Sofia Prop Share Discussion Threads

[tomboyb] 28/6/2012 07:56

How about they sell some of their assets - I'm not sure about this RTO.

Morning!

[bozzy_s] 28/6/2012 07:38

Ahhhhhhh, it's multibag or bust now. Depends on how good this RTO is. Everything crossed..........

[bozzy_s] 28/6/2012 03:52

Looks like they always publish results on the last possible day before automatic suspension!

Hope there's some positive news on their projects - such as one or more being in the process of being sold.

[tomboyb] 26/6/2012 09:18

Results should be out by the end of the week at the latest -

[still waiting] 24/6/2012 11:59

for a business that is cash rich looking for a listing this is the perfect vehicle..

cheap way to market and plenty of assets that can be sold off to Qatar etc as the market recovers...

[bozzy_s] 22/6/2012 17:16

Flurry of activity today. Glad to have started it off. Looking for any sort of intent to dispose of properties in next week's announcement. Even at 50% of 'market value' would represent a large premium to current share price. And there must be buyers willing to pay a discounted rate.

[tomboyb] 22/6/2012 15:41

I don't think any value will be attained from the buy/sell debacle - imo

[the troll] 22/6/2012 14:24

& remember, the Co's still owed E19.0m ( lost deposits & penalties ) by BuySell; a settlement @ just 10% of that ( 2.8x current MV ) would transform Co's fortunes. BOD has always spun a positive line on this, ie talking of 'realistic possibilities ', etc, hopefully, next week's update won't disappoint.

[tomboyb] 22/6/2012 13:03

Well when u consider at 1p it is capped at 670k - so u can see the potential upside. I think the question is how much?

This morning - when it came to "stated NAV" SPFL was trading at 2.5% of that value - so a 97.5% discount - what the ACTUAL NAV will be remains to be seen!

[greedfear] 22/6/2012 12:59

ECDC also Bulg prop trading @90% discount.

[the troll] 22/6/2012 12:56

OCH also seeing decent volume this morning; both stocks are trading @ 90% + discount to last reported NAV but SPFL gearing ( & thus risk of holding ) materially lower ( all IMHO ).

[tomboyb] 22/6/2012 12:00

up 35% - If the NAV is anything to go by or more realistically a percentage of it - then buying at these levels could be very profitable -

[tomboyb] 22/6/2012 11:50

28% up - 3% total equity bought and at below 1p -

[tomboyb] 22/6/2012 11:31

Over 2% traded so far - There is a seller providing some stock here - but could almost be out -

[tomboyb] 22/6/2012 09:46

Whether the management like it or not - they will have to update the market buy next week at the latest!

[tomboyb] 22/6/2012 09:37

Interest in Bulgarian property 'at an all-time high'
Article Date : 15 June 2012

[bill-e] 22/6/2012 08:21

The following is an extract from the company web site, so we only have to wait 3 months to see exactly what the NAV is for real???


"The Fund should be liquidated and proceeds distributed to shareholders by 27 September 2012 (7 years from launch) unless shareholders vote to extend the life of the Fund."

[tomboyb] 22/6/2012 08:09

morning - looks like you've got yout 300k bozzy - almost 0.5% total equity for £2k

[bozzy_s] 21/6/2012 19:20

Think it's gotta be worth a little punt now.

Limit order placed. Not many shares, I expect it'll be filled on the opening bell.

[the troll] 21/6/2012 17:05

well at least this thread's livened up after virtually dying off when the OCH 'exhuberance' faded away. lot's of interesting things happening, keep looking-in !

[tomboyb] 21/6/2012 16:00

Indeed troll - either a fantastic bargain or simply an "alice in wonderland" - Having said that it doesn't do the AIM market any favors - Why? Because IF and that is in capitals - the true value is reflected by management - then u get the impression this will go for much less than reflected value -

The question is - what is true reflected value?

[the troll] 21/6/2012 15:54

tomboyb; something really stinks here; last reported NAV = E 17.9m ( 26.6 euro-cents per share ) & surely on that basis, you simply can't justify today's share price as 'the market'; there must be something we've not been told about ? maybe we could put together a consortium of PI's & offer them 500K for it as if I'm reading it correctly, we simply need sufficient working capital to carry us to a local market recovery ? an 'Alice in Wonderland' suggestion ? maybe, but a truly fictional situation this !

[tomboyb] 21/6/2012 15:51

That was the stipulated NAV - however clearly not the case at £500k cap - whether it was before has yet to be deciphered.

Question is what is it now? - I'm sure we will ind out soon!