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提问人:网友shengsheng 发布时间:2022-01-07
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The following financial information relates to MFZ Co, a listed company:MFZ Co has 12 mill

The following financial information relates to MFZ Co, a listed company:

The following financial information relates to MFZ

MFZ Co has 12 million ordinary shares in issue and has not issued any new shares in the period under review. The company is financed entirely by equity, and is considering investing $9·2 million of new finance in order to expand existing business operations. This new finance could be either long-term debt finance or new equity via a rights issue. The rights issue price would be at a 20% discount to the current share price. Issue costs of $200,000 would have to be met from the cash raised, whether the new finance was equity or debt.

The annual report of MFZ Co states that the company has three financial objectives:

Objective 1: To achieve growth in profit before interest and tax of 4% per year

Objective 2: To achieve growth in earnings per share of 3·5% per year

Objective 3: To achieve total shareholder return of 5% per year

MFZ Co has a cost of equity of 12% per year.

Required:

(a) Analyse and discuss the extent to which MFZ Co has achieved each of its stated objectives. (7 marks)

(b) Calculate the total equity market value of MFZ Co for 2014 using the dividend growth model and briefly discuss why the dividend growth model value may differ from the current equity market value. (5 marks)

(c) Calculate the theoretical ex rights price per share for the proposed rights issue. (5 marks)

(d) Discuss the sources and characteristics of long-term debt finance which may be available to MFZ Co. (8 marks)

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更多“The following financial information relates to MFZ Co, a listed company:MFZ Co has 12 mill”相关的问题
第1题
Directions: Complete the following sentences by filling in the appropriate idioms. 2. I’ve lived in Berlin for 6 months, I’m not sure how much longer I’ll stay, I’m starting to_______________________.
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第2题
Questions 6 to 10 are based on the following passage:Researchers have established that w
Questions 6 to 10 are based on the following passage:

Researchers have established that when people are mentally engaged, biochemical changes occur in the brain that allow it to act more effectively in cognitive areas such as attention and memory. This is true regardless of age.

People will be alert and receptive if they are faced with information that gets them to think about things they are interested in. And someone with a history of doing more rather than less will go into old age more cognitively sound than someone who has not had an active mind.

Many experts are so convinced of the benefits of challenging the brain that they are putting the theory to work in their own lives. “The idea is not necessarily to learn to memorize enormous amounts of information,” says James Fozard, associate director of the National Institute on Again. “Most of us don't need that kindof skill. Such specific training is of less interest than being able to maintain mental alertness.” Fozard and others say they challenge their brains with different mental skill, both because they enjoy them and because they are sure that their range of activities will help the way their brains work.

Gene Cohen, acting director of the same institute, suggests that people in their old age should engage in mental and physical activities individually as well as in groups. Cohen says that we are frequently advised to keep physically active as we age, but older people need to keep mentally active as well. Those who do are more likely to maintain their intellectual abilities and to be generally happier and better adjusted. “The point is, you need to do both,” Cohen says. “Intellectual activity actually influences brain-cell health and size.”

6. People who are cognitively healthy are those _______.

A、who can remember large amounts of information

B、who are highly intelligent

C、whose minds are alert and receptive

D、who are good at recognizing different sounds

7. According to Fozards argument people can make their brains work more efficiently by _______.

A、constantly doing memory work

B、taking part in various mental activities

C、going through specific training

D、making frequent adjustments

8. The findings of James and other scientists in their work _________.

A、remain a theory to further proved

B、have been challenged by many other experts

C、have been generally accepted

D、are practiced by the researchers themselves

9. Older people are generally advised to ___________.

A、keep fit by going in for physical activities

B、keep mentally active by challenges through specific training

C、maintain mental alertness through specific training

D、maintain a balance between individual and group activities

10. What is the passage mainly about?

A、How biochemical changes occur in the human brain.

B、Why people should keep active not only physically but also mentally.

C、How intellectual activities influence brain-cell health

D、Why people should receive special mental training as they age.

