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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Eredene Cap. | ERE | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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| 0.00 | 0.00% | 4.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 4.00 | 4.00 |
| Top Posts |
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Posted at 19/6/2015 11:36 by epistrophy Takeover offer from the manager at 5.5pNot quite the result I was hoping for, but with last year's tender, at least anyone who bought recently should be in profit. |
Posted at 13/3/2007 14:40 by roodboy Eredene Capital Investment in Indian TownshipRNS Number:2547L Eredene Capital PLC 31 October 2006 Eredene Capital PLC Announces third investment in Indian real estate *To invest approximately #2.75m for 35% stake in an integrated residential township in Indore, Madhya Pradesh State Eredene Capital PLC (Symbol: ERE), the AIM quoted Indian real estate investor, is pleased to announce it has made its third investment in Indian real estate. The Company has invested approximately #2.75m (Indian Rupees 233m) for a 35% stake in a Special Purpose Vehicle (SPV) to develop an integrated residential township located in a prime site on the outskirts of the city of Indore in Madhya Pradesh State. The township will be situated on a 100 acre site located off the main Agra-Bombay National Highway and next to the proposed MR-3 arterial road in the area of Bijalpur, some 6 km from the centre of the city of Indore. The site benefits from direct access to the city centre and airport. The site is also on the route between Indore and the 2,600 acre Special Economic Zone (SEZ) at Pithampur, which is one of the hubs for industrial activity in Madhya Pradesh State. The development will be a self-contained fully integrated township and is intended to include residential houses and apartment buildings as well as educational, medical, retail and entertainment facilities for the use of residents. It is anticipated that the project will involve the development and sale of up to 3600 residential units and the development and sale of up to 700 residential land plots. Construction of the project is expected to commence in Q2 2007 with a phased completion and with sales expected to commence in 2008. The project is scheduled for completion in 2011. Eredene's primary joint venture partner in the SPV is Entertainment World Developers Private Limited (EWDPL), an Indian real estate development company headed by Manish Kalani. EWDPL was incorporated in 1999 to develop and construct shopping malls, multiplex cinemas, hotels and large scale residential townships. Manish Kalani has a considerable track record in retail and residential property development in Indore and elsewhere in India. In early October 2006, Eredene announced a large mixed-use development in Indore to be developed in partnership with EWDPL. Saffron Capital Advisors Limited sourced, evaluated and advised on this transaction. Saffron has a highly experienced and talented team specialising in Indian real estate investments in the retail, commercial and residential sectors. Eredene and Saffron entered into an Investment Advisory Agreement in April 2006. Following this investment, Eredene will have invested approximately #13.63m of the #57.1m (then equivalent to approximately US$100m) that it raised in April 2006. Accordingly, Eredene has invested approximately 24% of the fund that it raised in April 2006. Commenting on the Company's latest investment Alastair King, Founder and Chief Executive of Eredene, said: "We are very pleased to announce our third investment. This again demonstrates our ability to deploy Eredene's capital in potentially valuable investments in India's tier 2 and 3 cities where we believe long-term growth and value lies. We have now committed approximately 24% of the funds raised in our April 2006 fund-raising and we intend to continue to invest in projects which represent good opportunities for Eredene." Indore Indore is the largest city in Madhya Pradesh State in central India. It has a population of over 1.2 million (as per 2001 census) and is well known as the commercial capital of the state. The city is located approximately 524km from Mumbai and approximately 674km from New Delhi, and is well connected by rail, road and air to other cities in India. The project lies close to Pithampur, referred to as the "Detroit of India", which is one of the largest automobile manufacturing centres in Asia and is home to leading automotive companies such as Bajaj, Eicher, Hindustan Motors, Kinetic Honda and Bridgestone. Indore has the first green field Special Economic Zone in India and is one of the largest manufacturing locations in Asia for basic and bulk drug formulations. The city has a number of educational institutes including an Indian Institute of Management. - ends - |
Posted at 13/3/2007 14:37 by roodboy Eredene Capital New Strategy/Placing/ResRNS Number:2885B Eredene Capital PLC 10 April 2006 Date: 10 April 2006 EREDENE CAPITAL PLC Proposed Change of Strategy to Invest in Real Estate in India Placing of 228,428,000 Placing Shares at 25p per share raising #57,107,000 (approximately US$100,000,000) Adoption of Share Option Plans Notice of Annual General Meeting Admission to trading on AIM SUMMARY OF INFORMATION The following summary should be read in conjunction with the full text of this announcement. - Eredene was admitted to AIM in February 2005. The Board is now proposing to adopt a strategy to invest in and develop real estate in India and to appoint the Saffron Group as investment adviser to the Eredene Group; - The new strategy offers investors the opportunity to invest in India's growing economy and aims to take advantage of the liberalisation of India's foreign direct investment guidelines. The Company intends to focus on real estate opportunities in tier 2 and 3 cities in India; - Eredene will focus on opportunities expected to deliver capital appreciation (with target IRRs of more than 25 per cent.) and which offer a clear exit strategy. A prospective deal pipeline has already been identified with potential investments with this target IRR; - India is the second most populated country in the world and its largest democracy. It is the fourth largest economy in the world on the basis of purchasing power parity, behind the United States, China and Japan. Economic reforms have been one of the key factors in driving India's growth. The Indian real estate market remains highly fragmented and the Board of Eredene believes there are substantial opportunities and scope for further development in the Indian