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SPL Skil Ports & Lg

11.25
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Skil Ports & Lg LSE:SPL London Ordinary Share GG00B53M7D91 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 11.25 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Skil Ports & Lg Share Discussion Threads

Showing 9551 to 9573 of 9625 messages
Chat Pages: 385  384  383  382  381  380  379  378  377  376  375  374  Older
DateSubjectAuthorDiscuss
18/11/2016
15:06
DVI -

'I was annoyed that they didn't raise the funds at a higher level but unfortunately AIM rules didn't help us this time because the company were obliged to announce that it would need to raise further funds before it had done all the work to find out exactly what funds were needed.'

This is all disingenuous nonsense from SPL - the design spec has not changed, and anyhow they would be well aware once reclamation work commenced if there was likely to be a material cost over-run, outside the fixed price element of the contract by ITD.

I would remind SPL shareholders that Singapore which has one of the top three largest container ports in the world(currently three times the size of all the JNPT terminal combined)has been enlarging its land area for decades and current reclamation costs are around $25/sqm - $100,000/acre. If Singapore can reclaim 200 acres of coastal land for around £20m today(including buying in the sand land fill material) - how come SPL need another £36m to cover over-run reclamation costs, on top of the £110m they have raised in debt and equity to date?

As for the spec not changing - Pavin needs to have a look at his own Karanja video presentation, where SPL states the the second 600m of the 1000m of berths will have 10m of water depth alongside. So how did SPL propose to do this if the access channel was going to remain at 4.5m? Its misrepresentation - Answers on a postcard to the Mumbai fraud squad!

These guys are totally incompetent amateur port owner/operators who are out of their depth to a level that beggars belief or they are involved in operating a XXXX).

It would not suprise me that for around £150m, all shareholders see before the money again runs out, is around 300-400m of berths with 4.5m of water availability, and around 75-100 acres of reclaimed land - something that could probably be built today to a very high spec for £40-50m.

mount teide
18/11/2016
15:02
I thought it was obvious that the institutions investing right now made it clear that if they were to invest, our chairman had to dilute his shareholding. This is a good thing.

One point I forgot to mention was that I incorrectly assumed the connection to SKIL was ending with the name change but actually it reflects the greater long term ambition of the directors for this to be the first of many projects. They wish to tie up with other companies too and not simply SKIL. This will seem ridiculous to investors right now after years of delays with project number one but I share that vision. In passing, Port West is still on the table but without environmental clearance, they will be looking elsewhere for the next project.

I am angry as the rest of you but there is no point in crying over spilt milk. The company has avoided going bust so we can now plan for the future. A few updates over the coming months with drone video etc and the mood on this board will change once more.

deepvalueinvestor
18/11/2016
14:20
If he is not putting his own money then why should others?...can we see the receipts of where the cash has gone?....shareholders are entitled to question this?...
diku
18/11/2016
13:49
dvi, nikhil and pavan were gifted their shares. They didn't buy any, and have received payments every year for being CEO and chairman.Even when the price was in the 30's a couple of years ago they did not put any money in. Ever wondered why not ?Nikhil has not agreed to put money in. He will decide next January. Why is that ? Either he doesn't have any money or he has the money but wants to see progress before investing. Not the same as other investors. Why is he being given preferential treatment ?
fft
18/11/2016
12:44
Has anyone yet asked them where the cash has gone? Or do they also not know the size of the spend to date?
pj 1
18/11/2016
12:40
''They were budgeted for''-think about it. At the time there were no bunds, no mobilised workforce, no dredging, no piles. Just some goal posts, old fishing boats and a 90% complete concrete bridge.
pj 1
18/11/2016
12:37
If they knew the size of the shortfall, they would have raised the money earlier. Remember that the directors are also shareholders and they clearly didn't want their own holdings diluted either! They wanted to find out exactly what the additional cost would be before announcing to the market but Cenkos quite rightly told them that investors needed to know quickly if there were not going to be enough funds to finish the project. We would have been better served if they had been more dishonest! Ironic.
deepvalueinvestor
18/11/2016
12:24
no what did they say?
brwo349
18/11/2016
12:19
When I questioned them about (imo grossly excessive) travelling expenses, who can guess the answer I received?
pj 1
18/11/2016
12:09
Waterloo, did have the original IPO document? I explains the draft issue. Nothing has changed. Reclamation costs have increased over five years, mainly due to the growth of JNPT.

