Craven House Capital Share Discussion Threads

[karina] 25/11/2015 10:21

You can message me through ADVFN if you wish to oxs.

Are you holding CRV out of interest?

[oxs] 25/11/2015 10:17

Karina - can you please email me [e-mail]

I might have something of interest.

[karina] 25/11/2015 10:09

That's a very good point Camkite, maybe the results will surprise us?

There have been management changes at Pressfit

Royalty Sports have doubled their sales force and restructured

Ebola has just about been eradicated fro Guinea so FLOA could be revalued at some point

And here's a new one - Shares in EmVest Evergreen Properties (Pty) Ltd valued at £493,514, representing a 49% holding. These have been valued at the price paid by Craven House Capital as the Directors believe that this is the best indication of the value at the period end. Susan Payne confirmed this factory would cost $17 million dollars to build and yet its being valued here at £987,000 because that's what was paid. They have to revalue this at some point surely?

[karina] 25/11/2015 10:08

Camkite
Posts: 910
Off Topic
Opinion: No Opinion
Price: 1.00
RE: LatestToday 09:04Karina -

Not to be forgotten from the last interim results "In the period several of our holdings have undergone significant restructuring. We believe this will result in enhanced earnings and increased valuations in future periods."

[karina] 25/11/2015 09:37

Can I bill you at my normal hourly rate oxs !? ;-)

Mark/Desmonds have never sold a CRV share to the very best of my knowledge. The tear sheet is woefully out of date.

Yes TBC/Depston/Royalty Sports or whatever they are called this week sold their shares. They have however restructured and doubled their presence in SA since acquisition. CRVs problem was they were buying distressed companies with shares, causing dilution, that were then of course sold (at a loss). With funding behind them and cash in the bank this chapter is well and truly behind us.

I believe Susan Payne purchased some of the Emvest holding which I take as an excellent sign

CRV and Spark are well aware the tear sheet is over 6 months old. I guess they have bigger fish to fry. Are you aware Sir David Jones owns 6.23%? He occasionally posts on here and LSE

The 22.4% is wrong I believe and should be 24.2% which is Marks holding (Desmonds) of 21.8% plus Emvest Mauritius (Mark again) who hold 2.4%.

The tear sheet when its updated then should account for 69% of the issued shares. Add in the 8 figure holdings many of us have and those that wouldn't dream of being on BBs and it doesn't leave many in free float.

[oxs] 25/11/2015 09:18

Karina - The 22% that is not held in public hands is that marks shareholding? does he hold them through desmonds? and also what happened to the circa 55m shares that he held in 2011?

[oxs] 25/11/2015 09:16

Karina - Nice onw, good detailed responce.

Just a couple more questions - is Mark still holding all of his shares ?

And TBC the south african distributor, i take it they have sold out as they are not on the register ?

Also as i said the other day it does look like EMVEST will have been the sellers, as per rns they sold out to bellow 3% which means they did not have to declair their holding again afte that milestone, there is no obligation to declair.

TBH I think the MGNT need to clarify the regiser a little ore, its obviously not on the top of their agenda but it can be off putting to investors.

[karina] 25/11/2015 08:47

645 to buy still so will show as a sell..... Good old MMs

[karina] 25/11/2015 07:52

Thanks Scargs, sadly I had already been up for 2 hours.....

[scargs] 25/11/2015 07:47

Thanks a million Karina for your response and explanation this morning to OXS's question.

I'm also really impressed that you are able to think so clearly at 07.03!!!!

Well done.

Scargs

[karina] 25/11/2015 07:35

Cheers DC

Of course CRV as they stand have assets worth more than the MC even when hugely understated in some cases, cash in the bank, no debt and minimal outgoings. The fundamentals that brought me here a few years ago do have their own significant merit.

[daicaprice] 25/11/2015 07:26

Excellent summary and thoughts K, thanks.

DC

[karina] 25/11/2015 07:03

Morning oxs

In a nutshell - the investors I know here feel there is either a takeover or RTO on the cards as

1 Craven Industrial Holdings Plc was recently set up in Ireland with the same directors as Qeton. CRV had to give permission for the creation of this company. They can issue up to 500,000,000 shares

2 Qeton are involved in a deal with Desmonds and AP Vos, a macadamia nut producer next door to CRVs holding Emvest Evergreen in SA. Desmonds require many, many millions to complete this deal that to the best of my knowledge they do not have currently.

