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% !!!!!

Thanks Andyeds. Trying to ignore the cr*p. Quite frankly I am surprised that some of these posts aren't libellous.... Got to be very damaging. The sooner the investigation is concluded better all round.....come what may

andyeds

Thanks for that. Shorters will love to read your post

regards

What kinda timeframe is expected?

First time for me that I've held shares and trading been suspended.

Weeks, a month?

What happens to those that were shorting the share, they're unable to close the position - must be costing them.

Could be any day, could be a month. What Pearson will be wanting is a full report from Qualified Auditors to first confirm the cash is in the account and that there is no claims on the money from the contract sales, i.e. that it is totally clean. This, he has already claimed but the market was still in doubt so this will clear the matter once and for all. If true, the shares will resume at a more realistic discount to assets which should be around the 1.50 - 2 level

robstuff. don't you think pearson should have done this before being involved? i still maintain that there is a screw up somewhere and these won't come back healthy (if at all)

I'm trying to keep optimistic, I don't think Pearson would have got involved in this unless it was bona fide, do you hold the shares?

Any body notice the date of this article........

April Fools Day


you read CCO RNSs - you can see Capital Merchant Bank - played a big part - in Lambert and Rybacks - BOB dealings - and funny - not - how it is not a bank - and featured on the Money Laundering News site - ;) - did nobody tell you about them before ?


https://www.nkt.net/CPA/news.html

MONEY LAUNDERING NEWS

01/04/04 BEWARE A NEW BANK SCAM
Capital Merchant Bank is a Brazilian corporation. It sounds and looks like a proper established and respectable bank. It is an established company and not something that has recently been incorporated. The services that it provides appear to include custodianship and wealth management services.

The problem is that it is not a bank!

Be careful dont just be attracted by offers dont be mislead by appearances.

The future looks bleak , live and learn .

dil,
i suggest you call Pearson or Padley like i said earlier. i wouldn't believe anything you read on a bulletin board. full of rubbish with people that have their own motives.
go on, give him a ring...

Hellooooooooo......Anybody in the house ?
It`s awful quiet in here. Still I`d rather that than the posters condeming all us holders to a watery grave. Anybody spoken to anybody in the know recently ? I have had more than enough time to decide how to spend all the money !!!!! :) Obe

This bb's not a main source of debate for LGB, suggest you look over on iii and ADVFN.

no thx. happt to keep on this BB....

drunk again......................

Buffin - 25 Oct'05 - 08:35 - 23097 of 23129

I asked Langbar, "Are you able to say why the Euroclear platform was used, rather than cash just being left with ABN Amro?"

Michael Padley has replied, "The Euroclear platform allows other authorised persons to see the deposit."

I don't fully understand this, but reproduce it fwiw.

-------------------------------------------------------------------

i understand this! if you look at the DTCC/NSCC platform website and search for 'langbar international' you will find an entry for Langbar from 24/8/5 (ring any bells) which is only accessible with a password that authorised people can use to verify the funds are there in ABN.

why would they do this? i'll tell you! we know they're using that cash for acquisitions, hence putting it on DTCC/Euroclear platform..

it's there alright in ABN, and it's on Eurclear so that target company advisors can check LGB have the funds in cash (earning 3.5%)

-----Original Message-----
From: Michael Padley [mailtoichael.padley@bankside.com]
Sent: 25 October 2005 08:23
To:
Subject: RE: Good Morning Michael.

Dear Sir,

As stated at the time the monies were transfered and earn 3.5% interest and are subject to tax being paid.

Regards

-----Original Message-----
From:
Sent: 24 October 2005 08:23
To: 'Michael Padley'
Cc: 'langbarcapital@o2email.co.uk'
Subject: Good Morning Michael.
Importance: High

Good Morning Michael.

At a guess I reckon you probably have a couple of hundred emails to get through.

When you get around to this one, can I ask just a simple question.

When the percentage of monies were transferred via Euroclear, I was of the understanding that that money was now in a LGB account.
However, reading the Euroclear website, there are terms used such as "Maturity" date etc.

The simple question..
Is that money in an LGB account? (ie: Is it cleared funds which belong to LGB)
Or, is it still subject to delays, clearance, time delay etc or any other delay before it actually becomes LGB's.?

Andyeds,

Ok-can you explain that to a lay person who is well confused?!!!!!

Show me the money.....louder....SHOW ME THE MONEY ....louder....SHOW ME THE ***k*** money !!!! I`m not getting worried, honest :) Obe

monopoly money?

Has anyone asked and got a response for how long it'll take to get verification?

bugz,

i means that Padley (bankside) has confirmed the $294m cash was transferred to ABN Amro as stated in the RNS and the only reason it was put on Euroclear/NSCC is so other authorised people can validate the cash (ie, during an acquisition).

the money was never the problem, it was Rybak selling that caused the suspension.

now it looks like the property deal is the 'assets' being verified because this will affect/increase the NAV of LGB which will, in turn, affect the RAF deal because it's a paper deal not cash...

ok?