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I would like to know what happen ?
Property investment group Trinity Capital (TRC) and its former investment manager, Trikona Advisers, announced that an agreement has been reached settling all disputes between the parties. Under the terms of the settlement, Trinity will make certain payments to Trikona in cash and other consideration, the terms of which are confidential. Commenting on this, the group said: "The settlement will have no material impact on Net Asset Value (NAV) as it has been covered by provisions previously made." Additionally, the group added that, in light of this, it intends to make "further distribution" to shareholders. Shares in Trinity advanced 4p to 54.63p.
Well worth the wait! Entitled 'Looking further afield'. Please visit the 'Member Blogs' section.
Trikona Trinity Capital, an India-focused real estate fund, has unceremoniously shunted out its Indian RELATED ARTICLES Rs 6,00,000 cr biz coming for family offices US nuclear firms need Indian skills to cut costs VW to set up powertrain plant in India in 3-4 years Global Hospitals to use stem cells to cure diabetes Maruti models to boast dual-fuel engines soon adviser Trikona Advisors (TAL) in the light of breaches pertaining to the terms of the 3-year old portfolio management agreement. Trikona Trinity, which has invested over $250 million since 2006, did not elaborate on the breaches committed by TAL, which claims that managed returns of approximately 86 million pounds with an internal rate of return of 97 per cent for the AIM-listed real estate fund. Trikona Trinity Capital said that the appointment of TAL will cease 60 business days from receipt of the notice of termination i.e. on 16 March 2010. "We are currently in the process of evaluating the claims which it may have against TAL in respect of its breaches of the Portfolio Management Agreement (PMA) and otherwise. We are also seeking, through its subsidiaries and investee companies, the immediate termination of all contracts in India with companies related to TAL and its shareholders," Trikona Trinity said. Reacting to the development, TAL, which has 16-member team sitting across Mumbai, New Delhi, London and Cayman Islands, feels there is no basis in fact to the allegations made against it.
Trikona Trinity Capital PLC announced the sale of its investment in Phoenix Mills Limited. On November 9, 2009, the Company sold its entire holding of 1,850,000 shares in Phoenix Mills into the market at INR170 per share, for settlement on November 12, 2009, giving a total net consideration of $ 6,637,000, equivalent to approximately GBP 3.9 million.
Up 5% plus this morning already on low volume...cant find any news though...
Increase of holdings by Alpine Woods http://www.investegate.co.uk/Article.aspx?id=200910131659157147A http://www.investegate.co.uk/Article.aspx?id=200910131657017142A
Update on Pipavav Shipyard Limited - On 9 October 2009, the shares of PSL (BSE Ticker: PIPAVAVYD) listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) in India. The closing price for the shares was INR 57 (NSE) and INR 56.80 (BSE) with approximately 131 million shares traded. The Company holds 45.9 million shares representing a 6.9% interest in PSL. The shareholding is subject to a one year lock-up under Indian securities regulations. TRC acquired the shares at a price of INR 25 per share in January 2007. TRC invested GBP14.34 million in PSL in January 2007. The INR closing price per share on the first day of trading implies a market value of approximately GBP35.5 million at current exchange rates.
http://www.investegate.co.uk/Article.aspx?id=200910121133466089A
http://www.investegate.co.uk/Article.aspx?id=200910081637044962A
Part 2 The upshot is an 11p fall in the reported end-March NAV. Since the putsch, Trikona has renegotiated various investment agreements and reduced contractual commitments by £12.9m. It has also repurchased £12m of shares and expects to return £100m from realisations within 18 months. TRIKONA TRINITY CAPITAL (TRC) ORD PRICE: 55.25p MARKET VALUE: £116.3m TOUCH: 55-55.25p 12-MONTH HIGH: 62.5p LOW: 22.75p DIVIDEND YIELD: nil TRADING STOCK: na INVESTMENT PROPERTIES: £235m NET CASH: £60m Year to 31 Mar Net asset value (p) Pre-tax profit (£m) Earnings per share (p) Dividend per share (p) 2007 124 34.0 13.6 nil 2008 136 63.7 26.9 nil 2009 113 -61.4 -23.6 nil % change -17 - - - Aim: Real estate. Guide to the terms used in IC results tables. More analysis of company results IC VIEW Buy It’s hard to believe that early encashment is in the best interests of Trikona’s shareholders. At half NAV the shares are a speculative buy, but are now tightly held. Last IC view: Good value, 55p, 21 May 2009.
