Previously Crown Corp, CCO. Institutional interest now and the Co has changed it's name for a fresh beginning. Still very speculative, but what isn't? but just a case of investing the huge amount of Cash sitting in a Brazilian bank a/c. There's no real difference here to an emerging markets investment fund apart from the obvious and very attractive discount to NAV of approx 75% !!!!!

Hi All,

Those who remember my posts on FYB, the one's I was suspended for, and decided not to go back .... well here you have the proof that I was posting a perfectly valid statement, by suggesting that LGB would suspend the stock, pending a revaluation, this has happened today, so LOL at FYB !!!!

Statement re. Suspension

RNS Number:5412S
Langbar International Limited
12 October 2005


Langbar International Limited ("the Company")


The Company announces today that it has requested the suspension of trading in
its common shares of Euro 0.001 each in the capital of the Company with
immediate effect pending independent verification of certain of the assets of
the Company.

Excellent, independent verification and true value to come..what price will it start trading at, any guesses?

So paul , what else do you know?

Must say, I am mightily relieved. Couldn't sleep last night. Carrying a bigger loss than ever and have broken all my own rules on when its time to jump off (the investment that is, not the cliff). Come on Pauly give us a clue about a possible re entry level?

there are so many rumours good and bad flying around about this on other sites
its hard, what to believe, but raf shares have gone up today,

Rybak has been selling over recent days. It would be informative to know why. I suspect that interested institutions might have requested he reduce his stake, but it would be helpful to see that in print.


RNS Number:5284S
Dr Mariusz Rybak
11 October 2005


FORM 8.3


DEALINGS BY PERSONS WHO OWN OR CONTROL 1% OR MORE OF ANY CLASS OF RELEVANT
SECURITY
(Rule 8.3 of The City Code on Takeovers and Mergers)

Name of purchaser/vendor * Dr Mariusz Rybak
Company dealt in Langbar
International
Relevant security dealt in Ordinary shs

If a connected EFM, name of offeree/offeror with which N/a
connected

If a connected EFM, nature of connection # N/a

Date of dealing Most recent date
11th

DEALINGS +

Amount bought Price per unit (currency must be stated)

Amount sold Price per unit (currency must be stated)
500,000 56p

Resultant total amount and percentage of the same
relevant security owned or controlled 34,100,892 19.69%


Previously undisclosed trades detailed below

Date of dealing No. Shares Buy/Sell Price Resultant Total Percentage
4 Oct 2005 750,000 Sell 64.38p 37,550,892 21.68%
6 Oct 2005 2,100,000 Sell 55.19p 35,450,892 20.47%
7 Oct 2005 600,000 Sell 61.5p 34,850,892 20.12%
10 Oct 2005 250,000 Sell 59.8p 34,600,892 19.98%


IS A SUPPLEMENTAL FORM 8 (DERIVATIVE)/FORM 8 (OPTION) ATTACHED? NO

Date of disclosure 11th October 2005

Help please. What do LOL & FYB stand for ?

Hi Granny
LOL is short for laughing out loud....FYB is another BB bulletin Board...on another site.

Hi All,

We know these have a NAV of over 2, an independent valuation might raise that.

They should IMVHO be trading at no more than a 20% discount to NAV, so 1.60+ is the target.

Cheers,
PM

Yes but do we know the NAV is good?
Are there really no claims on this money?

I suspect Pearson is sick of the unbelievers as are the companies brokers and has had enough of it all.

iturama,
that is what i was trying to get at.......he has reduced by about 2% i think, at a time that they have been doing the rounds and getting some institutions on board etcetc..........so he's either been asked to pass over part of his parcel, or simply had to reduce in order to get them the price they wanted (or something to that effect)........On the other hand he may have simply been reducing his stake (but at such a low price ???)

and perhaps out of it all (the City rounds) came the notion that they should get their assets independantly valued.......

although it is always possible that the negative perception of these events can also be true........

i imagine that the "pending independent verification of certain of the assets of
the Company." part has to do with verifying that they can in fact get their hands on their Brazilian money........

The Rybek sales are a concern and may have triggered the suspension. Why would he sell at a third of the claimed NAV value? If it was due to institutional pressure, he could have done a private sale to those institutions.
I suspect SP is a bit concerned about the second tranche of cash (the $370M). I can't see any justification for the BOB holding that back, unless the original US$ had been converted into local currency, then applied in the money markets. This could well be the case and it is entirely feasible to have doubled the money, in US$ terms, in the period. The Brazilian Real has appreciated around 50% in the last two years against the US$ and internal interest rates have been very high.
The BOB would have no problem repatriating the original $ amount, plus interest. This amounts to $294M or 168M. This gives a bottom line NAV of over 1 per share.
The second tranche could have restrictions but SP appears to have resolved that, at least with the BOB. Lets hope so.

after being on the sidelines here my view is that this does NOT bode well. i think the valuation will come in far far lower than expected or even close to zero.

i am not scaring people here but in a mispricing situation that everyone has banged on about there is always a bit of smoke and fire and in this case if all was legit then these would trade at a small discount as opposed to the huge disc currently.

i wish holders luck but i think this valuation is at the request of regulators, the LSE or some other body. what the hell does it mean otherwise: "independent verification of certain of the assets of
the Company." - when is that good news?????????????????

nm

nm

nm

paulmasterson1

With respect I do not know Proptrade but have benefitted from information given by him, and believe him to be honest. If you don`t agree with him,which I don`t on this occasion fine.

But it is important for all views to be heard and not be slatted. You never know what information you might learn from.

regards

nm

Paul,

As long as negative comment is posted in a non personal way this is a free speech forum - people are entitled to be negative about any share they see fit, just as you are more than entitled to be positive about it.

I have had to step in on the SEO thread today, I am now stepping in here as well - stick to the subject not your fellow posters.

I will not step in again as far as any poster on these 2 threads is concerned - I will simply take action.

I sincerely hope I have made myself clear enough to everyone and is a last warning before we remove access to a few posters including yourself.

Ian