||EPS - Basic
||Market Cap (m)
Lonrho Share Discussion Threads
Showing 3176 to 3195 of 3200 messages
|Rabain, thanks for your good post. Gullible? I'd rather say conned. At least David Copperfield and David Blaine are honest about their illusions. Whereas David Lenigas continues to pretend what he does is real.
U needs a loo|
|the great mystery is why the Swiss paid NAV for Lonrho shares when the stone fruit orchards which were valued in the ac's at £ 40m are worth no more than about 1/40 of that unless their orchards in Mashonaland are worth ten times more per hectare than Diageo's finest Bordeaux vineyards and 40 times more ABF's sugar beet farms in Southern Africa. Then there's the other Mashonaland mystery of how Home Farms was bought for US$ 60 and immediately worth £ 10m plus in the hands of Lenigas & his sidekick. White mischief or black magic?|
|Lonrho imminently sinks below the public waves yet the scandals remain. What fun are PIs going to miss now debate will be curtailed?
Cambria (formerly Lonrho Zimbabwe) has just settled with Lonrho's new owners for a fraction of their claim. Yet this was for far more than Bruiser and Slasher acknowledged. [Er, didn't Bruiser and Slasher set up Lonrho Zimbabwe aka LonZim and then run down the share price by 90% before resigning and "selling" out to LONR?]
Meanwhile, the Rollex and LONR smuggling story [and, of course, this does not involve fastjet, where any people doing anything bad were not involved at anytime whenever that was] rolls on. From the first public Rollex posting I have been (predictably?) negative and critically questioned the asset purchase value, especially Rollex's De Robillard's incentive to sell. Some posts were, perhaps, squashed or openly mocked. This article gives more detail hxxp://www.moneyweb.co.za/moneyweb-special-investigations/why-is-customs-detaining-uklisted-lonrhos-local-tr?sn=2009+Detail
Lonrho kept a bunch of Rollex models (Corgi?) in the boardroom at Arlington Street. There were no cigarettes in the ones I handled there.
Their preferred lawyer, Mischon de Reya, took me to lunch but didn't smoke. Then again, that was years ago.
And then again, Lonrho used to be a LSE-listed share and then again the directors promised a dividend in 2013 and then again David Lenigas was the Executive Chairman and then again he used to angrily wave a little stick at me claiming he had my mobile (still awaiting proof) and then again he and "Oryx White" lost many SA miners' significant equity while personally enriching themselves and then again that made me a little angry.
Meanwhile, in Blighty, many gullible PIs lost thousands. A few nimble opportunists made a quick buck. The BoD's profiteering is evidenced by a straightforward 2006 comparison with their 2012 salaries, benefits and waist measurements.
Whether Lonrho, whether FSAfrica, whether investment, whether politics; weather affects peaches, pilchards and profits. Evidence of any has proved as elusive as fresh khat on Edgware Road and that times change. Something Lonrho has never been is a bellwether.
with a nod to Tiny [RIP]|
|Hard to know where to best continue the LONR discussion. Considering the ramping history and hubris since 2006 that has been so overwhelmingly tsunamied, the energetic perpetrators and their mire-gripped acolytes surely deserve another humorous yard before the big drop?
|Tiny will be spinning in his grave at the way LONR reached its end.
What could have been !.
|hmm dunno, but perhaps
a) covering a short position
b) someone who thinks counter bid still possible
d) fake trade,
e) MM/broker manipulating the market
On the WAM thread I track the Cheyne fund theyve been buying shed loads with a CFD
|Why would anyone buy at 10.25 ??
Surely with the dealing costs it is a guaranteed looser ??
|Contrary to what has been said previously on here, this offer is binding provided a vote on 28th June approves it. If it is approved then it will become effective on 19th July and holders will receive 10.25 per share on 2nd August.
All we can hope for is a higher offer but this looks unlikely.|
|Pleasure, kibu. Note that the FSAfrica offer document discloses that it's providing LONR with a US$ 10m short term loan. Clearly bust otherwise; equally clear that the placing of £ 2.5m in April with H21 ( part of FSA) was to plug a cash hole then and that it sealed the fate of 'Ambassador' Cook and her minions.|
|Thank you, ndege kidogo and Valhamos, for the recent exchange. Helpful.
|Hi Wakeland, They were proved correct in the end and yes they can pat each other on the back at the watercooler and enjoy their bonuses. They earned the bonus for the many years spent knocking the Lonr / BoD, here and on the LSE.
|That is interesting tenapen. Maybe they're both wearing fs-africa t shirts behind their computer desks? If that is the case in fairness to them they have ran the agenda on this board for some time and they deserve their bonus when the time comes. I wonder if they've posted on any other of the bulletin boards? Personally I took a (smallish in the end) hit when the t/o was announced but I do think fs-africa have taken this out at the right time they'll do well out of it.|
|Along with kibu its interesting to note that ndege kidogo as also only posted about FJET and Lonr* since Nov 2012 (as for back as can be seen) mmmmmm !!.
* 1 post on Laughingas's new company.|
|Almost invariably if you own over 50per cent you have to consolidate 100per
Cent of sales, profit/loss and b/sheet items and then take out the minority's interest with a couple of one line adjustments for share of profit and share of net assets.
Despite the fact that Lonrho provided its exec chairman and CEO as exec chair and exec director of farcejet KPMG were persuaded that Lonrho had no influence over fjet and allowed it to be treated as an investment ( not even an associate). This of course allowed St Leni to book a £40m
book gain to Lonrho's interims last year. That fooled a few people for a few months. Now of course that gain's disappeared like a fastjet vapour trail. The main point was that without hiving off Lonrho Aviation it would have collapsed a year ago since Lonrho could not have found the cash to fund it. That fell to mug hedgies aided by PIs who'd seen too much of
The Sun. All that's soon to be academic for Lonrho investors who are lucky to be offered 10p. I expect tomorrow's circular to make it clear that failure to support the takeover will see the Lonrho share price limbo dancing FJET to zip|
|Pedantry aside for a moment, is there any material difference between a partner owning 67.4% of a JCE and one owning 49.14%?
IFRS10 does not put this in black and white. The position of a large minority shareholder will be influenced by the ability of other shareholders to cooperate and outvote. At the present rate of decline in Lonrho's shareholding, following multiple share placings, it would seem that Lonrho's diluted equity puts it in danger of losing the joint control status. What would be the accounting affects?
|"fastJet is consolidated as a jointly controlled entity in Lonrho's Group accounts. "
Correct. As per the interim accounts to 30 June 2012 when it ceased to be a subsidiary it became a JCE.|
|True, but, correct me if I'm wrong, fastJet is consolidated as a jointly controlled entity in Lonrho's Group accounts. I refer you to Lonrho's website. The "fastjet" tab shows an ownership of 67.4%, even though it is only 49.14% Can this now be consolidated in Lonrho's accounts?|
According to accounting standards a company is only a subsidiary of another when the parent exercises control. Although the concept of control will include consideration of the share ownership percentage there are other factors (and I can think of examples where owning 100% of the share capital does not lead to the company being a subsidiary - this is often the case in securitisations for example).
Lonrho concluded last year (again I refer you to the interims) that they no longer exercised control over Fastjet, despite at the time owning more than 50% of the shares.|
|Valhamos, As at 30th April 2013, Lonrho held 50.94% of fastjet [RNS6730D]. When did it lose the majority stake/subsidiary position? When was it announced?