Skil Ports & Lg Share Discussion Threads

[yasx] 19/9/2016 08:18

Single digits arrived - as earlier forecast.

[hatey] 19/9/2016 08:12

dvi

Hardly. 18p would have been nice for anybody after that news could they have got it
given the price is now below 10p

[jailbird] 19/9/2016 08:12

Work out the dilution for £36m...that is if there is any interest from institutions to support the Co.

[waterloo01] 19/9/2016 08:12

Certainly at this price I think I'll wait it out and see what comes out the wash in the next weeks. Hopefully not all lost but can't rule that out.

[my retirement fund] 19/9/2016 08:07

1 pence by the end of the week imo.

[yasx] 19/9/2016 08:06

Here we go....

[yasx] 19/9/2016 08:06

Reaction not nearly as severe as one might have expected - think some have clearly missed the announcement. Give it a little time....

[deepvalueinvestor] 19/9/2016 08:05

Nothing like deramping!

[hatey] 19/9/2016 07:58

Not too bad 18-20p maybe the mm's missed the rns.

So anybody still in has a chance to get out still while a half decent price

[hpcg] 19/9/2016 00:56

Getting a politician on the board looks to be a consistent a warning sign. As they are all 100% incapable this can only be to add a veneer of respectability.

[diku] 18/9/2016 19:07

This company needs to be investigated in the interest of all wider shareholders....

[jailbird] 18/9/2016 18:44

I still cannot believe , but not surprised, the timing of these RNS, after close in a Friday.That just clearly tells you the BoD had no regard for you the shareholders.Someone posted Gandhi's fraudulent accusations ... say it all really Gandhi and Kishore have been accused of siphoning off funds to the tune of more than Rs 100 crore from Everonn by entering into sham share purchase and land purchase agreements. In September 2011, the Varkey Group had acquired close to 12% stake in Everonn through preferential allotment of shares. Then, Gandhi and Kishore together held over 40% in the company.

[jailbird] 18/9/2016 18:33

The thing is why know the so called professionals get it wrong too. But their funds consists of many stocks, some perform better than others.The other thing is some investors loss making investments are offset against their CGT gains

[yasx] 18/9/2016 16:17

For those seeking to recoup their losses, well, consider (in addition to NSCI) another undervalued outfit MRS. I suspect we will head sharply higher from here.

Time will tell. I might be wrong, but I rather doubt it.

[hatey] 18/9/2016 15:04

jojaken18

Yes I was surprised and relieved I got 60k away 21p via 4 lots before the mm woke up
and saw what was happening. Thought at 20p there would be a quote though. Biggest bullet dodged since Industrial Controlled Services which went from 6p to 1p one Friday afternoon many many years ago for me.

[my retirement fund] 18/9/2016 13:13

marvelman yes spot on, its so bloody obvious and has been for so many years now !!! The odd thing is that some people have either been unable to or simply refused to believe it. Here's another post from another thread about this - its really not worth my time writing any more now so copy and paste for you:

[marvelman] 18/9/2016 13:08

Lefrene

I do not believe this BOD or Ghandi to be either incompetent or stupid. They are sharp cookies and worldly men. This surely has to be a planned set up to get this company on the cheap for themselves and their mates including the ones they have just taken on. Thats my observation anyway. The RNS after hours with no real plan to put forward apart from funding will be needed says it all. I do not believe they blame themselves or give a toss for what current or former shareholders think but whatever happens these guys will make money from this contrived fiasco.

[jojaken] 18/9/2016 12:02

Thank you Hatey (8376) for helping us understand why the SPL fell by so much on Friday afternoon. Clearly there wasn’t any insider manipulation etc. behind the fall. It was just there wasn’t anyone buying on the other side of your trades. I was actually mildly surprised you could get your full 90k of share away at all within the day! Unfortunately for management this compelled the statement at the market close. While I’m often cynical of such statements, in this case I am not. There was nothing in the statement that we didn’t already know *expect the size of the shortfall*.

We knew it would be large, but had hoped not this large. Now we have a figure.

But what would a finished port be worth to the likes of say JNPT? Well SPL have spent very approximately US$150m plus this additional £36m ($50m) for a total of $200m for a functioning port mid next year. Having taken at least eight years to get to this stage, this being India, it would difficult to replicate. So its value lies in how valuable is this port capacity compared to when the port was conceived. By all accounts the port capacity shortage has worsened. So I would argue if a fund raising is difficult, it would be better to sell the port, clear the debt and pass on any cash to the shareholders. With a debt facility of $50m (partially but not fully used yet) that should leave multiples of today’s share price to distribute. All IMHO.

[lefrene] 18/9/2016 11:37

So they turn out to be just another bunch of AIM liars. They must have known about this under funding for 12 months or more, in which case why not raise money when the share price was much higher? So has Lord Flight been brought on board in the hope that his friends might underwrite more funds? Or is the Baron just finding out what he has walked into? This lot probably won't have the sense to suspend the listing while they sort out the mess. But from the long slide in the share price there have been those on the inside who knew the real story. Despite the supposed experience of Mr Gandhi he has shown himself to be incompetent and has been deceiving shareholders as to the true state of things. Presumably the piling has slowed because ITD Cem are waiting for money?

[saucepan] 18/9/2016 09:47

deepvalueinvestor: respect, that you have still put in an appearance here (unlike a couple of other prominent past champions of SPL who may have influenced smaller investors). I was interested in what you would make of the current situation as I know you have been closer to the Company than most.

With the benefit of hindsight it is manifest that technical rather than apparent "deep value" considerations have been the better guidepost with SPL in the end. For too long the chart was saying all was not well. Indeed, there is a lot that has proved "strange" about SPL and especially, it might prove, if the word is used as a euphemism!

My commiserations to those who have lost money here. It could have been me this time around, too. I was looking either for a placing or for 20p to form a support level with a view to starting to build a position again.

I must admit I am very saddened as, for quite a long time, I thought there was a really promising story here (I attended the infamous Mello event) and particularly when the fundamentals and technicals appeared to be in line. Maybe there still is, but I shall be really surprised now if existing investors take any rewards from it. My immediate hunch is that we will see the shares suspended at 7am on Monday.