Member Info for pomander

Undervalued shares-price target mnear term 35 pence House Broker-price target 25 pence Evil knievel prioce target £1 plus Jim Mellon price traget £3 to £ 4 Look, the core business is highly cash generative, worth in my view a premium to today's share price. Unknown potential blockbuster is B2P which allows customers to but digital content on line up a $100 limit and charge to their phone bill. Reduces security risk of using credit card, 25% Americans don't have or don't want a credit card and merchants will offer as many payment options as possible to reduce abandoned shopping baskets. The price today, is in my view a great entry point.

May your arrow fly long and straight & right to the heart of your target. I will settle for a few quid, but BILL is the one ( MR Mellon 30% holding) that really could fly long and srtaight.

I agree with you, from what you are saying the € 20,000 being spent per flat in the Refurb program is not increasing those flats market value by sufficient amounts to offest the decline in value being caused by dilaidations and the low annual repairs and maintenance costs per flat which is causing vacancy rates to rise and these flats attract poorer quality tenants which in turn causes higher bad debts. I would presume work such as new bathrooms will fall within the refurb program. The only defence I can see is there maybe a timimg issue in that flats being refurbed are vacant and therefor the uplift in their market value is yet to be reflected. Otherwise the basis on which SDIC was formed would seem to be in question.

Bondholder Look, I agree with you, clearly there is a problem and this manifests itself in high vacancy rates and high bad debt levels. The big question for me is can the current management turn things around? €20,000 refurb per flat impossible.... I guess you meant €2,000 which still seems quite low.

Not totally clear on your point. But if you are saying their should be a further provision for repairs and maintenance in the accounts, my only counter comment would be that this is effectively reflected in the professional Estate Valuation. This fell in the last year and was reflected in the P/L as Change in Fair value of property Investment.

If you are correct that indeed costs being presented as refurbishment costs are indeed simply reairs and maintenance costs the model on which the company is based comes into question. Th epoiont about buying older properties was that you could buy them at a discount of 40% of the building costs of an equivalent new build property.(excluding land). By spending much less than that 40% on refurbishment the idea was that you were converting older properties into equivalent new build properties at a much lower building cost. This has certainly not been reflected in the market value of the Estate which shouldm be the case. Indeed it was marked down again in the last accounts.

I agree with your comments, thye accounts refer to a refurb figure of € 1303 (from memory) per unit that has been refurbed, so the amount being spent on maintenance can not as you say be adequate. This prortfolio is also made up of older properties. I think the company is in a vicous circle, poor original property choices, high repairs, poor quality tenants, high vacancy rates, high bad debts and of course it has hefty management fees to support. Heating costs are a big issue for tenants in these older properties and the coldest winter in 30 years will not have helped. I wonder at what price a bid might become attractive to a potential suitor.. Other companies in this sector are faring much better and have much tighter models in terms of cost control etc. SDIC seems to fall below the sector performance on many fronts. Below 12 cents I might start buying again. All very disappointing, glad I pulled out at 30 cents but not before I saw it climb to 40 cents. Those days look a long way off now.

You do not renegogiate loan covenants (especially in today's enviroment), you have to take action to met them or the bank takes control. That is why the reaction in the SP has been so severe. I would not hang my hat on NAV, indeed if we adopt the European standard SDIC is trading at a huge 89%+ discount to NAV........hopefully management can turn this around and match its competitors.

Negative cash generation from operating activities (ie. rents do not cover, managers fees, expenses & loan interest). No capital appreciation in the Estate despite refrurb program. Now in breach of a loan covenant...it is really that simple.

SDIC is a German Poroperty Fund, it is not ownwd by SYG, it is managed by SYG for an annual fee based upon the Estate NAV plus certain performance incentive fees. SDIC has a banking covenant issue and has seen its share price fall by 50% over the last month.

With all this snow around, I have taken opportunity to research some new stocks & I came across SDIC. Trading at a huge discount (circa 70%) to NAV and having just started to emerge from the worst recession and fall in property prices since the the 1930,s this stock represents superb value. I was confused by the drop earlier in the year but I think the business model was mis-understood by the market, plus it had a good run and looks as though some profit taking took place. The vacancy rate fell, as far as I can see, because the company was undertaking a huge fully cash funded renovation programme. With that nearing completion, rental income will rise as will NAV. This stock must double at least, if not, I suspect it will not be long before it comes onto the radar of a predator as there is huge unlooked value from what I can see. Can't be many better opportunities around at the moment.

Share price not trading at the open today.....

I can nolonger get a short executed on my platform so time to move on for me. I would'nt buy this at 1 pence let alone 25 pence. Good luck to all

Internal proceedures at Zinks Bank. They must use the only bank in the world that does not have procedures for transfering money.........oh dear its all Pete Tong again.

Frankly, anyone prepared to back this lot deserve all they get. Earthport plc ("Earthport") or (the "Company") Franchise Fee Earthport, the global payments utility, announced on 23 November 2009 that a non-refundable first-year franchise fee of £3.25 million from Zink Financial SA ("Zink") was to be received by 21 December 2009. Earthport today announces that funds have been received by Zink's bank for onwards transmission to Earthport. Once internal procedures at Zink's bank have been addressed, Zink's bank will execute this onwards transmission to Earthport. As these procedures may take a number of business days, Zink has requested that its bank issues a standby letter of credit to Zink with the intention of assigning this in favour of Earthport to guarantee matters. Further announcements will be made as appropriate.

Make that 9.15% at 4.14 pm. Much lower and the Board will have to make an annonvement under Stock exchange Rules.

At 4.10 pm on my trading screen, EPO down 7.32 %....I guess the markets view is fairly clear. I would expect some sort of announcement after the close.

I think that is a spot on summary.

Must be a rumor....I just put a short on WH Smith.

Allegedly, funds are working their way up the Panama Canal, avoiding Iranian Pirates on route, and being entrusted to Carrier Pigeons as the EPO Payments Transfer System was not deemed realiable enough for such a large transaction. Meanwhile back at HQ Officials of Zink and Hartfield have been sighted smoking large cigars and patting each other furiously on the back.