the initial grant. Therefore, the total of up to 10,226,667 shares of reward stock for the initial related grant and up to 9,000,000 shares of reward stock for the initial non-related grant will become invalid according to the share reward plan, and the company will not proceed with the initial grant. The Board of Directors also resolved that the share reward plan no longer meets the company's goals and will be terminated immediately.
Morgan Stanley: Maintains NAGACORP 'in line with the market' rating, target price lowered to HKD 2.75.
Morgan Stanley released a research report stating that due to the weak growth outlook for NAGACORP (03918) and the unresolved impact of impairment in its Russian business, EBITDA for the fourth quarter and second half of this year is expected to decline by 9% year-on-year, reaching $7.3 million and $0.138 billion respectively, maintaining a "market perform" rating. The Target Price has been revised down from the original HKD 3.25 to HKD 2.75. Morgan Stanley indicated a reduction of 42% and 24% in NAGACORP's EBITDA forecasts for this year and next year, respectively, to $0.193 billion and $0.302 billion, accounting for one-time expenses impact in the second quarter, with the current forecast being lower than market consensus.
[Brokerage Focus] Morgan Stanley cuts NAGACORP (03918) Target Price by 15.38%, citing weak growth prospects.
According to a research report released by Morgan Stanley, predictions indicate that due to NAGACORP's (03918) weak growth prospects and the unresolved impairment of its Russian operations, EBITDA for the fourth quarter and the second half of the year will fall by 9% year-on-year, reaching 73 million USD and 0.138 billion USD, respectively, maintaining a "market perform" rating. Morgan Stanley has also revised down its EBITDA forecasts for the next two years by 42% and 24%, to 0.193 billion and 0.302 billion USD, factoring in the impact of one-time expenses in the second quarter, with the current predictions being about 8% to 9% lower than the market's general expectations. Accordingly, the bank also adjusted NAGACORP's target.
NagaCorp: Hold Rating Amid Cautious Optimism and Persistent Challenges
Is NagaCorp Ltd. (HKG:3918) Trading At A 21% Discount?
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