St Peter Port Capital Share Discussion Threads

[zcaprd7] 18/2/2022 09:23

Thanks, got mine... Look forward to some of their investments coming good over the years now.

[spectoacc] 07/2/2022 06:57

Paid out a while ago with Jarvis.

Edit @zcaprd7 - had mine 30/12/21 from Jarvis.

[flyfisher] 06/2/2022 18:35

Yes with Hargreaves.

[zcaprd7] 06/2/2022 18:29

I still haven't received a bean, has anyone got cash out of the liquidators? (with Hargreaves)...

[stockstockham] 31/12/2021 08:41

Time, hopefully.

[spangle93] 31/12/2021 08:25

The last of 3 Liarspoker tips.
The first two went bust; at least I get 5% back on this one.
Wonder what he's doing now

[charlie] 30/12/2021 23:30

The liquidator's cheque arrived in today's post. 3.36442393p per share :(

[zcaprd7] 30/12/2021 06:36

Anyone with insight on the liquidation timetable?

[zcaprd7] 30/9/2021 16:17

Arbitrage opportunity, or something bad happening?

[hedgehunter2] 10/8/2021 09:58

Woodford scenario Mark ii.

When CEO does hold decent amount of equity always a bad omen.lesson learnt.Alwyas thought a hair cut not loose all the skin and limbs.

[spectoacc] 06/8/2021 15:23

No that's true, and doubly hard with unlisteds/minority stakes. But hard to believe only worth 3.38p reading down the list. And RAB aren't paying £2.2m because they think it's only worth £2.2m - can see them winning from this.

But - SPPC can't continue as it is, and shouldn't have continued anywhere near this long, and will be glad to see the back of it.

[eezymunny] 06/8/2021 12:18

An audited valuation doesn't mean much. An auditor is not always the brightest star in the sky ;) Directors can just pluck a number and an auditor can OK it...

[spectoacc] 06/8/2021 11:50

They emphasise "unaudited" but we've had plenty of audited valuations. They've p*ssed money up the wall for years - this winding-up should have happened at least 5 years ago.

Not just because the assets would have been worth more then, but that's 5 years of director's fees, director's expenses, management fees, RNS fees, broker fees, listing fees.

If 3.38p is what everything's worth, it's what everything's worth.

[eezymunny] 06/8/2021 11:42

A very predictably poor outcome? Valuations always looked finger in the air...

[spectoacc] 06/8/2021 11:24

Pathetic. But - it's an end, and isn't zero. Strewth tho, had more out in dividends.


"Individual cash offers were received for various holdings in the portfolio, but the offer by RAB Capital represented the highest cash proceeds net of costs to conclude the sale of the portfolio. The proceeds of £2,200,000 compare with an unaudited book value of the investments being disposed of £9,445,000 as at the last published balance sheet of 30 September 2020 in the Company's interim results. The level of proceeds is therefore at a large discount to this book valuation reflecting the circumstances of the sale. However, the difficulty for the Board was that there was little prospect of a significantly better realisation being achieved in the short to medium term."

[russman] 04/8/2021 22:22

Must be due an update.

[spectoacc] 30/6/2021 06:55

Big news if so - where did you hear that, @zcaprd7?

[zcaprd7] 29/6/2021 23:34

Apparently, they've received offers for all of the holdings here, so it will be interesting to know just how they will manage offers for specific individual lots now?

[flyfisher] 28/6/2021 07:36

From OPP.

Celadon is a privately held company domiciled in the British Virgin Islands. It owns rights to mine coal in northern China. As we announced about a year ago, Celadon had entered into an agreement with a third party for the sale of the Company's assets. If that transaction had completed, the Company would have expected to receive net proceeds of approximately GBP3.3 million. That agreement was subsequently replaced with one that entailed a series of payments commencing in March 2021 and completing in March 2022 with gross proceeds to Celadon of RMB 282 million and net proceeds to the Company of about GBP2.5 million. Celadon's controlling shareholder has reported that although Celadon has already received a small portion of the RMB 282 million, the bulk has not been received on schedule because of what he identifies as short-term obstacles to transferring money out of China. He is nonetheless confident that the promised consideration will be received in its entirety and has stated that net proceeds will be distributed to Celadon's shareholders. Given the series of disappointments over the buyer's failure to complete as promised and concomitant concerns, the Company has decided to write down this asset by half.

[spectoacc] 16/6/2021 13:08

A hint of upward movement, tho seen nothing since:


" It is now anticipated that it will require another two months or so to achieve concluding bids and to maximise the cash returned to shareholders. The auctions have two stages, submission of an expression of interest and evidence of capacity to participate. This first stage is largely complete, but it is still open to latecomers. The second stage, which some bidders have already reached, will give an opportunity to review any confidential material including having conversations with investee companies' managements, having signed an appropriate non-disclosure agreement, following which offers will be requested. "


Hopefully early Aug from that, and who knows, some money back by the end of Aug.

[zcaprd7] 04/6/2021 08:11

Did we have any Gobi coal here, OPP just sold their stake?