Member Info for Karina1

Mr Burrows has been interviewed by The Business Post today, and believe or or not, CRV get a mention. I am off for a lie down..... "I’m on the board, also, of Carlsberg in Denmark and Rentokil Initial in London, and I’ve also joined the board of Craven House Capital, a small investment bank. The area of interest, and one of the reasons I accepted the invitation to get involved, is disadvantaged assets in disadvantaged places, to buy them cheap with the expectation that you’re going to make a lot of money out of them. That, in essence, is what Craven House is all about."

On the bright side- " Sretaw are appealing to the Court of Appeal the direction of the Commercial Court in respect of this category. " Looks like CRV are ahead on points at this stage. ....

Back in the High Court 24th April.... I simply cannot see how this can reach trial, the documents either exist or they do not. The Appeal Court will not release any details of their decision sadly. A month now since the interims which included the statements - "we look forward to reporting further investment activity in the coming weeks and months." "with further investment activity expected to be announced shortly." Any time now then chaps..................

Thanks for your efforts TC, much appreciated. As our Legal Council he is perhaps busy as there are 2 entries in the Appeal Court for next Friday. Or perhaps fixing the website as its down currently. The interims made mention of news "shortly" and within a few weeks so at least the 7am RNS check has a little more promise currently.

I too am surprised at the lack on interest on the back of one of the most positive RNSs ever issued by Mark/The Company However a quick Google search reveals that short of the RNS being copied onto one or two websites, there has been ZERO press comment so far. SI Capital have not, once again, even managed to put the intermins on their Twitter feed, I do hope their fee is minimal.... Our best hope of press would seem to be if TW wants to stick his oar in as per usual ! So more news anticipated in the next few weeks and perhaps an update from the Business Post on the Sretaw Court case. And perhaps we have called it right on the VOS deal, lets hope.

Cheers Steve It could still be very early days, may just be that the judge has told one party that they must produce evidence that they do not wish to at the stage and they are appealing. Or we could be close to an answer, lets see what comes out.

Tom Lyons is going to look into the court case.

Hi Steve I have emailed the court of appeal and tweeted Tom Lyons, the journalist that covers the case. You never know, may get a reply form one or other....

Friday the 24th March In Court 1, Court of Appeal Building The President At 10.30 o'clock Expedited Appeals 9. 2017 67 SRETAW -v- Craven House Capital Plc

A little confused now, next date for court discovery is 24th April however it now shows as under appeal despite no judgement being made? Wonder if it will get a mention in tomorrows interims? Appeal Court Ref.: 2017 67 Date Appeal Lodged: 21/02/2017

Seems to be a theme developing with Mr Waters, the owner of Panda Waste "Property developer and hotelier Padraic Rhatigan is trying to stop Panda Waste founder Eamon Waters from building a rival hotel next to his in Dublin city centre. Waters plans to develop a 136-bed, seven storey hotel in a plot just behind the Radisson Hotel on Golden Lane in the south inner city, which Rhatigan is looking to develop. The two have been involved in negotiations since June of last year to come up with mutually agreeable plans. However, despite four meetings between the parties since June, Rhatigan claims that there has been no agreement on an acceptable design."

I very much doubt that Mr Burrows and Mr Winters would be on board if that were the case notaclu......

SA must be a smaller place than I thought given AP Vos Sales managers previous employer..... ;-) Francois le Roux Compliance & Sales Manager at AP Vos and Sons (Pty) Ltd Johannesburg Area, South AfricaFood Production Current AP Vos and Sons (Pty) Ltd Previous EmVest Agricultural Corporation Pty Ltd

Susan Payne an ex Goldman Saches banker who is also a shareholder in CRV and the CEO of Emvest (of which CRV purchased the Agricultural land in Africa) is extremely bullish on the nuts, view Susan talking at the 2013 Land Investment Expo: https://www.youtube.com/watch?v=9BoCwc9WOs8 So why speculate on CRVs involvement? Firstly, the Vos deal requires £32.5m in cash, which to the best of my knowledge Desmonds do not have, CRV now do. Secondly, Bloomberg now lists VOS as a joint venture with a Company called Qeton which was recently set up in Dublin with Brian Winters as Director, Mark Pajak is a recently resigned director. Thirdly, Craven Industrial Holdings Plc has been set up at the same address as Qeton with Brian Winters and Mark Pajak as directors. Craven Industrial Holdings are able to issue up to 500,000,000 shares. At the last AGM Mark confirmed he had access to £20m, with a further £30m from GEM is this pure coincidence

Remember this - Understanding where the funds will be spent proves tricky... looking back at previous acquisitions and taking into account the company have confirmed they are seeking transformational deals. One strong possibility is from Mark Pajaks other interest Desmond Investments. Some investors may remember that around this time last year Desmond Holdings (CRV’s investment manager) released news of the company buying 100% of a 1300 hectare Macadamia and dry fruit farm based close to CRV’s existing farm in Africa… this deal was for a total consideration of $65m - $32.5m in cash and $32.5m in shares… On first glance of such a deal this looks to be expensive, but after digging a little deeper it’s easy to see there is potentially extremely good value. One hectare of macadamia trees produce around 4000 kilos a season - times this by 1300 hectares equates to around 5.2m kilos PA - times by the current wholesale price of $4.40 (which also gained 20% in wholesale price over a 2 year period) would return annual revenues of $22.8m (US) at today’s prices. Macadamias are currently the most expensive nut in the world and there is a 2 year wait on Macadamia trees (they take 15 years to mature) and china's demand is huge, of course this most certainly adds reason as to the 20% rise in the luxury food item.

Brilliant find TC, well done and thank you. Desmonds never had the money to complete this transaction Qeton and CRV are closely tied up, sharing Directors and addresses Bloomberg lists a firm as Qeton & AP Vos I think you may have just hit the nail on the head.......

Afraid we will have to be more patient Scargs, next date in the legal diary is the 24th April. It is a potential 78m Euro plus case, also with big consequences for the waste industry in Ireland, so unless there's an out of court settlement it may well be a very lengthy process. Interims due out by the end of the month.

Both sides submitted affidavits to the court by Mondays deadline, there has been no update since then. Will let you know when there are further updates if CRV do not do it first.......

Thanks Spot Nothing further has been added today sadly, will keep checking.

It is all we have to focus on at the moment but I am sure there are other irons in the fire. Lets see what Mr Burrows can tell us in the interims due at the end of the month.