Member Info for jarnold231

Mean's they have had to rebuy the stock to clear the short position (they already borrowed shares, sold them, and since they now have to give the shares back to the owner, they need to buy them back on the market). So it essentially means that there was some form of buying pressure, but more indicatively it means that at least one hedge fund now doesn't believe the stock is going to go down much anymore.

@ybhere

Interesting find - I particularly enjoyed how Radiant Nuclear used an image of an An-124 'Ruslan' transport aircraft in their intro slides. Wonder if it was meant to be a Ukrainian one or a Russian one. Tickled the AvGeek in me.

^ filters at the top, add the username.

Buy the rumour, sell the news.

Well theres the answer. -1.5%

The sun goes up and the sun goes down. Saw an opportunity to derisk at no net loss and took it, money is still sitting there if the stock falls - if it doesn't well I've still got a sizeable chunk at an 80p average. So thats a win win in my book.

Sold out a position that I'd taken in the 60's, and closed out my high positions in the high 80s/low 90s

Net result average down to just over 80 and for the first time in months I'm showing a 0.08% profit.

Zing.

Got myself an Irish passport and checked out in March this year. FWIW - I had no idea it was going to get this bad in the UK, but its nice to have one (personal investment) choice turning out positively for once.

@baronbog - thanks for this very useful bit of analysis and input. Consider me educated, I was also of the opinion that a strengthening USD was a good thing for RR. Clearly not the case. I have to say I find an average hedge of £/$1.53 astonishing since the £ hasn't been above $1.40 in the past 5 years. Is this just bad management or is the hedge deliberately meant to protect RR in the event that the £ strengthens to such a degree that it would damage profits?

Received a couple of Google notifications regarding this share price and thought I'd have a read seems like there's been some good news in recent weeks. I sold out a couple of years ago as some might remember. Do hope this turns out good for you LTHs you have the patience of saints. :)

Good afternoon all,

I did attend yesterdays meeting - it was just myself and Mr. Pajak. Official business concluded quickly and then Mr Pajak was then kind enough to spend another 20 odd minutes responding to my questions.

My questions were:

1. Why does the company feel the need to purchase its own shares? Basically because it believes they are undervalued and that it represents a good use of the company's capital.
2. Will the shares be purchased on the open market as opposed from a large holder? Yes, shares will be purchased on the open market (there are AIM rules relating to this), but these could come from a larger investor were they to begin to sell their holding on the open market.
3. What income will be used to fund the share purchase? Loans maturing / payments from loans / potentially the liquidation of some assets.

More generally I asked why the company was now wanting to drive the share price. Mr Pajak denied that this was the case (aligned to their long stated position) and said that it was the most appropriate use of the company's capital. I also got the impression this was the company giving themselves the option in case there were no more attractive investments to be made, so it may not occur immediately or at all. I asked whether the company might look to do any more promotion, answer no - same reasons as have always been given.

Asked whether there was any intention of taking the company private. No - not discussed by the Board and in fact would largely undermine the investment strategy of utilising share capital to drive investments.

Talked about the continual lack of transparency (at least in my opinion) he said this was driven the nature of the deals that CRV does and the need for discretion when buying distressed assets.

Overall I got the impression that this investment's time horizon will be far longer than that I am prepared to keep that money tied up. As such I felt that it would no longer be in my interests to continue holding, so I sold out at a loss immediately following yesterdays meeting.

Good luck to those remaining in.

I'll provide an update for those unable to attend on this board

Is anyone else planning to attend the meeting on Friday? Thought I might put in an appearance given my presence and ample free time in London on that day.

They can have mine for $10 a share. Roughly break even price and I can be rid of them.

The RNS says: "The adjusted pre-tax income of the business being acquired for the full year 2017 was $500,105."

Given that it was established in June 2018 thats clearly an exceptional effort. Obviously the underlying company generated that income rather than IIU Inc, just more of the usual obscuration and wind from our beloved management.

Nice research both - very interesting. Kind of agree with SPOT on this one though. Very much sounds like our "day-to-day" manager Desmond Holdings is acting primarily in their own interests by buying themselves a company they already own.

Hi CJohnSpain - if the company is an insurance broker it is engaging in a regulated activity and therefore should be registered with the SEC. As I've said in earlier messages the company we've bought appears to be a newly formed shell company which apparently owns insurance broking subsidiaries (which presumably are SEC listed) but are not disclosed. Once again deliberate smoke and mirrors from the Mgmt and BoD. If they spent as much time promoting the company as they do trying every which way to conceal whats going on I'd probably be on a beach by now.

Don't know about the rest of you, but contacted the regulator prior to this on the basis that the company were not forthcoming. This smacks of a knuckle wrapping. They still haven't addressed the issue that they've gone and bought an insurance broker that isn't regulated by the SEC and was apparently founded a month ago and has no published accounts to back up their claim that its make $500k. Completely despicable behaviour. Suspect the best we can hope for is another Pajak special essay full of flowery cow defecation and some numbers hidden in their equally opaque accounts. Might go buy some of the auditors I know down at GT a drink and see if they're any the wiser. Doubt it.

Classic. You should be pulling a salary from they Karina.

There is also precedent for CRV announcing when they have resolved litigation. Recall a few months (year?) back when they had to resolve a dispute with a creditor.