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*herd
When the heard arrives I'm expecting fireworks, also this is the least traded share I have ever seen! Cash being valued at such a steep discount is honestly beyond me, and we have a few small investments as well which have some value. If this company had better PR I can guarantee we would be at many multiples of the current share price in no time, I believe that there are only around 10% of shares in free float which is a tiny amount!
I honestly can't answer that but I'm investigating and will be putting pressure on them in the near future
Curious why they have sat on the cash and not invested it for so long?
Must be the most undervalued share on AIM....... almost £4M cash valued at £1.7M! You couldn't make it up.
Looks like I'm not going to get them lol :) Oh well, share price should be around1.8p if we were looking purely at the cash value! If the company utilised the cash and got their act together this could be an interesting play
*70p
I have put a limit order for £20,000 at 0.7 I hope its filled, I'm basically buying money at a discount :)
With Cash just under £4million and a MCAP of £1.57m its a no brainer!
they ought to liquidate it, a la nbnk. I worry this is just providing a tidy income for the fund manager for doing very little. Need an activist, guess there's no hedge funds operating at this size of co, cus it's ripe for the taking. The sort of stock a young warren buffet would have eaten up.
MCap sat at half cash. Will they do anything with it?
Wish I had invested here, what I don't understand is why the share chat has been quiet for a long time.
Let's hear from those who sold at the top lol!
looking a lot better filed 12/2012 cash in the 141k http://uk.advfn.com/news/UKREG/2012/article/55562524 Chairman's Statement I am pleased to report the results of Hermes Pacific Investments Plc ("HPAC" or the "Company"), formerly Indian Restaurants Group Plc ("IRG"), following a change of name on 20 August 2012, for the six month period ended 30 September 2012. Review of the Company's Operations Following the sale of the trading business in September 2011 the Company has attempted to maintain a low cost base whilst its directors endeavoured to raise further funds and began considering suitable investment opportunities and alternative sources of income for the Company. Under the AIM Rules, the Company was required to make an acquisition or acquisitions which constitute a reverse takeover or otherwise to implement its investing policy to the satisfaction of the London Stock Exchange before 1 September 2012, being the anniversary of the Sale. On 27 July 2012, the Company was pleased to announce that it had raised new equity finance via a subscription, appointed three new members to the board of the Company and adopted a new investing policy focussing on investments in South East Asia. On 23 August 2012, the Company made its first investments under its new investment policy and made further investments on 31 August 2012, all in the financial services sector ("the Investments"). Following the Investments, the Company received confirmation that its investing policy had been implemented. Financial Review We have kept a tight reign over costs and the loss for the period stood at GBP68,000 compared to a loss of GBP231,000 in the previous corresponding six-month period. As at 30 September we had a cash balance of GBP141,000. Subscription On 27 July 2012, the Company announced that it completed a share subscription raising GBP320,000 (approximately GBP300,000 net of expenses) through the issue of 32,000,000 new ordinary shares of 0.5p each ("Ordinary Shares"), at a subscription price of 1p per new Ordinary Share ("Subscription Shares"). The net proceeds of the Subscription enabled the Company to implement its new Investing Policy approved by the Shareholders at the General Meeting held on 20 August 2012 (the "2012 General Meeting"), satisfy existing creditors and provide the Company with general working capital.
TIDMHPAC RNS Number : 4082K Hermes Pacific Investments PLC 21 August 2012 Hermes Pacific Investments plc (the "Company") Name Change Effective Pursuant to the announcement made on 20 August 2012, the Company is pleased to announce that the change of name process has now been completed and that the Company will begin trading under its new name of Hermes Pacific Investments plc (formerly Indian Restaurants Group plc) and new ticker HPAC.L (formerly IRGP.L) with effect from 07:30 a.m. today, 21 August 2012. The Company's ISIN remains unchanged (ISIN:GB00B0YTNL47). Further information please contact: Indian Restaurants Group Plc Haresh Kanabar, Non-Executive Tel: +44 (0) 20 7583 8304 Chairman Matt Wood, Non-Executive Director WH Ireland Nominated Adviser & Broker Marc Davies/ Mike Coe Tel: +44 (0) 117 945 3420 Note to Editors: The Company's investment policy was approved by shareholders at a general meeting of the Company held on 20 August 2012. The proposed investments to be made by the Company may be either quoted or unquoted; made by direct acquisition of an equity interest; may be in companies, partnerships, joint ventures; or direct interests in projects in South East Asia including, but not limited to, investments in the financial sector. The Company's equity interest in a proposed investment may range from a minority position to 100 per cent. ownership. The Company will identify and assess potential investment targets and where it believes further investigation is required and subject to assessment of potential risk, intends to appoint appropriately qualified advisers to assist. The Company proposes to carry out a project review process in which all material aspects of any potential investment will be subject to due diligence, as considered appropriate by the Board. It is likely that the Company's financial resources will be invested in a small number of projects or potentially in just one investment which may be deemed to be a reverse takeover under the AIM Rules. Where this is the case, it is intended to mitigate risk by undertaking an appropriate due diligence process. Any transaction constituting a reverse takeover under the AIM Rules will require Shareholder approval. The possibility of building a broader portfolio of investment assets has not, however, been excluded. The Company intends to deliver shareholder returns principally through capital growth rather than capital distribution via dividends. Given the nature of the Company's Investment Policy, the Company does not intend to make regular periodic disclosures or calculations of net asset value. This information is provided by RNS The company news service from the London Stock Exchange END
are they an oil share or what business are they in
Crazy price rise here, but then again it is only a penny share!
just did a brief search too, no rns knocking about or anything. I started watching it when it was at around 74% rise, now its clocking 120%.....if i had a crystal ball.
Had a scan around and nothing of note! Investment Company '.'
'OFF'
First on board! Yahoo. lol Just looked in to see what kicked of 120% rise.