Viridas Share Discussion Threads

[sweepie2] 15/3/2012 12:23

Yes not the investment that I expected BUT I believe I thought the same about the LDP investment and that turned out all right so will give him the benefit of the doubt. Remember its only a bad investment when you sell and make a loss or they go bust

[worlds lrgest undies] 15/3/2012 12:10

bizarre they've "wasted" £300k on a minority position in an illiquid vehicle who's undertaking is as morbidly dull as the aggregates business. frankly, rather baffling.

was thinking of adding here but will now wait and see what their next investment is. another poor investment and i'm off tbh. all imho of course.

[sweepie2] 15/3/2012 11:03

I see that the Viridas web site hasn't been updated with this latest so called investment and I would have thought with a 16% holding NL would have made sure that a seat on the board could have been made available to make sure that PPA don't waste this placing like they have done with others. No wonder the price has fallen but as this investment has only cost £300k I feel the drop might be short term given that there still is approx £2.7m available to invest elsewhere so could be back for another top up before NL announces the next one.
Price though could drop back to .40p so no hurry

[steddieddie] 15/3/2012 10:45

The statement in January is very clear why VIR retains an interest in LDP. This is an investment company looking ahead to substantive events and outcomes, not some sort of day trader at a desk, hopping in and out on momentum alone.

[pamelling] 15/3/2012 09:35

The warrants in Leed are getting worse by the day.... absolute mystery why Mr Lee didn't cash in near the peak especially with his inside knowledge, or perhaps that was part of the problem, warrant sale subject to a 'closed period'

[sweepie2] 13/3/2012 16:46

Also what has happened to all the targets which were identified in October last year?

[sweepie2] 13/3/2012 16:45

I wonder which other CEO names are in NL's little black book but just a little warning as on their thread they are described as AIM's worst run company,saying that were not LDP described as that a few short months ago.

It does look like its a good entry price but they have completely messed up in the past, I hope it doesn't continue with our funds.
Glad NL didn't invest more

[share_shark] 13/3/2012 16:24

You really should take a more indepth look at PPA.

Look at whom you have at the helm.

One good man and another even brighter woman(naturally) .;-)

She has a history of putting together deals and good ones at that.

Also I seem to remember that PPA have available funding for up to £5million............there again I gained that information some months ago.

E McAlpine is a star in himself.

As always though DYOR but it appears that VIR have another bargain here. Time will tell.

[skiboy10] 13/3/2012 15:52

Full article

Viridas takes big stake in Pan Pacific Aggregates - Update
2:04 pm by Philip Whiterow Viridas taken a 16.5 per cent stake in Pan Pacific. Viridas taken a 16.5 per cent stake in Pan Pacific.



Viridas (LON:VIR) has emerged as a major backer of Canadian-focused aggregates group Pan Pacific's (LON:PPA) recovery plan.

The Aim-listed investment firm has taken a 16.5 per cent stake through a £300,000 subscription for 12 million shares in a placing that raised £780,000 net for Pan Pacific.

As well as the new shares, which accounted for 36 per cent of the placing, Viridas will receive six million warrants exercisable over the next twelve months at 5p per share.

Pan Pacific rose sharply on the news of Viridas' stake to 4.18p compared to a placing price of 2.5p.

Its chairman Lynda Chase-Gardener and executive director Euan McAlpine will take 600,000 and 1.6 million shares respectively in the placing in lieu of salary.

That will take Chase-Gardener's stake up to 0.83 per cent with a further 300,000 warrants, while McAlpine will have a 4.54 per cent stake and 800,000 warrants.

The fund raising follows a £2 million equity drawdown agreement with Yorkville Advisors signed earlier this month.

Pan Pacific, which has a quarry and other interests in British Columbia, said the net proceeds of the placing will be sufficient to fund the organic growth of the business into 2013.

The company also proposes to make a further payment out of the net proceeds of the placing as part of the terms of the creditors' voluntary arrangement announced last May.

Chase-Gardener said: "The company is steadily improving its cash flow and this placing will assist significantly in the further development of our attractive Canadian assets. It is also a clear demonstration of the confidence in the future of the business from a combination of both existing and new shareholders".

Nicholas Lee, Viridas' chairman, added that Pan Pacific represented an attractive opportunity to invest in a business operating within the Canadian aggregates sector with scope for expansion and development.

"This recent placing will better position the company to take advantage of opportunities that may arise," he added.

Pan Pacific's aggregates business operating in the Fraser Valley close to Vancouver in Canada.

Fraser Valley is currently one of the fastest growing areas in the region, with the local government committed to infrastructure development.

Pan Pacific currently operates the Quadling quarry producing processed hard rock for the local market.

"Having commenced operations 18 months ago, all the necessary infrastructure is now in place and all capital expenditure has been completed so the company is moving ahead to full production," Viridas said.

[marab] 13/3/2012 15:31

sailing john - I hope you do well here (and not just because I have nearly as many shares as you have ;) share price tends to drift on no news but so far the company has done well out of its few investments.

[sailing john] 13/3/2012 15:08

Bought in today - 500k, 450k, 950k. 0.49ish
GL SJ

[marab] 13/3/2012 14:52

I make the NAV at the moment to be about 0.76p so share price trading at a discount of about 30%. Bit of a bargain for a company that has done so well on its first 3 investments.

[charmer1_23] 13/3/2012 13:17

LOL, i was just saying to myself this morning, I wonder if VIR had taken part in the PPA placing and now this confirmation, uncanny or what. :-)

[marab] 13/3/2012 12:48

SO who saw this one coming ?

13 March 2012

Viridas plc

("Viridas" or the "Company")

Investment in PAN Pacific Aggregates plc and award of options

Viridas announces that it has subscribed for 12,000,000 shares in Pan Pacific Aggregates plc ("Pan Pacific"), the Canadian aggregates business listed on AIM, as part of its recent placing, at a price of 2.5 pence per share for an aggregate consideration of GBP300,000. It will also receive 6,000,000 warrants exercisable at a price of 5 pence per share at anytime up to March 2013. As a result of this investment, Viridas will have a 16.5 per cent. shareholding in Pan Pacific.

[bronislav] 13/3/2012 12:39

Aggregates.

[starwars4] 13/3/2012 12:36

News out.....

[ezlington] 10/3/2012 18:09

"but you do wonder why the 166,666,667 warrants were not exercised when LDP hit 0.8p on huge volumes."

My take is that that the warrants could represent a success fee for the RTO of LDP.
Just as the Shares VIR held were possibly sold to an offshore trust (the Beneficial Owners perhaps being related to certain foreign connections of the RTO prospect who may now be more motivated for the deal to go through), my guess is that the Options will either be sold on the eve of the deal(unlikely as VIR & LDP share leadership & regulators are not stupid) or they will be held until after the RTO and exercised/converted and diluted as ordinary shares.

The downside of that is the time taken for the LDP RTO "due diligence" may delay VIR's own RTO into the third quarter.

That's my guess.

[h d shoring] 09/3/2012 09:01

Can confirm one of the .5 sells of yesterday was my buy

[supercity] 09/3/2012 08:51

a few days after the rns on the sale of the LDP holding i noticed 2 x 50,000,000 and one 66,666,667 sales go through...i thought at the time vir could be shorting LDP and it may explain why the price seems to be pipping up on days when LDP drops and vice versa.

i hope i am off the mark but you do wonder why the 166,666,667 warrants were not exercised when LDP hit 0.8p on huge volumes.