This open offer is unusual in that it is a fraction of the placing. In essence, new and old institutions have already done the research and put up the money so it doesn't really matter other than to the battered private investors who have to decide whether to give up at the last stage.

deepvalueinvestor
18/11/2016
11:54
Are you taking up extra shares?...
diku
18/11/2016
11:34
Divi, what was it he said that made you more relaxed? Any answers to the key questions of where the money has gone, what is a fixed rate contract!!, and the 4.5m draft question?

Edit: Barclays closed offer yesterday but Hargreaves you have till Monday.

waterloo01
18/11/2016
11:27
I finally managed to speak to Pavan yesterday and feel a bit more relaxed. It is interesting to see the level of support from the big institutions but also new ones taking chunky stakes.

I was annoyed that they didn't raise the funds at a higher level but unfortunately AIM rules didn't help us this time because the company were obliged to announce that it would need to raise further funds before it had done all the work to find out exactly what funds were needed. Can you imagine the uproar if they raised £20m and then came back 3 months later and asked for £16m more? A 30% cost over run in India isn't that shocking after a 5 year delay but it is the small shareholders who have taken the pain as they don't have the experience of when to give up and when to top up. I did say several years ago that this sort of investment was better suited to institutions that can take a long view but admit that I invested too much personally so that I don't have all the funds I would like to invest now. Maybe I will get lucky and the shares will remain depressed a while longer!

deepvalueinvestor
18/11/2016
09:42
Good luck...ask the Directors if the 500 & 1000 rupees defunct has had any disruption to work force/contractors?...
diku
18/11/2016
09:24
I've gone in with the offer and am in broadly the same position to DVI.

My average cost is around 40p.

Am attending the AGM next week here in Guernsey.

guernseymoney
18/11/2016
09:12
Guys don't forget deadline tonight for new shares...
diku
16/11/2016
16:34
Diku, I bought lots at 50p and 56p before rally to the 80p where I trimmed. I am still down heaps but it could have been worse.
deepvalueinvestor
16/11/2016
15:35
Divi, thanks for sharing. Still not decided, but have to think there is value.

Did you ever get any further feedback from the BOD or NEDS? Very disappointing if they have not engaged.

waterloo01
16/11/2016
15:29
There is me thinking you were the only one topping up at 80p & below....or is it just me!...
diku
16/11/2016
15:26
I haven't had any news but will be taking up the offer through gritted teeth and with tears running my face. At current levels, I don't feel I have a choice and just pleased I reduced my holdings at the 80p level so it could have been worse. I remain convinced that it is an appealing project (despite the shallower depth) at the right time and place but accept that the upside potential is not what it once was (due to higher build cost, share dilution and losing the Port West option) Saying that, I still feel it is many times the current distressed price.I accept the many negatives and the distrust of management but at 10p, I can't resist following L&G and the other institutions. Good luck to new and old investors.
deepvalueinvestor
15/11/2016
21:18
Guys how does the withdrawal of the 500 & 1000 ruppes impact SPL & its work progress...there seems to be chaos with long queues forming at banks...surely bound to be workforce disruption...
diku
12/11/2016
15:29
When you consider the price fall from 80p to 10p I think some sort of technical bounce up could well come on hope rather than fundamentals....its your money so only you can decide...No Advice Intended...
diku
12/11/2016
12:26
Anyone taking up the options? I can't decide but will probably pass unless the company or the Divi/davidosh 'initiative' delivers some sort of assurances re next steps, esp in light of MT observations.
waterloo01
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