Elephant Cap Share Discussion Threads

[praipus] 27/2/2013 11:44

yipee yipee tender offer:-)


"The Board believes that the Tender Offer will provide Shareholders with an opportunity to partially exit from what has been an illiquid investment at a price which is significantly in excess of the current market price of 31.75 pence as at 25 February 2013. The price of the proposed Tender Offer of 39 pence per Share is below the published net asset value per Share at 31 August 2012 of 44 pence per Share and has been calculated to reflect an estimated approximate unaudited net asset value at 31 January 2013 after (inter alia) adjusting all movements in the valuation of listed investments (including a provision to reflect lack of liquidity), operating expenses since 31 August 2012 and the costs of this proposed Tender Offer. Unlisted investments have not been formally revalued. Instead, the Manager's estimate of impairment to the value of unlisted investments since 31 August 2012 has been taken into account in calculating the Tender Price of 39 pence per Share."

[praipus] 10/6/2011 14:47

This might be a jolly good short. The companies mandate is to buy the shares at between 2 and 35p. Presumably if they are above 35p sell short?

The NAV somwhere around 63p I think.

[praipus] 10/6/2011 14:45

Weiss Asset Management have bought 21%!

To track the rest of their holdings see

[mangal] 25/2/2010 18:44

Someone is accumulating? some chunky buys yesterday.

[mangal] 24/2/2010 18:39

The prelims read well & I think the future is bright:
"... we successfully conserved cash in the downturn, and with none of the liquidity constraints that continue to affect our peers, are well placed to act quickly when the time is right. We have every confidence that our strategy will continue to deliver exciting opportunities for Elephant and look forward to a busy year."

[mangal] 05/2/2010 10:08

The exercise terms for the warrants of ECAP can be found here:

[mangal] 05/2/2010 09:55

Previously called "Promethean India".