Springfield Properties Share Discussion Threads

[solarno lopez] 29/8/2014 12:37

What another correction more corrections and they will run out of tippex

Take the scenario .....get cheap shares on a placing that private investors cannot apply for ...then sell at a significant profit.......

[solarno lopez] 08/8/2014 07:40

Talk about lining your own pocket.....this latest announcement beggars belief

Now read posting 28 how right it was

[juicin drumroll] 07/7/2014 11:33

You can add comments to the Share Prophets article.

hTTp://www.shareprophets.advfn.com/views/6403/shareprophets-tip-of-the-week-buy-ca-sperati-at-a-425p-offer

ShareProphets tip of the week: Buy CA Sperati at a 4.25p offer
By ShareProphets | Sunday 6 July 2014



Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

We spoke to the main man at CA Sperati (SPR) a couple of weeks ago and sense that after months of waiting, the summer could be action packed. This a 156 year old company making buttons and trimmings in a factory in Greenwich London. It recently transferred from the Full list to AIM. The Button business is massively sub scale and not a high growth market – we do not care about buttons.

During the past eight months Jason Drummond and Jonathan Rowland have come on board, a freehold site has been sold and £250,000 raised at 4p. At a 4.25p offer price (the spread is 3.75p– 4.25p) the market cap is c£820,000. We reckon that net cash is c£350,000 to £400,000 there is no debt and Jason Drummond has plans.

Historic results are pretty much irrelevant. The only thing that matters is cash and following the sale of a freehold property and a placing earlier this year net cash is £350,000 to £400,000. Now we come to Drummond and Rowland who own 22% between them. Rowland provides financial clout although Drummond is very wealthy too and he is the key man.

You might associate him with an AIM disaster Media Corp but that was his younger brother in charge. Look back a few more years and you will see that Drummond made stunning returns for shareholders in the dotcom boom. Perhaps more importantly the businesses he established were real business which are still going today, albeit having been sold at the right time.

Drummond and he knows the technology/new media and e-commerce sector well. We know this sector is back in vogue but Drummond is not going to be rushed into a deal. Having said that we know some investors have grown bored waiting for him to act. That is a mistake, we sense that he is now ready to strike and that will transform Sperati.

There are risks: Tech stocks might tank. Drummond might not find a deal or do a bad one. But we have faith in the man. He has an excellent track record and he and Rowland have skin in the game. They are not there just to double their money. We think that the summer months will be exciting ones for Sperati and the shares are a buy at up to 5.5p with an initial target share price of 12p.

[melodrama] 15/5/2014 12:27

Rowland wants a deal, a successful one, so people don't keep referring to him as "the son of the property developer David Rowland". Me being thick, but have they discontinued the fashion trading biz, cannot see any ref to discontinuing the trade in any RNSs

[neilrr] 15/5/2014 10:29

sl, what happened to the info on his early career you were digging out.

[solarno lopez] 15/5/2014 06:36

So Drummond was involved with the Purple Lounge and Media that is most interesting

[neilrr] 14/5/2014 19:09

PURPLE LOUNGE - THE SCANDAL THAT WILL NOT GO AWAY (Update)

14th May, 2014 :: 09:31:25

Source: Casinos Online

Players' group lodges complaint with stock exchange & Serious Fraud Office.

With an estimated GBP 650,000 still owed to players of the now collapsed online poker site Purple Lounge (see previous reports) the issue continues to escalate following recent actions by directors of parent & former public company Media Corporation - since delisted for not submitting accounts.

Readers will recall that former directors Jason Kingsley Drummond, Justin Piers Drummond, Nilesh Jagatia & Christopher Simon Gorman handed Media Corp & the crippled Purple Lounge asset to Philip Jackson, who claimed that he had placed the Purple Lounge company in Malta (which had allegedly held all player funds) in liquidation.

It has since been alleged that this is not true, & the Maltese company continues to languish with neither funds, licence or activity.

