Livermore Investments Share Discussion Threads

[fozzyb] 09/7/2007 14:46

please note 38.3m is in swiss francs, CHF, which is at 3 yr low against the sickly dollar so making it even better value.

About 31.5m USD at todays rate of 1 usd = 1.216 CHF

[fozzyb] 09/7/2007 14:41

So comments on above?

Mine

1. It assures shareholders Livermore is committed to the agm approved investment strategy.
2. It means AIM listing and share liquidity is maintained (unless it goes private - still very possible)
3. The deal seems solid with assured tenants. Rent should be worth approaching £25m once inflation factored in, not bad with costing just 38.3m
4. Solid 8% projected yield, again juicy and should maintain share dividend levels.
5. Extra upside from deal comes from further development and capital appreciation. Limited quality commercial land and preferential non-EU status in switzerland should shore up prices and maintain international interest in doing business in prestigious Switzerland. (eg Nissan moving its luxury brand Infinity here - not yet common knowledge)

All in all, a cracking deal, but returns not going to be realised for some time, we need the 39 apartments to sell in 2008/9 and the hopeful further 8000 sq ft rights but, this is the best news we could have had.

I shall not be selling anytime soon, may even add now...

[fozzyb] 09/7/2007 14:33

AND NOW THE BIG ONE WE HAVE BEEN WAITING FOR!!!!!!!!!!!!

1ST INVESTMENT MADE, SO NOW DE-LISTING BY AIM, (ALTHOUGH IT CAN STILL BE TAKEN PRIVATE)

First Real Estate Acquisition of Wylerpark in Bern, Switzerland for CHF110
million


Livermore is pleased to announce the completion of its first real estate
investment. Livermore has purchased a 34,000 square metre commercial freehold
property, Wylerpark, in Bern, Switzerland, from the Swiss national railway
company, SBB. The acquisition is being made on a sale and lease back basis for
CHF93.5 million (#38.3 million) and is the first of this kind to be completed by
SBB.

The commercial premises, which include 4,800 square metres of office space
currently occupied by SBB (Wyler1) and 13, 200 square metres of newly built
office space (Wyler 2) will be leased by SBB for a minimum of twelve years under
the terms of the deal. The total annual rent of these premises is CHF4.3 million
(#1.77 million) for the first twelve months, which will be fully indexed to the
Swiss consumer price index on an annual basis.

Livermore has also agreed to build 39 luxury apartments overlooking the Alps on
the acquired land, which are expected to be completed in 2008 at a total cost of
CHF16 million. The project further includes rights over 8,000 square metres for
future commercial development, which Livermore intends to pursue.

Following the development of the residential assets, Livermore expects to
generate a return on equity on this investment in excess of 8 per cent and
anticipates generating further gains from exercising the additional development
rights.

Livermore will establish a wholly owned special purpose vehicle (SPV)
incorporated in Switzerland to purchase this asset, 85 per cent of which will be
financed though non-recourse debt to the SPV, with the balance through equity.

Within the Company's overall investment strategy, Livermore is currently dealing
with a massive deal flow and intends to establish a real estate portfolio in a
range of US$1 billion. Such assets would be predominantly located in
Switzerland, generating secure income streams from tenants with high credit
ratings, where possible.

Noam Lanir, Chief Executive Officer of Livermore, commented, "the purchase of
Wylerpark will grant Livermore ownership in one of the highest quality
properties in Switzerland and gives us a foothold in the Swiss real estate
market, in which we intend to extend our investment activities. This investment
will generate a secure income stream from a AAA-rated tenant and potentially
provide additional yield enhancement through the development of the accompanying
residential project and the additional commercial development rights."

Contact:

Michael Sandler, Hudson Sandler

Tel: [phone]


Notes to Editors

The Swiss Railway, SBB, is the biggest travel and transport company in
Switzerland. It is wholly-owned by the Swiss Confederation which is rated 'AAA'
by Standard & Poor's. Wylerpark is located near the centre of Bern. This
industrial area, formerly used for freight purposes by SBB, is currently
undergoing development, which will result in a mixed-use zone of offices and
residential premises. This development is based on an architectural competition
organised by SBB Immobilien in 2004 on the whole area and won by the team of
architect Rolf Muhlethaler from Bern. This acquisition is the result of an
auction process managed by CBRE.

Livermore is an international investment company trading on the AIM market of
London stock exchange. The Company currently has US$300m available for
investments globally and its strategy is to generate superior returns for
shareholders through shrewd investment across private equity, public equities
and real estate.

[fozzyb] 09/7/2007 14:27

We now have shareholding as following

Lanir - 45.5%
Groveton Management - 21.4%
Aviv Raiz - 8.65%
Glisson - 6%
New Star Asset Management - 5.55%

=87.1%

I am not sure about Glisson or whether Groveton is included in Lanir - will probably correct this post later..

