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Eur.Conv.Dev Share Chat - ECDC

Share Name Share Symbol Market Type Share ISIN Share Description
Eur.Conv.Dev LSE:ECDC London Ordinary Share GB00B1BJRB27 ORD EUR0.80
  Price Change Price Change % Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00 +0.00% 0.07 0.00 0.00 - - - 0 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 0.0 -1.2 -1.3 - 6.30

Eur.Conv.Dev Bulletin Board

DateSubjectDiscuss
18/9/2014
19:28
"for a cash consideration of EUR1,699,298 to Property Capital Group AD¨" are any of the following linked to the co. that made the purchase ?! (ie. selling to themselves....perhaps at lower than the real value) (cynical ?, moi !) Alexander Whammond Charlemagne... Jim Mellon
by smithie6 on ECDC Real estate Bulgaria/Romania discount 90% on NAV 50% on cash
11/9/2014
16:47
.....once a dodgy gang...always a dodgy gang imho Noting 1) there is no reqt. to return any cash to shareholders as cash 2) if the co. is unlisted.....and no cash back to shareholders...then shareholders remain ...trapped... and the mngmt..esp. Alexander Whammond and Charlemagne...(which has Jim Mellon as a large shareholder) ..can continue to milk the assets as they have over the last X years.... Alexander Whammond Charlemagne... Jim Mellon for trust or honourability...I personally give them each 0 out of 10. (Jim Mellon....look at his deals at Manx Financial and Charl. and AW in their creation and operation of ECDC and disgraceful opaque reporting to shareholders not to mention their blatant and wildly high costs taken each year from the shareholders assets they have never given a damn for the shareholders imo... why would that change now ?! And unlisted they are even further away from the hands of any rules and regulations. Who knows what they will do....or what new rules they will put in place AFTER de-listed.
by smithie6 on ECDC Real estate Bulgaria/Romania discount 90% on NAV 50% on cash
10/9/2014
14:55
Good news on the revised investment management agreement. Surprised not more interest here.
by horndean eagle on ECDC Real estate Bulgaria/Romania discount 90% on NAV 50% on cash
07/8/2014
10:26
ECDC accounts are a disgrace imo...if not illegal very little real data.....with pages of blah blah about Rumania and Bulgarian economies and property sale mkts...and for that Charlemagne charge 1M !! charging 1M is insane....when all the investments are in separate companies...that have own bods that also incur costs.....why or how Charlemagne charge 1M just to report what those other bods have or have not done....is nuts ! but Charlemagne exists to make money......so the ECDC bod (Charlemagne controlled) allow Charlemagne the manager to charge as much as they can.... ---- I asked the co. some basic questions about the accounts and I was told to look at section X of the accounts from 4 years ago....and section Y of accounts from 6 years ago !! Illegal imho. The accounts are required by law to give a true and fair report to shareholders....of all material information. Not including material data because it is in section X of the accounts from 4 years ago....and section Y of accounts from 6 years ago does not meet the reqt. to give true and fair reporting. ....it is intentional opaque reporting. But hey...London mkts...owned by the brokers....Charlemagne is probably one of those owners. So a cesspit of non-control is perhaps to be expected.
by smithie6 on ECDC Real estate Bulgaria/Romania discount 90% on NAV 50% on cash
29/6/2014
21:18
via the NEF structure...does that mean that Charlemagne can charge 2 times in a row on the same assets !!? I think so since they charge at NEF and they charge 2% of the NAV of ECDC so they get to charge again...imo...on the same assets... and one could argue that the assets of the shareholders....slowly get moved into the hands of Charlemagne !......and then they maybe declare...sorry ...nothing left ! --- OCH msg brd. is worth reading for anyone that doesnt know it... to see how property management can sometimes operate...for benefit of the property managers....and the issuing broker.....and against the shareholders... Greedfear...you know OCH already I think...
by smithie6 on ECDC Real estate Bulgaria/Romania discount 90% on NAV 50% on cash
29/6/2014
21:13
Ah ha Thanks for that info. Ive sold out...you ? ---- "Charlemagne is managing NEF 3 and it looks like they're charging 1/3 of the NEF 3 revenues for it." adds to my concerns about high costs charged for managing ECDC by Charlemagne... total costs are 1M euros....insane.
by smithie6 on ECDC Real estate Bulgaria/Romania discount 90% on NAV 50% on cash
26/6/2014
15:33
The NEF 3 loan can do a lot of harm to ECDC shareholder value. The only real asset of value is Cascade. Cascade is currently loaning from NEF 3 at a 27.5% interest rate (compounding) and is really eating up the value. If this goes on in 4-5 years time the current value (15 million or so) of ECDC's investment in Cascade will be evaporated. Charlemagne is managing NEF 3 and it looks like they're charging 1/3 of the NEF 3 revenues for it. Can't say for sure they do, but it looks like NEF 3 costs are something like 1/3 of revenues. What kind of costs can a vehicle that only has one asset (a loan to Cascade) have? You tell me.