real estate market; - The Eredene Group will be advised by the Saffron Group, the management of which is respected and experienced in real estate investment and development, with a demonstrated track record in India since the mid 1990s. The Eredene Group will make the final investment decisions; - Eredene was founded by its Chief Executive, Alastair King, who qualified as a solicitor in 1995 and holds a MSc. in finance from London Business School. It has an experienced board of directors which, conditional on Admission, will be joined by Sir Christopher Benson, who has been involved in real estate investment and development throughout his career. He gained significant development experience when with Arndale and thereafter became Managing Director of MEPC. He has been chairman of MEPC, Royal and Sun Alliance, Boots the Chemist, Costain and Albright & Wilson. He was also chairman of the London Docklands Development Corporation; - The Company has completed a conditional placing to raise #57,107,000 (approximately US$100,000,000) (before expenses), representing approximately 93.34 per cent. of the Enlarged Issued Share Capital at Admission. HSBC is the Sole Bookrunner to the Placing. The Directors, who already have substantial shareholdings in the Company, and the Proposed Director are participating in the Placing and will subscribe for a total of 800,000 Placing Shares having in aggregate a value of #200,000 at the Placing Price. Two of the senior officers of the Saffron Group, Ajoy Kapoor and Rohin Shah and their families are also participating in the Placing and will subscribe for a total of 1,400,000 Placing Shares having in aggregate a value of #350,000 at the Placing Price. Seymour Pierce is the Company's Nominated Adviser and Broker; - The Company has today announced its results for the period ended 31 December 2005. As at 31 December 2005 the Company's net asset value was 22.5 pence per share; - The Company's change of strategy is treated as a reverse takeover under the AIM Rules and therefore Shareholder approval is required at the AGM to be held on 4 May 2006, to pursue the opportunity to invest in real estate in India; - The Company has received irrevocable undertakings to approve the proposals set out in the Admission Document from shareholders representing 65.6 per cent. of the current issued share capital of the Company. Dealings in the Enlarged Issued Share Capital are expected to commence on 10 May 2006. Commenting on the announcement, Alastair King, Founder and Chief Executive of Eredene, said: "Eredene provides an early opportunity to invest in India's growing economy through a strategy to invest in and develop real estate in India, and to take advantage of the liberalisation of India's foreign direct investment guidelines. "We are delighted that Saffron will become Eredene's investment advisers and look forward to working very closely with such a strong and dynamic team. We believe that Saffron has both the experience and the network to secure highly profitable investments in Indian real estate. Further, we welcome their decision to subscribe alongside Eredene Directors in the Placing. "The Directors are unanimously recommending the proposal to Shareholders. It is the Directors' belief that Eredene is well positioned to prosper in this highly attractive market." Expected Timetable of Principal Events 2006 Publication of the Admission Document 10 April Annual General Meeting 4 May Admission and dealings expected to commence in the Enlarged Issued Share Capital on AIM 10 May CREST accounts credited for the Placing Shares in uncertificated form 10 May Despatch of definitive share certificates for the Placing Shares in certificated form by 19 May Placing Statistics Placing Price 25p Number of Ordinary Shares in issue at the date of this document 16,300,000 Number of Placing Shares 228,428,000 Number of Ordinary Shares in issue immediately following Admission 244,728,000 Placing Shares as a percentage of the Enlarged Issued Share Capital 93.34% Market capitalisation at the Placing Price #61.2 million Estimated gross proceeds of the Placing #57.1 million Estimated net proceeds of the Placing receivable by the Company #55.4 million Enquiries to: Eredene Capital PLC www.eredene.com Alastair King Tel: 020 7318 1630 HSBC Bank plc Heraclis Economides/James Taylor Tel: 020 7991 8888 Seymour Pierce Mark Percy/Jeremy Porter Tel: 020 7107 8000 Redleaf Communications Emma Kane/Duncan McCormick Tel: 020 7955 1410 - Publication quality photographs are available from the media centre at www.redleafpr.com - Further information on Eredene Capital PLC is available from www.eredene.com |
Posted at 13/3/2007 14:29 by roodboy Eredene was founded by Mr. Alastair King, current Chief Executive, in February 2005 as a cash shell. In early 2006, Eredene capitalised on the foreign direct investment opportunity in Indian real estate sector by raising a $100M property fund. The Company which was a shell then was turned into a quoted property fund, first of its kind for the Indian market. The fund is AIM quoted and offers a first mover advantage to the investors.Eredene has high quality and supportive shareholders including GLG Partners LP, Caledonia & Cayzer Family, and Henderson Global Investors. For details on the Real Estate Fund, please refer to our Admission Document: |
Posted at 10/2/2005 08:16 by currypasty new to AIM todayShares in Eredene Capital (AIM: ERE) commenced trading on AIM today. Eredene Capital is a newly incorporated company established for the purpose of identifying and acquiring, or making acquisitions in, businesses which are considered by the Directors to have the potential for generating sustainable growth and profitability. Eredene Capital's Nominated Adviser and Broker is Seymour Pierce. The Company raised #4 million (before expenses) by the placing by Seymour Pierce of 15,800,000 new Ordinary Shares at 25p per share with institutional and other investors, representing 97 per cent of the enlarged share capital of the Company at Admission. Eredene Capital's primary focus is on businesses based in Europe, Australasia and the Far East operating in the following sectors: retail, leisure, media, property, technology, healthcare, support services, and natural resources. The Directors believe that a number of undervalued private companies exist that have potential for growth, either organically or in combination with other complementary businesses. The Directors further believe that some similar opportunities also exist among publicly quoted companies and the Company may acquire, or make investments in such companies. |
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