A Multi-bagger if ever there was one!!! once this hits the papers, see it double.. treble...see announcement

Quote from AGM statement:

I present to the meeting a Pro forma Balance Sheet and from this you will see
that our net assets are in excess of 350m. We have approximately 155 million
shares in issue, which equates to 225p per share. Our deposits are earning
interest at 7.5% per annum, equivalent to 25m per annum. At the closing mid
market price on the London Stock Exchange of 62.5p on Friday 22nd July 2005, our
market capitalisation was 97million.

Could be interesting - up 8% but should be the highest riser 50% by lunch?

Don't buy it unless you're prepared for a bumpy ride but expect this to be the biggest gainer of the week. 225p cash per share!!

i suppose it could get to about 1.70p, companies rarely reach there nav price
but like you said it looks a bargain,

true, but these cash shell co's can go astronomical depending on the investment and the financing, it may get reversed into!

This share is currently trading at a quarter!! of the value of cash it has. People must think it's too good to be true, it's the staringly obvious money for nothing investment opp that they'll regret not taking. I am topping up again.

Not too keen on the spread but good BETA of 1.44 so I have dipped my toes

Sorry Oakapples, what does BETA stand for - something trading average? Someone was tipping this to go to 3 last week, the current sp seems ridiculously undervalued and totally overlooked and so far i'm not aware that it's been noticed by the penny share mags or papers. It's not a liquid stock so will be very volatile, one press article could double it overnight i'm sure. The directors must think so too by their rcent announcement.

Hi Robstuff - BETA - Measures the extent to which a share can, on past performance, be expected to perform in line with market movements - in the case the FTSE 100.
A BETA greater than one means that it is expected to go up faster than the index.
You can find BETA for a stock by clicking on EPIC and then Company Summary or Fundementals -

Whilst we are talking about stock market knowledge may I ask a question?
On the 26th July Robstuff said Don't buy it unless you're prepared for a bumpy ride
He was of course right.to date.
My question is, how did you know this?
Also, before the last rise of CCO how did you know the stock was due to rise?
I know this may sound simple to some of you but I am fairly new to this game.
I hope someone can help me!

Phil.

Philip3
It all kicked off about the beginning of june when all this money was announced but held in a brazilian bank!
Lots and lots of speculation to whether they could actually get their hands on supposidly their money and free it up for investments worldwide.
This is all becoming a bit clearer in recent news,think they have to invest some of it in Brazil before it is released.........If all goes to plan then lots of money to be made from this one..still lots of if's and but's though.
A very speculative punt,held for one month but lost me nerve(would be in profit now,grrrrrrr)-lol
Try looking over on advfn (sorry Money am) but be very carefull.
Just my opinion,due to no-body else answering your question

Thank's for that Oakapples. Philip3, banjomick has summed it up well. The reason I said this sp would fly is quite simple, they have cash worth 225p per share and the sp is currently less than a pound. The reason shares never go up in a straight line is that invariably there are ifs and buts and some may take profits, some may feel it's too good to be true and then you have mms manipulating prices to get hold of stock etc. I think we should see 1+ again by end of week or maybe 1.50 it just depends on how nervous investors are. As ever DYOR and don't invest anything you can't afford to lose - good luck.

or maybe today!

All going very nicely this morning until a flood of profit takers. IMO this one will still finish over 10% up on the day. I note at the AGM there is to be a company name change to LANGBAR INTERNATIONAL LTD. Dont know when or why. Any views or news? I am still researching and may yet dip my toe in further following a smallish punt yesterday.

Thank you very much for your help banjomick and Robstuff much appreciated.

Further to post 15 - seems that Crown bought Langbar Capital which was owned by Crowns newly appointed CEO Stuart Pearson and his family, and Crown is to become known as Langbar International (very Interesting!!) I have sent them an e-mail asking for date of change. It will be most interesting to see what transpires with negotiations with Brazilian bankers as some of the investment opportunities they are recommending within Brazil appear lucrative. Rather too many profit takers today, and you cant blame them, but IMHO this may only be a short but very profitable ride

72/77, but trades at 74p are buys ( one is mine )

What's the cash doing in Brazil and is it likley to be re-patriated. What's the story here?

have a look at the thread on adv fn for the info Scrip

Looking ridiculously cheap again!! time to top up- wish i had spare cash, could go to 2 overnight.

superrod, That's one hell of a thread!

