European Convergence Share Discussion Threads

[grahamg8] 17/5/2008 08:51

Just in case anyone was wondering the Mcap is 100x that shown by ADVFN. They have the number of shares correct but the price is shown in Euros not cents. Sterling quoted shares are posted in pence not Pounds. The Mcap formula doesn't seem to have coped with this difference. My post #7 implied only a little cash was added to the distribution, in practice it was quite a lot, roughly 9 million Euros. This means the remaining NAVps net of debt for Veliko Turnovo and the small cash pile remaining isn't too great. Bby my calc about 24 cents, just a little above the share price I'm even less inclined to buy at current levels. The share price relies heavily on speculation of the ultimate selling price of the VK Mall and that's difficult to predict in the current property climate.

[ciscogaz] 20/2/2008 10:49

I also only hold a few. Not sure if you have read this; and this ---> "European Convergence Development Company" worth a punt?

[grahamg8] 19/2/2008 08:45

Ciscogaz, the distribution was 94 Euro cents mainly proceeds of property sales plus a little surplus cash. It was an initial payment in the sense that the management have said they will sell off all assets and return all money eventually. Yes I still have some of these. Would top up if the price was right but the wide spread is rather off putting. The unknown is how much Veliko Turnovo can be sold for, and how much cash is still left in the business. My judgement is that the sum is higher than the current share price but not by so much as to overcome the risk that I might be wrong. Holding for now and awaiting news.

[ciscogaz] 18/2/2008 08:36

more buys and reading the last rns I note the 1 euro was an intial payment. Are these worth investigating?

Do you hold grahamg8

[grahamg8] 16/2/2008 08:57

Wow, a thread at last. After the capital distribution there is only the Veliko Turnovo Mall left which is earmarked for sale. An announcement is overdue which suggests the sale is in trouble. Thus any brave traders are guessing on the price of a shopping centre in Bulgaria.

[ciscogaz] 15/2/2008 09:10

Check out the two big buys yesterday lunchtime 50k each

[andrbea] 15/2/2008 07:15

mine did (Share Centre)

[love it] 14/2/2008 13:51

My on line broker does not recognize ECPC

[andrbea] 14/2/2008 13:19

some interesting trades today

125k 'L' at 0.23
and a 125k buy

as one of these was a 'L' maybe it's not a rollover

someone bottom fishing?