I've just had a reply from Sandy Jamieson as follows: Unfortunately I am unable to provide specific answers to your questions, and can only direct you to the public announcements that the Company has made. Further announcements will be made as and when appropriate. More generally, it is fair to say that the Company is in a difficult financial position and has had to seek support from its parent company for short term working capital funding. The parent company is being supportive but does have its own financial issues. The Company is in discussions regarding the sale of some of its assets with various parties. Kind regards Sandy Jamieson It doesn't sound particularly encouraging, although it does of course depend on who they are talking to regarding sale of assets and whether the revenue to be gained by this is enough to fund them until sales pick up. I am going to try to find out more about the parent company. GL everyone
Winston love the ad, particularly the "hair optional" bit - Northern O, I totally agree with you, the three of us are all aware of the risks we have here, but when this comes good, we will celebrate big style! We will be playing mixed doubles at Wimbledon!! - Perhaps we do need another lady on this board - mind you I don't mind playing with the boys.... don't get excited, I'm talking about tennis. Nothing too interesting happening with any of my shares today so I'm going to bu-----er off and wrap some Christmas pressies. Have a nice evening gentlemen x
Good afternoon gentlemen. Hey Winston, you didn't tell me you were a tennis player, now that makes things far more interesting! I hope you all had a great weekend and have come back to the boards ready for a week of blues across the board (I wish!) Just to let you know that I don't have a reply from Sandy Jamieson at Libertas Capital but as soon as I have something I will of course let you know. x
Hello my friend, it is lovely to see you on this board too. Thank you for your comments and just as you are so diligent over on the CHAR board, you are just as helpful here. Whilst I do see this as quite a risky investment, it is with a company that has a good solid history. Had it not been for a recession that could have never been anticipated in it's severity, they would have been a solid company who would have grown phenominally in the coming years. However, the recession enabled us all to get in at low prices that would have been unheard of two years ago. The reason for my optimism and belief in the company's future has been based on the fact that recovery in Eastern Europe is gaining momentum and Engel's property portfolio tends to lean towards the lower end of the market which is traditionally where the pickup should be seen first. I have sent an e mail to Sandy Jamieson at Libertas who are Engels financial advisors asking the very questions that you have posed. Hopefully we will get some answers though I'm sure not all. An interesting link for anyone to read http://www.ceeconstruction.com/next.php?id=78687 For all who are invested here, we may lose out here, but there again if the company manage to ride this onslaught and emerge as one of the main builders of low budget housing, the sp will improve steadily. A crystal ball might be good for all of us but in the meantime I'm hanging in here GL to all. PS I didn't think you were really a traffic cop! x
"EEE who dares wins" Just to put it in perspective, there is a great sentence in the report in the Wall St. Journal "There are good reasons to believe that Europe's new market economies once again will grow rapidly when recovery begins in earnest." And as they recover, what is the first thing they will all want to buy - A NEW HOUSE!!!
I hope you are all having a great day - despite the sp and the never ending rain! Winston I can't disappoint you so have a little read of this which I hope will cheer you up a bit http://online.wsj.com/article/SB10001424052748704431804574541690171167068.html
Hello boys!!! Well well, I disappear for a couple of days and look what happens - we get a lovely opportunity to top up, shame I've put any spare readies into GKP - between that and Christmas I've got no spare change!! This is definitely one to tuck away for a while, you are right the commotion caused this week from Dubai hasn't inspired confidence in the property markets but this isn't a small time player either and they just need to be able to restructure their financing long term. As most of the European countries are emerging from the recession a little ahead of us, we should see some return of confidence by early spring which traditionally is when home buyers emerge from hibernation. If we could see more activity in their order books then we will see a rise in the sp - until then I think we may see further drops. Even bigger balls will be needed but hey, keep watching Blackadder and kEEEp smiling x
Why thank you dear chap, it has made my weekend knowing that I have honourary balls. As you say it is all relative. I agree with you, the parent company won't allow them to go to the wall and will help them ride this b......d of a recession - when recovery begins watch her fly!!! Have a great weekend
Hey boys, you're not alone - I think I've got more balls than most men I know 'cos I bought in a 6.45 and holding 200k of them. If this little beauty comes and gets back to over £1 then I'll throw a party - lobster and champagne for all LOL
So nice to see you on this board too, it doesn't feel as if you are quite on your own when you see a few more posters. As long as EEE can get their funding organised a bit better, they should be well placed for when the property markets see a level of growth. I know that many of the eastern european countries have really been in the mire this past year but you only have to look at the charts for Engel to see what they are capable of. I'm holding both my shares and my nerve. Fortune favours the brave!!
I knew I should have bought these this morning ARghhhhhh!! I'n going off to do my lines now "I must buy EEE, I must buy EEE" - perhaps one day they will go back to the heady heights of a few years ago!!! LOL