Any quick appraisal would be much appreciated.

dont know about the rest of you guys, but im not convinced ( especially after that savage mark down ), that all is as rosy as it looks.
i had been quoted 73.3 to sell most of the day.

Scrip,
the main thrust is that CC has cash worth 3 to 4 times the shareprice in brazil and they are in the process of transferring it to europe.
there are some who are saying they have ASSETS of 240p a share, which would appear to not be the case from the recent announcement ( thank God ). companies with assets can realistically write of 75% if they ever need to sell them. we are talking about HARD CASH here.
i live in hope.

This is where some of Crown's cash is going.

EDIT: On reading all the recent RNS, it appears that CCO's Brazilian deposits are NOT being used for this JV, which will instead be funded by new money to be raised by CCO's recently acquired subsidiary from its new Chairman/CEO Sturart Pearson, Langbar Capital International. So the JV has no cash currently.

MOS International plc

Joint Venture Agreement

MOS International plc, ("MOS"), the oilfield services business, announces the
signing of Heads of Terms for a joint venture to be entered into with Crown
Corporation Limited ("Crown"). Crown is an AIM listed investment company.

International Drilling Corporation ('IDC'), the joint venture company, in which
MOS and Crown will each have a 50% interest, will commission the building of oil
rigs and major capital projects connected with the drilling and exploration
industry.

There is a strong demand for new oil rigs and this is expected to remain high
for the foreseeable future. IDC will not be commissioning the building of any
major structure without pre-signed leasing or purchase agreements.

Crown is to raise the project finance for IDC whilst MOS will provide project
management and industry expertise.

As part of the arrangements, Philip Wood, Chairman of MOS, who recently joined
the Crown Board as a non-executive director, will take specific responsibility
for driving this new initiative.

Philip Wood, Chairman, MOS International commented:

"This new venture is complementary to our existing business and means we will be
able to utilise the product knowledge MOS possesses. Crown can provide the
financial backing, and combined with our in-house expertise and worldwide
contacts I believe that we can develop a substantial business that will provide
good returns to both parties".


22nd June 2004

Philip Wood was until recently also Chairman of Emerald Energy with big oil interests in Colombia. Not so far from Brazil - and he's a shrewd operator. So it wouold appear that Crown's cash is genuine, although we do not know how much is being committed to MOI.

MOI's SP has been languishing sub-1p for a while now in spite of a well-orchestrated overhaul of the company by PW. Given the oil boom, MOI is a punt on the "shovels-not-gold" type of investment philosphy to which I am a subscriber.

sd

How cheap ?

Sunday Telepgraph
7th August 2005


Edward Simpkins investigates how an Aim-listed company discovered $660m in a Brazilian bank account - and its connection with Lambert Financial, a nominee for 2,000 Israeli emigrpensioners

It is not often that a chief executive discovers hundreds of millions of dollars sitting in a company bank account. But that was the nice surprise that greeted Stuart Pearson, the CEO of Crown Corporation, and his boardroom colleague Philip Wood when they flew to Brazil in June.

At the offices of Banco do Brasil in Sao Paolo, they were given confirmation that the business they had both joined only recently was US$659.6m (371m) in credit.

The bank provided a written statement that the funds existed and were available for Crown Corporation to withdraw - although the cash is supposed to stay in Brazil or Argentina, under local currency control restrictions.

Exactly how Crown, which has few other assets, came by that money is an intriguing tale about one of the strangest companies listed on London's Aim market.

A fortnight ago, Pearson - a jovial Yorkshireman who retired last year as a partner at Baker Tilly, the accountants - spelled out at Crown's annual meeting in Monaco just how undervalued the company's shares appear to be.

At the meeting he presented a balance sheet for Crown that claimed net assets in excess of 350m - including cash deposits of 360m. As Pearson pointed out, shares in the company, which closed on Friday at 68.5p, down from 875p in December 2003, appear to be a massive bargain.

