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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Euro. Islamic | EIIB | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 117.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 117.50 | 117.50 |
| Top Posts |
|---|
Posted at 17/2/2012 01:39 by wexboy Hi folks, I've included EIIB in my latest Catalyst article, where I look at 4 interesting companies/situations with activist investor(s) on board: Cheers, Wexboy |
Posted at 02/9/2011 20:44 by wexboy not sure if i've posted on the EIIB thread b4, but after adding to my stake (this has become a top 3 portfolio stock for me now) as price drifted back to GBP 3p level, i thought i'd post my updated fair value analysis:i) starting pt is latest GBP 143.076 mio Equity value, ii) for all negative cashflow cos (and investment cos with an expense ratio > 2.5% of NAV) i deduct 1 yr of (7.309) m estimated underlying cash burn, iii) fair value adjustment for diamondcorp, which i estimate at 1.772 m, and iv) fv adj for completed tritech sale, estimated at 7.194 m - equating to: 143.076 - 7.309 + 1.772 + 7.194 = GBP 144.733 m / 1765.659 m shares = GBP 8.2 p per share, a potential 179% upside from current share price one cd argue that cash burn and specific investments on the b/s argue for a haircut to Book for fair valuation purposes, but i'd point to the margin of safety (Price/Book @ 0.36, and Gross LTV of 19% which cd easily be eliminated with available B/S cash/deposits) & the banking licence (people are significantly underestimating its value in terms of potential future growth and/or takeover value) as reasons to set a basic 1.0 P/B target price i can't assess other potential fair val adjustments on the B/S, so i'll assume they average to zero - otherwise, one cn but hope that EIIB manage to reduce or eliminate cash burn with better returns/lower costs in 2011/future yrs... finally, i'm a little bemused by the ceo/board crowing about their investing success recently...in essence, all they've managed to do is hold equity steady for past 2 years! - i guess it cd be worse!? - however, tritech sale raises an interesting prospect, perhaps one that is going unnoticed currently: the board flagged a potential dividend for 2011... it wd have to be a final div, as tritech sale was nt completed for half-year end - this is quite an about-turn, as yr-end 2010 Retained Earnings were @ GBP 0.629 mio, leaving no real room for a dividend - obviously for year-end 2011 i'm projecting an unchanged Equity balance, but if you drill down to Retained Earnings, it shd reflect annual operating losses (which wd have precluded a dividend) plus full realized gain on tritech (remember that will be the 2010 AND 2011 tritech uplift) - overall, i reckon Retained Earnings will stand at a level that permits a maximum GBP 0.5-0.6p div who knows if they'll actually declare a max div, but why not? - in terms of the current share discount & B/S cash capacity, it's about time the shareholders got some value enhancement, and a div's cheaper to accomplish than another tender - so a potential 18.7% dividend yield is certainly possible! i'd make 2 pts abt this: i) nt clear if there will be any 2012 div capacity, so board may well characterize 2011 as a special dividend, and ii) obviously this div wd be a return of capital/reduction in NAV, so share price may adjust down to compensate - both fair pts, but don't underestimate (less value focused) investors' ability to salivate/obsess over current div yield and it may well draw in (more value focused) fresh investors alerted to the upside potential so, to recap, EIIB has a strong margin of safety, a potential 179% upside to fair value, and a (potential) significant current div yield as a catalyst (edit: plus, of course, the recently built 15.6% stake by private equity house HBG, with their 2 reps recently appointed to the board)! - good luck! |
Posted at 02/2/2011 09:40 by rejawna HBG now own 14% of EIIB.Zawya, Dubai 25th November 2010 - HBG Holdings ("HBG"), a leading UK private equity investor and fund management business specialized in the Middle East, has today announced plans to invest $500 million in small and medium sized enterprises in the United Kingdom. HBG will specifically target companies with potential to expand operations in the United Arab Emirates and the GCC states. |
