Craven House Capital Share Discussion Threads

[karina] 19/3/2015 15:04

A friend of mine took the 500k at 363 the spread was 365/363.....

And its now 355/363 or 38 for volume. The MMs are trying to panic sellers.... showing a buy as a sell then drop the bid...... same old same old tricks....... but at least they seem to want the shares

Perhaps there's another chunky buy order in?

[knitcraft] 18/3/2015 13:47

More shares issued to adviser at 1.25p. Another good guide to true value.

[karina] 17/3/2015 16:00

Current spread 365/368

[pembury] 17/3/2015 12:47

Small buys at .3725p now showing as sell, can't get any decent size at 0.4p

[karina] 17/3/2015 12:26

£120 at 0.4 is the max online pembury for the moment. They would have to sell you 150k at 4

[pembury] 17/3/2015 12:19

Can't even buy a few hundred quids worth now?

[karina] 17/3/2015 12:12

That was my buy, not a sell.

[seismick] 17/3/2015 11:59

When you have up to £20m cash available and backers at 1.25p (bottom end) i guess it's possible pem. Feedback from agm was deals being worked so fingers crossed.

[karina] 17/3/2015 11:50

Something is driving this Pembury and its not volume, yet...

Currently you can sell at 36, and buy at 358...... unusual to say the least.....

[pembury] 17/3/2015 10:38

I hope one of them 'transformational' deals is coming to fruition?, we know they are working on a few as outlined in previous statements. Are DES involved because they are currently working on a biggun?.

[pembury] 16/3/2015 14:32

Who za buying?

[karina] 16/3/2015 14:05

Another million bought......

[pembury] 16/3/2015 12:07

Biggest for a while, keep em coming!

[karina] 16/3/2015 11:50

A 4 million buy at 38. Nice to see.

[karina] 12/3/2015 08:11

There is every chance Seismick. We have documented this in earlier posts, though its all conjecture at this stage. THE CRV LSE thread is well worth a read as well.

There is too much symmetry between the VOS, Qeton and CRV businesses for Mark Pajak not to be looking at some form of consolidation, in my opinion. Desmonds have purchased Qeton who's plan is to work in international agriculture, export/import yet they appear to have no infrastructure in place to do so. VOS are a macadamia nut producer/exporter. Take a look at the Emvest businesses CRV are involved in as well as their other SA interests and it does look like the writing is on the wall...

The recent daily rises are not based on volume.

DYOR etc etc etc !

[seismick] 12/3/2015 07:42

I believe DES are working on a deal worth north of $60m, could CRV be involved in this?. They have already stated they are working on some 'transformational' deals so is this in the plan?.

[karina] 11/3/2015 15:22

Hi CJohn,

Thanks for your comments and appreciate we all have our own views, however for the sake of balance.

You mention just 2 small parts of CRVs portfolio, you say they put in a significant amount of money in to Pressfit, that isn’t strictly true, as they paid for their stake in shares at 1.25p. No cash was paid. Pressfit are still a going concern with a healthy order book from a major shareholder. Yes they came to AIM far too soon, of that there is no question.

As for the land in Brazil, I have no way of knowing if the independent valuation is correct or not, on the other hand neither do you. Spark will have looked at the evidence during due diligence and there was no alteration, they are informed, you and I are not.

You fail to mention the euro 1.5m CRV are owed from the Dublin hotel deal.

Also the considerable land and businesses in South Africa

I could go on..

[cjohn] 11/3/2015 12:49

I've taken several looks at this company, but have been put off by the lack of clear information and a feeling that there is considerable obfuscation here.

To take one example, the company puts a significant sum of money into Pressfit, a Chinese company of highly dubious potential. I looked at quite a few such Chinese comapnies a few years ago, and without exception they had serious irregularities on their balance sheets. All the companies I looked at have since gone broke, been revealed as fraudulent, or suffered a catastrophihc collapse in share price. Why would Pressfit be an exception?

In the latest report, on the subject of Pressfit, Craven House rail against the poor management peformance at Pressfit and numerous errors made. But during the reporting period, Mark Pajak was Pressfit's Chariman.

This doesn't inspire confidence. Why the hell did they put money into such a hound in the first place? Why didn't Pajak do soemthing about the shambles? At the very least, it doesn't say much for their judgement.