"We have approximately 155m shares in issue, which equates to 225p per share," he said, adding that at the then price of 62.5p the company was worth just 97m, less than a third of the value of its cash deposits.

And before the money showed up at Banco do Brasil at the end of May, the shares were trading at just 11.5p.

However, investors can probably be forgiven for being cautious about this business, which says that its domicile and headquarters are in Bermuda. Since it was listed in the UK two years ago as a shell company dedicated to making acquisitions, it has failed to make a single investment of any substance. But huge amounts of cash have moved through the company's accounts.

"It is not a money laundering operation, I'm fairly sure of that," says Pearson. "But it is certainly very bizarre, there's no denying it."

When Crown announced, on October 30 2003, that it was to list it described itself as the brainchild of Mariusz Rybak, who was then the executive chairman of Crown, and Wolfgang Menzel, then the chief executive. The pair had raised 150m, allegedly from European institutions, in order to invest in and manage undervalued public companies "primarily in the Canadian and US marketplaces".

But just a few days later, on November 10 2003, they announced an extraordinary deal that seemed to have little to do with those intentions. The company said it had signed construction and civil engineering contracts worth $633m to build houses and install waste management and water treatment infrastructure in Buenos Aires, the Argentine capital.

At the time the company said the deal was in line with its strategy because it intended that the contracts should be fulfilled "largely by companies in which Crown plans to take substantial equity interests".

Rybak explains there was a "deeper strategy" behind winning the contracts. "There were a couple of publicly listed Canadian construction companies with highly depressed market capitalisations," he says. "The idea was to acquire the contracts and then acquire the companies. We had several discussions with our advisers about it."

However, he says that news of their interest leaked into the Canadian market and that the value of the target companies leaped by around 25 per cent. "We didn't want to chase companies that were already aware of our interest," Rybak adds.

So how did this cash shell, which was looking for opportunities in the US and Canada, win a huge contract to build 14,000 houses, nine industrial parks, two commercial centres, three complexes of municipal buildings and two hospitals in Argentina?

The answer was in a note to the announcement. "Lambert Financial Investments Limited, acting as a strategic adviser to Crown, has been instrumental in opening the Latin American market and securing the contracts for Crown," it said.

Pearson elucidates: "Lambert has very good contacts with the Argentine government and it tipped them off. They were effectively PFI contracts [or business linked to the government]."

Lambert wasn't just any old adviser. It was also the biggest shareholder in Crown, with a 59.14 per cent stake (as of June 2004). When Crown listed it had issued 41.4m shares to Lambert in exchange for a certificate of deposit issued by the Banco do Brasil to the value of $275m.

However, other than winning the Argentine contract the company did little during the months that followed.

It set up a subsidiary called Crown Oil Corporation, which, it said, had agreed non-binding heads of agreement to acquire, for 235m (164m), the right to build a natural resources transhipment terminal and a gas pipeline in Russia. Barry Townsley, the chairman of Insinger Townsley, Crown's broker, was to join as deputy chairman of the subsidiary.

Rybak says that it was the restrictions on removing currency from Brazil that made it difficult to invest as widely as it had hoped. "If we had borrowed against the cash deposits it would have been at such a discount that it limited what we could do," he says.

Then something unusual happened. In June 2004, just when the Buenos Aires construction contracts were due to commence, Crown announced that it had sold them on for $350m. Later that month Rybak explained that the plan was to reinvest that cash into the Russian oil and gas projects.

And who was the buyer of the Buenos Aires construction contract? None other than Lambert Financial Investments, Crown's adviser and majority owner, which had helped it acquire the contracts in the first place.

Lambert paid with a $350m promissory note issued by the Banco do Brasil. As the company noted at the time, "the gross profit to Crown is equivalent to the consideration". Or to put it another way, in just seven months Crown had made a profit of $350m by winning the contracts with the help of Lambert and then selling them back to Lambert.

The other strange thing is that the contracts - $633m for one and $75m for a separate security contract - were sold for around half their combined value of $708m. That implies a profit margin of 50 per cent, which is extremely high for the construction industry.

Pearson explains: "What I understand is that Rybak thought he would be able to find a construction partner, but in the event he failed to do so. Lambert agreed to find a new buyer for the contracts but on the condition that it would have a year before it paid for them to try and sell them on.