Posted at 24/1/2011 10:50 by nscap rejawaExcellent. Thank you. I hope you understand that I am not arguing for argument sake here. It is very encouraging that they are hiring. My cynicism has helped me many times hence why I still don't hold shares yet. If anything, I would want to buy a nominal value and get some involvement with the team. My problem thus far (again, unless I have misunderstood) is that diamonds are not a halal investment. Diamonds are priced monopolistically and do not have inherent value like gold. This raises big questions about the credibility of the private equity team (or whoever valued the DCP investment opportunity.) I am not saying that every investor needs to wear a buffet hat. What I am saying is that every manager owes diligence to their shareholders. We are supposed to be investing in their ability to correctly value underlying assets. I feel that an iota of economic analysis would have prevented the debacle property portfolio (few years ago) which again closed at a loss. An investment bank which is writing off losses which could quite easily have been avoided tells me something about their business intelligence. I have "more" faith that the new CEO has created some sort of vision for EIIB. This is a very investable opportunity, but a few things need to change. They cannot scream caution then invest in assets which a non-qualified individual can see will bite them where it hurts. I'm in contemplation to meet the team as I think EIIB is one of the best companies on AIM, and offers the cheapest buy to future potential. |
Posted at 06/7/2009 09:14 by need_2_b_brave this will be taken over as alot of western investors would like to get a hold in middle east, i reckon 15p a share at least. |
Posted at 29/3/2009 12:18 by vlain the selling price is like a yoyo, one day at 2.75 the next day at 3. How is this silly spread going to attract new investors!! |
Posted at 19/9/2007 15:26 by space cowboy TradxIt's nothing material more than conversational based. Sorry, nothing specific has been said. In a nutshell, I don't like companies who mince words in their financial reports, and unfortunately EIIB have been guilty of this in their recent interims. It really winds me up to say the least and I am very disappointed in EIIB. This 700% has fooled many of our amateur investors which (unfortunately) a share like EIIB attracts many. Their LPS is a nothing short of a strategic disgrace. I had a conversation in May with a chap/shareholder in Doha boasting the fact that EIIBs "Property Fund" strategy was going to create huge rewards. Like mronionbahjee2, I was exceptionally skeptical of this. If I was remained a shareholder I would have petitioned the board not to proceed with this venture as it wasn't viable from an economic and domestic (Europe) perspective. They feel that they are on top of the competition which is nonsense. It was a stupid decision to set up such a fund and now it's going to cost them dearly to divest. I did briefly buy in May/June as a strategy to petition the board but quickly sold out because of the time vs cost which would have equated to an overall short term loss. Unless their end of year "Core" activities was to increase another 1000%! (400% approx break even) then I'll resume my short term hope of EIIB. My new target on this is 4p in the short term and £10 + in 10 years time (Subject to a change of strategy in the board! Idiots!) Mronionbahjee2 - I felt that CCH were upto no good back in Feb when I voiced my concerns then. Would never have put them down as a good investment |
Posted at 13/3/2007 10:02 by the hog Yes great little company with enourmous potential growth. Balance Sheet strong and deals in the pipeline. Not on many investors radar at the moment. But IMO that will change this year. |
Posted at 22/2/2007 12:24 by philjeans Hog ; this start up "wannabe" bank is valued today at £192 MILLION!And that's at 10p per share ; original investors paid 25p in the IPO last year! Profit £1.84M on T/O £3.84M!! Valued at £192 Millions!! Way overvalued even now; F/D director resigned within months and they have had to pay for new staff; training; infrastructure; IT etc! |
Posted at 19/2/2007 13:58 by the hog CowboyHave been in OXB for 5 years now. Hopefully I shall be taking my profit soon. With regards to EIIB. I agree this is the problem. Many investors would not be able to understand the business. CCH is a prime example. I have been reading the posts on there today and that just about sums it up. For their sakes I hope they dont take a hammering. Out of interest have a look at Tanfield TAN I cannot find fault with them. DYOR and I think you maybe pleasantly surprised. ....No advice intended Hog |
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