Palace Capital Share Discussion Threads

[dd776] 01/8/2011 13:05

You meen u hope

[tara7] 01/8/2011 08:23

So, we now have up to six months for a deal, after that, they are dumped out of Aim.

I think we will see some news by then.

[tara7] 27/7/2011 13:15

See investing policy.

[solarno lopez] 27/7/2011 07:45

well the CEO is 67 or more!!!

[tara7] 27/7/2011 07:41

Care homes ring a bell.??

[solarno lopez] 27/7/2011 07:36

a good lock away

[tara7] 27/7/2011 07:34

"No small deals,"

Sounds good to me.!!

[tara7] 27/7/2011 07:33

Property week:



Home News News by Sector Finance & Recovery

Sinclair and Perloff join forces
17 September 2010 | By James Whitmore

Email Share Comment Save Property veterans aim for acquisitions after buying 30% of Lipman shell Leo Insurance


Three veteran entrepreneurs have taken control of an AIM-listed shell company and plan to turn it into a property business.

Neil Sinclair, the 67-year-old founder of property agent Sinclair Goldsmith and former chairman of investor Mission Capital, has teamed up with Panther Securities chairman Andrew Perloff and company registration entrepreneur Stanley Davis, to buy a 29.9% stake in Leo Insurance Services.

The trio bought the stake from Larry Lipman and his brother, Errol, who run the small listed property company, Safeland. The group paid around £48,500 for the 2.16m shares at 2.25p each. This week the shares were trading at 3.38p.

The Lipmans demerged Leo from Safeland in March 2005 and subsequently bought a 50% stake in property insurance company, Grafton. But, after making no further acquisitions and Leo running at a loss with net liabilities of nearly £100,000, the Lipmans decided to search for "alternative options".

Although they have sold a 29.9% stake in Leo, the Lipmans still retain around 17% of the company's shares and, through Safeland, have bought the 50% stake in Grafton for £90,000, leaving Leo as a shell. The £90,000 consideration comprised £15,000 in cash and the offsetting of £75,000 of debt owed by Leo to Safeland.

Sinclair, Perloff and Davis have changed the name of Leo to Palace Capital and are embarking on a new property strategy.

This marks a return to the listed sector for Sinclair, after a bitter falling-out with Elliott Bernerd at Mission Capital. Sinclair and his daughter, Emma, founded the firm in 2005 with the backing of Chelsfield Partners, set up by Bernerd and Sir Stuart Lipton, and Bernerd through a private investment vehicle.

But the Sinclairs were ousted in early 2008 and brought an action against Mission Capital, citing a "sudden and brutal coup". A settlement was reached last year.

Sinclair, who is managing director of Palace Capital, said the cash-strapped company, which only has £75,000, would fund purchases with shares.

"Any deal will effectively be a reverse takeover, so there's no point in just doing small deals," Sinclair told Property Week. The initial investment focus is car parks, outdoor advertising and billboarding, and care homes. Sinclair and Davis, who is chairman, believe that parking is a recession-resistant business and that shortage of capacity in many towns is a significant issue.

[tara7] 27/7/2011 07:27

From the iii board.

The Perloff factor.

The co has little in the way of assets and they have indicated they may have to raise money in order to seek further acquisitions. Seems they are moving into car parks.

All this takes me back to when AP got involved with EKT. Elektron was a company that had gone through radical restructuring 6/7 years back and had net assets of about £1 million. Perloff came to the rescue with a loan and further cash in order for EKT to make an acquisition. The first acquisition paid off big time EKT bought Arcolectric from the receiver and the co was obtained for a substantial discount to its net asset value. From memory Perloff's shares in EKT were obtained foer about 5p. They are now valiued at 5 times that plus dividends. Moreover AP is the largest sdhareholder of Elektron and the net asset value of his shares doubled i value in about 6 years.

It seems there will have to be some sort of placing, or rights issue however the upside Perloff being involved here can only be good news imo.

[tara7] 27/7/2011 07:14

Why would you post your results on Wed 27th when it would be cheaper to put them out on Fri 29th [with a statement that the stock is being de listed from the stock exchange.]??

To me, deal is done as we are told news will be given asap.

Next 59 hours hours will be fun!!

End of day for news is 6.30pm Fri.

[solarno lopez] 26/7/2011 15:02

30 July Looms Large

[tara7] 22/7/2011 20:03

£300k no other stock that cheap.!!

Even if it gets suspended you could see it come good, [as its not de listed]

[balcony] 22/7/2011 19:01

Well just a week for news or the share will be suspended,I am tempted to have a punt as the company is only capped at 300k

[argy2] 09/11/2010 23:29

When it comes you won't be able to buy, unless of course they accompany it with a placing. But if they are shrewd they will have run the price up before then.

[comedy] 08/11/2010 20:18

cheers argy..will just sit on them..typical you sell at a loss and the deals arrive and then you pay premiums to try top get stock back..so will just put these in the bottom drawer.

[argy2] 02/11/2010 18:47

comedy

Hi there. I have quite a few too although I'm still well in profit. That said I think this one will really come to life when the deals start coming at which point you would struggle to pick up so many. If you are able to just sit and wait then I think you will be very well rewarded. This is a tiny company with some well respected names now looking for deals. When they come this will multi bag imho though 'when' is still the operative word. Good luck.


PS I'm sure there will be days you can top slice along the way if you feel so inclined.

[comedy] 02/11/2010 18:34

argy whats ure take here? sitting on 150k...my 100% profit dissappeared due to buying heavy on the peak..

[eye2] 02/11/2010 14:15

does anyone have offer/bid limits on this ples

[jamie62] 02/11/2010 11:12

could be....and I hope so!

[argy2] 02/11/2010 11:01

Bit of buying late last week, maybe more enquiries with MMs today?

[jamie62] 02/11/2010 10:56

unexpected tick up!

[jamie62] 26/10/2010 13:26

good results

[ntv] 13/10/2010 11:26

sold a few more y'day

[fortune44] 07/10/2010 09:27

Take a look at pen



Contract has been awarded for an initial two year term through to the
31st of March 2011 and has a maximum value of $CA 6.0 million. In addition,
there are three one year extension options in the contract, which if exercised
will extend the period of the contract through to the 31st of March 2014 and
raise the maximum value of the contract to $CA 15 million