"I don't think anyone believed they would be moved on in time and that the promissory note would be met," Pearson says. But the note has in fact been redeemed - which is the reason all that cash is sitting in the Sao Paolo account.

Pearson asks a challenging question: "Was it a proper contract or was it some kind of money laundering exercise?" He is convinced it's all above board.

"What were they laundering? The money certainly wasn't criminal in origin and if they were trying to get the money out why did they put it into the Banco do Brasil? It didn't have any advantage, it was a nightmare for them really," he says.

Rybak admits that he was concerned the transaction was unusual enough to raise suspicions of money laundering. "This was an issue for us and we worried that banks would be uncomfortable with that," he says.

But he says there was no financial benefit to Lambert from the original award of the contracts. "Lambert was not involved in the contracts directly," Rybak says.

So just who is Lambert Financial? According to Pearson, Lambert is a nominee for around 2,000 Jewish pensioners who are mostly settled in South America. "It is a fund manager for a lot of ex-Israelis who've come to South America. It is based in Barcelona," he says. Rybak adds that he carried out substantial due diligence into Lambert and was perfectly satisfied with what he found.

As for Rybak, he resigned as a director of Crown on June 6 this year, the day Pearson was appointed. Pearson says he was approached by Rybak himself earlier this year - and that he was originally asked simply to provide advice on how to restore confidence in the company.

Since taking over, Pearson has promised to redouble efforts to find something to spend all that money on and he will increase the focus on UK opportunities.

"The main mission now is to get this cash out of South America through asset swaps," Pearson says. "We are looking at assets in Portugal now - a lot of land, casinos, hotels, and a golf course near Lisbon."

However, the Banco do Brasil is majority state-owned and is keen to see as much of the deposit as possible reinvested in Brazil. "It is a large dollar deposit and it is pretty clear the government wants most of the cash to stay in the country," Pearson says. "There will be a political solution I think. . . We'll probably have to buy a gold mine, which is fine. I don't mind doing that."

Go for it Stuart. I wouldn't mind buying a gold mine either.

sd

it does scream "to good to be true"!!! but ......

What a bizarre and curious story. Sunday Telegraph peice is very revealing if true. Very unusual set of circumstances. Are the Brazilian government going to let all that money nip out of their economy? I guess an asset swap securitised on the cash would probably be the best way to 'transfer' the value out, as long as somebody underwrites it.

gonna be a scary ride this week.

the jury is out imo whether the Telegraph article will have buyers or sellers queuing up tomorrow.
im hoping for buyers.

does seem odd that cco "found" this huge wad of cash and didnt know it was there. on the other hand i found an old building society passbook the other week with just over 70 in it. took it to the woolwich who confirmed it was a dormant account ( over 6 years ) and after a bit of form filling i got the cash......WITH interest.

guess how much for 70 in 6 years?

13p less 2p tax.

glad to see that cco is doing rather better.

From the Telegraph:

A fortnight ago, Pearson - a jovial Yorkshireman who retired last year as a partner at Baker Tilly, the accountants - spelled out at Crown's annual meeting in Monaco just how undervalued the company's shares appear to be.


At the meeting he presented a balance sheet for Crown that claimed net assets in excess of 350m - including cash deposits of 360m. As Pearson pointed out, shares in the company, which closed on Friday at 68.5p, down from 875p in December 2003, appear to be a massive bargain.

"We have approximately 155m shares in issue, which equates to 225p per share," he said, adding that at the then price of 62.5p the company was worth just 97m, less than a third of the value of its cash deposits.

And now it's better value! Must be THE most Overlooked share at the moment but for how long???

Hi All,

Everyone is missing the other point, 25m in interest per annum !!!!

That alone is an EPS of 16p per share, if CCO had a respectable EPS of 20, the S.P would be 3.20, and looking at the NAV, that would be more realistic than 65p ....

Cheers,
PM

Paul - is the interest any more repatriable than the principal? Agree with the arithmetic, but it's got such a dodgy history. As Bosley said, if it looks to good to be true . . . .

sd

SD Hi,

The interest is acumulating now, and when the money is extracated from Brazil, the interest earned will come too.

