Fibregen Share Discussion Threads

[asparks] 21/7/2008 09:27

if the current directors are all replaced we have some chance

[sg31] 21/7/2008 09:20

Somewhere between nil and zero.

[the shuffle man] 21/7/2008 08:51

What are the chances of getting a new nomad and these coming back from suspension?

[bubface] 20/7/2008 22:07

what is that suppose to mean tt2??

[sg31] 20/7/2008 22:06

TT2,but do you think he give a rats ass.Its a bit like reminding Stalin he had a responsibility not to murder his own people.

[turbotrader2] 20/7/2008 21:43

greensmith has been warned of his responsibility towards us

[bubface] 20/7/2008 17:35

"The joint venture, when in full production, and dependent on carbon pricing, is
estimated to yield a potential net profit of up to
US$880,000 for Evergreen."

i believe this is a per annum figure for maximising current capacity.the production is planned to greatly increase with fairly limited further cap ex the profits will also grow strongly as capacity is ramped up could be many fold fairly quickly.as you say abadan2 seems a "related" price to pay but could actually look good value within a year or so if production goals are met.fbg had no choice but to sell it to solve the put problem.

[abadan2] 20/7/2008 10:57

bubface, why would Evergreen have been prepared to dispose of its shares in these companies to pay effectively £4.5m for a business that has only ever invested $500,000 in a plant that started producing in March (no details of how this has been going) - and it only gets 42% of the business for its £4.5m! Except of course to bail out Fibregen - hardly an arms length transaction. This is a valuation based on the usual wildly optimistic forecasts produced by Greensmith, as evidenced by the various brokers reports that have come out over the last 2 or 3 years. I seem to recall one of these reports forecast profits for LNR/FBG of £9m for last year.

[bubface] 19/7/2008 16:31

abadan2 to satisfy the liability to st peter port after they exercised their put on the 25% minority interest in emerald bio-energy with collateral as they were unlikely to want the chinese jv as cover over the £3.1m still owing.so fibregen took these holdings that were acceptable to st peter port in exchange for the chinese joint venture.

[abadan2] 19/7/2008 13:59

I am keen to know how the valuations of each company/investment were arrived at. One for the authorities, I think.

[sg31] 18/7/2008 18:27

All this fiddling about with cross holdings and transferring shares of the various Greensmith companies from one to another is how we got into this state.

[the shuffle man] 18/7/2008 16:51

The shares in CLN went as well:

Libra Acquisition
Evergreen will acquire securities in Prometheus, Coal International and HaloSource (mentioned above),owned by LNR for an aggregate purchase price of: (a) £2,684,286, to be satisfied on completion by the issue of 2,556,462 Consideration Shares at the price of £1.05 per New Ordinary Share; and (b) if thesecurities being acquired pursuant to the Libra Acquisition are sold for cash by Evergreen prior to 3 October 2008 at a premium to the value that they are acquired, further deferred consideration equivalent to 50 per cent. of such premium will be payable to LNR. This deferred consideration will be satisfied by the 17 issue of New Ordinary Shares at the Relevant Share Price or, at the election of Evergreen, in cash. Further details of the Libra Acquisition can be found at paragraph 12 of Part III of this document.

We have now got back Halo and Waipuna and still have 2,556,462 shares in evergreen worth £894,000.

Seems like a poor deal

[bubface] 18/7/2008 16:49

Libra Acquisition
Evergreen will acquire securities in Prometheus, Coal International and HaloSource (mentioned above),
owned by LNR for an aggregate purchase price of: (a) £2,684,286, to be satisfied on completion by the
issue of 2,556,462 Consideration Shares at the price of £1.05 per New Ordinary Share; and (b) if the
securities being acquired pursuant to the Libra Acquisition are sold for cash by Evergreen prior to 3
October 2008 at a premium to the value that they are acquired, further deferred consideration equivalent
to 50 per cent. of such premium will be payable to LNR. This deferred consideration will be satisfied by the
17
issue of New Ordinary Shares at the Relevant Share Price or, at the election of Evergreen, in cash. Further
details of the Libra Acquisition can be found at paragraph 12 of Part III of this document.
The Group proposes to acquire 1,087,590 ordinary shares in Coal International representing approximately
1.16 per cent. of the issued share capital of Coal International, for a consideration of £331,715. The
acquisition is considered short-term and opportunistic in nature, based on the fundamentals of the target.



so it would appear fbg would be entitled to 50% of any premium over the effective acquisition price of around 30.5p if the holding were sold by evergreen prior to 3 october.currently 62p.
looks like evergreen sold a chunk on 3 june at 58.4p.

