Camper & Nic. Share Discussion Threads

[jhan66] 30/4/2007 18:16

CNMI article

[johnsoho] 25/4/2007 08:18

And another RNS...this time Malta, 230 berths including 33 berths for superyachts....Now I WOULD like a SUPERYACHT!!!

Camper & Nicholsons Marina Investments Limited ("CNMI")
Investment in Grand Harbour Marina p.l.c. ("GHM") of up to Euro15 million


Summary

* Conditional promises by CNMI to acquire, and by certain GHM shareholders
to sell, a 50 per cent interest in GHM at Lm 0.56 per GHM Ordinary Share
representing a potential investment by CNMI (including transaction-related
costs) of Lm 2.9 million (Euro6.8 million)

* Grant of conditional call options to CNMI, and of conditional put options
by CNMI, covering a further 20 per cent interest in GHM at Lm 0.56 per GHM
Ordinary Share, exercise of which would represent an investment by CNMI
(including transaction-related costs) of a further Lm 1.2 million (Euro2.7
million). The put options are only exercisable if CNMI would not then be
required to launch a mandatory offer for the remaining 30 per cent. of GHM's
issued Ordinary Shares at a price in excess of Lm 0.79 per GHM Ordinary Share

* Any exercise of the put and call options would trigger a mandatory offer
by CNMI for the remaining 30 per cent. of GHM. In the absence of unforeseen
circumstances, any offer by CNMI would be at a price at least equal to Lm 0.70
per GHM Ordinary Share. CNMI would only exercise the call option if the price
of the mandatory offer required would not exceed Lm 0.79 per GHM Ordinary
Share, a premium of 13 per cent. to GHM's closing price of Lm 0.70 per GHM
Ordinary Share on 23 April 2007. Such an offer for the remaining 30 per cent
of GHM at an assumed price of Lm 0.79 would represent an investment by CNMI
(including transaction-related costs) of a further Lm 2.4 million (Euro5.7
million)

* Completion of the 50 per cent. promises of acquisition and sale is
subject to various conditions including access to due diligence and a
satisfactory review thereof and waiver of certain lock-up restrictions by GHM
shareholders in General Meeting. Exercise of the 20 per cent. put and call
options is subject to certain further conditions relating principally to
CNMI's ability to implement a mandatory offer on acceptable terms

* GHM's principal asset is the Grand Harbour Marina in Malta, a newly-built
superyacht marina which opened in November 2005 with:

* approximately 46,700 m2 of lettable berth area of which some 31,600m2
are for yachts of over 30 metres

* approximately 800m2 of land for parking and 400m2 for development; and

* 230 berths of which 33 are superyacht berths

* Anticipated acquisition prices (including transaction-related costs) of
Euro9.5 million for a 70 per cent. interest and up to Euro15.2 million for 100 per
cent. of GHM.


Speaking today, George Kershaw, Chairman of CNMI, said:

"Following our recently announced investment in Cesme Marina in Turkey we
continue our stated strategy with this agreement to purchase 50% (with
conditional rights to acquire a further 20%) of the shares in the publicly
quoted Grand Harbour Marina in Malta.

This is an important and strategically located new superyacht marina. Formally
opened in November 2005 by Her Majesty Queen Elizabeth II, it is already trading
profitably with forecast profits from operating activities for 2006 of Euro1.4
million. Its stock of valuable superyacht berths enables CNMI to benefit from
the rapid growth in the world superyacht fleet, of which there are now some 600
on order.

We consider this another sound investment for our shareholders."