We will se how 'good to be true' it is, when the money is exchanged for assets outside Brazil, and the price rises to somewhere near 2 or more.

I will wait this one out, rather than miss out, because a suspension and rerating are on the cards, if the price don't move when the money is out of Brazil.

Cheers,
PM

what do you mean by suspension on the cards,is this why people are selling to keep there money in tact and buy back in later when the news does arrive.

Once they get confirmation that they can withdraw the money, the shares would go through the roof and I think what Paul means is that the shares may get suspended as is often the case where the value of the co.is so highly effected by turn of events. The shares would then resume trading but at a much higher amount.

ive dumped mine......made 9.98 after expenses. had i waited another day id be sitting on a loss of 450. the old ticker cant handle this kind of share.

ateeq Hi,

Rob is correct, but there is also the very high probability, that if the price does not go through the roof, Crown Corp will ask for the shares to be suspended, and request a rerating, after which they will resume trading at a much higher value.

You can tell from the AGM statement, that the directors want the true value of the Brazil cash reflected in the S.P, and a rerating will do that, if the news does not :)

Cheers,
PM

as a matter of interest, suppose i took out a T10 tomorrow and the shares were subsequently suspended. where would i stand wrt settlement?

WHY ARE WE ALL THINKING ABOUT SUSPENSION,LETS HOPE EVERY THING IS CRYSTAL CLEAR WITHOUT THAT WITH A GOOD RNS.

LOL !

nm

robstuff - have followed your comments on other threads and noticed you were in on CCO so just had to look into it. I nearly jumped in at over 1 seeing the price rise quickly recently and glad I waited, have bought today as I believe there won't be much more profit taking, interestingly the drop has not been proportional to volume of sells compared to the rises seen earlier. Even if you factor in the fact that the cash is not as liquid as say in a British bank a/c, this is an investment co that invests in South America and the company is not going to leave it standing in cash forever, I understand the Brazilian govt is not opposed to the withdrawal to invest elsewhere anyway so the share price should not be low for ever. The management seem to me to be extraordinary negotiators and deal makers so it will be interesting to see what happens next. Either way, asset swaps or interest on cash deposit, the risk seems well worth it.

Hi iamole, I think you've timed it well, the mms reduce the price which after a steep rally, brings out the sellers and for a while it's a snowball effect but mms know they can raise the price and attract the buyers in the same way whilst there is still a lot of interest, and therefore they make a lot of money. It's just a game and you see it in every share, once they have accumulated a load of stock, up goes the price gain and if that coincides with an announement or some favourable press articles, there's a killing to be made, I am predicting the price to jump back above 1 within 3 weeks. I have already topped up although at higher price than you.

who are all the sellers, why do they bother? or have we been sold a pup? I don't think the directors put out the news of the deposit in order for them to bale out. (although i've had that at the back of my mind) It would be good to get an update to curb the selling.

Rob Hi,

I guess the company can't put out news until they have something worth putting out. I sent them a Brazillian company for them to look into for investment, but the way they will look into every possible investment, and do all the due dilligence, it could be a while before they swap the cash for assets (months rather than weeks or years !)

Sit tight, that's what I am doing, as the value is there, and it's a lot higher than what I paid for the stock :)

Cheers,
PM

Hi Rob

Not all sells .... Know of one buy @ 59p

Robstuff dont believe all you see ie boys/sells, i bought 10k at 61p and it showed as a sell so maybe alot of so called sells are in fact buys.

Yeah - i bought in today after taking my profits from YOO (bought at 4.2p) and my buy showed as a sell

Maybe we've hit bottom then, look forward to the swing back up to half realistic level

im not convinced.....there is no such thing as free money....is there? been sitting with a buy set up for over a week. WAITING.

Rod Hi,

It's not 'free money' it's part of a deal, which has been settled by the cash depostit in Brazil.

Cheers,
PM

Paul,

welcome back !!!!
where have you been ??
Brazil I reckon.

;o)

SM Hi,

I wish !

Long weekend of partying :)

Cheers,
PM

Hi Paul, do you have any idea of the timescale for such asset swaps? Why would Brazil be likely to allow investment in Portugal which has been mentioned in a recent news statement from the Co.?

