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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Hirco | LSE:HRCO | London | Ordinary Share | IM00B1HYQS19 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 20.25 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
13/10/2014 10:54 | Jurisdiction of the Isle of Man courts confirmed for Hirco trial. Looks like Hirco are focussing on the original acquisition valuation for the land (acquired from Hiranandani companies) of £475m vs Hirco's contention of £160m or less. hxxp://www.hircoplc. | scburbs | |
03/4/2014 07:52 | There is a surprise, winning bid from Hiranandani for Chennai at just above the level of debt! Over 70% below latest valuation. "Hiranandani has emerged as the highest bidder with its Rs 600-crore bid for Hirco Chennai 158-acre township in Chennai that was auctioned by the lender Housing Development Finance Corporation in March to recover its dues. HDFC's dues stood at Rs 539.86 crore, while the reserve price for the township was set at Rs 551 crore." | scburbs | |
10/3/2014 22:13 | Anyone tried trading their holding with N1+singer? | praipus | |
28/2/2014 14:08 | Hiranandani real estate heiress fights dad, brother for share of Rs. 3,000 cr fortune | lbo | |
28/2/2014 14:05 | MUMBAI: The Isle of Man high court has rejected builder Niranjan Hiranandani's plea that the court had no jurisdiction in a case filed against him and daughter Priya Hiranandani-Vandreva In a judgment released on Friday, the court ruled that 'the Isle of Man is clearly the appropriate forum for the determination of the dispute between the parties and we will do our best here on the Isle of Man to determine that dispute expeditiously and fairly.' The court also rejected Hiranandani's contention that notwithstanding the fact that he was Hirco PLC's chairman during the relevant period he owed no duty to the company. 'Hiranandani says he did not owe any duties to PLC in relation to the investment decisions because his role was "effectively that of a seller" and he "was left out" of PLC's decision to invest in the projects. I agree with [Hirco's counsel] that this assertion is belied by Hiranandani's participation in three of the four board meetings at which Plc decided to invest in the projects. The claimants raise serious claims against Hiranandani in his capacity as a director of PLC. Hiranandani's position as a director is at the heart of the claimants' case against him,' it said. | lbo | |
20/2/2014 15:37 | Hirco plc Cancellation of Admission RNS Number : 5637A Hirco plc 20 February 2014 20 February 2014 HIRCO PLC ("Hirco", the "Company") Cancellation of admission On 15 August 2013, Hirco requested the suspension of trading of its shares on AIM pending clarity on its financial position due to various enforcement matters relating to the Indian project companies owned by interests associated with the Hiranandani family and in which Hirco invested through participating preference shares. As detailed below, Hirco has endeavoured over the last six months to obtain accurate information from various Hiranandani-controll Pursuant to AIM Rule 41, where a company's shares have been suspended from trading for six months the admission of these shares will be cancelled. As a consequence of the application of this rule, the last day of admission on AIM is today and the cancellation is expected to take effect on 7.00 a.m. on 21 February 2014. Shareholders are advised that with effect from cancellation the Company's broker, N+1 Singer, has agreed to create and maintain a share trading and settlement facility for the Company. Under this facility shareholders or persons wishing to acquire shares will be able to leave an indication with N+1 Singer that they are prepared to buy or sell at an agreed price. In the event that N+1 Singer is able to match that order with an opposite sell or buy instruction, N+1 Singer will contact both parties and then effect the order. Notwithstanding that Hirco will no longer be quoted on AIM, the Directors will continue to keep shareholders apprised of their efforts to obtain legal redress from Hirco's former Chairman, Niranjan Hiranandani, and CEO, Priya Hiranandani-Vandreva These claims now seek damages of £303 million plus costs and attorneys' fees. Hirco's Board notes: · Hirco invested over £350 million in township development projects in Panvel and Chennai, India. The Hiranandani family sponsored these projects and the bulk of the £350 million was transferred into offshore bank accounts Hiranandani family members ultimately controlled. · Notwithstanding this £350 million investment, Hirco has been unable to obtain coherent information about the Panvel and Chennai township