Member Info for Timmit

The licences were granted but the final permit was not. That indicated that the land could have change of use but the final permit allowed the actual building work to commence. If I understand it correctly it’s like being granted planning permission but not being physically allowed to start the project.

Sorry 500M euros..

If this court decision is not appealed or is upheld then the cash from the sale comes to CLP in November. That will allow the loans totalling 500 euros to be repaid to EU. That would leave CLP still needing to collect the remainder of its first charge against the other Mediapolis sales eg the 10 Sardinian villas (not sure why we haven’t heard any more about these coming to auction..) as well as its proportion of those assets as an additional unsecured creditor.

It might be that the 750k and 1.4M sales today were closings of the same amounts bought separately yesterday. If so they may have been speculative buys awaiting results and news...

The auctioneer's role is to get the best possible price for the asset being sold. The auctioneer/receiver could have achieved an effective price of 3.86 million euros as that was the valuation simply by transferring the land to CLP. Instead the auctioneer has slaughtered the entry price - unless it was going to be a hotly contested auction the final price wasn't going to achieve 3.86 million euros with a base price set at 2.61 million euros and a minimum bid of 1,958,374 (almost half the original valuation). It's not up to an auctioneer to establish planning policy he's just there to realise the maximum possible for the asset being sold - he failed spectacularly in that. As CLP have a first charge which, assuming worst case scenario and no more money due from Mediapolis land sale, still needs satisfying out of the sale of the other Mediapolis assets this transaction hasn't just deprived CLP of more money; it has deprived all of the other Mediapolis creditors as well. That makes it more serious for a court to consider.

In the interests of balance check out the credentials of the team at the Mediapolis company tasked with the project. http://www.gruppomediapolis.it/team/ - significant experience with projects involving drainage so if any team were able to tackle such a project they could. Part of the "local" argument was to make use of existing buildings a bit further away. The whole Olivetti saga around that area is a lesson in how development needs to be sustanable not just for 20 years or so but well beyond - the area is suffering the hangover from that even today which is why, ironically, it needs redevelopment! https://www.theguardian.com/cities/2016/apr/13/story-cities-21-adriano-olivetti-ivrea-italy-typewriter-factory-human-city

Out if interest did your order take quite a while to fill?

Late reported buy from yesterday morning 23/08/2018. 08:55:19. 0.786 1,614,885 12.69k

Not this Marco Coppini or the footballer or the Film guy... https://www.google.co.uk/amp/s/www.thelocal.it/20151104/italian-farmer-killed-by-hormonal-pet-deer/amp

I know they frequent BBs but aren’t MMs and Brokers prohibited by their codes of practice from manipulating share prices via this medium. Admittedly most of us will never meet in person so we never quite know who most of the posters actually are - I’m sure most of us are small players in the shareholder register and don’t generally act in unison. I’m sure market makers could build a reasonable short position but there not going to keep it for weeks based on BBs rumour & discussion surely...

I’m fairly sure there are no short positions in CLP. It doesn’t really lend itself to it because of the spread. I’m sure that the neutral or negative posts from some were either born of frustration or they were antidotes to some of the rampant optimism. Some other negative comments I think were from posters being naughty!

Despite what MM quoting..

Another 271038 for me...

So these are buys at .684

309064 for me....

Used to occasionally visit that way to do the accounts for the Shell and Esso petrol stations in that part of the world! Never had to find my way round in silly season thankfully but very pleasant to visit. At least if CLP doesn’t do as well as we all hope I’m recommending you to the Paignton Tourist Board as an eloquent promoter of their local economy :-)

DShox, trust you’re enjoying your break at Paignton. We’ve had a complaint from the Beyond Escape management team that someone insists on sitting round the pool wearing imaginary shorts! Could you find some real ones to put on! Have a good break fella!

Only 3 of the 5 MMs playing seriously with their usual 0.1p spread. Other 2 priced out of the park.

Sorry BTB, forgot to thank you for your explanation of how Eufingest’s “sacrifice” in their bonds means they don’t lose out overall. Lose with the left hand, gain with the right! Presumably any other bondholders who don’t have additional shareholdings won’t have come out of it quite as well.

RD, prefer your conspiracy theory though - much more interesting!!!