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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Lon.Asia China | LCP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 13.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 13.00 | 13.00 |
| Top Posts |
|---|
Posted at 06/11/2008 09:49 by damanko Simon, you may well be right, but the market trusts nothing about this outfit, nor any of its directors - or NAV statements, whatever. I bought some a couple of years ago, and have watched the inexorable downward trend.I didn't sell - simply to teach myself a lesson. I did the same years ago with iii, luckily it was at the height of the dot com boom, so I was only able to subscribe for a few hundred iii shares. I have a distinct feeling that LCP paperwork will be going on the wall with the iii certificate. |
Posted at 20/10/2008 10:19 by buffin Disposal of Holding in Asia WindLACPEF (AIM: LCP), the China focused investment company, announces that it has sold its entire 11.11% holding in Asia Wind Group Limited ('Asia Wind') for a cash consideration of £2.0 million. The Company originally acquired the holding in November 2006 for £3.0 million. Simon Littlewood, Director of LACPEF, said: 'We have spoken recently with the majority of our shareholders and share their concerns about the large discount to published net assets per share at which the Company's shares are trading. We believe that accelerating the realisation of certain of the Company's investments should help reduce the discount. Because of its heavy reliance on debt for financing its projects, Asia Wind's business model has been severely affected by the credit crisis, which has forced it to postpone its plans until there is more stability in financial markets. With no expectation of being able to profit from our investment in Asia Wind in the short term until financial markets stabilise, and in the light of the discount at which the Company's shares currently trade, the Board has decided to dispose of the holding now at a loss, rather than wait for Asia Wind to be able to exploit its business model over the long-term, thereby freeing up some cash for other purposes.' |
Posted at 09/10/2008 15:38 by handycam just spotted this on sharecrazy:LCP The Plot Thickens. Back in June I warned investors about the pompous-sounding London Asia Capital Private Equity Fund (AIM LCP). The published NAV was then 136p and the share price 75p. The share price is now 35p and the latest reported NAV is 143p. The market's refusal to believe in the stated NAV is understandable. The new auditors (the old ones resigned ) explain that the groups 14 illiquid assets are valued using "a variety of methods and makes assumptions based on the market conditions at the end of each balance sheet date" or to translate the valuations are what the directors tell us they are. Of the groups four investments listed on PLUS at the balance sheet date one, China New Energy (the groups largest single investment) has since been suspended, and two of the others China Biofuels and Dalian have not submitted audited accounts to Plus as required under the rules. What is perhaps most strange is that the group has booked through the P&L a\c around £7mn in performance fees due to its "investment consultant"London Asia Capital in the last two years of which the cash flow statement shows £3.1mn to have been paid already. London Asia Capital is suspended on Aim due to the non appearance of its accounts and its new CEO seems unclear as to where this money has gone. London Asia Capital has no executive directors and on my last look was being run from a language school in Falmouth Cornwall. Trying to find who exactly at the company is providing £7mn of advice to its client in two years is proving somewhat problematic. To recap: the company,s performance and the record keeping of the companies in which it has invested is highly questionable and the whereabouts of the fees it has paid out to its investment consultant are unknown by that consultant's own CEO. If this isn't one for AIMs regulators, I don't know what is. |
Posted at 24/6/2008 17:45 by egoi Robsy, China Education Group, for want of that better word, "vanished".COMG, suspended and apparently "gone the journey". LDC "suspended". LCP next in the firing line? I wouldn't be investing in these people myself. As to what, or how, or even why, I don't care to even hazard a guess! I hope you can get back value from your holding. |
Posted at 17/6/2008 13:06 by damanko egoi, I think nick is correct, regarding the situation with CCEP. Also, the LCP NAV is already considered with great caution, the share price alone tells us that. Whatever, it'll be interesting to see how this pans out in a few years.Most ADVFN posters (but by no means all), don't seem to have the patience for this kind of time frame. Part of me thinks I've made a mistake by putting money into LCP, knowing what I did at the time, about London Asia. Anyway, time will tell.... |
Posted at 17/6/2008 12:37 by egoi Damanko, the LDC stake in CCEP - alone - appears to be worth the entire LDC market cap. So why is LDC suspended, unable to produce accounts on time, and announcing such negative RNSs? On the face of it including cash and all their investments I suspect LDC would have a nav of something like 10p a share. Yet it is suspended at under 3p. Given that some of the same people are involved in LCP I think the LCP nav must be considered with great caution - and I would personally factor in a very large discount into the share price for its management. PS: Cap, I agree with your comments re CNE, trouble is, we both thought that about CEG at one time! |
Posted at 17/6/2008 12:01 by damanko As you (so rightly) say Buffin, FWIW ....I bought some of these early 2007, and carried on buying on a monthly basis for 6 months or so. I saw it as long term stuff then, and still do. However the tie in with London Asia always bothered me, I posted the comment (shown below), and didn't really get much in the way of an answer. I knew at the time that London Asia itself was regarded with suspicion by people in the City, you only have to look at the other BB thread to see that these suspicions appear to have been valid, and a lot of PI's will have lost money there. Although I remain a little wary of Simon Littlewood & the other people behind LCP, the business model still seems okay, & the news emanating from the fund is generally positive. Unfortunately the negative stuff coming from London Asia, in terms of RNS's & general BB comment - continues to have a drag on the LCP share price. If the NAV you mention is even 75% correct, the fund itself should prosper. Eventually. With current market sentiment though, it may take a year or so to sort all this out. From my post 116, a little over a year ago: "For those of you with decent knowledge of London Asia, is there an image / historical problem with the City boys? Doesn't seem very well regarded in the square mile, I just wonder if there is any particular reason?" |
Posted at 13/6/2008 11:31 by robsy2 egoiHeh heh! Again joking aside, I admit I am a bit flummoxed by this one.I exited LDC some time ago money, more or less intact.LDC needs money, so they need to exit LCP investments and get some of the fees pending. I will see how it plays out, it trades at a deep discount,though it always seems to track down with the Chinese market,it never tracks up. Has a decent roster of Institutional investors as well which could provide some comfortand what looks to be a red hot set of investments....... |
Posted at 12/6/2008 19:49 by robsy2 Posted on LDC site for completeness I wouldn't be too hard on LCP. Despite the fierce head wind ie.it appears to be the deals that make the money for Littlewood et al, further down the line you'll find the likes of me ,the poor shareholder. I feel that, despite all the fuss,and the creaming off of money, commissions of 5% are common etc etc and perfectly legal; if they can't make money and create a bit of shareholder value in China given their postioning and the fact that these fast growing companies are getting new capital, someone must be doing their due diligence? then I will be very surprised and a bit poorer! |
Posted at 05/6/2008 15:33 by robsy2 Well the debacle at LDC is affecting LCP.LDC is a dreadful organisation. I sold out some time ago. It is a shame , they promised so much but were unable to deliver. I have kept hold of LCP because the value looked too good to give up on . The research reports I've seen confirm that the NAV of LCP has grown impressivley. It still looks like a hot ticket but inevitably tainted.I'll sit it out.Any comment welcome! R2 |
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