The Player Claim Group pursuing Media Corp for payment of the Purple Lounge monies they had entrusted to the care of management says that initially Jackson appeared amenable to some sort of arrangement that would satisfy the aggrieved parties, but after one meeting a London lawyer named John Botros was called in & rejected all player claims to be creditors of Media Corp.

It is reported that Jackson subsequently moved on to another gambling company, Boxhill, leaving Botros effectively running the ailing Media Corp.

Although effectively broke, Media Corp reportedly does have some "assets", including a GBP 11.5 million tax loss & two cases of litigation against London solicitor firms.

Media Corp's woes mounted when Her Majesty's Revenue & Customs commenced winding down proceedings on a tax issue last month, & to save the company from liquidation Botros recently proposed a Company Voluntary Arrangement, the process to be managed by Antony Batty & Co LLP as nominee & proposer.

Such arrangements are conditional on the support of 75 percent of creditors, & Botros allegedly accepted the Players Claim Group as bona fide creditors of Media Corp & asked them to support the CVA.

In return, subject to conditions, Botros offered to pay the players 1 percent of their losses, increasing to 8 percent of losses if the company was allowed to continue operating & managed to secure funds from its pending litigation or tax losses.

The players felt there was a better chance of getting their money - or at least part of it - if the company was allowed to go into liquidation, although they did not say as much to Botros. Liquidation would also facilitate a full & independent investigation into how Media Corp was run by former & present directors, the players believed.

After two adjournments the issue went to court on May 8, but it seems that more creditors had appeared, diluting the players' influence, & in any case the players were not allowed to vote for reasons that are not at present clear.

The CVA proposal was narrowly voted in, leaving the players to seek legal relief on the issue, a process that is now underway.

Dissatisfied players are questioning the surprise GBP 2 million in creditor claims that appeared in the proposals submitted by Botros mid-April prior to the CVA hearing; these are alleged to be considerably more than the late 2013 admissions by the company.

The Player Claim Group is still encouraging players who lost money in the Purple Lounge debacle to come forward, because it believes the sums owed to players may be substantially larger than is presently thought.

On Tuesday, the Player Claim Group also confirmed that it has laid a criminal complaint with the Serious Frauds Office regarding the actions of past directors & the manner in which the company stock was allegedly manipulated.

The group's legal counsel has assembled a detailed & comprehensive picture of the issue over the past eight years, supported by documentary & other evidence & details of former directors.

A Players Claim Group spokesman said Tuesday: "We are awaiting a response from the SFO to let us know whether or not they are launching an investigation.

"During the course of events The Players Claim Group & others have uncovered facts around Media Corporation, Purple Lounge & former directors....which are believed to indicate a much wider & deeper fraud. It could take a number of weeks before they decide whether or not to launch a formal & full investigation."

[solarno lopez] 15/4/2014 11:33

Notice how they slyly drop in an announcement well after the market close.

They had to be sly because once again the poor suffering shareholders are suffering and not for the first time a decrease in the cash received from the sale of their only property in a residential district of London. Yes London where property prices are on the increase.

They received the deferred cash on the 10 April so could have announced to the market any day there after and at any time.

But as they suffered the embarrassment of a further reduction in the cash receivable they thought how best can we hide this ..ah yes announce after hours

Nothing changes with this bunch

[soft t] 10/4/2014 15:50

only sales where from?

[neilrr] 07/4/2014 09:10

What did you find solarno?

[neilrr] 01/4/2014 12:32

Anything here ring a bell?


Note the many edits in 'history'.
Drummond watches & prunes daily to try to keep the lid on his 'legacy'.

[solarno lopez] 01/4/2014 10:35

I am looking for it, it was a tech business

[neilrr] 01/4/2014 08:53

solarno,

Post up what you know of Drummond's early history pls.

[solarno lopez] 25/3/2014 14:03

look at the companies he first brought to market back in the 90's