Member Info for Karina1

Quiet day at work and been meaning to look at this for a while. Since the interims, CRV have raised $13.29m in placings at $12.50 There was a healthy cash balance in the interims and as we know CRV have low outgoings so this should still be held in the bank, less the SA loan acquisition of $1.4m paid in cash That leaves $11.89m still sat in CRVs bank account Now I am the first to admit that the mechanics of convertible loan notes are well over my head but I envisage that CRV will value the asset at the "purchase price" as they have in the past. Since the last numbers, investments have been made to the tune of $7.73m and again I assume CRV will value theses at the purchase cost rather that the current value. Assets in the interims were circa $6.3m so assuming no right offs this time (which would HAVE to have been RNSd...) that gives in very rough terms, current assets of $27.3m. From tomorrow (updated tear sheet...?) there will be 2,464,362 shares in issue, gving an asset value per share of just over $11. We are currently sat at $7.60, knowing that $13.29m has recently been placed at $12.50. Reasons to be cheerful ! Feel free to pick holes in this if I have made any mistakes.

MMs are hammering us on next to nothing in terms of the cash value being sold. The $3m investor is looking at a current valuation of $1.68m, a paper "loss" of $1.32m, 44% down. Would love to speak to them for 5 minutes.

Its well worth a read Steve isn't it. From my research Mr Burrows has very strong links with the legal team representing CRV in this case, purely coincidence I am sure. The court case can be followed in basic form here - http://highcourtsearch.courts.ie/hcslive/terms_conditions.show

With regards the Panda deal, I am of the understanding that if CRV win, Sretaw will be obliged to sell the business to CRV. The price? I understand its 78 million Euros...... One of many reasons I have not sold a single share and have a six figure holding.

The new investor is currently over $1m down on paper, I would dearly love to see Mr Pajak and Mr Burrows presentation on investing in CRV.... it must be 'kin good !

Nice timing Rusty !!

Will be interesting to read the new Chairmans statement with the results 030, within the next 13 working days in fact. CRV are also back in court on the 30th November Interesting times indeed................

http://m.independent.ie/business/irish/exirish-distillers-boss-in-line-to-lead-worlds-biggest-tobacco-company-35151658.html

Steve, its details of the Sretaw court case. Its not available in the public domain and understandably the author will not give me permission to reproduce the article here. I have paid the subscription, its not much in the scheme of things plus they are following the case through to conclusion so money well spent when CRV are not disclosing it even exists. From my research on the case and those involved I can kind of see why...... Or perhaps TW will just run a piece and disclose it all any way !

Same old same old, no way of knowing how good a deal, or not, this is for CRV..... I do take great comfort from the fact that MP is not the sole captain of our ship any longer though. You would be better spending a few Euros and reading this if you hold CRV. https://www.businesspost.ie/opinion/pandas-mating-season-craven-winds-court-367288 How this is not deemed "material" enough for an RNS is truly beyond me. Wonder how long until you know who rehashes it as great investigative journalism....! ;-)

Thanks TC, appreciated. Another piece of the jigsaw of course - Craven Industrial Holdings Public Limited Company was set up on Tuesday the 30th of June 2015. Their current address is Dublin 2, and the company status is Normal. The company's current directors Mark Pajak and Brian Winters I see that the Panda court case was adjourned with a date set for a further hearing, must have legs then. This is my last post for now until we hear more form the Company.

