Goldenport Share Discussion Threads

[jonntara] 22/4/2016 16:35

I'm still in I'm afraid but the value of my stake has dropped to the point where I didn't even see a 70% drop.Feel sorry for the people who bought in at £62.50 when it was floated.

[meijiman] 22/4/2016 16:10

Yes I'm afraid that Dragnis is about as trustworthy as a kebab salesman in Omonia Square. An utter disgrace.

[jonntara] 22/4/2016 15:57

Well that looks to be the end of that.

[anusol] 22/4/2016 11:06

Fortunately I got out of here a long long time ago - but looking at the RNS it appears they are selling the ships to another family business at $1 each ! Surely this isn't as corrupt as it appears?!?
I'll give em $2 a boat ....!

[anusol] 22/4/2016 11:04

I think 'sunk' might be an appropriate term....

[anusol] 24/3/2016 14:36

Looking odd !

[chinese investor] 24/3/2016 12:50

Looking Good !

[mister md] 17/3/2016 11:40

extremely risky to invest (gamble) now though

[mister md] 17/3/2016 11:40

rewind to 19 June 2015 - and that was felt to undervalue the company ...

The indicative offer price discussed was GBP(GBP) 1.20 in cash for each Company share and it is subject to the condition that the offer be recommended by the independent directors of the Company.

[meijiman] 15/3/2016 10:34

Invest in a company run by incompetent crooks.
What's the end game -nothing for shareholders? Any views?

[mister md] 15/3/2016 09:51

"More specifically, the Company suspended the servicing of its debt on 22 January 2016 and
has been in ongoing negotiations with its lenders to restructure its loan facilities. One of the
options that the Company has been exploring is the sale of certain Vessels to the Dragnis
family (through LC1, LC2 and LC3, all of which are controlled by the Dragnis family),
subject to the novation of the Company's outstanding debt related to such Vessels.
"

[jonntara] 14/3/2016 17:59

Dragnis family.

[jonntara] 14/3/2016 17:58

I wonder if the related party buying the vessels is the Frankie family.

[mister md] 14/3/2016 12:13

"In the event that all three lenders grant a formal consent to novation of their respective
facilities and all the Vessels are sold, the Directors will seek Shareholder approval for the
dissolution of the Company".

So even at these levels not worth a punt

[meijiman] 29/1/2016 14:25

Yes but this lot aren't in tankers. They are in bulkers where the market is dire.

[anusol] 25/1/2016 14:23

understatement of the year !

[jonntara] 25/1/2016 12:42

Doesn't look good today.

[hmt] 27/11/2015 21:46

Why the massive drop,can understand that the sector at lowest point for 30 years, and only 9mill shares, and recent offer of 1.20p this could see a big bounce at some point,assuming the sector starts to show any improvement, any thoughts anyone?

[bozzy_s] 27/11/2015 17:18

Apologies, just noticed I made a mistake - I was using the ADVFN market cap figure.

It seems that's miles out (by a factor of 10). Approx 9 million shares in issue = approx market cap of £2.6m. Therefore it dropped by roughly £1.3m on £5000 of share sales.

At that valuation vs NAV, as has been noted above, these seem to represent decent risk v reward, especially given the recent rejected related-party takeover offer of 120p per share.

[meijiman] 27/11/2015 17:12

Yes spot on. Market makers trying to dissuade other sellers. Should have seen this coming.