Member Info for Karina1

Imagine having to issue an RNS because a PI told you it was needed... well done TC

How embarrassing.…………….Bunch of amateurs

SI Capital -

"I understand the process is still ongoing and an update will be announced as and when required."

I don't know about the rest of you but if I told my clients their deal should go through by the end of September 2018, then January 2019 and then just kept my head down after that when it didn't happen, I wouldn't stay in business very long......

I have emailed Winters twice and contacted SI, Steve. No reply at all, not even a cannot comment. Its utterly disgraceful.

CRV, LMFA, DLC etc etc missed deadline after missed deadline. One can only assume they are all inept.....

Count me as one of the lunatics mate !

Thank you Steve, much appreciated

This was the previous confirmation of process

There is then a confirmation hearing in December, where again post this hearing the company must again advertise in the Times newspaper the fact that the court has granted the authority for the share buyback and this is lodged with the Companies House.

It appears that we are almost there and importantly the Court has approved the process

At least its still scheduled for today...…. have to admit thats surprised me !

Tuesday 7 May 2019
Robed
At 10:30 AM

CR-2018-008173 Craven House Capital PLC

Its still set for today, unlike LMFA

Wednesday 24 April 2019
Unrobed
At 10:30 AM
Companies Applications
CR-2018-008173 Craven House Capital PLC

"All papers have been finalised and we are waiting on conformation of dates from the court "

That was 12 days ago...…….

I am guessing the December deadline that slipped to end of January is now end of February

Reliably unreliable as ever.

QETON LIMITED
B47 Notice(Letter) of Resignation of Auditor
06-Dec-2018

As has been previously outlined to shareholders; the Company’s share price continues to trade at a significant discount to the Company’s most recently published net asset value per share. The Investment Manager has therefore determined that it is in the best interests of Shareholders to seek Shareholder approval for the Company to buy back and cancel its Ordinary Shares. This will provide flexibility to achieve the most efficient allocation of capital as cash proceeds are generated from asset sales and loan repayments are realised.

As a result of historic operating losses, the Company currently demonstrates negative retained earnings. In order to generate the distributable reserves necessary to undertake a buy-back of shares, the Directors are proposing to transfer a total of $25,000,000 in capital from the Company’s Share Premium account to its Retained Earnings. This must be done by way of a reduction in capital, for which High Court approval is required. This is a common process which will commence immediately upon approval of the resolutions below and which is anticipated to be complete by the end of January 2019.

http://www.cravenhousecapital.com/images/docs/EGM19.pdf

Resolution 1, to be proposed as a special resolution, seeks Shareholder approval to cancel the Deferred Shares for no consideration by way of a Reduction of Capital.

• Resolution 2, to be proposed as a special resolution, seeks Shareholder approval to transfer $25,000,000 if capital from the Company’s Share Premium account to its Retained Earnings account by way of a Reduction in Capital.

• Resolution 3, to be proposed as a special resolution, seeks Shareholder approval to buy back and cancel up to $5,000,000 of the Company’s Ordinary Shares, at a minimum price of $0.01 per share and a maximum price of $10.00 per share, which such authority expiring five years following the passing of this resolution.

In true CRV style the buy back court hearing is delayed until the start of next year CJohn

I hope their Xmas party is not being held in a brewery...….

http://www.cravenhousecapital.com/images/docs/2019agm.pdf

Based on Marks track record of investments TC I will not be buying LMFA any time soon.... so watch it double...!

No notice in the Times that I can see of the Share Buy back as yet, wonder if thats not going to plan?

I think I may take CRVs "contrarian" view and use all my family holding votes against the delisting.....

http://nasdaqnewsreports.blogspot.com/2018/11/why-lmfa-can-be-next-yeco-mover.html?m=1

I saw that the other Firm Gyllenhammar were involved in with a share buy back had to issue a prospectus to justify the buy back. Wonder if that will be the same with CRV?

Does the Court need justification of why $10 is seen as a fair price for the buy back?

If the Times notice gets picked up on Scargs we could see some fun here !

Morning Scargs

The trade was shown an hour or so late yesterday but was not included in the days volume which usually means it was from the day before if not earlier and was held back. So a nailed on buy for me especially given the subsequent 9% rise

I have been wrong before though !

Looks like a £35k buy that ticked us up 9% this morning

Craven House Capital North America LLC
2033 Main St, Suite 600, Sarasota, Florida, 34237
Holding company, insurance broker.