Berkeley Technology Share Discussion Threads

[the diviner] 27/10/2009 19:24

Hi HugePants,

From what I can tell the list of major shareholders is as follows:

Major Shareholders

Berkeley Technology Ltd
Major ShareholdersShares in issue:64.4mUS$0.05 Ords Name Amount % Holding

Arthur Irwin Trueger 19,260,693 29.89
London Pacific Grp Share Schme 13,084,681 20.31
SC Fundamental Value Fund LP 5,634,240 8.74
Peter Gyllenhammer(dup & dup A) 5,175,000 8.03
SC Fundamental Value BVI Ltd 4,079,970 6.33
Bronsstadet AB(dup) 3,130,000 4.86
Uni Discount Co of London Ltd(dup A) 2,045,000 3.17
Other Directors Name Amount % Holding
Victor A Hebert 45,000 0.070

Regards,
TD

[hugepants] 27/10/2009 14:18

The accounts dont list the major shareholders. Anyone have a list?

[hugepants] 27/10/2009 14:16

"...We expect operating expenses in LPAL for the remainder of 2009 to decline
as we move toward dissolution of the company as discussed above.."

[hugepants] 26/10/2009 10:36

I think "corporate expenses" are about 1.5M dollars. I assume that encompasses directors salaries, listing costs etc. Actually Im not sure how to get to 3M dollars for a company of this size. That is unless the employees are also on huge salaries.

[brwo349] 25/10/2009 15:08

I've just read through 300 posts and I still don't know what this company does.
The 10-K says there are only 6 employees but why are the operating costs $3 million.

[hugepants] 23/10/2009 12:57

"We expect quarterly expenses to fall by approximately $0.2 million starting in the third quarter of 2009 after severance costs "


That will bring quarterly costs down to $0.7M. Still too high, and I dont know how they can justify it, but at least heading in the right direction.
Also with LPAL shutting down they dont need the Jersey office any more.

[hugepants] 22/10/2009 12:09

BEK are also due a final payment from the Enron debacle.


In December 2008, LPAL received a $1.37 million partial distribution from the Enron Corporation securities litigation. LPAL held certain Enron Corporation publicly traded bonds which it sold at a loss in 2002. This payment recovers part of LPAL's realized loss on the Enron Corporation bonds recognized in 2002. LPAL expects to receive the final Enron distribution in the second half of 2009, but the amount of this final distribution is currently uncertain.

The RNS on 19th January said 5 billion out of the total 7 Billion compensation pot had been paid out so BEK could receive another $500,000. There is no provision in the accounts for this payment.

[hugepants] 20/10/2009 15:38

The cash is now being moved out of the subsidiary to the parent:


During the second quarter of 2009, as approved by the Jersey Financial Services Commission ('JFSC'), LPAL distributed a total of $9.0 million in cash to the Company. Also during the second quarter of 2009, the directors of LPAL submitted a Cessation of Business Plan ('COBP') to the JFSC and, subject to the satisfactory completion of the COBP, the JFSC should be able to cancel LPAL's insurance permit. At that point, LPAL will no longer be regulated by the JFSC and the Company will move toward the dissolution of LPAL as soon as practicable.

[hugepants] 20/10/2009 15:38

Assuming no equity value to the employee benefit trust shares (so effectively 51.7M shares in issue) then BEK had 14p net cash per share at end of June 09. And an additional 1.5p per share in private equity investments.

Cash burn should be about 2.25p per share per annum if we assume no increase in revenues.

Current share price is 4p. Says it all really.

[flojo] 07/9/2009 08:58

If you want a multibagger ,look at INDY soon.Please DYOR.

[philut] 27/8/2009 15:58

Couple of small buys on Plus market. If you want to see these on your monitor, type in bek.gb then click on ADD.

[philut] 13/8/2009 09:13

Found it, the link is



Still more of the same, milking the company cash doing nothing.

[philut] 13/8/2009 09:03

Stew, pulled up the report via Advfn news and saw 82.4 million profit, then realised they've attached Tomkins report in error, Lol.

[eldermon] 04/8/2009 19:03

well the last accounts posted above for Q1 2009 showed assets of approx $14M which is more than most banks these days, lol

[jotoha2] 04/8/2009 14:54

Wow is this company still trading, I did warn back in 2004 that they would milk it dry , so how much is left in the kitty?

[hugepants] 15/5/2009 07:56

Q1 results out


Real garbage.

[hotter] 12/5/2009 22:33

good post Adam

[stewjames] 08/5/2009 16:59

Those salaries are utterly sick for a company that basically does nothing these days.

[hugepants] 05/5/2009 19:24

Thanks for the info. I think I'll join you and vote against everything.

[adam] 04/5/2009 21:29

Jersey Museum, Ouless Room, The Weighbridge, St. Helier, Jersey, Channel Islands on Friday 31st July, 2009 @ 9.00 am

Ordinary business
1. To receive the report of the directors and the financial statements... etc
2. TO re-elect Harold E. Hughes Jr who is retiring by rotation
3. To re-appoint BDO Stoy Hayward LLP as the company's independent auditors... etc

Other Business
4. To act on any other matters that may properly come before the meeting.

By order of the board
Robert A. Cornman
Secretary..

April 29, 2009


... I am voting against all resolutions including re-election of Harold E Hughes.

You can vote by proxy through your nominee - most will not send you the AGM and proxy card, so you need to contact them.

[hugepants] 04/5/2009 00:17

"Corporate expenses increased by $0.5 million to $1.9 million in 2008,
compared to $1.4 million in 2007. This increase was due to a $0.1 million
increase in professional services costs, a $0.1 million write-off in web
development costs paid to a third party vendor subsequent to our decision not to
go forward with a web based project..."

$100,000 down the toilet.