Why would this be a one-off?

Likewise, one of the mooted potential valuations in the latest report strikes me as probably fanciful. The agent trying to vend the Brazilian land comes up with a dramatic figure well in excess of price paid by Craven. Why even cite this figure? There's absolutely no corroborating eveidence. This strikes me as salesmanship, rather than serious comment.

Then there's the nepotistic financial arrangnements and I could go on...

[karina] 11/3/2015 10:59

Now, the key line in the above piece is: ‘GLG said they were not a party to the specific transaction between Desmond Investments Ltd (CVE:DLC.P) and Credit Suisse Group and that Desmond independently decided to invest.’

Reading the above, I had to pinch myself twice to believe what I was reading: Could it be true? Richard Desmond, the British billionaire (No. 25 on the UK Rich list and worth £1.4billion) is directly linked to Desmond Investments Ltd? And subsequently to the elusive, off-shore investment group Desmond Holdings?

Before bursting with excitement, I decided to cross-reference the epic code provided in the article (CVE:DLC.P) to ensure that it was the same Desmond Investments Ltd linked to Mark Pajak and not another one. The evidence is in the link below:



Yes, you guessed it: I burst out with excitement. It was there – in black and white – and spotting the identical epic code as depicted in the article. And at the bottom of the screen, under the heading ‘Officers and Directors’, was the name I was hoping to see – Mark Joseph Pajak; President, Chief Executive Officer, Chief Financial Officer, Corporate Secretary, and Director.

Well, there you have it. Craven House Capital is being managed by Desmond Holdings, an investment company linked to (and aptly named after) British billionaire Richard Desmond. And the entry of Sir David Jones CBE into the picture (4% stake) adds to an already compelling story. Hold on to your shares.





.

[karina] 11/3/2015 10:51

To this end, Emvest Food Products (Mauritius) Ltd currently has one, fully-owned operating subsidiary, EmVest Eastern Cape Ltd, and 3 part-owned subsidiaries (Craven’s Emvest assets). This structure is not ideal for sweating (maximising profits) the cash-generative assets and a consolidation is likely in the medium term.

To do this, Mark will need to realise substantial synergies (of all the agricultural assets in the Barvale region) from being integrated with one another. The realisation will, at some point, involve a consolidation of some sort with all the 3 (Craven House, Desmond Investments Ltd, and EFPM Ltd) actors. And when this happens, expect a valuation in excess of £55m.

For example, the Ceniako asset has been valued at £813,401. However, it is currently being marketed for £3.6m. Applying a 49% metric on this gives us a £1.78m market valuation for our stake. To this end, add £1m to the £5.53m. Now, apply the same rationale to the Green Isle Hotel, RSB, Finishtec (land and business values), and Emvest and you’ll achieve a market valuation closer to £8.78m or 1.16p.

[karina] 11/3/2015 10:51

LSE Posts

So, are you visualising the speculative dimension? Are you visualising Craven House Capital’s new CEO? Executive Director? An experienced head in emerging markets with an exemplary track record... The City would absolutely love it. Can you see it? Three members of the BOD all hailing from Oxford University? It’s worth a speculation, don’t you think? After all, Mark is only an ‘acting’ chairman. Well, this is my wild card. It is purely speculative and I could possibly be barking up the wrong tree.

Besides that, however, Payne and Pajak, both investment bankers by profession, are likely to favour consolidation.

Desmond Investments’ proposed acquisition of AP Vos & Seuns (Pty) Limited and its related companies for £40m.The company’s property consists of approximately 1300 hectares located close to Desmond's existing macadamia nut processing factory in the province of Mpumalanga. Behind this transaction is Mark’s ultimate goal of building a sizeable, highly profitable food processing operation in Africa, the world’s next growth frontier.

Question: What does this mean for Craven House?

Answer: The company has the potential to target assets within the £25m – £50m valuation range! And with a current market cap of £3.5m, there’s substantive potential for the share price to multi-bag in the medium term.

[pembury] 11/3/2015 09:29

Max buy £300 worth. We know they are working on some deals~fingers crossed.

[karina] 11/3/2015 08:25

double post

[karina] 11/3/2015 08:25

Cannot buy any online currently.....