3 Emvest CEO Susan Payne is a share holder in CRV and worked at GEM who have signed the £30m funding agreement with CRV

4 Mark and Evan (who at a best guess has invested £800k to £900k in CRV) would be unable to dispose of their share holdings on the open market so I expect there to be a transaction where CRVs shares are either hugely re rated or taken over

5 GEM have signed the agreement with next to no caveats on the use of the money, ie they must already know the nuts and bolts of the deal and they need the share price over 1.25 before they make a penny profit.

6 Evan recently changed his residency from the US to the UK where we have a more generous capital gains tax regime, may just prefer the weather in the UK I suppose.

7 Mark does not draw a salary from CRV taking his income in CRV shares at 1.25p, he is therefore expecting a very healthy return for his years of effort. I don't know the man, indeed he has a public profile MI5 would be proud of, but there is only so long you can claim to be working on transformational deals and not deliver if you aim to retain an ounce of professional/city dignity.

That's why I am not going to lose sleep over the number in this years results, there is much more significant news to come.

All IMHO, DYOR WTFDIK etc etc

[oxs] 25/11/2015 02:40

Karina - can you possibly explain what you mean by this which you wrote above? "they are buying into the grander plans of Qeton, Vos, Desmonds and Craven Industrial Holdings Plc"

[karina] 24/11/2015 10:39

Looks to me like they wanted to kill the buying momentum, then hit a few stop loses simply because they can. Its worked, for now......

[karina] 23/11/2015 16:14

They have had the hotel money come in so they will look healthier.

However I think anyone buying now is not investing in the CRV that I have been invested in for the last few years, they are buying into the grander plans of Qeton, Vos, Desmonds and Craven Industrial Holdings Plc, hence the results, to me at least, are almost a side show.

I will be reading the Chairmans statement first, the unsocial AGM date/location second, then the numbers.....

[oxs] 23/11/2015 16:02

I only mention it could be them as they were selling earlier in the year...

You don't sound overly confident on the results, do you think much like last year they will be loss making of about 500k ?

[karina] 23/11/2015 15:51

Did you get the 500k ? Beat me to it !!!

[fenseal3] 23/11/2015 15:47

Thanks mm's...added more 8-)

[karina] 23/11/2015 14:16

I used to have emails and text messages with the NED but that all stopped some months ago as did phone contact a friend of mine used to have regularly.

I think there's every chance CRV will be under the microscope at some point soon so I do understand why they want to run a tight ship at the moment, as frustrating as it is.

I cannot see it being Emvest selling oxs, Susan Payne is the CEO of Emvest in which CRV have 49% stakes in some jointly held assets. Susan was also at GEM for many years so must surely have played some part in the recent funding and holds 3.5% of CRV.

It wouldn't surprise me if we simply hit someones order, ie they bought at 325 and thought placing a speculative open order to double their money made sense.

If the tear sheet is ever updated it may tell us more.

[oxs] 23/11/2015 13:52

Karina - Nice summary and i agree that the deal is what will add a considerable valuation on the mcap..

It would be interesting to see if they have managed to turn the pressfit situ around.. equally wether thy intend on progressing with the farming food processing in Africa.. it does seem a little off that they have not bothered to update the market or even reply to your emails.

Have you ever managed to make contact with the BOD either by phone or email?

I guess our seller is most likely to be emvest ?

[karina] 23/11/2015 13:34

I do not I am afraid, I have asked, as have others, without reply. My money is on Friday but they have to be out by Monday.

I fully expect the results to be flat, ie continuing to value assets at purchase cost irrespective of progress and growth since acquisition, yet quick to write down whenever possible.

We are LONG overdue meaningful updates on current assets.....

What is of much greater interest will be Marks comments on progress YTD and if he makes reference to the GEM deal. As GEM have not yet released news of their agreement it would not surprise me at all if no comment is made at this time, but I sincerely hope that is not the case.

Lets face it CRV/Spark cannot do a worse job on updating the market than they did in the interims but oddly for an AIM investment, the results are not what counts here. CRV have always been hugely publicity shy so the GEM RNS being released says to me we do not have that long a wait.

There is a deal being done, GEM know what it is and I would suggest Evan K knows. Us mere mortals just have to stay patient.

[oxs] 23/11/2015 13:21

Karina - do you know what date the FY results are due ?

[oxs] 23/11/2015 12:33

That said - large 806,451 trade could have been the last of it as it was a random number... guess we will see when the buyers come back in.