Ft Tre Discussion Threads

[jezza123] 30/8/2012 14:57

nice to see someone still kicking - any idea when they might next issue any news, particularly given the recovery of carbon...

[norbert colon] 30/8/2012 12:04

I am still here - sit and wait mode - not much more to add

[jezza123] 30/8/2012 10:04

well I take it from the deafening silence there is no one left..

[jezza123] 24/8/2012 16:40

well carbon price has recovered well this last month - but not much to say here.... anyone still alive out there?

could u post that article edwardt?

[edwardt] 23/8/2012 14:19

article in citywire, stating weiss have bought in - some punters obviously following suit this pm

[praipus] 26/7/2012 14:43

Yes NWG got taken over just after Invesco pulled out!

[edwardt] 26/7/2012 13:41

market makers starting to push the price up - always seems the way after a large change in the share register.

[edwardt] 26/7/2012 13:04

he runs circa £20bn - so suspect that this was simply a rounding error in his funds and therefore sold out as probably was a source of embarassment to him! I hope that Weiss will be more involved in the liquidation process and more aggressive in putting pressure on management and the board.

[praipus] 26/7/2012 12:44

You were:-)

Invesco out


Dont know anything about Woodford other than what it says on Wikki.

[edwardt] 26/7/2012 12:23

looks like i was right praipus - woodford out , weiss taking charge.

[edwardt] 24/7/2012 16:32

mm this one is starting to hot up - i suspect that the biomasa deal is key here. from memory tre were invested in the culs that never received payment and hence claimed 99% of the company equity from the entrepeneur who has been not turning up to court since for the ajudication. here's hoping an agreement has been made....

[praipus] 24/7/2012 15:02

Very big trade at 14:10 30 mill shares!

Correction looks like a typo at ADVFN LondonstockExchange is showing it as 30,000.

[outsizeclothes.com] 24/7/2012 12:15

A small company, edwardt, fronted by Mark Chamberlin.
From DueDil -
"Praxient Capital Llp was founded on 29 Jun 2007 and has its registered office in London. The organisation's status is active, and they have 15 associated directors - 12 are current, and 3 former. It looks as though Praxient Capital Llp has not been the plaintiff or defendant of a lawsuit. The company has no known group companies. The business has assets of £1,129,000 plus liabilities of £268,000. They are due to pay £195,000 to creditors and are owed back £49,000 from trade debtors. As of their last financial statement, they had £177,000 in cash reserves. The company's current net worth is £988,000, and the value of their shareholders' interest is £988,000."

[edwardt] 24/7/2012 11:22

anyone heard of this praxient lot who have disclosed?

[edwardt] 24/7/2012 10:17

fair point but the terminal nav is almost certainly a way below the reported nav. i would hope for 40 p exit in 12 months at best. still a very nice return from here but still a high risk position given poor management, an unloved sector and probably a chunk of debt attached to the private equity holdings.

[praipus] 24/7/2012 10:01

From the tone of your email I thought you had a couple of shed loads. What else can you buy at the moment that if it liquidates for NAV could give you a near 200% increase in value?

[praipus] 23/7/2012 22:10

If you dont mind me asking what % of your portfolio does the TRE holding account for at cost?

[edwardt] 23/7/2012 21:42

i suspect woodford may have been the seller given the size of the change in share ownership. i hope weiss really squeeze the board to maximise value here fast... not enough action in the realisation programme for me to get overly hopeful of me reducing my losses here! want to draw a line under this one fast!

[praipus] 23/7/2012 17:26

edwardt...glad I didnt take your bet! :-)

Weiss now holding 26.35%! RNS released after the market close...

Anyone interested in tracking the rest of the Weiss holdings I put charts of each in post 3 of the WAM thread.



Also lot of very big trades today are they the Weiss trades filtering through or have they flipped them already or is someone else moving the furniture about.

[outsizeclothes.com] 23/7/2012 17:16

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i)
-------------------------------------------------------------------------------------------------
An acquisition or disposal of voting rights X
------------------ ------------------------------------------------------------------ ---------
3. Full name of person(s) Weiss Asset Management LP
------------------------------------------ -----------------------------------------------------
4. Full name of shareholder(s) Brookdale International Partners, L.P.,
(if different from 3.):(iv) Brookdale Global Opportunity Fund
------------------------------------------ -----------------------------------------------------
5. Date of the transaction and date July-19-2012
------------------------------------------ -----------------------------------------------------
6. Date on which issuer notified: July-23-2012
------------------------------------------ -----------------------------------------------------
7. Threshold(s) that is/are crossed >10,11,12,13,14,15,16,17,18,19,20,21,22,23,24, 25,26%
--------------------------------------------------------------------------------------------------------------------------
Class/type Situation previous Resulting situation after the triggering
of to the triggering transaction
shares transaction

if possible
using
the ISIN
CODE
------------- ------------------------------------- --------------------------------------------------------------------
Number Number Number Number of voting % of voting rights
of of of shares rights (x)
Shares Voting
Rights
------------- ---------------- ------------------- ------------- ------------------------ ---------------------------
Direct Direct (xi) Indirect Direct Indirect
(xii)
------------- ----- ------- ------ ----- ---- ------------- ------------- --------- ------------ -------------
GB00B073G363 16,806,806 16,806,806 57,815,419 57,815,419 n/a 23.14% n/a
------------- ---------------- ------------------- ------------- ------------- --------- ------------ -------------

B: Qualifying Financial Instruments
--------------------------------------------------------------------------------------------------------------------
Resulting situation after the triggering transaction
--------------------------------------------------------------------------------------------------------------------------
Type of Exercise Expiration Exercise/ Number of voting % of voting rights
financial price date (xvii) Conversion rights instrument (xix, xx)
instrument period refers to
(xviii)
--------------- -------------- ------------- ------------------- -------------------------- -------------------------
CFD n/a n/a n/a 8,000,000 Nominal Delta
--------------- -------------- ------------- ------------------- -------------------------- ------------- ----------
3.20% 1
------------- ----- ------- ------ ----- ---- ----------- ---- ------- --------- ------------- ----------

Total (A+B+C)
--------------------------------------------------------------------------------------------------------------------------
Number of voting rights Percentage of voting rights
----------------------------------------------------------------- -------------------------------------------------------
65,815,419 26.35%
----------------------------------------------------------------- -------------------------------------------------------



9. Chain of controlled undertakings through which the voting rights and/or
the
financial instruments are effectively held, if applicable: (xxi)
-------------------------------------------------------------------------------------

Brookdale International Partners, L.P.: 45,109,520 voting rights/financial
instruments (18.06%)
Brookdale Global Opportunity Fund: 20,705,899 voting rights/financial
instruments (8.29%)

[praipus] 20/7/2012 17:34

lol, I wouldnt take your bet!:-)

Moore Capital and or Laxey selling I recon and Weiss and possibly QVT buying..perhaps

[edwardt] 20/7/2012 17:22

wager you it was weiss buying ....

[praipus] 20/7/2012 17:12

Got to be some RNS after that!

[edwardt] 20/7/2012 16:37

now there's some volume!