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第3题

Questions下列各are based on the following passage. Rumors have swirled for years about the mystical phone, which FacebooK introduced at its headquarters today. For the financial sake of Facebook, its imperative that the new phone-- manufactured by HTC, carried by AT&T and sporting an Android operating system--sells well. Its the linchpin(关键) in the social-networking companys pursuit of mobile ads, The $ 99 phone goes on sale April l2. The phone/service features Home (facebook, corn/home), downloadable software that brings the Facebook experience to several Android devices: HTC One X, HTC One X +, Samsnng Galaxy SIII and Samsumg Galaxy Note II. At first blush, the new phone could find a receptive audience among the nnder-25 crowd, which is comfortable with having their mobile devices within reach at all times. Facebook chafes at suggestions that teens and twentysomethings are leaving the social network, so a phone immersed in news updates and other Facebook features might go over well. Facebook, the No. 2 mobile-ad publisher in the U. S. behind Google, last year accounted for 9. 5% of the $ 4. 1 billion mobile ad market. Its expected to take I3% of the $ 7. 3 billion market this year,estimates researcher eMarketer. A phone could "hard wire" the Facebook experience on a mobile device, increasing consumers time on the service, analysts say. But the experience has to be more than a branded device, they say. Branded phones from Barclays and Mary Kay did not fare well. "It cant be just about the hardware," says Phillip Redman, mobile analyst at Gartner. "It can do two things for success: Change the business model and give it away to its best users; or design it for low-cost or no-cost calls among Facebook friends. " Facebooks entry is one in a glut(供过于求) of recent smartphone contestants. New models from Samsung (Galaxy $4), HTC (One) and BlackBerry (the Q10 keyboarD. highlight a bumper spring crop.Apples rumored iPhone 5S or iPhone 6 lurks in the shadows, "The handset market is very competitive," says Clark Fredricksen, vice president at eMarketer. "Samsung, Apple and Android all are gaining market share, and boast computing platforms to feed into (the) mobile market. It remains to be seen if Facebook will gain popularity. " Facebook boasts 1 billion members, 30% of which are mobile-only users, according to market researcher ComScore. It was also the No. 1 mobile app in the U. S. in February in terms of engagement, accounting for 24% of all time spent on mobile apps--27%, ff you include Instagram. Why is the new phone so crucial to Facebook?

A.Because it helps make money.

B.Because it is essential to the companys goal of mobile ads.

C.Because it can help the company get out of the rumors about it.

D.Because it is introduced at the companys headquarters.

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第4题
In Customizing for Logistics Invoice Verification, the following values are defined for the stochastic block:

Threshold value - 10000

Percentage - 40

You enter an invoice with a value of7500.What is the probability that the invoice will be blocked stochastically? Please choose the correct answer.()

A.20%

B.30%

C.40%

D.5%

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第5题
In Customizing for Logistics Invoice Verification, the following values are defined for the stochastic block:

Threshold value-10000

Percentage-50

You enter an invoice with a value of 15000

What is the probability that the invoice will be blocked stochastically? Please choose the correct answer.()

A.100%

B.5%

C.50%

D.75%

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第6题
The appropriate section in the statement of cash flows for reporting the purchase of equipment for cash is:

A、Operating activities.

B、Financing activities.

C、Investing activities.

D、Schedule of noncash investing or financing activity.

E、None of these. This is not reported on the statement of cash flows.

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第7题
Directions:There are 20 blanks in the following passage. For each blank there are four choices marked A), B), C), D) on the right side of the paper. You should choose the ONE that best fits into the passage. Then mark the corresponding letter on Answer Sheet 2 with a single line through the centre.

Although Henry Ford's name is closely associated with the concept of mass production, he should receive equal credit for introducing labor practices as early as 1913 that would be considered67 even by today's standards.Safety 68 were improved, and the work day was 69 to eight hours, compared with the ten-or-twelve-hour day common at the time.In order to accommodate the shorter work day,the 70 factory was converted from two to three 71 .

72 , sick leaves as well as improved medical care for those injured 73 the job were instituted. The Ford Motor Company was one of the first factories to develop a 74 school to train specialized skilled laborers and an English language school for immigrants. Some 75 were even made to hire the handicapped and provide jobs for former convicts(服刑囚犯).

The most 76 acclaimed innovation was the five-dollar-a-day minimum wage that was 77in order to recruit and 78 the best mechanics and to 79 the growth of labor unions. Ford explained the new wage policy in 80 of efficiency and profit sharing. He also mentioned the fact that his employees would be able to purchase the automobiles that they produced-in effect 81 a market for the product. In order to quality for the minimum wage, an employee had to establish a decent home and 82 good personal habits,including sobriety,thriftiness,industriousness,and dependability.83 some criticism was directed at Ford for involving himself too much in the 84 lives of his employees, there can be no doubt that, at a time when immigrants were being taken 85 of in frightful ways, Henry Ford was helping many people to 86 themselves in America.

67.

A. advanced

B. appropriate

C. accessible

D. acute

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第8题
On account of phonological assimilation, the morpheme em-, rather than the allomorph en-, is needed to connect another morpheme body to form a word.
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