Starvest Share Discussion Threads

[backmarker] 26/3/2011 12:27

are we due a valuation RNS soon ?

[brando69] 23/3/2011 22:06

thank you thedaidai - very clear... so that confirms that i was right in that they DID have 4m at a point when that represented less than declarable threshold... though of course they could have sold part or all in the subsequent months....

[thedaidai] 23/3/2011 21:29

In the 2010 results, SVE stated that they had sold their shares in BEM but retained the retained the convertible loan note which was subsequently converted to equity. This gave a holding of £250k /0.04 = 6.25 million shares.The loan note therefore no longer exists.



On 13th October 2010, SVE stated that they had sold 2.25 million shares leaving a holding of 4 million shares which equates to 2.5% of BEM using the total 160 million shares from BEM's website.


SVE could have sold anything between zero and 4 million shares between then and now because they held less than the notifiable limit of 3%

[brando69] 23/3/2011 17:39

yeah, but that was the shares according to advfn - which was i think wrong. assume that bem's own website has the correct number

[zedder] 23/3/2011 17:37

maxbubble - 12 Jan'11 - 12:07 - 559 of 760


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 Jan'11 - 12:19 - 560 of 760


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?

[brando69] 23/3/2011 17:30

question for watkins i think... if phrased properly he should have no problem answering

[zedder] 23/3/2011 17:19

But the no notifiable holding announcement (ie less than 3%) was when there were fewer shares in issue.

[brando69] 23/3/2011 17:12

backmarker

4m is still under 3% of BEM... check BEM's own website for number of shares in issue.

end of...

[zedder] 23/3/2011 11:29

I assume 2m BEM in my spreadsheet, but that's also just a WAG.

[backmarker] 23/3/2011 11:11

brando69

the last RNS on holdings in BEM 13.10.2010 indicated that SVE no longer had a notifiable holding, which I assume means sub-3%.

there seemed to be confusion over when the conversion of the convertible loan note took place - I read the Annual Report to mean it had taken place within the year to 30 Sept 2010.

thus SVE holds 3m at most, but I suspect a lot less.

given the rise in BEM I accept this could still be a more significant holding than I had thought.

[underperformer] 23/3/2011 09:47

oracle picking up

[brando69] 22/3/2011 18:03

until someone can categorically show differently, i'm working on the assumption that sve still have 4m bem shares.

[brando69] 22/3/2011 13:30

eh? how do you work that out Backmarker?

[underperformer] 22/3/2011 13:27

yes this has 2H11 written all over it, still there s a lot that ought to happen with orcp, rrr, rgm, aau etc

[backmarker] 22/3/2011 11:30

unfortunately BEM is not a very big part of the portfolio :-(

[brando69] 22/3/2011 08:53

BEM on the move again on positive news

[zedder] 17/3/2011 14:53

The 12500 buy at 14p was me. Most of our holdings have slipped back a bit, but I am confident most of that is only temporary. I also hope we sold some bits of our bigger holdings during the higher prices.

[crimeprotection1] 16/3/2011 20:21

Does anyone know whether it was ever confirmed that SVE still hold 4m warrants in BEM?

[maxbubble] 15/3/2011 14:24

i'm sure the governments will help the city out with the squeeze in the short term by stirring up a bit more gloom. Recontrstruction demand in Japan is only going to fuel metal prices and demand even higher

[divinausa1] 15/3/2011 13:41

nope i think SVE are a great play 3 months time Japan will be spending big time on reconstruction.

i said hoping for 10p but i doubt if it will get there, but who knows

[maxbubble] 15/3/2011 13:25

divina playing mind games again? tut tut

[divinausa1] 15/3/2011 13:03

hoping for under 10p

[divinausa1] 15/3/2011 13:02

Great buying op, its like 9/11
all over, stocks always recover from disasters
and i would rather be in these than individual stocks that sve hold
I will be buying in big time here, all about timing now and a little
luck to get the bottom

[divinausa1] 14/3/2011 01:08

been holding up well in the current malaize