Member Info for Karina1

Good to see signs of life here again, thanks TC ! There is also the South African loan book being worked on - "The Company also announces that it has received a partial repayment against the loan portfolio acquired by the Company in September 2016. A repayment of 21,663,537 South African Rand has been received. The Company continues work with borrowers to extract additional value from this portfolio of loans." We should also see what "an attractive rate of interest" actually is on the $6m credit facility to 7Mobile when the results come out. The big questions for me is will CRV finally re value all their assets or just the Brazil land and how much cash are they sitting on/generating. The Court dates currently are the 5th, 9th and 23rd of October so looks like Mr Winters will be busy next month A website update is also due to reflect the changes agreed at the last General Meeting.

Thanks TC I had missed that. We have the first FMCD loan maturing on the 30th September so we SHOULD be updated on whether its to be renewed, repaid or swapped for equity in FMCD.

Did anyone manage to attend? Result of General Meeting The Company announces that all resolutions at today's General Meeting were passed

Its when the share goes into auction for 10 minutes Scargs, think its 9,11 and 2pm. I have no explanation as to why it drops offer during these periods though. The real limits though are unchanged despite what shoes on the screen

This very much reminds me of when Kalimtgis built his stake in CRV.

At some point we should see the entry of some of the large retail investors that Mark has mentioned and have been "coincidentally" at the AGM venues..... In yesterdays news there was a $9m value on the Brazil Land, with a minimum $2.5m to come from the processing plant. There was also $1.6m paid back to CRV from the SA loan book, with more to come. In recent deals there has been a $6m loan to 7Mobile, $3.465m to FMCD (which is up for renewal or conversion next month) So that is a minimum of $22.565m in just those transactions and yet we have a MC today of $12.25m. No wonder Mr Burrows was persuaded to come on board.

Desmonds first agreed to purchase AP Vos & Seuns on the 3rd September 2014. You would imagine all parties are looking to close this some time soon....... More affidavits have gone in on the Panda case, but its looking like October/November before we hear more on this one. "The Company also announces that it has received a partial repayment against the loan portfolio acquired by the Company in September 2016. A repayment of 21,663,537 South African Rand has been received. The Company continues work with borrowers to extract additional value from this portfolio of loans. " CRV paid 20m rand for this less than a year ago, so the first repayment has produced a £100,000 profit in less than 12 months. Looks like this could offer returns equivalent to the Dublin hotel deal if not greater as this only reflects a partial repayment...... MP stated at the time of this deal "underlying assets offer significant security in excess of the face value " I am very much looking forward to an updated valuation of assets from CRV, it will confirm that the current MC is a very poor reflection of the true value here. By my maths the Brazil deal alone now covers the current market cap.......

Would be nice if we were proved right on this one after all these years TC. I think we will be FWIW.

Specific make-whole provisions have been agreed upon and will be offered to the Company by DLC Holdings regarding the valuation of DLC Holdings’ principal asset, the macadamia processing factory. These state that if the asset is not generating an EBITDA equivalent to $400,000 per annum or is not sold for a minimum value of $2,500,000 within two years of the completion of the DLC Transaction, then Craven House will have the right to appoint a valuation of the asset. If the sale figure achieved upon sale or the valuation fall below $2,500,000 then Craven will be issued additional shares in DLC Holdings up to a maximum value of $750,000.

Major shareholders of DLC Holdings as of the date of this circular are as follows; • Southern Cone Capital Ltd – 49.16% • The Canadian Depository for Securities Ltd. – 31.26% • Tara Duffy – 7.23% Mr. Mark Pajak is both a director and shareholder of Southern Cone Capital Ltd The directors of DLC Holdings are as follows; • Mr. Mark Pajak (also a director of Craven House Capital) • Mr. Balbir Bindra (also a director of Craven House Capital) • Mr. Craig Goldenburger • Mr. Barry Allen Both Mr. Allen and Mr. Goldenberger are independent directors and are not related to Craven House Capital.

The Board believes that the proposed DLC Transaction will provide a number of benefits to existing shareholders of Craven House Capital. These include the following; 7 • Increased liquidity and transparency: The Company’s Brazilian Land Assets are substantial and illiquid. Following completion of the DLC Transaction, Craven House will own liquid securities (shares in DLC Holdings) which can be valued on a mark-to-market basis going forward, thus increasing transparency in relation to Craven’s balance sheet and the ability for Craven to liquidate, in whole or in part, what are currently illiquid assets. • Increased focus on operations: DLC Holdings is a focused solely on farmland and agribusiness. The Board believes that the Brazilian Land Assets will benefit significantly from management under a focused agribusiness, which can develop the assets to their best potential. DLC Holdings believe that the land assets are suitable for commercial levels of macadamia production as well as other agricultural commodities, cattle ranching and forestry in addition to their long-term development potential. The Directors believe that an agricultural investment company with geographical focus will be attractive to certain investors interested in a single asset class rather than a diversified portfolio spread amongst geography and industry. • Increased control: As a result, following completion of the proposed DLC Transaction, Craven House will have full operational control over the combined Brazilian Land Assets and will be empowered to exploit their full potential. Craven House presently only benefits from a minority shareholding in the 1,973 hectare land holding in Caravelas.

Looks like its been all go whilst I have been away............. Website has been updated to make RNSs searchable. Wonder why when there's not that many !? http://otp.investis.com/clients/uk/craven_house_capitalplc/rns/regulatory-news.aspx?culture=en-GB

Interrogatories are formal questions a party serves on its opponent prior to a case progressing to trial, the responses to which are usually a simple affirmation or denial and which form part of the evidence. Leave of the Court is required to deliver interrogatories, except in the Commercial Court. The aim of these formal questions is to allow that party reduce and better determine the scope of the case and to narrow the issues between the parties before trial.

Latest update - 26/07/2017 Commercial Interrogatories 0 No JFN

"Waters signed a heads of agreement to sell Sretaw, the company which controlled Panda, to Craven for €78 million" That was two years ago before Pandas expansion and recovery in Irish cash generative company valuations as well as their purchase of Greenstar...

Panda Waste Owned by: brothers Eamon and Noel Waters Annual turnover: its accounts are unlimited, so revenue and profits are unknown, although we did enquire. It is suggested by industry sources that revenues are in the region of €80 million Greenstar Owned by: Panda Annual turnover: €96.8 million in last accounts Is this what the institutional investors have been waiting on perhaps TC?

Back in Court again today.... Are things about to get interesting?

For me jarnold the fact that as the acting solicitor for CRV, Mr Winters has then seen fit to join the Company speaks volumes. Same goes for Mr Burrows given the close family connection (and sizeable investment) to Mr Winters. For those that have read the press on the case, it does seem to suggest that Panda may well end up with "two black eyes" following this case, very droll, but the article does read strongly in CRVs favour. The fact that Sretaw are the only party to go to appeal so far gives me great encouragement.

Todays appearance has been amended- 25/07/2017 ADV MS JUSTICE COSTELLO 0037 XX FH 25/07/2017 ADV MS JUSTICE COSTELLO 0038 XX Different Judge, though I am not sure if this is significant or not?

05/10/2017 ADV MR JUSTICE BARRETT 0003 XX S.46.3