Starvest Share Discussion Threads

[brando69] 12/1/2011 14:35

no, that wld definitely be a sell at 16.4. they are not letting any stock go at that kind of discount

[brando69] 12/1/2011 13:23

in last 2 trading days we've gone from 17.25/17 to 17.25/15.5. keep dropping the bid, and yet sb has just taken 25K shares at the full ask.

Since the last NAV update there is absolutely no doubt that the NAV has increased substantially thanks to KEFI and BEM. Today alone the portfolio value is up almost £500K

[brando69] 12/1/2011 13:21

yes, think that clears it up - thanks chaps. 4m it is by the looks of things.

shame they sold the 2.25m shares in October. missed out on around 40p a share

[thedaidai] 12/1/2011 12:48

16th Sept 2010

Following the issue of the Conversion Shares, Starvest is now interested, in aggregate, in 6,250,000 Ordinary Shares representing approximately 4.09 per cent. of the Company's enlarged issued share capital and the Company no longer has any indebtedness.

13th Oct 2010

following the disposal of 2,250,000 ordinary shares in the capital of the Company on 12 October 2010, Starvest no longer holds a notifiable interest in the issued share capital of the Company.

I make that 4m shares unless SVE have sold any more since - no disclosure necessary

[maxbubble] 12/1/2011 12:36

Shares have been issued for loans - it was just the interest query but it looks like they paid the interest mostly in cash.

so back to 4m shares at the mosts owned by starvest imv.

[brando69] 12/1/2011 12:26

BEM will be approaching a 100m market cap valuation then

[brando69] 12/1/2011 12:24

if SVE are still entitled to call in their loan in shares in BEM, that makes a massive impact to the portfolio valuation

[brando69] 12/1/2011 12:23

are you sure about that Max? that would obvious make a difference and make more sense in terms of the SVE holding

[maxbubble] 12/1/2011 12:22

total number of voting rights, will be
159,796,689.

[brando69] 12/1/2011 12:19

hmmm

confusing

according to advfn, BEM has 105,900,000 shares in issue.

If a notifiable interest constitutes 3%, that would be just over 3m shares.

That would mean that SVE now has less than 3m shares.

However, if it has the right to call in its £250K loan in shares @ 4p... that would mean a 6250000 shares. That would obviously be huge given that it would be an instant profit of around 2.8m

Can anyone shed any further light?

[maxbubble] 12/1/2011 12:07

Beowulfs 2009 accounts

Terms and debt repayment schedule
2-5 years
£
Other loans 150,000
The loan of £150,000 from Starvest plc bears interest at 4% per annum and is convertible into new ordinary shares at 4p per share at any time until 31 July 2012.
On 29 January 2010, Beowulf Mining plc received a further £100,000 loan from Starvest plc to bring the total loan to the agreed level of £250,000.
papa

At the balance sheet date, the Company had a loan of £150,000 (2008 - £250,000) from Starvest plc, an AIM listed company which is a major shareholder of Beowulf Mining plc and of which Mr A C R Scutt is also a director. The loan bears interest at 4% per annum and is convertible into new ordinary shares of Beowulf Mining plc at any time up to 31 July 2012. The interest charge for the year is £6,394 (2008 - £10,192), of which £2,500 (2008 - £4,197) is outstanding and is included in trade and other payables at the year end. The loan agreement entitles the Company to borrow a further £100,000 from Starvest plc after giving 45 days' notice.

[brando69] 12/1/2011 11:38

well, given BEM performance any additional over 4m shares is big news

[maxbubble] 12/1/2011 11:35

They may have held a couple of million before hand as well and they probably issued some to cover 4% interest charged by SVE (750k?)

[brando69] 12/1/2011 11:29

thanks - well done... that implies does it not that SVE may have more than 4m still...?

"issued a further 6250000 new ordinary shares"....

[maxbubble] 12/1/2011 11:29

Brando, i didnt mean notify BEM about disposal - I meant it a big value transaction for Starvest and it means a big profit and jump in NAV so I think they said they would notify the market when theres been a change.

[maxbubble] 12/1/2011 11:27

In addition, the Company has today completed the acquisition of Iron of Sweden
Limited ("Iron of Sweden" or "IOS"), issuing 691,921 new ordinary shares as
consideration, and has issued a further 6,250,000 new ordinary shares to
Starvest plc ("Starvest") in connection with the conversion of its outstanding
GBP250,000 convertible loan.



Beowulf (AIM: BEM; Aktietorget: BEO), the AIM and Aktietorget traded mineral
exploration company which owns several exploration projects in Sweden, received
notification yesterday from Starvest Plc ("Starvest") that, following the
disposal of 2,250,000 ordinary shares in the capital of the Company on 12
October 2010, Starvest no longer holds a notifiable interest in the issued share
capital of the Company.

[brando69] 12/1/2011 11:16

we need outsider to tell us how he came to the figure of 4m shares for BEM. the key question is: was this figure derived AFTER the sale of 2.5m shares in october?

[brando69] 12/1/2011 11:15

assuming that plus and other holdings are currently worth a total of around £3m - most of which is from Oracle... and assuming current cash at around £600K, I make the total portfolio value around £13.2m now. that's before tax obviously

[brando69] 12/1/2011 11:08

Max

that is incorrect

check the RNS from October.

They sold 2.5m shares in BEM to take them below the notifiable threshold.

[maxbubble] 12/1/2011 11:07

I think if they sold BEM they would have to notify the market as it is such a large transaction imv.

[mattboxy] 12/1/2011 11:01

Can anyone confirm the current holding in BEM??
Is the above figure known to be accurate? (4,000,000)
I have emailed the Question to john watkins but i`m not sure if he is allowed to release such info.
I requested the holdings in the nine companies that make up 85% of our value as states in the last rns.
I will let you know anything i find out.

I'm wish i'd bought BEM instead as that has doubled since i bought here and we are very slightly down !!

[brando69] 12/1/2011 10:44

the aim stocks alone are adding another 376K to the portfolio today. not far from the point where kefi, bem and rgm account for the entire market cap on their own

[maxbubble] 12/1/2011 10:38

Beowulf must have discovered a rare earth metal lol

[brando69] 11/1/2011 16:57

make that 476K - and that's just the aim listed stocks