Lewis Charles Sofia Prop Fund Share Discussion Threads

[charlie] 26/8/2009 21:22

At the Annual General Meeting of Lewis Charles Sofia Property Fund Limited held today, Friday 14th August, 2009, all resolutions put to the meeting were duly approved with the exception of the approval of the Financial Statements and Chairman's report for the year ended 31 December 2008.

!!!

Seems a bit irregular. The accounts claim a 92p NAV but the share price is 8.5p.

The accounts also claim they have got rid of a contingent liability by rescinding their contracts with BuySell for non-performance.

Which bit did the shareholders not approve??

[fl4nders] 08/8/2009 17:23

Am I the only one in this

[fl4nders] 15/6/2009 16:20

First time this has moved in over a year!!

[redrenault2] 28/11/2007 13:04

Hi .. there is real value in their land bank .. valued at cost but they are placed in some very sweet spots ... NAV is 101 !!!! bloody hell . its a steal !!!

[stefan2006] 22/11/2007 20:49

does no-one else have these?

[stefan2006] 22/11/2007 19:42

ended up more than 7p lower - unusual for them

[stefan2006] 22/11/2007 15:47

This one has taken a tumble to day - anyone know why

[robertfuge] 06/11/2006 15:25

starting to look promising..

[m.t.glass] 30/9/2005 12:54

BKSA results came out at noon, triggering a couple of buys there . No other reaction so far, but worth reading the statement for points relevant to these other Bulgarian property stocks.

[traderabc] 28/9/2005 13:19

I hold BKSA and BPD would like to buy another. Out of OCH and LCSS I'm more inclined to go for LCSS, my reason being Hoodless Brennon have told me they are 'involved' in OCH in some manner. Bitter experience tells me that where they go small investors like me must 'bleed'. Hence LCSS may be a better route for me to take. If anyone can offer any imput regarding these two, it would be appreciated,or should I just ignore them and increase my holding in BKSA as (so far)it is a 'winner' for me. I like this 'sector' ,to me it is a kind of 'hedge' against holding normal stocks. Having been to Bulgaria and having a few Bulgarian friends in the UK, I have increasing faith in that country,regardless of it obtaining EU membership.

[m.t.glass] 28/9/2005 08:02

Ta spurge. Will amend to include that one in chart comparison shortly. Meanwhile added thread link.
Edit: Comparison chart amended.

[spurge] 28/9/2005 05:46

M.T. don't forget BPD as well.

[m.t.glass] 27/9/2005 15:49

Can't yet base comparisons on a LCSS chart, but here's how the four Bulgarian property stocks look on a 6 month BKSA chart:



Current capitalisations by size OCH £76m, BKSA £61m, LCSS £38m, BPD £4.7m

[m.t.glass] 27/9/2005 15:46

Here's how it was described a fortnight ago:


Lewis Charles Sofia To Raise GBP50 Million In AIM Float

Edited Press Release

LONDON -(Dow Jones)- Lewis Charles Sofia Property Fund, an investment company focused on investment in the Bulgarian residential property market and, particularly, apartments and villas to be built in and around Sofia, said Tuesday that it plans to float on AIM.

The company said it will, however, have the flexibility to invest in residential property elsewhere in Bulgaria if suitable opportunities arise. The fnd will also have the ability to invest in land, and in property-backed and joint venture projects (which could include ski resort and golf course projects) with local and other partners (including banks).

The fund will have a maximum life of seven years expiring on Sep. 27, 2012. The manager intends to arrange the property portfolio so that it can be realised in an orderly way by the end of six years. The fund has secured purchase options over 954 properties (out of which 63 represent luxury villas, and 891 represent luxury apartments) to be built over 12 separate sites in central Sofia and its southern suburbs.

The fund's directors offer an array of expertise in respect of evaluating proposed investments including that gained in careers in portfolio management, banking for the Bulgarian National Bank and Banking Risk Management.

The company plans to issue shares at 80 pence per share and raise up to GBP50 million.

It is expected that dealings will start on Sep. 27.

The company's nominated adviser and broker is Panmure Gordon (Broking).



(END) Dow Jones Newswires
September 13, 2005 05:03 ET (09:03 GMT)

[m.t.glass] 27/9/2005 15:45

Another London-listed play on the emerging Bulgarian property market. Click news panel item for AIM submission document in full. Four marketmakers currently quoting in 25,000 lots (nms 5000).

See also Cezary's thread on BKSA and abcd1234's OCH thread
and mangal's BPD thread
& energyi's o/all Bulgaria thread

Issue Date 27-Sep-2005
Issue Price 80.00p Lead Broker Panmure Gordon
Market Cap £38.68m Contact Tel [phone]
Method Placing - Sector Real Estate - Market Aim
Amount Raised £38.68m -

Directors include Lord Howard of Penrith, deputy chairman of Lehman Europe, and MP Desmond Swayne, parliamentary secretary to Michael Howard.