[the shuffle man] 18/7/2008 16:39

Bet this isnt worth too much either, how did they get to the valuations ??

Waipuna (www.waipuna.com)
Waipuna is an alternative pesticides company, which has developed a patented organic hot-foam application to control weeds in municipal, agricultural and the home-garden applications. Waipuna's technology has a number of key benefits over existing application methods. It is environmentally-friendly,using no harmful or toxic pesticides or chemicals. Its foam is 100 per cent. organic and biodegradable, as well as cost-competitive. Already operating across Europe and the UK, USA, Australia and New Zealand, the company has filed patents in all three major regions: USA, Europe and Australasia. Importantly, the process yields quick results within hours of treatment. The Group proposes to acquire 1,413,950 ordinary shares in Waipuna, representing 9 per cent. of the current issued ordinary share capital of Waipuna, for an aggregate consideration of 2,901,898.31.

[5bager] 18/7/2008 16:36

does anyone know were the 1.2 million shares in cln went

[the shuffle man] 18/7/2008 16:31

Dont get too exited just found this from Evergreen Web Site:

The Group proposes to acquire 373,118 common shares of HaloSource, representing approximately 1.2per cent. of the issued ordinary share capital of HaloSource, for a consideration of £1,084,000.

That $10m investment just made was for an 11% stake which would value the whole of Halo at $91m or say £46m.

1.2% of £46m = £550,000 so have we lost another £534,000 just from taking back this share from Evergreen.

Not holding up much hope here

[asparks] 18/7/2008 16:26

OK thanks - so any idea what that is worth?

[the shuffle man] 18/7/2008 16:22

The Company has today transferred its contractual interests in its rights to a Chinesejoint venture to Evergreen Securities plc("Evergreen"). The joint venture has constructed and commissioned a demonstration facility on
land owned by a major electricity utility inthe city of Baoying, Jiangsu, China with the intention of significantly expanding thefacility, and to potentially develop additional sites.

Such expansion and development costs are not viewed as core to the Company's growth strategy.

The consideration for this transfer is the payment of £300,000 in cash to the Company, the reduction by £200,000 of a working capital bridge financing provided to the Company by Evergreen, and the transfer of Evergreen's entire holdings in two companies, HaloSource Inc("HaloSource") and Waipuna Holdings Limited("Waipuna") (together the "Securities").

[asparks] 18/7/2008 15:47

who says FBG have any HALO?


"On 19 May 2008 the Company completed the sale of its investments in Prometheus, Coal
International and HaloSource to Evergreen Securities plc for an aggregate consideration of
£2,684,000, satisfied by the issue to the Company of 2,556,462 shares in Evergreen. The
aggregate consideration represented a gain of £403,000 over the book value at 31 December
2007."

[the shuffle man] 18/7/2008 15:45

The potential of Halo looks better than FBG (not hard i suppose).



How much of Halo does FBG now own ??.

Halo would be revlaued at around $100m after the latest fund raising.

[asparks] 18/7/2008 14:26

thanks dovey. Yes I have not lost all hope yet. and as I said I am being cheered up by ASG performance today. incredible!

[dovey21] 18/7/2008 14:25

If that s the case then I sympathise entirely. You never know in this game, somthing good may come of it yet.......time to cross your fingers.

[asparks] 18/7/2008 14:21

dovey - i did email the co. and have done many times in recent weeks - they never reply that is why I know TT2 is lying.

I have £12K invested here. It is now worth about £500