Member Info for smudgedan

Yep, proper shareholders as well for a Chinese company, not that BVI holding company stuff alsa NBU and CMAK etc. Even Walkers Crisps are a shareholder!

Yep, volume is indeed the key, but that free float will be squeezed quickly imv

Good Morning mate, will be interesting to see if it carries on from yesterday. The very limited free float will come in to play if we see a few buyers.

Inner Mongolia facility As announced on 23 April 2013, the Group had reached agreement with the local authorities in Ulanqab City, Inner Mongolia authorities over compensation terms and the resumption of building in Ulanqab, totalling approximately £5 million. However, with the advent of discussions in Linyi over a possible site re-location due to the redevelopment zone, the Board decided that it should not continue to pursue the commencement of rebuilding in Inner Mongolia while the option existed to expand within Linyi. Accordingly the local authority in Ulanqab City has been informed that the Company no longer wishes to pursue its original plan in Inner Mongolia and will continue to seek compensation. Negotiations are currently taking place on the understanding that the compensation agreement will be 'fair and reasonable' to both parties. An open dialogue exists with the Inner Mongolia authorities. Taken from 2013 results "Given the investment to date of approximately £9.138 million in Inner Mongolia, the Board has decided that an impairment provision be made of £6.684 million, representing all of the costs incurred to date, but excluding 50% of the equipment which has already been paid for and is considered re-useable in the construction of the new facility in Linyi. The provision will be released when the quantum of the compensation agreement has been agreed."

"Inner Mongolia facility As previously announced, the Group has been severely impacted by the notification to cease construction in order to make way for a new passenger railway terminal which will be linked to Beijing. The Company has sought diplomatic support from the UK's embassy in China to help in reaching a satisfactory settlement. In addition to the overarching understanding that the Company will not suffer any financial loss as a result of the rezoning process, the following specific principles have been established: · The Company has been offered land on an adjacent site only 0.5 km away from its existing site. The land will be of approximately half the size of the site of the current facility (approximately 200 mu (13.33 hectares) rather than 400 mu (26.67 hectares)), and the Company should be reimbursed the proportion of costs already incurred for the land, which equates to approximately £800,000. The Board is satisfied that the remaining land is sufficient for the Company's requirements · The Company will receive compensation for the costs incurred in terms of construction, relocation, inflation and interest · In respect of the costs incurred in construction of the manufacturing facility, an independent valuer (acceptable to both parties) will be appointed to appraise the construction cost. The Company is concurrently obtaining third party quotes for the rebuilding of the facility, which will be compared against the independent valuer's appraisal." I know from experience that legal wranglings in the region can take an inordinate amount of time, UVEL being a good example of this, but given that the proposed compensation figure includes interest, the final amount should be a tidy sum, exceeding the current MC on its own.

Percentage of AIM Securities not in public hands 91.6% of shares are not in public hands As at 28th July 2014, significant shareholders with more than 3% holding in the Company were: RAY ANG W B ESQ 33.79% WALKER CRIPS 6.46% WESTMINSTER ENTERPRISES LIMITED 5.47% GUNN J H ESQ 4.21% HERMES FINANCIAL GROUP BVI LIMITED 3.73% PEEL HUNT LLP 3.44% 181 FUND LIMITED 3.02% So only 8.4% of shares are in public hands. None of the above holders have sold and all are in at significantly higher levels than the current share price. In rough terms, at the current SP there is only approximately £200k of equity outside of the holders above. New due next week on the Mongolian compensation and the release of some the £7 million of cash on the companies books in China. Current MC less than £2 million. Underlying business is consistently profitable and growing demand for their products.

Yep, a bit odd, people selling at a loss after 10 mins. This company is trading at less than a third of cash at hand and is profitable.

Thanks, ATB

are out in the next week. Should make good reading

Ok mate

Can buy at 3.65 now mate

looking for undervalued shares and came across this one. Will text you later.

Dont know mate. I bought at the start of the day right on the bid at 2.5

Cheers, was having a look for undervalued shares today. Knew about this one from a few years ago. Actual spread is quite a bit tighter than shown.

Would be nice. Still wouldn't be valued at cash at that level.

there are some other people to talk to on here now!

Ha Ha

£6 buy just gone through!

The Board is pleased to report that the Group's operating subsidiary, Linyi Van Science and Technique Co., Ltd ("LVST") revenues for the year ended 30 September 2014 were RMB 143 million (£14.3 million)*, which is in line with expectations and similar to the prior year (2013: RMB 142 million, £14.6 million). During the second half of the year, LVST has witnessed increased fluctuations on the selling price of potassium sorbate. This has impacted on the LVST's overall operating margin for the full year, expected to be approximately 10% (2013: 13%), as well as, a reduction in LVST's operating EBITDA to RMB 11 million (£1.1 million)* (2013: RMB 16 million, £1.2 million). Market demand for Sorbic's products continues to be strong.

at over 35p. Even a year ago it was over 9p