projects. · Based on information the Hiranandani-controll · According to a Cushman & Wakefield valuation the Hiranandani-controll · As of December 2013, the debt secured against these assets amounted to only approximately £101 million. According to a December 2013 report in the Times of India, one of the Hiranandani-controll · Notwithstanding the projects' asset value and substantial cash collections, the Hiranandani-controll · Hirco has concerns about the transparency of the sale processes and whether they will realise values for the Panvel and Chennai assets in accordance with the Cushman & Wakefield valuation noted above. Such concern is amplified as a result of comments published in the Indian press that the purchasers most likely to be interested in the assets are Hiranandani controlled entities. · Hirco has repeatedly written to the directors of the Hiranandani-controll · In addition, Hirco asked HDPL: (i) why the Hiranandani-controll (ii) the plans they had made to repay those obligations; (iii) when HDPL first realized that those plans were insufficient to repay the obligations in a timely manner; (iv) the steps HDPL took to locate other sources of cash to repay those obligations; (v) the steps HDPL took with those lending institutions to restructure that debt. · Hirco has also submitted a written request to the Directors of the Hiranandani-controll · To date, Hirco's letters have been ignored and no internationally respected auditing firm has been asked to audit the Hiranandani-controll Hirco will continue to pursue its legal claims for fraud and other misconduct against Niranjan Hiranandani and Priya Hiranandani-Vandreva -ENDS- For further information please contact: IOMA Fund and Investment Management Limited Tel: +44 (0)1624 681250 Philip Scales N+1 Singer Tel: +44 (0) 20 7 496 3000 James Maxwell/Nick Donovan MHP Communications Tel: +44 (0)20 3128 8100 Andrew Leach/Tim McCall/Jade Neal This information is provided by RNS The company news service from the London Stock Exchange END MSCLLFVVFIIIFIS | rj allen | |
10/12/2013 10:20 | MUMBAI: One of the most prominent FDI-compliant real estate projects in India is headed for trouble. Hirco Plc, which in 2006 raised about £350 million (Rs 3,000 crore then) from global investors for projects controlled by developer Niranjan Hiranandani and his family in Panvel and Chennai, wants its money back. | lbo | |
10/12/2013 10:16 | Hirco Plc, a UK based investment firm, has filed a law suit against its former chairman, developer Niranjan Hiranandani and his daughter Priya, in an Isle of Man court demanding 220 million pounds (about Rs 2,200 crore) in damages. Hirco Plc, which is listed on London's Alternate Investment Market, has been named in a loan default cases involving two construction projects in Chennai and Panvel | lbo | |
26/11/2013 14:16 | dont know Lars upped his stake just before suspension. | praipus | |
26/11/2013 08:36 | lol !!!!!! A bit late now isint it ? | hvs | |
26/11/2013 08:34 | Weiss non-exec resigns | praipus | |
26/11/2013 06:58 | INDIAN CHORE in LONDON. | hvs | |
08/11/2013 10:45 | Anyone see any significance in the holding RNS? Looks like some shares acquired. | loverat | |
10/10/2013 13:25 | INDIANS have NO SHAME. Corrupt to the CAROER. Shameless RACE | hvs | |
29/9/2013 17:09 | Been trying to read up on the background and history to the parties and various ongoing disputes. Very difficult to understand what on earth might be going on behind the scenes and the current position of each interested party. It is a complete mess and even the company statements do not help much in all honesty. My best guess is that a highly complex game of brinkmanship is ongoing and has been for a while. Personal greed probably the usual factor mixed in with the most amazing and spiteful childish behaviour imaginable. As Robbie Fowler might say - they are acting like a bunch of girls. | loverat | |
19/9/2013 12:40 | hmm no surprise there | praipus | |
15/8/2013 18:38 | Potential £100m would equate to £1 a share. Unfortunately time scale would be quite flaky. Would be better off agreeing to a lower no strings attached offer. 60-65p would probably be enough. Weiss could walk away saving face. Sure they are equally sick of matters. | horndean eagle | |
15/8/2013 18:13 | mrwhits I bought a relatively tiny amount the other day. Not that concerned really and perhaps this act will bring matters to a head. I think there is some potential value here once some of these matters have been clarified. I'd be interested in other views from those who know the business. | loverat | |
15/8/2013 12:36 | @loverat, hope you didn't dive in, regards | mrwhits1 |
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