.

Surging now, up to 93p - led by Hong Kong, with 2m shares traded and having broken through the HKD12 level.

At 93p RCG are still on a P/E of only 3.1 based on 30p EPS this year, having achieved 16p EPS in H1 alone.

And much of the m/cap is covered anyway bu substantial tangible net assets.

A doubling from here would see a p/E of just 6.2 - and a 186p share price.

Shares weak in Hong Kong today, might be this story and the fear that Tony Chan might start selling RCG and dumping lots of liquidity into the market with might create a mega overhang.......


http://www.thestandard.com.hk/news_detail.asp?pp_cat=30&art_id=88206&sid=25454818&con_type=1

Wednesday, September 23, 2009

Fung shui master Tony Chan Chun- chuen continues to sell assets amid his legal battle with the Chinachem Charitable Foundation for the estate of late billionaire Nina Wang Kung Yu-sum.

Chan has been offloading personal assets since the financial tsunami hit late last year. He is reportedly strapped for cash after making investment losses.

The latest move is a possible disposal of his entire 62.32 percent stake in UURG Corp (8192). In previous months Chan sold properties worth more than HK$400 million.

UURG - an information technology and engineering consultancy services provider - said yesterday that Chan was considering selling all his shares. Such action may result in control of the company changing hands.

The firm's shares, which resumed trading yesterday afternoon, rocketed as much as 53.8 percent before closing at 24.1 HK cents, up 23.59 percent on turnover of HK$12.48 million compared with HK$5 million last Friday before trading was suspended.

UURG - which is listed on the Growth Enterprise Market - said Chan entered into an agreement with a potential buyer to facilitate due diligence up to October 1 and that Chan had received a non-refundable deposit of HK$500,000.

Chan's wholly-owned Marilyn Investments and Offshore Group Holdings hold his UURG shares. Marilyn, through its wholly owned subsidiary Almond Global, holds 2.52 billion shares, or 45.26 percent of UURG. Offshore holds 950 million shares, or 17.06 percent.

Almond also holds a convertible bond in the principal amount of HK$2.9 million which can be converted into 5.8 billion shares.

In July, Chan sold a luxury home at Severn 8 on The Peak for HK$230 million, or HK$45,000 per square foot, after buying it for HK$167 million in 2006.

He also reaped a total of HK$178.5 million by selling a house at Royal Oaks in Sheung Shui and a house at Middle Gap Road on The Peak.

In January, he received HK$203 million for a top-of-the-line Gulfstream jet that he bought for HK$265 million in 2005. He is also said to have sold two yachts.

ell if the recent rise has been in expectation of a court room settlement of the will, its not going to happen for a lot more months to come. Later this year or early next is the guidance from the judge on when the verdict will be given.


http://www.examiner.com/examiner/x-11031-Orlando-Feng-Shui-Examiner~y2009m9d23-Who-will-inherit-Nina-Wangs-estate-Chinachem-Charitable-Foundation-Ltd-or-Feng-Shui-adviser

Who will inherit Nina Wang’s estate: Chinachem Charitable Foundation Ltd. or Feng Shui adviser?

September 23, 3:55


Nina Wang (AP photo)40 days of courtroom battles are over having left the question of who will get the multibillion-dollar estate without an answer.

Nina Wang, the richest woman of Asia and the 204th richest person in the world, according to Forbes, died in April 2007. After her death, two wills were................................

Placing to raise cash, at a discount to the present SP.

Has to be proof to the disbelievers that the company is in cash flow problems. Who wants to raise money at such a low PER............bad dilution.

Could be more bad news to come in the next financial results release perhaps ??

News out this morning in Hong Kong media regarding the Nina Wang holding. Tony Chan (Raymond Chu's friend) has lost the case and Chinachem have won.

This moves all those RCG shares out of the "friends of RCG" hands and into Chinachem hands, which may mean they will now sell the complete holding of free shares they have inherited and get the cash.

RCG down in Hang Seng trading on the news.

Could see a sell off on London too.

Possibly 50% of the total shares in RCG could be "dumped" on to the market soon !! This has to be the start (or mid period) of an SP collapse.

http://www.theedgemalaysia.com/index.php?option=com_content&task=view&id=159184&Itemid=79

.............Ricky Tam Siu-hing, chairman of the Hong Kong Institute of Investors, said volatility in RCG's share price in the short term was expected as 50 per cent of the shares could suddenly end up publicly available.

"At the moment we don't know if Chan will have to sell his stake in RCG to pay for his legal fees while the share price of RCG is still quite high... there are reports that Chan has been selling some of his PROPERTIES [] in the last two years to this end," Tam said.

Since Veron was now owned by the foundation, it was possible Wang's RCG stake could be sold under pressure from the family, he said................

Vector Anaylist reccommend sell 9.2.10 sums done at 65p
more weakness maybe as i said dec 09
No divi in coming results, remain hopefull

the black bird

Results out in Hong Kong already, cash generation poor, no dividend to be paid, gross margins down, marketing expenses through the roof.

Hong Kong not impressed and RCG well down on the Hang Seng.

They seem to be permanently short of cash?

Nice move up (25%) the last couple of days.

dec 12th rcg cash flow end year march report cash flow per share 0 . 125

or 1.25 pence per share end year 3. 8 m divide by no of ords 300m

per haps a more in formed one would like to correct me the black bird