Member Info for Panama1

Good news today then - the new director has upgraded the website -next week the coffe machine

Good news today then - the new director has upgraded the website -next week the coffe machine

Good to see the posts here. yes, management have under promised, and delivered even less. the present directors are clueless. there ability is clearly recognised by the huge discount of the share price to asset value.

This stock will depend on the removal of the current board who are clueless. there ability is reflected in the fact that the share price is a very substantial discount to asset value.

The huge discount to asset value reflects the fact the directors and major shareholders are clueless. hopefully peterhouse will move them on.

Yes, lets hope we see some action. fund raise perhaps

I remember almost 40 years ago, in my twenties, i used to love to visit their offices, next door to Companies House in those days, picking up copies of all the company half year and annual reports. They had some great names, Kwahu, and United Tin Areas.

The company refinanced a year ago - raving about the savings it weill make. Since then, a share issue, debt conversion, and the price has fallen off a cliff. Next announcement we are back borrowing at crazy rates of interest.

What i sneeded is a change in the directors. The present crowd are content to carry on as it has and pocket their fees. Only one who will pay is Mr Rudland and the shareholders.

This sudden fall looks overdone, a great buying opportunity, especially as the value of Bisichi accounts for the full market value.

It is a text book case of value destruction by the board - rasing £25Ok gross, and cutting the share price to a third or a quarter overnught. After costs, how much have they actually raised? Probabaly less than £200k. This amount could have been raised in a much better fashion, but it shows the board of directors have little experience of listed markets. To maintain their percentasge Magister have had to convert us$255K of their debt, as well. They have three ranches currently standing idle - but costing money to maintain - a sle of part of these could have raised the same amounts as the placing, and diluted nobody. Most of the new shares issued are to one or two parties - so it has not expanded the shareholder base, in any significant way.

The current board are less than useless, th ecompany, following the subscription and the debt conversion is now valued at less than a third of what it was last month!

So we now have the fund raise.
What a discount. As most of the board, apart from Mr Rudland, havbe next to no shares inthe company, they cannot be bothered.
Mr Rudland should have replaced all the directors when he initially invested, he should definitely do that now.

Last June a refinancing took place of debt to save US$600k per annum, brokers were appointed last year also, and a fund raising is on the cards. Net asset wise , circa US10 million the company is hugely in excess of market cap, and three ranches, currently not operational are written down to nil. If the business can make a profit there should be a substantial rerate.

lets hope shareholders reject this acquisition - its unbelievable- the advisers and the independent directors should hang their heads in shame.

so things are starting tio hasppen now - although it is very questionable - buying the directors own company- what are the other directors thinking, and their advisers. hopefully this will be voted against, if it can be, and zak mir removed

beginning to look interesting. With brokers appointed a fundraise must be imminent, and the debt refinancing is positive. Hopefully we will start tto see the value get somewhere nearer the asset value.

Yes, the cash may be only slightly less than the market cap. but there is also 1.2 million of creditors, and it is stated in the reprts that DIA will be sold for 6k, so the net asset value of negative over 1 mill.