Sofia Prop Share Discussion Threads

[falia] 27/1/2012 14:00

mkt cap only 1.1m

[falia] 27/1/2012 13:58

shake is over , gave me a chance to buy more ,this is heading all the way to 3p today

[dicko80] 27/1/2012 13:55

Induna,

22nd Sept

BuySell


As highlighted in our previous report released at the end of June 2011, The Company is still in talks with various parties, including BuySell with a view to resolving its outstanding claims. Although progress has been slow because of the complexities of some of the issues, The Company continues to believe that there is a realistic possibility that the talks will be concluded successfully and hopes to be able to make an announcement detailing progress later in 2011. This would clearly be a positive development for the Company and its shareholders. However at this stage the Group still values the BuySell inventory as nil.



The Company rescinded six contracts with BuySell, a Bulgarian property development company, on 17 April 2009 due to BuySell's non performance of their contractual duty to deliver completed properties in Sofia to the Company by the due date. As a result of BuySell's non-performance the Company is entitled to claim the repayment of its €9.5 million deposit plus penalties of an additional €9.5 million. "

..............................................................

"The Company continues to believe that there is a realistic possibility that the talks will be concluded successfully and hopes to be able to make an announcement detailing progress later in 2011 "

...............................................................................

5th Dec

"The Board has noted the movement in the Company's share price. Whilst the Company is low on cash, it has a number of viable options before it. These include further loans, asset disposals or OTHER TRANSACTIONS which would enable the Company to continue its business.

The Directors are confident that they will be able to make a further announcement during the coming months on one of these options."

...........................................

reading between the lines.....

Sept, they hoped for a succesful conclusion and hoped to update later 2011....

Dec, "other TRANSACTIONS"

???????

[falia] 27/1/2012 13:54

bought some more

[des56daw] 27/1/2012 13:54

Why don't Buy/Sell just offer say 4p a share get all the assets and get rid of any liabilities

Regards
Des

[tomboyb] 27/1/2012 13:54

I reckon someone could simply make an offer for the entire equity - it would be an absolute winner VERSUS the NAV here -

[tomboyb] 27/1/2012 13:50

50k max - indeed as with OCH -

[induna123] 27/1/2012 13:49

24p/share property portfolio with another 24p/share payment from BuySell. If cashflow is a problem surely they can get a loan against 48p/share worth of assets?

[dicko80] 27/1/2012 13:41

yup sellers cleared me thinks :-))

[induna123] 27/1/2012 13:40

Hopefully we've finished with the lunchtime sellers. Now let's see an afternoon rally.

[tomboyb] 27/1/2012 13:40

MMs not offering anything -

[pitot_heat] 27/1/2012 13:39

Has Djok done the jock?
Rather watch SPFL flatline for the past few weeks than tennis ;)

[tomboyb] 27/1/2012 13:37

Buying opp indeed!!

[tomboyb] 27/1/2012 13:36

Ohhh - Good attempt Murray ! Fantastic match -

Back to SPFL -

[tomboyb] 27/1/2012 13:35

Riviting tennis - Dj on matchpoint -

[falia] 27/1/2012 13:34

mkt cap only 1.2m

[tomboyb] 27/1/2012 13:14

Go murray go!!

[pitot_heat] 27/1/2012 13:07

Real gains to be had once it clears 2p.

[dicko80] 27/1/2012 13:00

one step at a time Falia ;-))

[falia] 27/1/2012 12:54

3P BY CLOSE

[dicko80] 27/1/2012 12:51

BACK UP we go :-))

[tomboyb] 27/1/2012 12:44

Its an interesting situation whereby we know there is a cashflow problem but debt is minimal indeed - But also such a wide gap in discrepancy in NAV and again the same in OCH -

[p@] 27/1/2012 12:43

sold half mine for 1.9p with TDW