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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Sovgem | SOV | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 16.00 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 16.00 | 16.00 |
| Top Posts |
|---|
Posted at 20/5/2009 15:40 by jhan66 Agree with that topvest. I'm only interested in SOV when there's a sufficiently large NAV discount. I suspect it's bigger than the directors have been indicating through this merger but not big enough for me. Glad you've recovered your investment. |
Posted at 20/4/2009 16:20 by jhan66 Hi Bardfield1, I bought SOV a week ago for about a sixth of the price I sold them in late 2007. Net assets looked substantially more than the share price, to protect the downside. My remaining concern was whether the price would just sit there. No dividend, no liquidity, no noise. I've held too many bargain shares over the years which though undoubtedly undervalued, refused to budge. I guess the market perceived them as `for the benefit of the directors' & without dividends there was never any progress. Hopefully Sovgem doesn't come under this category. Good luck in recovering your outlay. |
Posted at 20/4/2009 14:16 by bardfield1 Good posts jhan, I'm a long term holder of SOV (sitting on a big paper loss), holding on and hoping that we will see some recovery over the next twelve months.Nice rise today on very low volume - I presume in expectation of results and an updated NAV. |
Posted at 11/4/2009 16:50 by jhan66 More background.Oct.08 Amerprise sold 2.275M SOV shares. Oct.08 MM bought 2.275M SOV shares increasing his holding to 3.329M. Dec.08 MM trimmed his stake to 2.875M Dec.08 PL declared 1.336M shares MM & PL are Investment Advisers at TML (domiciled in Jersey probably in St.Helier near Sovgem) Paul Luke Chairman of TML Paul Luke is co-founder and former chairman of Convivo Capital Management Ltd., a UK fund management company. He has worked in the City of London since 1977. Between 1977 and 1986 he worked at the Bank of England and the Cabinet Office. Thereafter, he held various senior investment banking positions within the West-Deutsche Landesbank and Deutsche Bank Groups, and was a director of Deutsche Morgan Grenfell. Michael Milbourn Director of TML Michael Milbourn has been involved in the London financial community since 1970 and for ten years ran a successful Emerging Markets trading and financing business. In 1995 he made the transition to Chief Operating Officer at West Merchant Bank during a major transformation of the business, in which role he assumed responsibility for all operational, administrative and support activities as well as being chairman of the operations committee, counterparty risk committee and promotional activities committee btw. results probably due this week ahead of the AGM |
Posted at 27/3/2009 11:53 by jonwig Thanks for that - hadn't come across Hybridan before.But on p14 they say SOV has a residual holding of 816,000 shares in Harbin Electric. Surely not! |
Posted at 14/1/2009 17:00 by jonwig Hi Mr MD - I think we 'experts' left SOV some time ago.I updated and had another look recently but haven't followed-up. The main problem, as I see it, is that the China economy looks to be in a pretty dire strait. I have respect for the management, and don't see them acting unethically ... but must add 'IMO'. Mid-March for the FY results and NAV update, I think. |
Posted at 27/1/2007 09:59 by coroon Very quiet here nobodys posted for about 6 weeks.Same on the website, no news since Oct. Harbin had a very good rise yesterday nearly 37% news that they are moving onto NASDAQ Global Market on 31st Jan. Sola just keeps going up and up, lovely share, I wish every one I bought increased at that rate in only a few months,I hope SOV have locked in some profit,giving them loads of cash for the next investment and maybe a small divi to keep us PI's happy. |
Posted at 13/10/2006 11:26 by hugepants jon, Yes agree a 10% rise in SOLA since last NAV update wont be too significant. I bought a small amount of SOV again on the fall so its just me ramping. I notice a Russian fertilizer company's AIM floatation was recently pulled due to concerns on regulating etc a Russion company. So possibly that contributed to SOV's fall because it makes a near-term float of Tynda more unlikley. Shouldnt be too significant though given SOV have 14 investments just now. |
