Aurrigo Share Discussion Threads

[darcon] 13/9/2009 08:19

AURR AGM is on Tuesday 15th September in Guernsey.

Six resolutions are tabled and I expect all of them will be passed and a short RNS will be released on Tuesday afternoon or on Wednesday morning to that effect.

The resolutions (as copied from AURR's AGM Notice) are as follows:

"1. To receive and adopt the Financial Statements and Directors Report for the period ending 31 March 2009.

2. To review and approve the Investment Strategy as summarised in the
Chairman's Statement.

3. To re-appoint KPMG as Auditors to the Company.

4. To authorise the Directors to agree the auditors' remuneration.

5. To approve the remuneration of the Directors of the Company to remain at current levels for the 2010 Financial Year..

6. To renew the Company's authorisation in accordance with The Companies (Guernsey) Law, 2008, as amended (the "Law") to make market acquisitions (as defined in the Law) provided that:

• the maximum number of shares authorised to be purchased is up to 14.99 per cent. of the shares in issue immediately following the conclusion of the Placing (rounded to the nearest whole number);
• the minimum price which may be paid for a share is £0.01;
• the maximum price which may be paid for a share is not more than 5 per cent. above the average of the middle market quotations for the shares for the five business days before the purchase is made; and
• such authority shall expire at the annual general meeting of the Company in 2010 unless such authority is varied, revoked or renewed prior to such date by a ordinary resolution of the Company in general meeting.

The company's letter to shareholders explains the resolutions as follows: "You will notice that apart from the general matters that are annually tabled for approval by shareholder resolution, one additional matter for shareholder approval will also be tabled. The one matter relates to a shareholder resolution sought that will renew the Company's authority to make market acquisitions of its own securities. This authorisation will enable the Company to continue to provide liquidity through market acquisitions of its own securities should market conditions ever necessitate.

Accordingly, the intention with this proposed resolution is merely to ensure that the required authority is in place should the Company deem it appropriate to acquire its own securities in future."

Both the letter to shareholders about Tuesday's forthcoming AGM and the AGM notice may be found on the www.aurorarussia.ru website under company news.

Darcon

[envirovision] 09/9/2009 09:43

Yes i consure, have taken some profits today.

[envirovision] 08/9/2009 11:49

wonder if this is the short term top out, cant sell large online now.

[davebowler] 08/9/2009 10:39

I think this answers your question -from the old thread;



davebowler - 10 Mar'09 - 16:36 - 84 of 210 edit


I have just spoken to one of the directors re. the RNS.
They think it has 2 positives;
A new fund will encourage deal flow and 50 % of any attractive
company investment will be earmarked for Aurora ,and secondly (best of all for us holders) the new fund may be used to mop up shares of disenchanted shareholders ( such as Hedge Funds) in
Aurora itself i.e.a good way of narrowing the vast discount between the
share price and the Net Asset Value.
The other good news is our Do It Yourself company has had a strong January and February.
He also said that no co. in the portfolio has any debt problem,indeed all have good cash reserves and are meeting management expectations.

[envirovision] 08/9/2009 09:30

NAV £1.06, cash £4.12M wonder if its Aurrora fund getting a stake before it returns to a level more in line with the nav?

[battlebus] 08/9/2009 09:29

What is the nav here?

[envirovision] 08/9/2009 09:23

looks like yet anouther big buy may be in the background

[envirovision] 08/9/2009 09:18

I think from memory Auroras first fund invested in AURR

[envirovision] 08/9/2009 09:15

Safety in numbers to boot.

[envirovision] 07/9/2009 22:27

I was thinking that until today Merril comes up with coverage and a buy rating on RUS, now what was interesting was they are saying a target price of 59p with a forward projected nav of 69p.

So by the same logic and discount to nav, we would be looking at AURR with a share price of 90 pence. So there may infact not be a period of a few months consoladation at 40s before moving to 50s and further on up.