Good afternoon sir my apologies for previous post. Investors Chronicle has these as a buy on their tips pages from today the article is below. Headache for hedge funds at Trikona Created: 6 October 2009 Written by: Nigel Bolitho Trikona Trinity raised £250m at 100p a share when it floated on the Alternative Investment Market (Aim) in April 2006. It appears that New York hedge fund QVT Financial was an early investor and European-based Carrousel Capital became a shareholder early in 2008 when the shares were near their peak. They own 27 and 16 per cent of the shares respectively. This March they engineered a putsch, changed the board and altered the investment aims. Originally Trikona was set up to take minority interests in Indian property developments. Most of the projects were expected to be realised within three to five years. The fund has no gearing. From now on, however, the company “shall promptly… dispose of all its assets in an orderly fashion” but at the same time “shall continue to seek new investment opportunities”. The caveat to the latter instruction is if the shares trade at a price above net asset value (NAV). Advertising Click! But as IC readers will know, there’s more than one way to calculate NAV. Deep in the bowels of Trikona’s preliminary results tome is the news that the new board has changed the basis for calculating the project risk or cost of equity on its development projects
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no problem. yes I bought back in earlier today after reading through the details last night and making a few back of the envelope calcs. Think this will be good over the next 6 months or so as they carry on the wind down. Have you got back in yet?
http://www.investegate.co.uk/Article.aspx?id=200909301448089781Z
http://www.investegate.co.uk/Article.aspx?id=200909290700118085Z
Just a reminder that the annual results are out within the next week or so or anyway at the latest by the end of September. We maybe will also get some more idea of what will be happening in relation to the current company strategy and where we are going in the next months
Trades since 08:27 have all been sell trades? trades so far buy 55,205 shares sell 81,183 shares unconfirmed 0 shares
27 May 2009 This is the bit missing off the bottom.
RNS Number : 7947S Trikona Trinity Capital PLC 27 May 2009 ? Trikona Trinity Capital PLC (the 'Company') Share Buyback Program The Board of the Company today announces the terms of its share buyback program. The Company will seek to purchase and cancel up to 19,384,648 ordinary shares of 1p each ("Ordinary Shares") as part of its share buyback program. No more than 10 million Ordinary Shares however will be purchased on any given day. The price to be paid for any Ordinary Shares acquired will not be more than 5 per cent. above the average market value for the five business days prior to the day the purchase is made, up to a maximum of 60 pence per Ordinary Share. The actual number of Ordinary Shares purchased, the timing of purchases and the price at which the Ordinary Shares are bought as part of the share buyback program will depend upon market conditions. Since the announcement on 24 March 2009 of the Company's intention to effect returns of capital to shareholders, the Company has purchased for cancellation 3,250,000 Ordinary Shares, following which the current issued share capital of the Company is 228,550,200. The share buyback program will remain in place until the release of the Company's preliminary results for the year ended 31 March 2009, at which time the board will update shareholders on the Company's return of capital strategy. The preliminary results are expected to be released on 27 July 2009. 27 May
Good morning I hope all is well, Have you seen todays RNS where it says will purchase upto 60p?
Level2 shows order book buy side 3, 1, 1, 2, 1, 2, 1 prices 51.5p, 51.25p, 51p, 50p, 49.5p, 49p, 48p sell side 1, 3, 1, 2, 1, 2, 1 prices 53p, 54p, 54.25p, 54.5p, 55p, 56.5p, 57p I read this as a stall for now.
buy side 4, 1, 4, 1, 1 prices 51p, 50.25p, 50p, 49.5p, 48p sell side 1, 3, 1, 3, 1, 1, 1 prices 53p, 54p, 54.5p, 55p, 55.25p, 56p, 57p live prices sell 51p buy 53p cur 52p up 3%
sell 51p buy 52.5p cur 51.75p up 2.5%
Resistance is showing at 53p on level2 as there are 5 mm's at there showing 150,000 shares at the moment.