PM
ive been trading 20 years and ive seen all this stuff before. as i said, free money dont exist. my trade is WAITING.

Rod, read the co. statements, it's a weird one i agree but they pulled off an investment deal of the decade by selling on a huge contract and the money is there in the account confirmed! A Brazilian Co could take this over to obtain the cash, that's my bet and then it'll be too late to buy in.

The only problem is that Brazil is an economic basket case !!

I'm still hanging on in there though.

;o)

SM Hi,

The assets in Portugal probably belong to clients of the banks in Brazil, possibly through financing deals. All they are interested in doing is selling those assets to someone, at a profit. CCO will be looking at the returns on those investments, which could be quite good percentages, and therefore shareholder and company value enhancing.

Cheers,
PM

If that is the case then acquiring Portugese assets in return for Brazilian based cash seems a sensible idea.

Might even go and visit these assets at some stage !!

;o)

Now showing big ****ing loss!! but the volume of selling is not that great so the price can bounce in no time and can always double in a day, this is one of those type of shares - in the meantime we're all watching our holdings dwindle like sad p****s whilst the mms **** about. I did say just invest what you're prepared to lose! but didn't really believe it - it's going to be like YOO, if you lose your nerve you're sure to miss out big time.

Again, loads of buyers but the price goes nowhere, get a sell or two though and the mms mark it down. Some call it tree shaking, but it's normally followed by a large increase in the sp so am holding

I've been reading with great interest all the posts (plus that Sunday Telegraph article) on the Company.
It is strange that no other newspaper or magazine has taken much interest so far. I would have thought that, on the face of it, the shares are extraordinarily undervalued.
However, one thing that may be against CCO is that, even at the current 50p to sell quote, there will be plenty of investors sitting on fat profits from only a few months back.
In the absence of any concrete news about getting hands on that money in Brazil I suspect the shares are likely to drift.
Certainly the normal 6 to 7 pence spread on the shares means it is very difficult for the traders to make a quick buck.
At the moment only the market makers are laughing all the way to the bank !!
Current holders I reckon ought to continue to hold.
However there is no need for new investors to hurry into it.
All IMO of course.
K******

ADVFN is down, which is really annoying. Where do all the posters from ADVFN post now?.

krypton, you could be forgiven to think that, but the shares were only very thinly traded up to around 65-70p which is when the real interest started. It may well be that holders up to then who had seen the sp do nothing but decline over the year got out but if you had been holding through those bad times and then the company announces that they have cash worth five or six times the value of the shares, would you have sold? No, I think as there is a classic downside which adds to the risk (i.e. it being tied up in Brazil) gives the traders opportunity to raise and lower the price by large percentages on relatively slim trading but there is nothing stopping this co's share price being marked up again with a little buying, in fact a rising price will often attract more buyers and so it continues going up without the need for further news. It will only take a small amount of buying as it is not very liquid, and if it got written about in another publication or some news was released on their progress, it would be written up very quickly indeed. If it was announced the cash was being released, then nobody will get a chance to get in at these levels and within a blink it will be 2.50 so you take the gamble, are you in before or after that crucial announcement or press article. Looking at the trades today so far, there are 15 times the amount of buys to sells, the price will have to rise if that continues.

Robstuff

Points well made.
I agree that an upwardly mobile share price will automatically attract a momentum of it's own but, as you also point out, the huge majority of purchases today (a factor of 15 to 1) do not appear to have made any dent on the 6p spread on the shares.
I am keeping a constant watch on it though !!

K******

Yep, that's been the case for the past few days with buys outnumbering sells, it may be next week, it maybe several mths but value will be restored :) best not to watch it too closely,i'll log out for a few weeks ;)

Rob
nearly made a VERY large error.....been watching and watching, buy after monotonous buy. spread a reasonable 55/56. online quote 55.7,then 55.9, then 56. just about to take the plunge when 5p is slashed off the bid. anyone got any ideas why?

bought PRTY instead for 58.5 :o))

superrod

Go read III or advfn this is gonna rocket ..

