Stock News Summary: CL Fertilizers Holdings LLC (CLF)

James Blair

CL Fertilizers Holdings LLC (CLF) spotted trading -23.21% off 52-week high price. On the other end, the stock has been noted 35.95% away from the low price over the last 52-weeks. The stock changed -1.85% to recent value of $10.06. The stock transacted 7620695 shares during most recent day however it has an average volume of 9623.17K shares. The company has 288.19M of outstanding shares and 279.01M shares were floated in the market.  

On June 24, 2019, CL Fertilizers Holdings LLC (CLF) announced that since the date of its last report filed on February 28, 2018, it has acquired an aggregate of 3,171,852 shares (the Acquired Shares) of Itafos (TSXV:IFOS), as follows: (i) 527,072 shares in connection with the close of a US$165 million secured term credit facility between Itafos and a syndicate of lenders (including CLF) (the Bonus Shares); (ii) 1,791,780 shares (the Private Agreement Shares) through private purchase and sale transactions; and (iii) 853,000 shares (the Normal Course Purchased Shares).

The Private Agreement Shares were acquired by way of private purchase and sale transactions in reliance on the takeover bid exemption set forth in section 4.2 of National Instrument 62-104 – Takeover Bids and Issuer Bids (NI 62-104). The Normal Course Purchased Shares were acquired on the TSX Venture Exchange (the TSXV) in reliance on the takeover bid exemption set forth in section 4.1 of NI 62-104. The acquisition of the Bonus Shares occurred on a private placement basis.

The Normal Course Purchased Shares were acquired at CAD$0.56 per share. The Private Agreement Shares were acquired at CAD$0.75 perhare. The Bonus Shares were issued at a deemed price of CAD$2.41 per share.

Immediately prior to the acquisition of the Normal Course Purchased Shares, CLF had direct or indirect ownership of or control over 83,771,844 shares of Itafos, representing approximately 59.6% of the issued and outstanding shares of Itafos (on an undiluted basis) (as reported in Itafos’ management’s discussion and analysis May 16, 2019).

Following the acquisition of the Normal Course Purchased Shares, CLF has direct or indirect beneficial ownership of or control over 84,624,844 shares of Itafos, representing approximately 60.2% of the issued and outstanding shares of Itafos (on an undiluted basis) (as reported in Itafos’ management’s discussion and analysis dated May 16, 2019).

The Acquired Shares are being acquired for investment purposes. However, CLF may take actions in the future in respect of its holdings in Itafos based on the then existing facts and circumstances, which actions could include, without limitation, acquisitions or dispositions of shares, whether in the open market, by privately negotiated agreement or otherwise, or in connection with a strategic transaction with Itafos. Its earnings per share (EPS) expected to touch remained 174.80% for this year while earning per share for the next 5-years is expected to reach at -2.74%. CLF has a gross margin of 33.80% and an operating margin of 27.50% while its profit margin remained 51.50% for the last 12 months. 

 According to the most recent quarter its current ratio was 2.9 that represents company’s ability to meet its current financial obligations. The price moved ahead of 5.69% from the mean of 20 days, 3.32% from mean of 50 days SMA and performed -0.43% from mean of 200 days price. Company’s performance for the week was 4.68%, 6.23% for month and YTD performance remained 30.82%.

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