XXI Century Share Discussion Threads

[gdasinv2] 19/6/2009 10:58

Seen couple of BUY, last RNS very +ve though, Any 1 any thought

[gdasinv2] 15/6/2009 15:34

any 1 idea why this should go up? people still buying

[jpendle] 12/6/2009 14:29

No- I'm not buying any more will just wait and let it play out - there is very little interest from Private Investors to push the price up so there may be little change in the short term.

[gdasinv2] 12/6/2009 14:23

Jpendle, so it that you bought the last huge trade, I think there is some form of negotiation, I am still holding

[jpendle] 12/6/2009 13:34

Previous RNS dated: 29th April 2009 included:

'The Company currently intends to continue its discussions with Noteholders in order to finalise the Restructuring Proposals and, thereafter, to formally present such proposals to Noteholders by means of an exchange offer and/or further consent solicitation. It is currently envisioned that the commencement of the exchange offer and/or further consent solicitation would be timed to enable the restructuring of the Notes to take effect before the revised put option date and interest payment date.'

What do we make of that?
I know what I make of it, if the directors have done what they said in the RNS: then the consent solicitation has already been discussed and is acceptable (at least in principle) to the bondholders IMO.

If so I believe the company is seriously undervalued - no advice intended, DYOR

[wuc1wug] 11/6/2009 17:04

gdasinv2 please stop begging for information.

Do your own research, form your own opinion.

If you're in a company like XXIC with out knowing the risks you're quite brave or quite stupid.

That said I know the risks and I'm still here, so I could be either guess it depends on how it goes really :-)

Jpendle: I agree, their acceptance should see some momentum, but the rest will need the market to improve.

[gdasinv2] 11/6/2009 16:46

jpendle, so what does it mean actually as per last rns? Will this compnay get defualt? Any perspective for share price grow?

[jpendle] 11/6/2009 16:40

RNS looks ok at first sight, obviously the bondholders make a killing, but there looks to be plenty left for shareholders bearing in mind how big the pie is.

[gdasinv2] 09/6/2009 09:07

people still buying this debt company srtugling pay the interest? I am holding assuming there may be a possible take over? But can any one pls give any thought? Any perspect?

[jpendle] 04/6/2009 08:10

Ok - Maybe it was a bit of an over reaction, but with every share I own there is always someone suggerting I sell up and buy something else - best of luck

[tim00] 04/6/2009 08:04

sorry jpendle, I won't post here again. I don't own shares in QED BTW, I just mentioned them as an alternative for you. I certainly don't post on any QED thread.

[jpendle] 04/6/2009 08:02

tim00
Why are you on this board - you will not sway me or anyone else to buy QED by fostering a discussion about it - I am aware of QED, they have already had their price surge as a result of the easing of bank covenants so I'm not buying to support your investment.

If you continue to push other companies here, I shall go to the QED boards and start rubbishing that company which is what you are doing here.

[tim00] 04/6/2009 07:55

No jpendle, they're 100% different. QED's UK banks are supportive and have renegotiated facilities to give extra head room. XXIC have no supporters and the plug is about to be pulled. Still your decision. I'll leave you to it.

[tim00] 04/6/2009 07:52

The company has just realised about $1 mn from sales of non core assets. They have to find imminent capital repayments of $150 mn and interest payments of $8.75 mn. These amounts simply can't be raised, probably not for a year let alone one month.

[jpendle] 04/6/2009 07:50

It is in the same predicament as QED, my investment is just a punt, if it negotiates a debt for equity deal there is considerable upside, if it goes belly up the NAV/share is better than QED and the debts are a relatively small proportion, so even in a fire sale there is a chance of getting something.

[andrbea] 04/6/2009 07:49

"The Company continues to negotiate the sale of selected non-core assets to maintain its operational liquidity."


so 'core assets' are not under threat?

[tim00] 04/6/2009 07:39

Jpendle, why are you invested here? Imo the company has no prospect of meeting its imminent interest rate liabilities and is very likely to fail with its financiers taking possession. There are some great investment opportunities in UK commercial property companies, look at QED for example which is trading at around 15% of its March 2009 net asset value, and property prices are near their bottom. Ukrainian markets are too risky in the credit crunch.

[jpendle] 04/6/2009 07:31

Quite small sales but helpful - they say they have paid some of the interest on the bonds, or at least I think thats what it says, and are still trying to sell more.
_______________________________________________
RNS Number : 3350T
XXI Century Investments Public Ltd
04 June 2009

XXI Century Investments Public Limited

('XXI Century' or the 'Company')

Disposal of projects

XXI Century Investments Public Limited (LSE: XXIC) announces the sale of its stakes in four projects. The Company intends to use the proceeds to continue to finance land lease payments on real estate assets and to maintain its operational liquidity.

Sevastopol serviced apartments

XXI Century announces the sale of its 51% share in Sevastopol serviced apartments project in Crimea to a local developer that holds the remaining 49% in the project for a total consideration of USD0.5 million and UAH4 million (approximately USD0.52 million at the current UAH/USD exchange rate).

The Company had started construction of this project in early 2008 however stopped the works in 4Q 2008 in view of the Company's difficult liquidity situation and uncertainty in Ukraine's real estate market.

Lisnyky suburban residential development and Boryspil mixed-use

XXI Century also announces the disposal of the remaining 17.4 hectares in its suburban residential project Lisnyky in Kyiv region for a total consideration of approximately USD5.1 million and the disposal of its 80% stake in Boryspil mixed-use project for a total consideration of USD0.7 million. Both projects are in the pre-development stage and have been sold to a local developer.

As was announced in the Company's trading update of 30 March 2009, XXI Century had sold the first portion (38.2 hectares) in the Lisnyky project for USD5.9m to a different buyer. The proceeds from this transaction were used to pay the interest payment on the Company's USD175 million 10% Guaranteed Secured Notes due 2010 (the "2010 Notes") in November 2008.

Kvadrat Donetsk-Mira

The Company has also sold 100% of the shopping centre project Kvdarat Donetsk-Mira in Donetsk to a separate local developer for approximately USD2.3 million. The project is in the pre-development stage.

The proceeds from the aforementioned transactions have been received. The Company continues to negotiate the sale of selected non-core assets to maintain its operational liquidity.

In view of ongoing adverse market conditions, the Company is at a substantial risk that it may not be able to meet certain significant debt-related commitments, unless it succeeds in restructuring such payments as they become due. Of most pressing concern is the fact that as at the date of this announcement holders of of USD150.31 m in principal amount of the 2010 Notes have chosen to exercise their option to require the Company to redeem their notes on 8 July 2009. Other substantial payments include an USD8.75 million interest payment on the 2010 Notes, which is also due on 8 July 2009.

- Ends -

[gdasinv2] 02/6/2009 16:13

so what does it mean? Any perspective guys?

[andrbea] 02/6/2009 15:21

general interest

May 28

[andrbea] 26/5/2009 12:12

XXI Century Receives Bond Payment Respite

26-05-09, 10:40, (Property Xpress) - Holders of euro bonds issued by Ukrainian XXI Century have allowed a payment restructuring by July 8, 2009, As ...

[wuc1wug] 25/5/2009 19:11

To true, you need to have wide portfolio with a great deal of diversity to achieve those kind of results. :-)

[ssrmb] 25/5/2009 18:59

Robot that trades currency with 100% success; sounds like a wife that will give you a bj everynight - wonderful idea but frankly they just dont exist !!