Posted at 09/3/2006 07:51 by milner2 SovGEM Limited09 March 2006 Press Release 9 March 2006 SovGEM Limited ("SovGEM" or "the Company") Investments SovGEM (AIM: SOV.L), the emerging market finance house, today announces three further investments totalling £550,000. SovGEM has invested £200,000 in CEP International Petroleum Limited ("CEP") an oil exploration company with onshore exploration licences on the Kamchatka Peninsula in the Russian Far East. CEP is an unlisted company that will seek to float on the AIM market in London in 2006. SovGEM has invested £250,000 in Sinosoft Technology plc (AIM: SFT.L) a leading Chinese e-Government software provider. Sinosoft started trading on AIM on 6 March 2006 and SovGEM has purchased 1,300,000 shares at 19 pence per share. SovGEM also announces it has purchased 666,667 shares at 15 pence per share in KimCor Diamonds plc (AIM; KIM.L) costing £100,000. KimCor is a new mining and exploration company with two projects in South Africa. The Company is able to update the Directors' estimate of NAV at 25.1p as of close of business on 7 March 2006 representing an increase of 96.55% from the initial asset value of 12.77p on flotation on 23 November 2004. Commenting on these investments Hugh de Lusignan said: "SovGEM continues to see an extremely wide range of investment opportunities in China related and other emerging markets and the broad range of our investments fully reflects this." For further information: SovGEM Limited Hugh de Lusignan, Chief Executive Officer Tel: +44 (0) 20 7389 0655 hdelusignan@sovereig Media enquiries: Abchurch Charlie Jack/Dana Thomas Tel: +44 (0) 20 7398 7700 charlie.jack@abchurc Notes to Editors SovGEM Limited is an emerging market finance house incorporated in Jersey. Its geographic investment focus includes China and other emerging markets. SovGEM joined AIM in November 2004 (stock symbol: SOV). |
Posted at 08/10/2005 18:12 by jonwig HP.The Benchmark Agreement is a bit complicated as to terms of severance, but these from the prospectus; The Benchmark Agreement is terminable, inter alia, in the event that SovGEM declines to participate in three successive private equity opportunities introduced by Benchmark under Benchmark Agreement. [This may well have happened?] The Benchmark Agreement includes a three year non-compete covenant on the part of SovGEM which provides that SovGEM will only be able to make private equity investments in China under the terms of the Benchmark Agreement and will not conduct investment banking or consulting activities in China without the prior written consent of Benchmark. Therefore, it is possible that in the event that investment opportunities were not forthcoming from Benchmark, or if the investment opportunities were not of a sufficient quality to enable the Directors of SovGEM to commit funds, SovGEM could be left in a position in which the Benchmark Agreement both failed to provide investment opportunities to enable it to achieve its business model and was unable to source opportunities in China. In this event, the Directors may resolve to liquidate the Company. Any return of capital to the Shareholders in these circumstances cannot be guaranteed but in any event would be substantially below 50p per Ordinary Share. [We know this last bit well enough: the rest is opaque.] The Benchmark Agreement terminates automatically in the event that SovGEM fails to invest 75 per cent. of its investable capital within six months of each private or public financing transaction of SovGEM (which would include the Fundraising described in this document) or if SovGEM refuses to participate in three consecutive private equity transactions presented by Benchmark to SovGEM. In this event the Directors would, subject to any restrictions imposed upon it by the Benchmark Agreement, seek another partner in China and other opportunities in emerging markets. Generally however, in the absence of appropriate opportunities, the Directors would be likely to resolve to liquidate the Company. Any return of capital to the Shareholders in these circumstances cannot be guaranteed but in any event would be substantially below 50p per Ordinary Share. [Again a bit opaque, and what about penalties? - none are mentioned.] Regarding tax: The Company is incorporated in Jersey and has been granted tax exempt status in that jurisdiction. The Directors intend to maintain that status. Should any tax authority challenge that status the Directors intend to defend the Company's tax position. However, should that status be challenged successfully at any time the Company's profits may be subject to taxation at a higher rate than is payable under its current status. Regarding shareholdings: Three significant holders connected with Benchmark had a total of 23.44% of SOV prior to admission, which became 16.94% after admission. Now 16.94 ÷ 23.44 = 0.723, exactly the required figure for selling out 27.7% at 50p on placing: ie. the Benchmark interests gots theirs f o c. |
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