Craven House Capital Share Discussion Threads

[karina] 13/2/2018 14:20

Not wanting to influence you in any way DC but CRV have put wheels in motion to issue
more shares

Just 8,844,400 .....................

At $12.50 that would certainly liven things up ;-)

[daicaprice] 12/2/2018 16:15

An I still haven’t managed to get in, wanted a bit more out of EVRH this morning but will join the party shortly but not under $5 I guess.

DC

[rusty9717] 12/2/2018 15:46

Hello hello! Up nicely on tiny value of buys.

[karina] 09/2/2018 16:24

Can only buy 2 shares online DC !

[daicaprice] 09/2/2018 15:48

Down 12.96% is a bit harsh mate, good opportunity if I had any cash!

DC

[karina] 09/2/2018 15:23

Its about £4500 worth DC and yet look what its done

Maybe someone booking a summer holiday.......

[daicaprice] 09/2/2018 14:30

Why the sell off today?

DC

[daicaprice] 08/2/2018 08:08

Partial loan repayment sneaked through after the bell yesterday I see.

DC

[oilbuy] 13/12/2017 18:42

G now holding 10% wow

[oilbuy] 01/12/2017 06:59

After hours RNS yesterday $3 M profit. If we bag today were still well below NAV.

[daicaprice] 30/11/2017 22:22

No I’m not, I took a spike in the old days. Will try on the bell under $7.

DC

[steve1845] 30/11/2017 21:55

Are you still in DC? Where do you see the share price going tomorrow? As a holder of many years myself I've often been disappointed by lack of interest following good news

[daicaprice] 30/11/2017 21:04

Well done all, especially karina who has been here with faith for years.

DC

[oilbuy] 23/11/2017 12:38

Going to move

[cjohn] 31/10/2017 07:47

If I was Sretaw, i'd go for a cash settlement, before the trial. This would likely amount to 10m mínimum? 8m break clause + Craven's costs.

Sretaw could well lose, and if they do, the cost to them could be much higher than 10m pounds. The judge could order the original transaction to go through. This would obviously be a tremendous windfall for Craven. It seems to me they could then themselves sell Panda on and make a huge profit, (tens of millions) given Panda's likely valuation in current circumstances.

However, Sretaw also have a significant chance of winning the trial - though less thean 50% in my view, based on the limited information we have. And their legal advice may be over-optimistic.

So Craven could end up losing and having to bear their own legal costs. Given the judge's comments in the discovery trial re the solidity of Craven's case, I can't see Craven being held responsable for Sretaw's costs.

[karina] 30/10/2017 16:42

That's fair comment CJohn and mirrored by the fact its a 10 day trial now.

I do find the actions of the Panda directors a positive sign that they fully expected the deal to proceed.

"Waters also agreed to pay €3m to Murray and Brian McCabe, a senior executive, if the deal was done.
McCabe and Murray were supportive of the deal, and even considered investing their €3m into the corporate vehicle that would be used in the takeover."

Sretaw have far more to lose here than CRV IMHO, as you say a settlement is very possible.

All the press I have read states that Waters realised he had undersold in a recovering economy. Lets hope he does not have enough wiggle room to get himself out of this one.

[cjohn] 30/10/2017 16:31

Having read the article, it seems to me that this is far from a certain victory......

[cjohn] 30/10/2017 15:58

Thanks for the link, Karina.

[karina] 30/10/2017 10:17

Whilst CRV do not feel the Panda case is yet to be classed as material, the Irish Times clearly do. You can log in to read two articles for free so do not have to subscribe.

[karina] 27/10/2017 10:29

I have indeed, apologies CJohn

I think the Judge has fairly openly criticised Sretaw so hopefully this is a very encouraging sign and Sretaw will indeed settle pre trial. The Business Post state that the break clause is 8 million Euros, a decent starting point for negotiations ;-)

[cjohn] 27/10/2017 10:11

Hi Karina, i think you must have mis-read my post, (or perhaps I put it badly......)

It's Sretaw who claimed CRV's case was frivolous, not me!

Sretaw argued that CRV's slight bungling of the compliance process was a reason to strike out the whole case against Sretaw. The court decisively rejected this view, and the implied assumption that CRV's case was in some way frivolous or unactionable.


PS I have quite a sizeable holding here.


All the best

[karina] 27/10/2017 09:44

Hi CJohn

Thanks for your thoughts. Why do you think Sretaw may settle if CRVs case is as frivolous as you state?

[cjohn] 27/10/2017 09:27

Hi Karina,

The main thing is that Sretaw have failed to get the case struck out, on the grounds that Craven have not complied with the discovery process; and that that lack of compliance was an illustration of the fictitousness and frivolity of CRV's case.

But Sretaw's line of attack has been rejected by the court.

[karina] 26/10/2017 11:01

I would say its incredibly positive Steve, though it does not make for easy reading for us mere mortals !

My take on this is that Sretaw have being trying to find out what documents CRV have to prove the 78 million Euro deal was put in place and Mr Winters has played a blinder in keeping these from them until the full trial.

The next date in the legal diary is currently the trial at the end of November, the questions is will Sretaw want to take a chance or will they prefer settle this earlier not knowing what they will be facing?



Conclusion
18. For the reasons aforesaid, all the reliefs sought by Sretaw in the within application are respectfully refused.