You have made a mistake superrod, why you think the spread is important i don't know. The best time to buy is when it's a large spread as it means the sellers are being shafted by mms and a rise is on the cards, when it happens the bid comes up so you could have got in at 55, now 62. Worrying about a spread is pointless, it's what the share is worth that's important and true value always comes through in the end, watch this go back through 1 and beyond very soon.

There will be many wanting to reduce their average price paid like me - topped up twice in fact which is what i did with YOO recently which paid off handsomely. This may be a medium term play, and so i'm confident that come a few mths, my holding will be worth a lot more, i'm not worried about short term volatility here.

Notice with this stock, the trades reported late as sells are in fact buys (just in case you hadn't noticed) which seems to be a mm practice to put people off the scent and attract sellers. What a game isn't it?

Agreed "robstuff" they do seem to a better execution of plan than do the England Football team.

Folks, what the hell does this announcement mean????? Have we been completely duped??

Booboo Hi,

It means they have some very BIG aquisitions to do due dilligence on, thats why they have done the placing for so much money.

Once they have done the due dilligence, they will spend the cash in Brazil, and have money earning assets in Europe, and the price will move closer to a 20% discount to the NAV of 2.40.

Stick with it.

Cheers,
PM

I got on board yesterday. I don't wanna miss this one.

As usual the institutions are able to get in at 48p while small investors are left wondering what is going on !!!
On the plus side the fact that more institutions have come on board will result is higher profile for the Company.
For those on the sidelines I suspect now is as good a time as any to get involved in the Company.
The removal of the uncertainty was worth missing out a few pence on the buy price and I'm finally in at 63p.

K******

Krypton Hi,

Agreed, and the way the market has taken this is very positive, if the assets CCO are looking at are good enough for those taking the placing stock, to give CCO several million pounds to do the due dilligence, they are good enough for me !

We could see 1 again very soon methinks :)

Cheers,
PM

An example of another investment company, clearly showing that the current CCO discount to NAV of 77% is a joke .... it cannot possibly stay like this for ever ....

"At the end of 2004, the shares were quoted at a discount of 5 per cent to the net asset value. By the end of June, this had become a premium of 1. 6 per cent."

http://www.companyannouncements.net/cgi-bin/articles/20050818151616P962D.html

Hi All,

Hopefully some good press tomorrow, to get this one moving ....

Cheers,
PM

Didn't I just know there was something going on with the price being worked down even though there were more buys than sells, it's all clear now, in order to Place shares at a rock bottom price guaranteeing the success of the issue. Now watch this rise and those institutions make their easy money!!!!

robstuff......i made a mistake?

bought PRTY and sold it a day later for 274 clear profit ( and if TDW online trading wasnt cocked up all day i would still be holding them, because there is far greater control trading online).

as for the spread not being important?..........suppose id just bought 20k cco for 56p, knowing that i could sell for 55.3p? an immediate loss of 140 plus expenses.
then the bid drops 5p......there goes another 1000.

like i said, ive been trading 20 years and intend to trade for another 20. ive had enough " paper losses" to know they invariably turn into the real thing.

i traded cco a short while ago ( buying around 74p) escaped with a tenner overall profit. boy would i be gutted if i was still holding that deal.

i remain sceptical wrt this windfall, but will be keeping a buy position at the ready. i dont mind missing the first 50p of a 150p+ potential rise.

thanks btw for the c&p from elsewhere with a few explanations ( maybe ).

good luck all and BE CAREFUL.

Cannot find the EPIC for Langbar International and CCO now showing no details.
Can anyone help ?

LGB Oak

robstuff (or IanT) - are you able to change to the new EPIC in the opening post?

sd

Thanks ptholden - may your porfolio rise and your putts drop !

GCR

Thanks ptholden - may your porfolio rise and your putts drop !

GCR

PC playing up !!

oak

The putts certainly dropped yesterday, 76 Gross, breaking 80 for the first time. All we need now is for the portfolio to rise.

pth

pth - great golf - I too broke 80 once only for my playing partner to hit 78 and equal his age - no chance of that for me now as I would need to be 4 under par !!
However, portfolio is all blue this morning with the exception of SKP (as always).
Sorry to chat but this board has become quiet - Has another opened as LGB

O.k, new thread started for the new Name LGB.