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% !!!!!

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

Hi, I do not understand why the suspension is got to bad news. They are just suspending trading because I think they want an Indipendent Panel to give a fair value to the Company and stopping all the speculations that have been going for so long where the money comes from etc,etc.....They have deposited a lot of money in a European Bank you know which one and surely with all these EEC regulations the Bank was not going to accept all this money knowing that could be of dubios origins as someone keeps speculating, and even the money left in Brasil must have value and this is simply not showing in the share price so the Directors of the Company none of them fleeing abroad.....being fade up of this ludicrous undervaluation have stopped trading for now. As simple as that. Well at least We all hope so...... I am optmistic, regards Al

From the 30 sept 05 RNS;

" Stuart Pearson, Chief Executive and Acting Chairman, commented:

'The performance of the share price has improved dramatically since we last
reported in June. However it is still substantially below the net asset value of
the business. "

I am still optimistic that a positive situation will arise.........

Ian, cheers for those comments.

My post above may have been a little on the strong side but my reasons for remaining on the sidelines were that often when presented with a gift horse (company at a huge disc to NAV) there is usually a reason why, and the suspension today may disclose that reason. I may be wrong and this stock opens alot higher and I then wish all holders well - and i truely mean that.

I do not in any way feel the need to defend myself but apart from some amusing non-market related comments on the SEY thread I have never lied or mislead an online community I enjoy being a member of.

Some posters feel the need to spin and spin and spin. At times it is amusing but at other times it is just annoying. All I ask as a member of this community is that posts are kept on the side of fact and stated rumour as opposed to lies and spinning yarns.

By the way, Dr Square I thank you for your comment and would like to let you know that I have recieved numerous private emails from fellow posters giving their views (politely!) in this name but also lots of support taking a stand against a certain other poster! cheers.

Rgds
PT

Prop

seems your views are very similar to mine on this one - something just didnt feel right and still doesnt. My personal opinion is that is more likely to be bad news rather than good, though ultimately without being much closer to the deals we will not know until it is fully out in the open. The small placing and the offer to buy RAF with shares both indicated to me that the company still had no access to any of the cash.

just because some people cannot accept any view that differs from their ramps should not detract from sensible posters like you prop

Prop/Fundy - Hear Hear (or is it here here?!)

Scuse me folks....the statement actually says that IT (the company) has requested the suspension of its shares pending an investigation. That was surely said for a very good reason. They were not MADE to do it. It is soooooo obvious from the negativity bouncing around on this BB why this share cannot possibly reach its rightful level at the moment. Nice one SP. This, is, in my view the best news so far for LGB. I'm with Paul on this one........never let me down yet.....