Greenko Share Discussion Threads

[exbroker] 20/10/2015 15:18

No problem, this is not a simple deal,lots of things need to happen before we get our hands on the cash!

[hutch_pod] 20/10/2015 14:50

Ah I see! Ok thanks for clarifying.

[exbroker] 20/10/2015 14:36

Hutch_Pod I did mean April, they don’t have to pay the money away as soon as the disposal completes it could be up to a year under the terms of the AIM listing, but I hope it will be a bit earlier than end April.

[tromso1] 20/10/2015 12:08

‘So although the investment has not worked out as I had planned, I would recommend voting for the disposal and continue to hold Greenko’s shares as I firmly expect the share price to rise from 87p to around 100p before the end of this year.’

[hutch_pod] 20/10/2015 07:36

Presumably you meant November....

[exbroker] 19/10/2015 22:45

owenga
Deals like this always trade at a wider discount than you expect, just look at PLUS, 400 on the table, only needs to be cleared by the FCA and deal completes, but as it is not covered by the Code there is a bigger spread.
I have bought some Greenko today as I think we get 98p, I think by end April with a bit of luck.

[marvelman] 19/10/2015 15:39

Because they are not trusted owenga...even when they offer it on a plate. Who knows what rabbit they may pull out of the hat before pay day...best stay out IMO...we were mugged.

[owenga] 19/10/2015 15:36

So why have we ended the day at only 86.5p?

[hutch_pod] 19/10/2015 12:26

Looks like they've managed to keep costs to a minimum. Also Cantor worked it out pretty accurately with their target price of 98p

[chalky] 16/10/2015 10:11

anyone comment on why numerous buys today

[hutch_pod] 30/9/2015 14:51

Which section do you refer to re directors?

The current implied discount of 30% ish is pretty fat i think personally.

[marvelman] 30/9/2015 11:56

Yes, they can't even tell us the full truth even at the end. I note that the directors have been looked after...of course.Not worth gambling that we would get anyware near the suggested net value after various factions have had their cut.

[hutch_pod] 30/9/2015 10:50

Agree in the minimal outlook for earnings - but the key now is conclusion of the sale and impact of taxes/costs.

[liam1om] 30/9/2015 09:38

Not a holder here although have been in the past. Thanks Dr_Smith for highlighting your concerns.

[dr_smith] 30/9/2015 08:56

I sold my holding 12 months ago, as I couldn't track progress with so many side-deals/sister co's etc. I was also concerned that targets for increasing power where met by diluting ownership/reward for 'current' shareholders.

Reading todays statement nothing appears to have changed.
Targets for increasing power are mentioned, but increasing EPS or value for shareholders is conspicuous by its absence.

I sold 12 months ago at £1.72 and today they are £0.70, even after the 5% jump.
If holding/buying these shares, please have substantiated reasons and factor in and justify the risks.

This co. is mot like FTSE 350 co's, and more time needs to be spent researching them if you propose dealing with them.

Operating in India in a market of demand does not phase me, but this lack of transparency on shareholder value and these side deals and joint ventures eroding shareholder value is a killer and todays statement does not suggest that will change.
The drop is share price from £1.70 to £0.70 is the unfortunate but predicted outcome of my concerns.

I have shared these concerns in earlier posts and wish to make us PI's more aware, in the interest of community spirit. I have no financial interest in my sharing my opinions.

Please DYOR. All IMO :-)

[hutch_pod] 28/9/2015 09:49

I've not seen any news.

I do wonder given GKO has a registered address in Isle of Man and the shares for sale are in Greenko Mauritius, whether any CGT payable might be quite low. Mauritius has very favourable double tax treaties with India but the sale of the shares might be covered under Isle of Man CGT - which seems to be low/nil? Can't really be confident what applies, but the current discount implies 38% of costs!

IC said to hold at 80p as it the costs on disposal seemed to be far less than implied by the discount (from 105p).

Cantor Fitzgerald upped their target to 98p after the RNS, implying 7p/share worth of costs.

[ravimb] 24/9/2015 09:08

what happened to the sale - GKO to GIC? Has it been finalised? or struck up?

[divmad] 23/8/2015 12:17

You're not suggesting that Indians are corrupt, are you?

[bozzy_s] 21/8/2015 15:27

Did well buying at 40 QS99. Many longer termers would have paid 100 - 150, the company seemingly being undervalued at those prices (vs net tangible assets on balance sheet).

The promise of explosive growth in the next 2 or 3 years as all production comes online. Debt being managed and repaid by operating cashflow. Nothing to stop the company from growing and being successful, and the shares finding their level at maybe £5, maybe £10. Then someone takes it away at the last minute - with the company's blessing - paying well below the average share price for the previous 5 years.

[qs99] 16/8/2015 09:46

doesn't seem great, but hard to decipher the RNS IMO especially the profit warning...am happy to be in at 40 level and out at 80 level....not bad for a few months!

GLA and on to next share (tucked a few OPAY away ahead of full listing and results this month but don't expect that to "bag" as quickly).....TUNG very high risk but has a good chance of progressing quickly IMO but only if next RNS is v. +ve...all IMO....amongst others...(ahem including STM which spiked nicely IMO Friday ahead of results)...

cheers

[bozzy_s] 14/8/2015 14:57

Daylight robbery.

[scrutable] 14/8/2015 14:45

I also am confused and angry with this cryptic and therefore incompetent piece of IR, but am travelling in France until Aug 21. Unfortunately with my hearing loss I cannot use a mobile phone. Would other investors please phone Tavistock or chairman Keith Henry for clarification. They are bound to answer investors on the day of the RNS, which is why the authorities insist on all RNS have these contact details.

Is this a sale of the operating company and assets by a holding company in which we have shares? Is this subject as it seems to be, to an EGM? Do shareholders really have any say in this?

Why is such a promising company being sold at so close to the current capitalisation when the operating performance is so good? Should it all not wait until after the interims?

Otherwise the assets risk being sold to insiders with inside information at far below real value.

good luck be with you

Greenko Group plc
[phone]
Keith Henry
Mahesh Kolli
Anil Chalamalasetty

Tavistock Communications
[phone]
Matt Ridsdale/Mike Bartlett/Niall Walsh

[hutch_pod] 14/8/2015 13:44

I found this.. Clearly it's not possible to be sure but always nice to have some idea.



"Gains taxed as business income and short-term capital gains are taxed at 30% (if the seller is an Indian company) or 40% (if the seller is a foreign company). Long-term capital gains tax is 20% (or 10%, in some cases relating to off-market sale of listed shares) and need not be paid for the on-market sale of listed shares if securities transaction tax is paid.

Tax exemptions may be available in case of corporate reorganisations.

In certain circumstances, if shares are purchased below book value, the difference between the consideration and book value may be taxed in the hands of the buyer at 30% (if the seller is an Indian company) or 40% (if the seller is a foreign company)."

[nosnibord] 14/8/2015 10:43

Another AIM casualty.

[marvelman] 14/8/2015 08:59

Agree hpcg..we do not have the real story and a bit of smoke and mirrors from the management who no doubt are going to be looked after.I think on balance that I can make a little bit at 74p but we will see...only a small punt.