Principle Cap. Share Discussion Threads

[fo77y] 21/4/2010 12:39

I sold out the day after my last post, got fed up with waiting. Have used the money elsewhere. Hope it comes good for you, still think it'll be no less than 17p, you'll get back. If this drops futher, might be tempted to buy back in, but at moment the spread is a bit shocking.

[chrisdgb] 21/4/2010 09:52

They did get back to me and said that they couldn't say anything...!!!

Suffice to say they will inform the market on any dvelopments....

I hope they are soon, this has been dead money for me..

[fo77y] 07/4/2010 10:22

Cheers chris, at least there is someone else still in this.

I tried to sell mine the other day, got a bit fed up waiting (wanted to use the cash elsewhere) but i couldn't sell what i wanted to, so decided to just wait it out...... If it wasn't for the 'potential transaction' update back in January i think this would easily be 30p+.

Hope they do get back to you, the lack of an update is very annoying.

[chrisdgb] 07/4/2010 08:02

I have sent an e mail to the company. They said they will get someone back to me....

More positive news on Sirius this morning...

PCX could be an absolute bargain or a value trap...????

Any thoughts/whispers welcome...

[fo77y] 25/3/2010 16:18

wow, just checking in again in here and still we haven't any update. Does anyone have any idea how long this will take?

Does anyone care?

Anyone........

[fo77y] 03/3/2010 15:27

Yep, very bored

[chrisdgb] 01/3/2010 15:39

would be nice to get some action, I am getting bored now..

[fo77y] 08/2/2010 12:13

Well it's nice to see they are keeping us informed of developments... not !!

Chrisdgb, i believe it will be circa 18p, think anything less would be 'extracting the urine'. Can't see it being much higher (although fingers crossed), as they are basing it on the last month's trading price which went from 15p-24p.

Just wished they would get a move on with it though, it's tied up cash that i could be using elsewhere at present and i refuse to sell at a slight loss when i know i will gain some when they eventualy sort it out.

[chrisdgb] 01/2/2010 12:03

still waiting here, I would like to top up as I think the price will be 20/21p but I need some funds....any thoughts??

[fo77y] 19/1/2010 14:14

i was thinking we might hear an update possibly next week, but i don't really know how long these things take....suppose it's a case of 'how long's a piece of string?'

[chrisdgb] 19/1/2010 12:21

still think the injection will be around the 20p level, wonder what the timing is??

anybody heard any whispers..????

[chrisdgb] 12/1/2010 14:18

yes current mid price 18p, they must have bought at the 21.95p level....

shares look an interesting play at the moment....

[fo77y] 12/1/2010 14:13

So they've increased their holding 1,070,000, not sure what it signifies though, apart from that the price that is agreed will be higher than it is now, but lower than 24p.

[chrisdgb] 12/1/2010 14:08

Holding in company announcement, what do we think is going on here....??????

[chrisdgb] 10/1/2010 09:03

interesting blocks of 0.5m shares going through Friday at 21.95p...????

[chrisdgb] 06/1/2010 09:34

fallen too far I think, with an exit strategy if it goes through but with possibility of either blocked or extracting a higher price, looks an intriguing buy..

[fo77y] 06/1/2010 09:01

This is an extract from the interims, i especially like the last sentence....

...'We will continue to focus on increasing rents where we have the opportunity to do so, and investing in transforming the portfolio under the proven Sirius model. We therefore look forward to further developing the business and delivering value to shareholders.' (By selling at a lower price than it's worth?? !!)

lol

[nickcduk] 05/1/2010 14:44

More disgusting behaviour. If they were happy with the intangible values in their last set of accounts I don't see how they could happily endorse a equity injection at a fraction of the current price or purported NAV. Obvious that insider trading was at play when that large line of stock went through and smashed the price late last year.

[fo77y] 05/1/2010 14:28

What a strategy!!

Let someone buy us out at a lower price than it is now, brilliant !!

[qwazi] 05/1/2010 14:19

Intending to raise money at a discount and then delist - not a good result for shareholders unfortunately if it goes through.

[chrisdgb] 05/1/2010 14:19

I would be annoyed if the capital injection was below 20p.....

Looks a strange one, anyone else looking..??

[ivor hunch] 23/12/2009 14:37

I was taking a look at PCX and on the surface it looks interesting, but I found it difficult to assess the NAV. The directors include an enormous amount of goodwill in their assessment - something which I usually largely discount when valuing a share. I reckon that goodwill accounts for at least 150p out of the directors' 188p per share NAV calculation, so the net value might be around 35-40p per share. Certainly above the present share price but seeing that the company is in the deeply unpopular financial sector, I can't see any great fireworks here.
Ivor

[chrisdgb] 23/12/2009 08:05

I suppose we need to remember that with markets strong, AUM still rising making this even cheaper..

[loverat] 22/12/2009 14:37

Spread just narrowed. Might attract some buyers.

[loverat] 22/12/2009 08:48

A bit of information about the track record of QVT. This concerning their recent failed attempt to take over London Asia Capital..... they also directors of CGO.

5. POSITION OF QVT AND PROPOSED DIRECTORS

5.1 QVT

American shareholder QVT is a hedge fund, which at the date of serving notice on the Company, held 28,165,045 shares in the Company, representing 12.3% of the issued capital of LAC.

On 2nd October 2009, the Directors of LAC offered to travel to New York to meet representatives of QVT and to explain at length and in detail the present situation in all its complexity, and their plans for LAC. QVT rejected this offer and refused to delay calling the GM.

Two of the Proposed Directors, Brett Miller and Rhys Davies, have a track record in calling GMs as proposed Directors in at least three different companies in order to take control of each company, and to turn them into "short term" realisation vehicles.

On two out of three occasions they were unsuccessful in removing the existing directors and in being appointed to the boards of their targeted companies as replacement directors, with the majority of shareholders turning down their proposals.

5.3 Conflicts of Interest

Mr Simon Littlewood was one of the two Investment Consultants for CGO; he identified, acquired and managed these investments through subsidiaries of LAC. Answers to many of the questions your Directors asked when investigating past activities could only be answered with reference to CGO.

To assist in working through the complex structure of LAC, the Company entered into an agreement in March 2009 with CGO to exchange information on trading and cash movement between the two companies.

In July 2009, CGO unexpectedly stopped the flow of information. We are unaware of the reason behind this action, but if there is a conflict of interest between LAC and CGO then this will be heightened if Mr Brett Miller and Mr Rhys Davies are appointed to your Board.

Further to this, LAC has a number of unanswered questions relating to commission payments made by CGO, and other payments at CGO's direction.