He brought £3 million quid in placing last April 2024, They are now worth £400k at best Eldose coughed up £1.5 million in placing plus his £2 million investment prior to fund raise £340k value now Mark Ward £700k coughed up for placing plus £1.5 million investment now worth £220k So many more have lost their shirt with this company . Wow how to lose big investing into Hospitality |
Poor old Luke Johnson, my heart bleeds. Busted flush. |
Approaching event horizon: Seems the 'chocy dragées' are being drawn into Rachel's black hole at ever increasing velocity...
Beware gravitational time dilation, the packet may be empty before you know it! |
Notable the continuing level of remuneration provided to Mr. Spin & Co. over the years of failure and, perhaps, that he's managed to avoid the effects of centrifugal force. |
NET ASSETS are MINUS 82million -
Need to re-read that -
Lukey will be getting ready to pick up the pieces - |
Its junk -
Surprised Luke Johnson put in quite a bit -
he'll pick up the remnants for admin i suspect -
They may have cash but future looks bleak with its humongous debt pile - |
Cash of 0.84p per share arrived today. |
Provided they come up with the cash, i get 0.95p as the final value, a little disappointing. |
NOt exciting news today. I reckon lucky if holders see a final 1p/share. Range of .4-1.2 in my spreadsheet. Lots of variables... |
That reference was from the original project details for mk malls.
This link from an indian business newspaper in 2011 gives a similar project value.
hxxp://www.business-standard.com/article/companies/db-realty-in-jv-talks-with-other-firms-111092700096_1.html |
My take is that there may be interested parties but that they want clarification on the legals. We can only guess.
That's a c. £115m project if your numbers are right flyfisher.
To me it looks like a bet with c. 90% downside and 200% upside, with no way of calculating the odds. Good fun! |
RJM, ''The project envisages the development of 848,000 sq.ft and the cost of construction including land will be in the range of INR 12,000 - 12,500 per sq.ft. on 18328 sq m of land diagonally opposite the stock exchange.'' |
My take would be that if it was going well there would be no need to extend.
I am interested in this but wary - it is extremely complicated. Any idea what the total value of the tower project is ? How solid are legals behind this ? |
Auction extended until 20th October, not sure if we can take anything from that? |
A little more information emerges in the latest accounts of DB realtors private ltd.
The project in which TC10 is involved is DB tower in mumbai, images are on the net.
The legal action taken by TC10 in april, was for ''oppressing rights and depriving of information'' and the complaint was upheld.
TC10 are now taking legal action for contempt.
Late payment is endemic in india, db realty have delayed completion of the purchase agreement for a couple of years and saved circa £1m in interest fees, the auction process now gives them a deadline. |
The sale particulars on the company website give a mine of information, but it is hard to see what the ultimate value will be. |
It does seem though that TRC were willing sellers at a level above 21% but probably well below 70% from the narrative of the interims.
'Over a year ago, a sale of the CCPS to a potential buyer was negotiated at a discount to face value that reflected various risks, including potential issues in enforcing TC-10's rights in India. Although sales documentation has been agreed between TC-10 and the buyer, financing has yet to materialise. Consequently, TCML is seeking alternative buyers of the CCPS while evaluating its legal rights. The carrying value of the investment in MK Malls is based upon the negotiated sale price, adjusted to reflect the possible delays and risks in completing the transaction.' |
No, it has been in place for a couple of years.
Also of note is that dynamix hold their ROCCPS at 70% of cost, whereas TRC hold their CCPS at 21% of cost. And dynamix declare their stake to be fully recoverable. |
Interesting - is the loan a new development? TRC previously reported a buyer for TC10 but with no funding. Potential squaring of the circle? |
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