[fozzyb] 09/7/2007 14:22

see above link for photo and below. No doubt this guy is a 'Lanir crony'

Aviv Raiz


Aviv Raiz is a member of the Israeli business community and is the lead investor behind several successful startups. Mr. Raiz is the president and sole owner of Eurotrust Ltd., a well known foreign exchange company which has some of Israel's foremost companies as its clients. For the past 10 years Mr. Raiz has invested in several high tech, biotech and real-estate companies, vastly diversifying his investment interests.

Mr. Raiz holds a BA in Economics and Political Science from the Tel Aviv University and an MBA in Finance.

[fozzyb] 09/7/2007 14:21

Been quiet on here but nothing new there!

Few rns out lately, to summarise


14/06/07
The Company was informed on 13 June 2007 that Mr Aviv Raiz now holds an interest
in 24,578,931 ordinary shares in the Company, representing approximately 8.65%
of the voting rights over the Company's issued share capital.

27/06/07

Livermore Investments Group Limited ("the Company) announces that Andrew Burns,
Finance Director, will be leaving the Company at the end of August 2007.

The Board intends to appoint Ron Baron as an Executive Director fulfilling the
role of Chief Investment Officer. Ron has extensive investment management and M&
A experience. He served during 2001-2006 as Member of the Management in Bank
Leumi, Switzerland and was responsible for Portfolio Management activity. Prior
to that he worked for five years as a lawyer, advising on Banking issues and M&A
transactions in Israel. He holds an MBA from INSEAD, Fontainebleau and an LLB
(law) and BA (economics) from Tel Aviv University.

Noam Lanir, Chief Executive of Livermore Investments Group Limited commented, "
Andrew has been an important member of the team throughout the Company's
transformation from on-line gaming to fund management. Our investment management
activity is developing well and, on behalf of the Board, I would like to thank
Andrew for his significant contribution and wish him all the best in his new
role."

28/06/07 - holdings change

Livermore Investments Group Limited ("Livermore" or "the Company")

In conformity with the Transparency Directive, Livermore would like to notify
the market of the following;

The Company has been informed that New Star Asset Management Limited now holds
an interest in 15,768,127 ordinary shares in the Company, representing
approximately 5.55% of the voting rights over the Company's issued share
capital.

[mots] 14/6/2007 10:18

BBBBBBbbbbbbbbbbwwwwwwwwwwwwaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaahahahahahaha!!!!!!!!!!!!!



Whatever happened to La Tallec ?

[stucom] 14/6/2007 10:13

lollllllllllllllllllllllllllllllllllllllllllllllllll

[fozzyb] 12/6/2007 15:05

Sidmore issues Livermore shares as dividend
Livermore Investments said that Sidmore was no longer a party at interest in the company.
Tali Tsipori 10 Jun 07 17:51
An investment group headed by Aviv Reis has diluted its holdings in Livermore Investments Group Ltd. (LSE: LIV), formerly online gaming company Empire Online Ltd., two years after it was floated and almost a decade after it was founded. On Friday Livermore announced that as from June 6, Sidmore Holdings, controlled by Reis and several other businessmen, no longer had a notifiable interest in the voting rights of the company's issued share capital. Sidmore previously held 15.4% of Livermore Investments, after it made an initial investment of $2 million in the company, when it was still Empire Online.
Naturally, the ending of Sidmore Holding's status as party at interest in Livermore Investments did not result from a sale of shares - either to former Empire Online CEO Noam Lanir, or on the market - but through the distribution by Sidmore Holdings of Livermore Investments' shares as a dividend-in-kind to its shareholders. Sidmore Holdings' stake in Livermore Investments is currently worth $37 million (excluding the value of shares that it sold and the dividends it received over the years).


The distribution of Livermore Investments' shares will enable the partners in Sidmore Holdings to sell them directly on the market, something that they have been unable to do since the company was founded (unless they sold them to other company partners). It is reasonable to assume, that if this happens, Lanir, who has seized every possible opportunity over the last six months to increase his holdings in the company, will be the one that picks them up on the market. Reis will presumably not sell his own holdings, at least not in the short-term.

Livermore Investments has a market cap of $240 million, a 20% discount on the value of its cash and cash equivalents.

[fozzyb] 06/6/2007 14:18

Following this acquisition Noam Lanir is interested in 129,248,539 Ordinary Shares, representing approximately 45.5 per cent. of the issued share capital of the Company. Mr Lanir is interested in these shares by virtue of the fact that he owns directly or indirectly all of the issued share capital of Groverton Management Limited, which has made the acquisition of Ordinary Shares.

[fozzyb] 06/6/2007 13:57

Awen not interested anymore, if my memory serves correct, Lanir bought most of the shares from Awen through his groverton company..