[johnsoho] 21/4/2007 18:11

Looks to me like a nice first acquisition by CNMI since it first joined the market....375 berths plus another 100 onshore is a reasonable size and I would expect generate a reasonable and reliable revenue stream. Interesting that they acquire a 45% stake but obtain 50% of the voting rights

RNS as follows:

Camper & Nicholsons Marina Investments Ltd said it will acquire a 45 pct stake in a 25-year build, operate, and transfer contract for Cesme Marina in Turkey, and invest 3.78 mln eur over the next 12 months.
The specialist marina investment company said there will be no upfront
payment for the stake, but will pay an annual indexed rental to the Turkish
government.
Camper & Nicholsons said it will acquire the stake in a joint venture, its
first acquisition since listing on AIM, with Turkey-based IC Ictas Insaat AS,
but will have 50 pct of the voting rights.
The company said Cesme Marina will have 375 berths and hold 100 boats
onshore, upon completion, and is expected to be open and operational by April
2008.

[captainfatcat] 18/4/2007 07:05

rns out today

[shuisky] 14/3/2007 14:14

In case anyone is interested I've posted a write-up on cnmi on the fool board. I'm sure most of this stuff will be well known to holders. However, you may find some of the links to be of interest...

[billybremner] 08/3/2007 18:22

Anyone know why, according to Yahoo, CNMI's last trade was as far back as March 2nd?
Thanks.

[confucius1] 06/3/2007 09:33

lol johnsoho...it appears they need to check THEIR 'speling'....and grammar...and syntax ;)

[johnsoho] 13/2/2007 23:45

ADVFN Support....where would we be without them....anyone got an Oxford English Dictionary? :0)

My Message:
09 Feb 2007 17:02 - johnsoho
Are you able to advise me how to change spelling of a word in the cnmi thread title or are you able to do this for me?

Many thanks for any help you can give

Support team response:
12 Feb 2007 10:56 - Support Team CLOSED
I am afraid this is not possible to be done.
Please check your speling before posting
Regards.
Support

[johnsoho] 10/2/2007 21:25

This from the International Boat Industry magazine of 31 January 2007

Camper & Nicholsons Marina Investments (CNMI), a Guernsey-based company established to invest in the international marina sector, has announced that dealings have commenced on London's AIM stock market in the company's ordinary share capital.

CNMI is focused on the acquisition, development, redevelopment and operation of an international portfolio of new and existing marinas and marina related real estate.

Arbuthnot Securities Limited and Cantor Fitzgerald Europe have raised a total of €50 million through the placing of 50 million new ordinary shares at an issue price of €1 per share. The company has attracted leading blue chip investors, including a number of specialist real estate funds.

The three person management team of Marina Management International Limited, the manager of CNMI's assets, in aggregate, subscribed for more than 4 per cent of the issued share capital at the issued price.

MMI is owned and run by Nick Maris, CEO, Nicholas Papanicolaou and Sir Christopher Lewinton, directors. Camper & Nicholsons Marinas International, an existing specialist marina consultancy business, will act as investment adviser to the company.

An independent board will supervise the investment strategy of the company, comprising five directors with a variety of real estate, marina, City, corporate governance and offshore investment management experience. George Kershaw will act as chairman of the board.

CNMI will henceforth be included in IBI's weekly share price review, on the basis of the notes below:

• AIM ticker symbol: CNMI
• Placing price: €1.00
• Number of new ordinary shares placed: 50 million
• Number of ordinary shares in issue immediately following admission: 50 million
• Net proceeds of the placing: €47, 625,000

Arbuthnot Securities Limited is acting as nominated adviser and broker to the company

[johnsoho] 09/2/2007 16:43

And yes, before anyone points out the spelling of Investments in the header is incorrect I do know how to spell the word....but my fingers don't :0)

And Im actually not able to get to that line of text in the header to edit it....so my vote goes for the new word 'Investvents' and I hope that this 'Investvent' company does very well in the future!!!!

[johnsoho] 09/2/2007 16:34

I note that George Kershaw, Chairman of the independent board supervising the investment strategy has purchased 50000 shares in the company....so I imagine he has some confidence in the companys future.

Very early days yet for this outfit but I think it sounds very interesting as its the only listed company entirely focused on investing in the marina sector...and the leisure industry is growing fast