At least we can follow the Panda case through the courts now TC, not that we should have to.............. Was just reading back on old research and with Mr Winters now on board I still think this could be the game changer here - Mr. Mark Pajak reports DESMOND ANNOUNCES PROPOSED ACQUISITION OF VOS Desmond Investments Ltd. has entered into a letter of intent dated Aug. 22, 2014, to acquire AP Vos & Seuns (Pty.) Ltd. and its related companies. The acquisition is at arm's length. Vos and its related companies are private, family-owned and operated, farming operations of mixed fruit and macadamia nut orchards in South Africa. The property consists of approximately 1,300 hectares located close to Desmond's existing macadamia nut processing factory in the province of Mpumalanga, South Africa. Vos currently supplies wet and dry raw nuts internationally. Further information regarding Vos, including financial information, will be provided when available. The LOI contemplates a purchase price of $65-million, to be satisfied through the issuance of 135,416,667 common shares of Desmond at a deemed price of 24 Canadian cents per share, and the sum of $32.5-million (U.S.) in cash, in exchange for all the issued and outstanding share capital of Vos Qeton Ltd And AP Vos & Seuns (Pty) Limited is a holding company that sells wet and dry raw nuts. The company is based in South Africa Qeton Limited was set up on Wednesday the 12th of November 2014. Their current address is Dublin 2, and the company status is Normal. The company's current directors Brian Winters and Maura Africano

$9.30 to buy it seems

Any legal eagles here? The Panda case went to the High Court under motions for entry yesterday, with no papers. No idea what that means? 13 2016 6386 P SRETAW -V- CRAVEN HOUSE CAPITAL PLC (No Papers)

So in a nutshell a judge will decide if CRV are to make by far the largest investment in their history, receive damages from Panda, lose the case or the case will settle before court. Seems an odd one as there is either a signed agreement or there isn't and therefore one sides solicitors will have to blink first surely? And yet this is not deemed material enough for an RNS......

The nature of the dispute between Craven House Capital and the owners of Panda Waste has become clearer. Kennedy Solicitors are acting for Cravan and James Wall Solicitors are acting for Panda. There appeared to be heads of agreement signed in May 2015 whereby Craven House intended to buy “Stretaw”, owned by Eamon and Robert Waters. Craven House is looking for specific performance of the same. Panda is currently seeking competition clearance to buy Greenstar which would take it further south than its current North Leinster footprint. Panda in High Court dispute with British investors Craven House Capital, a London investment house, has initiated a legal action to force the owners of Panda Waste to sell their bin company to the AIM-listed investment firm or to pay damages for alleged breach of contract. The owners of Panda, have denied any such contract existed and have brought separate proceedings in the High Court seeking a declaration that the company is “not party to a binding contract” with Craven as outlined in a heads of agreement dated May 21, 2015. The owners of Sretaw are Panda‟s shareholders Eamon and Robert Waters. Eamonn Waters acquired the Panda business in 1990 and has annual revenues of circa 90m.

Well, well, CRV made the papers, well one, but its a start. http://www.businesspost.ie/richard-burrows-becomes-chair-of-craven-house-capital/ AIM-listed company specialises in restructuring, expansion and turnaround investments Richard Burrows, the chairman of British American Tobacco and former governor of Bank of Ireland, has become chairman of Craven House Capital. The AIM-listed company specialises in restructuring, expansion and turnaround investments in crisis and transitioning economies. Craven recently acquired a non-performing loan portfolio in South Africa, invested in a hotel in Greece and acquired land in Argentina. It is also involved in a legal dispute with the owners of Panda Waste in Ireland. Solicitor Brian Winters has also joined the company’s board. “The Company’s philosophy and strategy should provide an exciting opportunity for shareholders and I look forward to working with the board and management to expand and grow the business,” Burrows said in a stock exchange statement.

Mr Burrows - Shareholding in the Company: 1,000 ordinary shares (representing 0.04% of the total issued share capital) There is no further information required to be disclosed in respect of the above appointment pursuant to Schedule 2(g) of the AIM Rules for Companies.

Everyone's free to do and say what they wish Rusty of course, but given Mr Winters is a solicitor I would not be making any sort of accusations or even inferences without being 110% sure of my facts, which is simply impossible for the reasons you point out. As you say, this is the most positive thing ever to happen in the history of CRV in my view and IF the Burrows family have invested over £1m in CRV at a huge premium then happy f#cking days, 'scuse my language ! I don't care how they did it, just that they have. I have every spare penny I have in CRV, if not I would be adding right now. DYOR WTFDIK etc etc etc

I believe that was the point Steve was making 030. Is Mr Burrows leaving BAT? I haven't seen anything to confirm this? Are we sure we want to be discussing this on a public forum chaps?