Bought these the other day on results day and was certainly taken aback by their fantastic growth over the period focussing in on Asia. Ive copied a report from Killik Brokers who sum up the potential far better than I ever could.

Take note of the last Paragraph.

CROSBY CAPITAL Final Results

We highlighted Crosby Capital last year as an interesting opportunity. Its rather complex business structure makes it difficult to analyse and its introduction to the AIM market through a reverse takeover of a cash shell meant that investors have gradually got to know the story over the past twelve months. Nevertheless, it is fair to say that from a placing price of 15p, the rise to 29p suggests the action is underway.

The group is headed by two well known investment bankers including Simon Fry who was former head of Nomura in structured finance alongside Guy Hands. The company was established to house their interests in handling transactions in the Asian region and late last year, the first fruits were delivered with the injection of its oil and gas agreement with Medco which provided them with a carried interest over disposal proceeds above a $120 million benchmark (the expectation is for a sum significantly higher which will provide Lodore Resources with a useful cash injection). Crosby, having placed down 70 million Lodore shares for 10 million gross (5 million net to Crosby), retains 214 million shares worth around 32 million or around 15p per share.

Partially reflecting this disposal, Crosby has reflected part of the profit as it announces for the year to December 31, 2004, it generated a profit of $34 million on $55 million of revenue. The company states that the actual profit to be recognized on the Lodore transaction will be $82 million or 42 million. The total value of Crosby at 29p (new high up 3p) is 60 million. Simon Fry alludes to a healthy pipeline of new merchant banking opportunities coming through and hopes to conclude some this year.

For investors, it appears one is paying a modest premium over current assets for potential significant further upside. ENDS.

DYOR

Speculative punt, that could be a winner.

cheers GF.







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Alan, good to have you....are you going to average up?

All my spare cash is tied up, unfortunately. I'm actually more likely to wait till I see signs of hitting the top, pull out my original stake and leave the rest in the drawer as free shares and then start trying to play the pound cost averaging game!
This may be a very non professional way of doing it, and is probably the entirely wrong thing to do, but it works for me!!
Alan

whatever works and you are comfortable with....

Still with you guys, just leaving it to the experts to post.

Cheers, Madison

Hi guys,
Help out an amateur here.
Is todays RNS good, bad, indifferent, old, new or what.
Can't quite understand it. It looks like a company CSB own a large chunk of is buying, outright, a company CSB own outright. I'm getting lost in the logic!!!
Alan

On the face of it i did not like the deal BUT there is logic to it.

Firstly it consolidates the assets held by Crosby. secondly it adds weight to the IB Daiwa business and thirdly could build a platform in Japan that Crosby can use to buy assets without diluting the crosby stock.

on the downside it is a deal on the bass of 225 yen - over ten times the price a couple of months ago.

as a lodore shareholder i am a seller at the first tickup....NOT a good deal for me but as a crosby shareholder i am fairly content. It also puts a line under the daiwa price that CSB will need to defend.

any other thoughts??

It does mean that CSB will end up with a huge lot of IB shares. Would feel more confident once they have stayed above Yen150 for a few weeks.

exactly. however they will have a stonkingly good average anyway.

not getting sucked in but may see it all starting to take shape. AIM is CSB and then Japanese and Aussie interests. No point having two aim listings....

will speak later...
rgds
PT

IB seems to be consistently over 200Yen for a while now. The value of the IB options still equate to about 80% of the value of CSB, so I am still in for the long term, or till we see three digits!

Good to see you back again tallsiii. Was wondering whether you'd been on holiday or I'd been reading the wrong threads!

Cheers, Madison

Have been out and about a bit in the last few weeks. In the mean time the AIM market has made a remarkable recovery from its recent depths. Let's hope it continues!

added a few more of these today as we must be nearing a trading update or some news!

MP: Like you , have added to CSB during the recent price drift and this is now my No 2 holding behind front runner ELA.
On the news front, CSB announced the acquisition from Novus of Middle East oil assets via new partner Meridian on 18th July. This sounded significant to me but the sp did not respond.
sd.

Notice of Results

RNS Number:8479P
Crosby Capital Partners Inc
08 August 2005


Crosby Capital Partners Inc

Interim Results - Friday 12 August 2005

Crosby Capital Partners Inc, the Asia focused independent investment banking and
asset management firm, will announce its Unaudited Interim Results for the six
months ended 30 June 2005 on Friday 12 August 2005.

8 August 2005

What can we expect?

good news and vreative accounting. i expect some big numbers to be booked similar to last time. what this stock needs is more coverage!

Yes part of the profits from the Lodore deal are still to be booked, so we are likely to be looking at some fairly solid figures. If they were to value the IB options at market price on their books, then that would give them some coverage!

you can say that again....would put them on a PE of about 1!

Bringing the results out a day early! What could this mean??

So they only valued them at 1 quarter of the price. Still made for some very good reading. Maybe now people will sit up and notice this share for it's true value.