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% !!!!!

Good to see the same names on here as ADVFN. Cheers R33Skyline, I owe you a drink for all your work on the ADVFN thread, you kept the faith.

Looking at the trades today I think a platform is being built at around 90p now. what do you think?

Subject: Re-organisations
Date: Tue 6th Sep 2005 9:08:30
Country: United Kingdom
Industry: Property
Company:


Langbar exits South America, turns investment to Europe

LONDON (AFX) - Langbar International Ltd, the old Crown Corporation, said it has successfully negotiated an agreed and managed exit of its cash deposits in South America.
This is in order to provide the company with ready access to these funds to invest in the developing Langbar operations.
Cash deposits acquired from Crown Pharmaceuticals Ltd of 294 mln usd have been successfully transferred to a Langbar International head office account of ABN Amro BV in Holland. The interest rate on these deposits has been agreed at 3.5 pct per year.
The transfer of these deposits into Europe was conditional on certain undertakings in respect of potential Brazilian tax liabilities, in the event that any may arise. Langbar said it will therefore, in the interim statement to be issued later this month, prudently be providing the sum of 25 mln usd in respect of undetermined tax liabilities.
As to the balance of the Langbar funds on deposit in Brazil of some 370 mln usd, agreement has been reached with bankers in Brazil to invest the remaining funds in significant real estate assets in Europe.
Whilst the property market in the UK remains buoyant, and Langbar may well invest in the future in the UK, the board said it believes increasing shareholder value can be better achieved at the present time by investing in European projects, mainly in Portugal and Spain, which it intends to pursue with experienced joint venture partners.
These will be held in a new Langbar subsidiary, the European Property Investment Company ('EPIC'). The company is in the process of conducting due diligence and said it shall provide further details for shareholders in due course.
Langbar Capital Ltd, the investment and advisory business, will concentrate almost wholly in the UK small and mid-cap market and has a number of interesting
investment situations under consideration, the company added.
Langbar also said today it has acquired 100,000 ordinary shares in Zander Group Ltd at 135 pence per share. Langbar Capital already holds options on 500,000 shares in Zander, exercisable at 75 pence.
Stuart Pearson, the chief executive of Langbar International, is a non executive director of Zander which is intending to seek admission to AIM within twelve months, subject to market conditions.
Zander is involved in the regeneration of desert and arid land and the clean up of contaminated land.
Langbar also said that because of the number and quality of opportunities being presented to the company at the present time, it is unlikely that capital will be returned to shareholders.
The group said it expects to make further announcements regarding potential investments shortly.
newsdesk@afxnews.com
slm/

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Katsy

Touching wood ,

90p should be be a base with significant new shareholdings taking place.

Hope to see a steady rise tomorrow and Thurs through 1.00 + then wait to be updated.

Break my own rules now but i`m watching BFC to see if their plant is ready or expecting commissioning delays (not a ramp honest guv )

robstuff and paul;

in some of your earlier posts today; are you guys mixing your US dollars with british pounds ?? if so - would make a sizeable difference......

Thinking of buying back those shares now I sold this morning at 90.25p, since there is now support.

how long does it take to put the plug back in the socket

voss
Don't leave it too late this will move up towards close

..and on through 100p tomorrow, toward 150p by Friday. There is no reason why this should not be trading at NAV or a small discount to NAV. Clearly a very strong hold indeed. My opinion, I hold (of course!)

I`m in and holding 95% of everything 5% = beer money.

R33Skyline - I think everything that needed saying about LGB has been said, now it's the case of what they do with the money, no gaurantees...but. Anyway now it's time to focus on other opputunities. You really should have a look at IEC, company should be worth at least double what it is now. Check the advfn thread on this, I've been in since 3.85 now 5.20p people holding till 15. I'm aware BFC.

other site back up

cannot get LGB on though

these 500k are buy orders being filled

a.d.v.f.n has lost the ticker for LGB

P.S ADVFN has gone again !

You would expect this to generate tips from multiple publications over the coming days / weeks

Katsy

Will have a look at IEC ,DOO is another favourite

peter

This looks like a hold now ,Pearsons delivered so far and he`s only just started

With a forward looking market the SP could be on a projected NAV soon ...