Sofia Prop Share Discussion Threads

[gregpants] 05/2/2012 03:33

Hmm having had a better read I'm just no blown away by their portfolio. I feel the guy who posted the portfolio essentially edited them down to remove the fact that the projects are all basically sat unfinished and are not, IMO, in prime locations. I'm not saying this is overvalued right now but land is dirt cheap in BG, I own several thousand square meters myself, so I don't see the NAV as realistic. I'll keep an eye on this one though, it's still reasonably good value but I think OCH is a better short term prospect as their assets are more than just building sites.

[gregpants] 05/2/2012 03:17

I'm a tad confused. As much as I'm interested in buying here I need some answers! Firstly, the projects mentioned in the first couple of posts aren't in Sofia unless my geography is very bad!! Outside Sofia, apart from possibly the seaside towns, there is very little value in both land and real estate in BG. I know the country well and the sort of properties mentioned in the various projects are numerous, scattered across BG and on the whole unfinished, abandoned etc. Why is one side of this stating that this is a company who owns prime real estate in Sofia but then confirming that they actually hold unfinished and no doubt un pre-sold projects in areas that hold almost no commercial value. This is not a deramp, I'm in OCH and tempted to buy here, could just do with a little clarification if possible. Thanks.

[fromthesidelines] 04/2/2012 12:33

So if assets are worth approx £16.5million and they are looking to sell all assets this is about 24p? even at 50% discount 12p per share.

[ihavenoclue] 03/2/2012 20:18

bbtablet - 3 Feb'12 - 16:06 - 243 of 245

The last three deals all look like buys to me.
Ihavenoclue - I'm impressed! I sold a little earlier and bought back much sooner unfortunately.

=============================

So am I ... I nearly always mess it up but got it close to perfect on both - sell that is ... should have got more at the cheaper price but hey ho

[fromthesidelines] 03/2/2012 20:16

Hans Gillis Director of Sales and Marketing, Central Europe



Has he been brought on to help sell the assets?

[pl4yer] 03/2/2012 16:48

I like this company. They are giving the money back to shareholders in Sept after they sell off assets.

[bbtablet] 03/2/2012 16:06

The last three deals all look like buys to me.
Ihavenoclue - I'm impressed! I sold a little earlier and bought back much sooner unfortunately.

[ihavenoclue] 03/2/2012 15:29

Sold at 2.95p yesterday and bought back in today at 2.1p :)

[dicko80] 03/2/2012 15:22

RNS Number : 6682B
Sofia Property Fund Limited
22 February 2011



22 February 2011



Sofia Property Fund Limited (the "Company")



(Registered Number: 43191)



Extension of Life of Company


Pursuant to Article 44.2 of the Company's Articles of Association, the Company announces that the life of the Company has been extended to 27 September 2012. Thereafter the period fixed for the duration of the Company may be extended to the date as fixed with the sanction of a resolution passed by a majority of not less than two-thirds of the votes of members at an extraordinary general meeting convened for the purpose.

[dicko80] 03/2/2012 15:05

no

it will be extended

[fromthesidelines] 03/2/2012 15:00

are they looking to sell everything by 27th sep 12 and return cash to holders?

[dogof] 03/2/2012 14:58

'oh' no its not....

[pl4yer] 03/2/2012 14:51

Buying picked up from the bottom

[sven2006] 03/2/2012 14:08

oh well, its the longterm you should think about.

[joeblogg2] 03/2/2012 12:12

Really hammering this today :((

[tomboyb] 03/2/2012 10:49

Its case of extracting value - with Astaire group - that company was trading roughly around 0.30-0.40p will a low of 0.25p when they were going to delist citing high AIM costs - however shareholders managed to get a return of 2p a share and rightly so -

That return involved a large cash element - Value was extracted to those shareholders that got in at the low ebb - SPfl don't have the cash element but do have the tangible assets - Its a case of extracting that value for shareholders -

[tomboyb] 03/2/2012 10:20

There should be some news wrt cashflow issues - i.e. asset sale / loan - looking at the NAV discrepancy i reckon there could be a cheeky low-ball offer - but thats my opinion -

[wowzers] 03/2/2012 10:13

unlikely to bring in a new non-exec unless you are confident re: sorting the short term funding? or perhaps he is part of the solution?

[tomboyb] 03/2/2012 09:15

IDMSPFL

RNS Number : 7552W

Sofia Property Fund Limited

03 February 2012

COMPANY ANNOUNCEMENT

FOR IMMEDIATE RELEASE 3 February2012

SOFIA PROPERTY FUND LIMITED

(the "Company")

Company Registration Number: 43191

COMPOSITION OF THE BOARD

The Board of the Company (AIM: SPFL) is pleased to announce the appointment of Johannes Jacobus Nicolaas Aloisius Gillis as a non-executive Director of the Company with immediate effect.

Mr Gillis, 60, is a director of Business Edge BV and Fill It Sweden AB and was a director of Experian Netherlands BV until March 2010. There are no other details required to be disclosed under paragraph (g) of Schedule 2 of the AIM Rules.

Charles Burton, Chairman, commented "We are delighted that Hans Gillis, who is based in the Netherlands, is joining our Board. He brings a wealth of business and real estate experience."

Enquiries:

Ardel Fund Services Limited, Company Secretary

Lyn Le Prevost/Sharon Williams

Phone: [phone]

Fax: [phone]
Panmure Gordon (UK) Limited

Dominic Morley

Phone: [phone]

This information is provided by RNS

The company news service from the London Stock Exchange

END

[tomboyb] 03/2/2012 09:12

There is risk but the share price is clearly supported by NAV here - the same with OCH -

[tomboyb] 03/2/2012 09:04

erm - nothing now -

[tomboyb] 03/2/2012 09:02

25k MAX online -

[tomboyb] 03/2/2012 08:59

MMs not offering much lower down are they -

[joeblogg2] 03/2/2012 08:57

Will hopefully still come good. A few buys will appearing now!!