Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I didn't realise that Rentokil RNSed it. A company that size you'd hope some of their holders would pick up on the news and investigate CRV. I'm going to be keeping an eye on trades this afternoon, I wonder if any American investors might make some buys later.
Updated today. Interestingly no holders have increased there positions and no new holders have been added. Haven't worked out the numbers yet but seems like no single investor can have been above 3%? The identity and % shareholdings of the significant shareholders (as defined in AIM Rules for Companies): Roy Nominees a/c 535336 13.0% Desmond Holdings Ltd 10.9%** Xenon Tour Oikod Epeix Afon Daktylidi AE 9.2% Vidacos Nominees Ltd 8.2% Zhong Zhou United (HK) Ltd 6.5% Amber Fortress s.a.l. 6.0% Intelligent Building Systems Pty Ltd 5.7% Ferlim Nominees Ltd 3.3% **Connected to Mark Pajak, Non-Executive Director
Good find Karina. I think that from the RNS it sounds a pretty good deal. The problem is that we cannot investigate the company at all to check the facts. As good as it is to see an increased newsflow coming we really need a big deal(such as the apparent attempted Panda deal) to get us any sort of SP action or liquidity.
I hoped that this would bring some interest but I think the timing prevented that a bit. I sold a couple of grands worth last week just because I wanted the cash for something else but bought back the 146 shares yesterday just after the RNS. Looking forward to further announcements and/or the tear sheet update with interest.
They have tweeted before but not every time. The website thing is strange though, I've kept checking back thinking it'd get added but still nothing. SI Capital @sicapitaluk Jun 28 Craven House Capital: Notice of General Meeting and Migration from AIM http://www.investegate.co.uk/craven-house-capital--crv-/rns/notice-of-general-meeting-and-migration-from-aim/201606270700082769C/ …
A rare Pajak comment has appeared on the website for a chartered accountant/auditor. Over the line with something important I hope! http://www.rtaccountants.co.uk/our-clients/testimonials/ Thanks again Rebecca for all of your hard work and support in getting us over the line Mark Pajak, Director, Craven House Capital plc (London)
One thing I do wonder is how these parties expect to exit their investment. Even PIs such as myself couldn't really hope to sell our holdings if we wanted to with current liquidity. Either these new investors are in for years to come, they expect liquidity to massively improve or something else will allow them to realise their gains(Evan). Obviously I'm hoping it's one of the latter 2 although I really have no idea.
Got a reply from SI Capital. Seems like it's out of their hands. I can only repeat that if an event was considered material by both the Company and its Nominated Adviser, it would be formally announced to the market. A potential court case about a business the Company does not own is evidently not considered as such, notwithstanding how it may have come across in the press. The Company will be well aware about its affairs and what is published in the media, including online blogs, etc. Its contract with the market and shareholders is also well known and reiterated to them by the Nominated Adviser who, ultimately, answers to AIM Regulation. Kind regards
I also emailed CRV, SI and Spark yesterday morning with those links. No chance I will get any reply from CRV. I might get the usual snotty response from Spark and I'm hoping SI respond properly as they seem much more useful. Even in CRV logic I don't see how they won't be forced to issue an RNS on this now that they're getting bombarded with emails though so maybe we won't get any replies but an announcement will be made.
Other snippets 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.
Found an article about this here but it's behind a paywall. This seems quite frankly huge news for CRV to be attempting to buy a business this size. http://www.businesspost.ie/panda-in-high-court-dispute-with-british-investors Waste disposal firm denies contract existed to sell it to Craven House Capital in London 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, via a company called Sretaw, 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.