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dire change :-) http://www.investegate.co.uk/Article.aspx?id=201202011154036027W
rumours/murmours -this moves awfully quick in both directions :-)
10/01/2012 http://www.growthcompany.co.uk/news/1683503/dongfang-sinks.thtml
of fresh orders,thats why it has risen today to the top riser on boards,was 1.30 not long ago from 30p,this rises rapidly,watch it go up more tomorrow
The Sharecrazy “most dodgy AIM float of 2011” award - 2 contenders by East London’s most feared short seller, Lucian Miers A month ago I wrote about aim fiasco Dongfang and promised an update. Since then the shares have collapsed on a massive profits warning, but with a market cap of £80 million are still grotesquely overvalued. I managed to track down Mr. Ismail the finance director who confirmed to me that me the only security for the $73 million owed to the company by chief executive Chen Tongkao, is his shareholding in the company which is held by brokers Northland Capital. He also intimated that the carrying value of the company’s property is understated on the balance sheet. I would argue that the opposite is much more likely to be the case and that the banks’ chances of getting their money back are zero.
hey mate, are you back in yet!?? roulette round two... ding ding...! ;-)
morning:-)
Second day & its on the up ??
RADG is up 350% now bud, they are catch up on this old tug :-) Glad to see you jumped @ the right time - profit is profit, saying that i can see this one marching on??
http://www.investegate.co.uk/Article.aspx?id=201111010703062274R
im out too.. we have had a cracking run... cant complain..
im out-profit is profit :-)
Top post & thank you, the only question is how long can these keep this going & what will happen long term l wonder?
I got these at the float , then bailed out at 45p........on how I wish i had not ........but yes no logical reason for this sort of increase , as reason stated below
http://sharecrazy.com/beta/category/UK-Analyst/ Part of the function of a Stock Exchange is to allow an orderly market in the buying and selling of shares. For a quoted company’s shares to be traded in an orderly manner, there surely must be a minimum float held by non-insiders. This is a principle that has been grasped by exchanges from Vancouver to Mongolia which have rules on the subject, but sadly not by our own LSE owned AIM. AIM leaves this important matter in the hands of the Nominated Adviser who is “responsible to the Exchange for assessing the appropriateness of an applicant for AIM.” This vagueness and lack of a simple ruling on the subject has been the reason behind countless AIM fiascos from Knutsford (remember that one?) White Nile, DEO, about which I wrote in January of last year. Its shares are down 90% after a 200 for 1 consolidation. Now we have Dongfang Shipbuilding (Group) Company Ltd (DFS) , a Singaporean enterprise which builds ships in China and was introduced onto AIM by NOMAD Northland Capital Partners on the 12th August with a market cap of £38 million. Less than 3 months later the market cap is £256 million as the shares have soared from 20p to 136p. Have the company’s fortunes improved that much in 3 months? Not a bit of it. Of the five announcements made since flotation, the interims, released in September, show losses increasing from $1.7 million to $3.6 million as shipbuilding revenue plunged 24%. In fact with short term borrowings of $173 million and unrestricted cash of $7 million the company’s finances look appalling and its future dependent on its bankers. The company’s founder CEO and 72% shareholder Mr Chen Tongkao owes the company some $74 million, an asset on the balance sheet which appears to be secured by his shareholding in the company (how crazy is that?) Two other directors, the chairman Mr Narayanaswamy and Mr Ismail, the finance director (who is based in the UK which seems odd given that DFS is a Singaporean Company based in China) both have holdings of 5.5 million shares, “worth” around £7.5 million each. They were issued in lieu of payment for services billed at $252,685. Ie they were issued shares this year at 2.2p, so are each sitting on a sixty bagger in ten months. The only other two announcements of any consequence since floatation show that on 27th September £1.8 million was raised from an unnamed single investor at 38p and that a week later on 4th October the company “knows of no specific reason” for the shareprice rise. Well here is a specific reason. Apart from the directors who hold 75% of the stock , the rest is held by connected parties from Singapore who were in before the introduction to AIM. There is no free float and the shares have lost all touch with reality for this reason.
corbs and mad dog deserve it & l bet when the RNS came out about the Share Price Movement it was panic time.. Well done guys and ive watched shares myself savo & kicked myself later ..
I have been looking at this since 30p ish, no one was here and I was put off watched it rise past the 38p placing thought it would stop it just kept going and going. Went on holiday come back it was nearly a £1, thought cannot get in on this spike, thought this again at £1.20. I am just dare not get in on this now as it may bomb!! Good Luck to corbs and mad dog.
Thanks for the replie, lm in SER big time and l think a few will be let down as to many keep saying the RNS will come by this Monday .. A few will jump if it goes past Monday and the mid - long term peeps will wake up one morning a few quied richer, just my thoughts .. Im looking here as l feel like lm missing something, you are in here??
Had a look about and with a volume of 86.356 it has climed 3.85% 15.45.08 First Day of Dealings on AIM - 190,000,000 ordinary shares @ 20p ("Ordinary Shares") 18 August 2011 Chen Tongkao, Chief Executive Officer, said: "The Board is delighted that Dongfang is today joining AIM; this is a significant step forward for the Group. The listing will enhance Dongfang's standing particularly with our European customers and give us access to equity capital in the future as opportunities arise in our markets. " Not many shares available in circulation if the Chairman has 70%..... 27 September 2011 - Dongfang (AIM:DFS), the international shipping company and shipbuilder, is pleased to announce that it has raised £1.8million by means of a placing of 4,767,711 new ordinary shares in the Company at 38p per share ("the Placing Shares") with a single investor, representing 2.45 per cent. of the Company's enlarged issued share capital. The placing price represents a premium of 76 per cent. over the closing middle market price on 26 September 2011 RNS - 28 September 2011 -The Group registered a loss of US$3.7 million after taxation for the six months ended 30 June 2011 (H1 2010: loss US$1.7 million) Shipbuilding revenue registered a 24.2% fall compared to the same period in 2010, as the shipbuilding sector as whole continues to operate in a tough and challenging environment RNS 04 October 2011 - Share Price Movement - The share pirice was 62p when that was released & it more than doubled in price since then?
had sefton on one of my many watchlists for months-cant be every where at once and do my research-your post just caught my eye on the ticker left side.:-)
What is going on here, l just cant get my head around this ?? Didnt know you use the SER bb :-)
was just offered 135 to sell-duh? its mad-didnt sell- keeps going up and up just added another 5k to rrl -feel some pressure cooker building over there-not sure whats being cooked though:-)) just musing:-)
poop poop off again! amazing!
on very few trades? :-)