[envirovision] 07/9/2009 20:01

are here we go, yet anouther delayed buy at end of day. The smart money continues:

15:35:42 35.25 100,000 35,250.00 OK

[pro_better] 07/9/2009 16:51

i am talking abour rus...

yes i know...all look good...multibaggers indeed...

[envirovision] 07/9/2009 16:36

pro what aurr? but if your talking about rus, have you seen what a steal RUSP is?

[pro_better] 07/9/2009 16:33

RUS: year-end net asset value (NAV) of 69p a share!!

i bought in today...

[envirovision] 07/9/2009 16:29

Dave you sure you dont want to swap your aspl for rus? FRANKFURT -- Shares of Raven Russia Ltd. , a Guernsey-registered property investment company specializing in commercial real estate in Russia, soared 22.8% to 35 pence in London trading on Monday after Bank of America Merrill Lynch analysts initiated coverage of the stock with a "buy" rating. The stock offers an attractive 100% upside potential from the current price, the analysts said. Raven Russia is "the only equivalent of an investment company in the Russian property universe with financing in place sufficient to complete its projects currently under development," they said, adding that it's also the only Russian property company supporting shareholders through dividends. Shares in Raven Russia Ltd (RUS.L) rise as much as 19 percent after the property company focused on warehouses in Russia says it is positive about its future and has substantial cash balances. Bank of America-Merrill Lynch says the company has sufficient financing in place to complete its projects currently under development with a target of 1 million square metres of yielding warehouse space by fiscal year 2009. The brokerage says Raven Russia's net asset value is the soundest amongst its coverage area and is the only Russian property company supporting shareholders through dividends. Bank of America-Merrill Lynch starts coverage of the company with a "buy" rating and a 59 pence price target. ''Total bank debt at the half-year end was $484m, with $20m due for repayment this month, and negotiations to refinance $30m are expected to be completed by then. Other successful loan negotiations mean that the company has secured new facilities of $151m against short-term repayment of $70m on existing facilities in the coming 12 months. At the end of June Raven Russia had cash and short terms of $182m. Merrill Lynch expects a year-end net asset value (NAV) of 111¢, or around 69p a share.''

[davebowler] 07/9/2009 16:21

Peter Bill in the Evening Standard - 20/2/09:

Anton Bilton must love Russia. This week the 40-something developer who is married to model and actress Lisa B announced slightly complicated plans that will result in all his London property eggs being transferred to a basket in Moscow.

Fund manager Invesco is to chip £75 million into a £125 million capital-raising exercise for Bilton's AIM-listed Raven Russia, a 72-strong business that builds big sheds on the steppes. That will allow Bilton and his partners to do three things:

First, take over the UK business Raven Mount, its £20 million cash pile and £35 million of UK properties - which will be sold. Second, boost the Russian balance sheet which is just about to take a $90 million (£62 million) hit from a revaluation of the 13 million square feet of industrial units Bilton has built from scratch since 2005. Third, use anything left over to build even more sheds.

And why would a supposedly sane fund manager like Neil Woodford at Invesco guarantee Bilton £75 million to invest (a) in property and (b) in Russia? Again, three reasons. First, Invesco makes a 12% return on the money. Second, it gets the right to buy shares at 25p in a company whose net asset value is about four times that number. Third, and most important, it trusts Anton. A man who does love Russia.

"If I were an alien developer from outer space, I'd land my ship right by the Kremlin now," he says. "Russia is less risky than Britain now. Here, the market is catastrophic.

"Russia has little home ownership and a tax rate of 13% - that gives consumers very high disposable incomes. OK, there is a downturn. But there is still a huge demand for the mid-market Western goods like shampoo and stuff - you know, the sort of stuff that we store in our sheds."

[envirovision] 07/9/2009 16:13

I see RUS above 50p soon imho, they have juicy pref shares currently at stonking value RUSP. I'm convinced mm dont have too much aurr stock, either that or theres anouther massive buy order in the background, I could sell 50K at a premium to the bid right this minute if i was stupid enough to imo stock is short