||EPS - Basic
||Market Cap (m)
|Real Estate Investment & Services
Real-Time news about Rose Grp (London Stock Exchange): 0 recent articles
|andrbea: I asked rgi about the miserably low share price
and asked: would that prompt them to take the company private?
I got this reply from one of the directors dd March 4:
The board of directors of RGI share your concern at the decline in RGI's share price. Since the announcement of the Company's half year results on 5 September 2008, the world's economic climate has changed dramatically. Global and particularly Russian capital markets and banking systems have been in crisis. This has made it extremely difficult for Russian real estate developers to access the capital required to start building work on new projects or to sell or let properties on commercially reasonable terms.
In response to these events, the board of directors of RGI have already reviewed the entire portfolio of the Company together with the proposed completion schedules for individual projects. As announced in November of last year, following this review, the board has decided to focus on completion of the Tsvetnoy Project, while limiting work in respect of its other projects to gaining approvals and permits from the relevant authorities.
In response to your query relating to delisting, absent particular circumstances, cancellation of RGI's admission to trading on AIM requires the consent of at least 75% of its shareholders. RGI is an independent company and therefore cannot comment on the intentions of its shareholders.
|andrbea: must be bargain of the century?
Last Sept the share price was much higher (ca 4.4 dollars)
now 0.105 dollars to buy (42 times less)
in November 2008
current cash balance = approximately $50 million
NAV = USD 2.035 BN (June 2008)|
|andrbea: still going down
the nav is USD 16 (June 2008)
share price has to respond to that at some stage, surely?|
|andrbea: saw the share price stood at 9.0 usd in June 2008
(plenty of upside then..) :-)|
|darcon: The following information is not related to RGI but is important for any evaluation of the sector:
PIK Group, a Moscow-based property company, floated its GDRs yesterday at bottom of indicative price range according to Financial News raising $1.85bn (1.38bn).
Other points of note in the Financial News article:
- pricing is linked to "a recent fall in Russian equities which has pushed the total slide in the country's stock market to more than 7% for the year to date."
- "PIK Group shares were priced at the bottom of a $25 to $31 range, valuing the business at $12.3bn"
"Deutsche Bank, Morgan Stanley and Nomura led PIK Group's listing, which earned the banks a total of $55m in fees and commissions."
"PIK Group's listing is the largest in Russia since the flotation last month of the country's second largest financial group VTB, which raised $8.2bn in a London and Moscow share sale."
"The Moscow equity market has been hit by heavy falls recently, which analysts have struggled to explain. Some have suggested that the large volume of new share issues might have led investors to sell existing Russian holdings to finance investment in fresh offerings."
Last para above may also explain recent small retreat in RGI price|
Rose Grp share price data is direct from the London Stock Exchange