Craven House Capital Share Discussion Threads

[karina] 15/5/2015 19:50

Lse PostsAny guesses on share price reaction to this on Monday? Surely a bit if an increase at least.

[karina] 15/5/2015 18:55

It's a good deal better than that.Lse post sums it upGreat timing lads.. Because its not completely clear in the RNS, that Euro 1.5m is clear profit as there was an upfront payment which was mentioned on the 21st November 2013. As previously announced, Craven House borrowed EUR0.7 million from Desmond Holdings Ltd, the Company's investment manager, in order to acquire the Loan. As a precondition of converting the Loan into the Mortgage and releasing the original security over the hotel, Craven House received sufficient funds from the Hotel to fully repay the original EUR0.7m borrowed from Desmond Holdings.

[mortimer7] 15/5/2015 18:39

Guess that's OK. I think the uplift from 700k to 1500k was taken to P&L when the deal was done, in which case this is effectively just cash back in to the company to utilise as working capital or another investment.

[karina] 15/5/2015 18:19

RNSThe Company announces that it has executed an agreement to assign the mortgage it holds over the Green Isle Conference and Leisure Hotel ("Green Isle") for a cash consideration equal to the mortgage amount of €1,500,000 to Viridian Hotel Group Ltd ("Viridian"). The 4% yielding mortgage provided Craven House with a monthly income of €5,000; the loan was due to be repaid in November 2016. The Company's investment in Green Isle was originally acquired for €700,000. The consideration is to be paid in two instalments of €1,000,000 on 15 May 2015 and €500,000 on or before 14 November 2016. The agreement contains an option in favour of Viridian to put the mortgage investment at par back on the Company in the first 90 days following completion.

[karina] 14/5/2015 14:55

LSE Post

Nice toToday 08:37see some early morning buying.

Incredible when you think about the amounts EK has been accumulating, either through a distressed seller, other large holders behind the scenes and more importantly on the open market, yet the price has barely moved. His buying far outweighs any selling over the last few months. As we've seen though the buys are often at close, ensuring very little attention and keeping the price down imo

[500k postsofinanedrivel] 14/5/2015 08:49

anybody seen monkey puzzle

tell him to check in at PTV disaster please

[karina] 14/5/2015 08:32

Morning Chumpster

A decent start to the day. The first sign of buying and the MMs moved to kill it asap

Can sell huge amounts way over the quoted bid.

It does look like they are trying to fill a very large buy, but we shall see.

[chumpster10126] 14/5/2015 08:01

Morning Karina, I must admit I can't see the red ticks, possibly because I access the site via an iPad? But I'm not fussed.So, are we going to see more fun and games today? Are the MM's going to sell a few straight after opening to force the price down?

[karina] 13/5/2015 15:16

Who ticks you red every post, its very sad !

That's how it appears Chumpster but until its declared I will not bank on it. A couple of the buys were friends of mine that spotted the limits change this afternoon.

Could be Mr K or perhaps a defensive move by Desmonds/Pajak or maybe someone else with deep pockets has spotted whatever Evan has.....??

[chumpster10126] 13/5/2015 15:11

Karina, we can therefore deduce there's a big buy waiting. And looking at recent buys this afternoon, others believe that too. Mr K going above 30%?

[karina] 13/5/2015 14:51

From be able to sell next to SFA this morning you can now sell 10 million online........ yes 10 million

[karina] 10/5/2015 11:47

I think there can be no doubt. Emvest were removed from the tear sheet some time ago yet the RNS took months to issue. All part of keeping Evans involvement as quiet as possible for as long as possible?Same with Fibera, gone from the tear sheet but no RNS......It would appear to me that this all orchestrated....

[chumpster10126] 10/5/2015 10:30

Another nice find Karina. Bearing in mind Desmond's close links with Emvest, is it fair to say that MP was fully aware of EK's purchase of CRV shares?

[karina] 10/5/2015 09:18

I missed Evans other London property Chumpster, he has an apartment in Kensington as well, value also £6m.....

[karina] 08/5/2015 16:42

Good to see Emvest still hold 2.4%

[karina] 08/5/2015 11:52

I am not so sure. A man like Evan is used to trading with high and fast returns and of course losses in his past. I cannot see him wanting to tie nigh on £1m up for overly long.

IF he has changed residency for tax reasons then that says to me he sees the potential to acquire CRV, attain the true value we all know Craven should warrant quickly and then perhaps re sell the business or at least sell some of his holding. We all know full well the value of CRV has been held back, CRV admit as much themselves, it would take very little to transform the share price in a short space of time. Add in the potential Saudi deal.......