by greedfear on ECDC Real estate Bulgaria/Romania discount 90% on NAV 50% on cash
23/6/2014
09:59
No real surprises in final results, but: DELISTING ???!!! I really hate delistings. Must say, I'm surprised the share price is where it is. I've been in delisting scenarios before and it has always been a total fiasco for the share price. Maybe this time it will be different....
by greedfear on ECDC Real estate Bulgaria/Romania discount 90% on NAV 50% on cash
14/2/2014
12:24
Horndean Eagle.....you bring any HSB with you !??
by smithie6 on ECDC Real estate Bulgaria/Romania discount 90% on NAV 50% on cash
14/2/2014
12:22
http://www.investegate.co.uk/globalworth-real-est--gwi-/rns/bank-facility-signed-with-ubs/201402140700090694A/
by horndean eagle on ECDC Real estate Bulgaria/Romania discount 90% on NAV 50% on cash
14/2/2014
11:19
quote from a property fund for Eastern EUrope 20th Sept 2013 "Romania The IMF recently revised the annual economic growth forecast for Romanian GDP to 2% in 2013 and 2.25% in 2014. Previously, the figures were 1.6% and 2%. The improved projections were based on 'strong exports in the first part of the year'. " - growth projection increased (rather than decreased) much of Europe would be exstatic to have 2.25 % growth....
by smithie6 on ECDC Real estate Bulgaria/Romania discount 90% on NAV 50% on cash
14/2/2014
07:20
Positive news; http://www.balkans.com/open-news.php?uniquenumber=188943
by 27ben on ECDC Real estate Bulgaria/Romania discount 90% on NAV 50% on cash
14/2/2014
00:32
Thanks. Good news for ECDC shareholders: "The Romanian real estate market has every chance of becoming important to investment funds in the next 18 months, as the foreign mature markets recover, according to David Tiplea, EY Tax&Law, Business Development Leader Central and South-East Europe. "Aside from the transactions involving individual assets, we are very likely to see the selling of entire portfolios by the big holders of real estate assets which are not developers or investors." (Source: capital.ro; Date: 2014-02-07; Author: Unspecified"
by greedfear on ECDC Real estate Bulgaria/Romania discount 90% on NAV 50% on cash
13/2/2014
16:15
Greedfear I see you started this thread in Dec 2011 good timing ! did you manage to buy any in the dip around then....when the price went to its low of lows ?
by smithie6 on ECDC Real estate Bulgaria/Romania discount 90% on NAV 50% on cash
13/2/2014
14:54
you cant buy 500 quids worth on line but you can sell 1500 quids worth on line imho the MM wants to get stock...and doesnt want to sell ANY which could infer that this is hopefully going up, at some time
by smithie6 on ECDC Real estate Bulgaria/Romania discount 90% on NAV 50% on cash
13/2/2014
11:24
ECDC ....looks like a strong hold to me ---- bit of a shame the disastrous management of ECDC by Mr Whamond and Charlemagne who have turned maybe 80 M euros into a cap. value of under 10ME. original investors have been well and truly shafted, or robbed (a good part of their money is now in Charlemagne's pockets via high fees for their incompetent management) but for those investing now and since the low in 2012.....imo it looks good Cascade looks to possibly have significant value and noticeably cashflow positive imo (and personally, I would be happy if Mr Whamond and Charlemagne are replaced....with managers with lower annual cost and with separation between the bod and the inv. manager, as recommended by the Good Governance rules). One Lesson perhaps dont invest in any Charlemagne IPO ! ---- INSIDER trading perhaps ? in Jan. a co. with a Mr Patel as director (and previously with a diff. Patel as co. secretary ) bt. 300-350k pnds worth of ECDC shares "after" the year end but before the issuing of accounts I note that the controllers of ECDC and its inv. manager are all Charlemagne ...specialises in investing in Asia....and has Asian names included in the bod Patel is an Asian name A cynic might wonder if 'Patel' now has to scratch Charlemagne's back in return.... or maybe this is C. returning a prev. backscratch or favour. (it is common in London that if a large investor or 'friend' loses money with one investment (eg. investing in ECDC at the IPO price)....that the managers will try to help that investor out in return later on....in order to maintain that investor as a friend and as a client) imo the C. fund sold their stake to avoid it being visible to clients of C. and avoid damaging the arriving of new money for 'funds under management' (imo if new clients saw that C. had turned 80ME into say 10ME at ECDC then they might not be so keen to invest in current funds from C. or to invest so much) --- ECDC is traded on a London market, famous for corruption and insider dealing ...so if there was insider trading it wouldnt surprise me... in the USA they investigate insider trading....and people go to prison... not in the UK ---- to repeat ....looks like a strong hold to me
by smithie6 on ECDC Real estate Bulgaria/Romania discount 90% on NAV 50% on cash
12/2/2014
10:13
Greed You have e-mail!
by 27ben on ECDC Real estate Bulgaria/Romania discount 90% on NAV 50% on cash
12/2/2014
09:41
Thank you all for the support thus far! :)
by greedfear on ECDC Real estate Bulgaria/Romania discount 90% on NAV 50% on cash
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