[fozzyb] 24/5/2007 11:47

I feel 30p is more like fair value for Prty, only time will tell as to whether LIV dumped any of its shares at 59p..

On other matters, the latest RNS states LIV bought some 414,000 more shares than it previously stated, some £169,119. Not the smallest mistake I've ever seen, I would like to hope their investments are not so haphazard!

[lbo] 22/5/2007 18:20

Arbuthnot Says PartyGaming Future Looks Grim

[fozzyb] 18/5/2007 09:40

Yep, I cant find it either, lets hope they sold them at 59p and aren't hanging on...

It is true Mr Lanir obtains best price, but hell, if I was spending 1m - 30m, I would want best price and not the same as a Private investor spending 5k.

41.25 today! the start of a long slow increase haha!

[lbo] 16/5/2007 18:35

Partgaming shares falling now. Still cant find out if they sold their shares or still have them! Bad investor relations IMHO.

I dumped the shares I bought for a nice little profit! It also seems that when Mr Lanir buys the mms drop the offer for him.How nice of them! Seems he is hoovering up cheap chares.

All a bit smelly IMHO.

[fozzyb] 12/5/2007 15:05

I stand corrected, RNS on may 10th,lanir ups stake again......

RNS Number:3622W
Livermore Investments Group Limited
10 May 2007

Livermore Investments Group Limited ('Livermore' or 'the Company')

Livermore has been notified that, on 8 May 2007 and 9 May 2007 Noam Lanir, Chief
Executive Officer of the Company, acquired a total of 1,000,000 ordinary shares
in the Company ('Ordinary Shares') at an average price of 41p per share.

Following this acquisition Noam Lanir is interested in 106,582,086 Ordinary
Shares, representing approximately 37.5 per cent. of the issued share capital of
the Company. Mr Lanir is interested in these shares by virtue of the fact that
he owns directly or indirectly all of the issued share capital of Groverton
Management Limited, which has made the acquisition of Ordinary Shares.

As provided for in the Company's articles of association, the independent
directors of the Company have consented to this acquisition and Groverton
Management Limited is not therefore required to make an offer to all
shareholders on matching terms.

Enquiries:

Andrew Burns, CFO [phone]

[fozzyb] 11/5/2007 19:49

Quiet on here.......

But well, it is a bloomin' cash shell with zero news flow, No RNS, no website updates, very low volume trading, well has anyone got anything?

Out of pure stubborness, I will hold this 5 years before I cash my chips in at a loss....

Bitter to the end.....

[fozzyb] 30/4/2007 17:47

Livermore announces that on Friday, 27 April 2007 it purchased 8,336,000
ordinary shares at a price of 40.65 pence per share. The Company will hold these
shares in treasury for the time being.


So yes, they are buying, which ignoring alterior motives for now, good be good for shareholders since if they cancelled at some point (they can only hold so many in Treasury) It would automatically increase EPS.

Personally I piled into 888 late on day today, I think a good bet, some intelligent posting on there too.. I only mention this, as I feel perhaps people on here hold this as previously it was a gaming sector stock and may want to check it out.

Cheers

[lbo] 30/4/2007 16:09

I was!

Some big trades went through Friday. Could Mr Lanir or the company itself be buying again?

[dosullivan] 30/4/2007 15:33

Whoose buying today?

[lbo] 24/4/2007 19:27

Fozzy, he can just bid for the company and would only pay for the shares he does not own already. Like prudential did with Egg. I agree shareholders would not have to accept but its a distinct possibility that he may do it as its got 48p in assets that can be bought in the market today at 41p. Would also explain why he is buying shares in the market at this level too. The more shares he buys at circa 41p the less he would have to pay to buy out the rest of the shareholders at an offer of 48p.

RTO = Reverse take over

[lbo] 24/4/2007 19:27

Or the company buys back shares itself at this level and then Mr Lanir bids for any outstanding shares that he does not own or the company has not bought back. If you go back to the EGM announcement when they were EOL you see "The circular provides details on a proposed change of name to Livermore Investments Group Limited and a proposed grant of authority to buy back shares in the Company"

[fozzyb] 24/4/2007 14:02

I do not think he could get the company at 48p per share, and only at 97% can he force other shareholders to sell.

In order to do this, he would need to be buying large chunks on regular basis which would force price up, and bring others back into market trying to hang on for ride if the shares were being bought..

Excuse my ignorance, what is the RTO abbrievation?

I think these are good value, but nursing losses here, and would not like this share to increase its size in my portfolio regardless of potential upside

[lbo] 24/4/2007 11:19

fozzy, I would guess the risk is now to the upside, albeit small, but I have closed my short as Lanir may just buy out the other shareholders at cash value of 48p IMHO. Who knows what could happen here and I am sure many would see it as a good RTO target too.