Core Vct I Share Discussion Threads

[fillipe] 28/2/2017 11:21

RRR + 7.41% - getting ready....

f

[andrbea] 28/2/2017 10:01

lgt 8%
nice chart

rns today
Simon Rogerson, Chief Executive of Octopus Investments, commented: "We are very pleased to be extending the existing range of Luceo funds that we manage for Lighthouse to include Luceo 3 and Luceo 7. It's a natural step to take in order to provide customers with a more complete proposition, and we look forward to working closely with Lighthouse over the coming years to build an industry leading investment fund range. Like the other funds, these new risk-targeted funds are managed by our well-established multi manager team, and are designed to deliver consistency and reliability, with complete focus on delivering the outcome the customer expects."

[yawn1] 28/2/2017 09:40

RRR

News soon?

[fillipe] 28/2/2017 09:16

ELA - 51p. BUY with a couple of 21st Feb tp's of 95p and 149p from Panmure Gordon and Cantor Fitzgerald, respectively.

f

[ileeman] 28/2/2017 08:52

PIP

Cheap

[ileeman] 28/2/2017 08:52

WSG

Darwin to be expected and forward sold, equity raise not that great but with the job vacancies they have open looks like this is about to come into play imo. Bought another 40k this morning.

[gimmetheloot] 28/2/2017 08:22

Craven house

We are pleased to be able to report on the considerable growth in the Company's asset base that has delivered in the six-month period to the end of November 2016.

Following multiple capital raises at a premium to the then prevailing share price and the acquisition of assets utilising Craven's shares as acquisition currency, we are able to report a significant increase in the Net Asset Value of the Company to $21.5 million. An increase of over 120% since May 2016 and 210% since November 2015.

The Company's results are reported in US Dollars for the first time; reflecting the fact that the Company's shares began trading in US Dollars during the period and that the underlying transactions, events and conditions that are most likely to impact on Craven's performance are more closely linked to the US Dollar than the GB Pound.

Despite Craven only undertaking one material investment during the period, the Investment Manager continues to evaluate a number or prospective opportunities and we look forward to reporting further investment activity in the coming weeks and months.

THE BOARD OF DIRECTORS - CRAVEN HOUSE CAPITAL PLC

INVESTMENT MANAGER'S REPORT FOR THE SIX MONTH PERIODED 30 NOVEMBER 2016

As reported at the time of the release of the Company's full year results in November, the six-month period to 30 November 2016 was a period of transformative activity for Craven House.

Including the placing that occurred just prior to the start of the period, the Company raised $14.7 million in new equity at an average of $12.50 per share over a six month period and acquired a further $2.9 million in assets utilising the Company's shares as acquisition currency at an average of $12.21 per share.

As a result, the asset base of the company, on an NAV basis, more than doubled between May and November 2016 and has more than trebled in the twelve months to November 2016.

The majority of the new equity raised was deployed by the Company during the period by way of intercompany loans to Craven's subsidiaries in South Africa ($1.5 million) and Angola ($9.5 million) and, as previously announced, has begun to be invested in these respective jurisdictions, with further investment activity expected to be announced shortly.

As was announced in August 2016, the Company successfully completed the disposal of its investment in the Green Isle Hotel and Conference Centre for a total ROI of 214%. The value of all portfolio investments remained materially unchanged at the period end as there have been no matters of which the board are aware which would in their opinion impact the carrying value of investments.

The Company's income statement shows a profit of $1.604 million for the period. The vast majority of this profit relates to the timing equity fund raises that occurred in May and June 2016; prior to the UK's EU referendum. This profit reflects the gain made as a result the dramatic movement of the GBP vs. USD immediately post the referendum; hence this profit is reflected as a positive administrative expense, rather than a portfolio return. This also accounts for the majority of the $2.153m positive cash flow from operating activities.

As previously reported in July 2016, the Company was unsuccessful in its application to join the Specialist Fund Segment of the London Stock Exchange's Main Market, however successfully completed a share redenomination and consolidation on the 1(st) August 2016.

As at the period end, NAV stood at $21.5 million versus a market capitalisation of $17.9 million. Since this time, selling pressure from certain shareholders has seen the share price trade an increased discount to NAV; as of the 24th February 2017 Craven's market capitalisation stood at $9.9 million - less than half of the Company's NAV.

As we have stated repeatedly, we remain undeterred by volatility in Craven's share price; we seek to buy good assets selling below their intrinsic value and our goal is to continue to grow the asset base of the Company and to acquire assets that have a long life and maintain their value in times of trouble. We successfully completed one such transaction since the detailed update provided in November; the purchase of a 500-hectare parcel of land in Canavieiras, Brazil - a property that benefits from 7.5km of direct ocean-front real estate.

Whilst we continue to evaluate a wide range of prospective transactions, the only other material event in the three months since the release of the year-end accounts occurred at the Company's AGM in January, whereby shareholders approved a broadening in the scope of the Company's Investing Policy to a global mandate.

100 %discount to NAV

[yawn1] 28/2/2017 08:04

RLH Good news

WSG Bad news

[baggariddim] 28/2/2017 07:08

SEE Seeing machines signs multi year contract with US goods distributor.Finally! 4.25

[sep800] 28/2/2017 01:16

PREM - RNS

Very cunning of George !!!
He is proving to any potential Buyout offer for ZULU , that he won't take anything less than multiples of the current market cap.
Having the option to go alone with further funds available in the future only cements to outsiders that ZULU will be worth increasingly more !!!
So whilst talks behind the scene and what ever the negotiations were said during the world trade conference, this his way of a stating a public announcement that PREM can go it alone. This will make any offer for ZULU much more desirable.
With DL promoting ZULU they both have their interests set to maximise to the full. Will warrants be excised at 0.8p,
course they will, it make total business sense.

As usual DYOR

[langster] 27/2/2017 22:38

IOG

Could be about to land a producing asset to go with the pipeline acquisition.

Fast forward to 8 minutes - Ben Harrington has his ear to the ground.

Relatively small free float here - BOD have lots of skin in the game - when she moves she moves fast!

[barnetpeter] 27/2/2017 15:17

hope others caught the aminex and solo tank....

[andrbea] 27/2/2017 13:11

mafl 34%

eg read post of 12.54h on LSE (malf) by euclid55

[effiert] 27/2/2017 12:21

TLOU!! BOOM!! BIG RNS JUST OUT!

[barnetpeter] 27/2/2017 12:10

ECR...half a million investment and lock in by

Shenyang Xinliaoan Machinery Co Ltd ("Shenyang" or the "Investor") based in the People's Republic of China,

very interesting! Think this will race up to 3p over next few days.

[blueblood] 27/2/2017 11:53

PGCE in at sub 0.15p and looking for at least 2 bagger on news

[mostro] 27/2/2017 11:25

KOD, I am in for a few more at .24p , hope to be near bottom!

[judge grinder] 27/2/2017 11:16

KMK
just bought a few

[mostro] 27/2/2017 11:15

TOM going further down the drain, soon be negative share price but will probably try and raise yet more cash somehow!!

[barnetpeter] 27/2/2017 11:06

got my buy prices on both UJO and on PCGE.

[andrbea] 27/2/2017 11:01

Tern worth a look IMO, see post 59683.