If he "merely" doubles his money, the change of residency saves him over £100,000 in tax......

This is not my area of expertise but it all makes sense in my world..... :-)

[chumpster10126] 08/5/2015 11:40

Nice find Karina. I'm therefore surmising the Evan is in it for the long haul?

[karina] 08/5/2015 09:59

What about this Chumpster. Evan has just given up his US citizenship, I was going to dismiss this BUT

US Capital Gains tax is punitive for short term stock investment, ie you are taxed at your standard US rate so up to 39.6%

A UK citizen is taxed at up to 28%

Clutching at straws, maybe, maybe not.

[chumpster10126] 08/5/2015 09:26

Wasn't aware of the New York property, but if these deals do come off, (and we've been let down by false hopes before...DAN), then I do believe 4p is realistic. Only time will tell. Any news from CRV is welcome, but as we've said before, let's not hold our breath!

[karina] 08/5/2015 09:19

Not an easy man to find info on is he ! He has a place in New York as well,
I could too if your 4p proves accurate !

[chumpster10126] 08/5/2015 09:17

Lol Karina. I also researched EK! I managed to get a look at his house too. Wouldn't look out of place as a residence for Alan Sugars apprentice lot!

[karina] 08/5/2015 09:13

Would agree with all of that Chumpster.

CRVs current market cap is still less than half the value of Evans London home..... makes you think.

[chumpster10126] 08/5/2015 09:04

Firstly, EK is a multi-millionaire, so finding another £125k etc is no problem. The issue with CRV is that it's share price doesn't reflect its assets. It has a NAV of £3.5 m or thereabouts. Assets of £10.5 million or thereabouts (CRV Data). It has two "transformational deals" on the table. And we know they are working on a deal with the Kenyan and Saudi Governments. No figures have been released, but a guesstimate from Observants is around 3 times the current asset value. CRV do deals at 1.25 pence a share. Based on these factors alone this small aim company is probably worth upwards of 4 pence a share. I'm guessing EK knows this and wants to make a killing. But of course, these are my opinions, dyor.

[karina] 08/5/2015 08:54

Purely a guestimate but I think Desmond have supported the company to the tune of approx £1m - the cost of the loans and supporting the travel, legal and regulatory costs which don't appear to have been paid by the company directly. In addition to that they raised capital from the sale of new shares via an offer that must have been placed with their "friends" when they initially took control, their "friends" invested £750k at 1.25p. If they are happy with the buying of EK and the eventual end game, surely they will need it to be somewhere north of 1.25p to recoup their investment and to keep their friends happy. I can't understand why EK wants to control an aim company with such a small NAV when any shell with a bit of PR would be worth that and would cost a lot less. To get over the 30% he will have to lay out another £120k depending on the prevailing share price or it is already in the bag - Very interesting, but also a complete puzzle

[karina] 08/5/2015 08:54

No sign of an RNS confirming Fibera have sold their shares, its long odds on of course that they have gone into the hands of Mr Kalimtgis, I thought that was a legal requirement?

Is it me, or is this all just a bit wishy washy on the admin front? We still have no idea where Mr Kalimtgis has got several per cent of his holding. One would have thought that before announcing his increase some sort of proof would be needed, because if it wasn't, anyone could claim they owned untold shares.

Absolutely nothing either in the papers or online ( if there is I couldn't find it ), yet this is potentially huge news which could have a major impact on CRVs future. Why not?

Why aren't CRV milking his involvement for all its worth?

Why are there no updates to our businesses?

Why are emails being ignored?

I wonder what Desmonds make of all this? for so long they have been the biggest shareholder by a mile, that crown has gone..I would bet plenty has been said about it in private though.

I am truly surprised that CRV haven't issued some sort of statement regarding his huge purchases, then again we are talking about CRV who take silence to a whole new level. When they do wake up, they may find that Mr Kalimtgis owns a lot more of the company than even they thought. He needs very little now (in his way) to hit 30%, and CRV could then have a battle on their hands.

If I was at CRV I would start releasing news/updates to the market, I would interact with shareholders and create some interest, a broker note from Spark would help. By doing that Mr Kalimtgis would be forced to pay more for any additional shares he required, that way it makes us less attractive as a takeover ( if that's what he intends ).

At this time he has had it all his own way, it seems only LSE readers and a couple on advfn know about this. People rarely read holdings RNSs I'm afraid, and how many of us on here? 10 or so?

Looking at the silence from CRV, I'm not totally convinced a lot of this hasn't been done with managements blessing, in fact its looking more likely as we go along.

Time will tell !