Member Info for Timmit

Remember when FG appointed that the RNS stated: "In addition Mr Gardin will recevice a bonus equal to 10% of the realised value of any assets disposed after his appointment."

One for the armchair lawyers - if CLP is assigned the benefit of the land in the event of the reserve price at auction not being met does that count as a disposal? I'd be happy for FG to have his 10% but I don't suppose anyone anticipated this particular series of unfortunate events when that was drafted!

Hi Surprised, don’t know if you noticed yesterday and today on level 2 that some of the spreads have been tightening. Normally there is a difference of 0.1p between bid/offer for each of the MMs. So WINS might quote 0.88/0.98 while PEEL might quote 0.83/0.93. Yesterday a couple narrowed to 0.05p and today one is showing 0.06p difference. That’s got to help in reducing the daft spread if a couple of MMs at least are prepared to make less than 12% a turn.

And the BOD will only have the RNS issued when they have heard the auction result OFFICIALLY through the proper channels. They were blindsided by the court a few months ago when the court updated its website with a result but hadn’t informed CLP’s lawyers (RNS 27/10/17)! Nevertheless it’s still right that they wait for the official channels as it’s only when ownership is properly assigned that you can truly report what you own.

Haven't heard of any walk he was involved with! You are either extremely well informed or suffering heatstroke like the rest of us RD!

And the pies!

I understand from RKB that there were just 2 "normal" shareholders present at the AGM including someone called Simon (think he has a nickname and a reputation for shorting) who has been quite big on CLP for a little while now if his recent articles are anything to go by. RKB very positive and looking forward to see how things develop from here...

Not so fast Fourprinces - the first charge amount of €2,678.357 is already in the accounts - the extra is how much is gained over and above this by the sale of the land/villas etc against our unsecured claim of €8,211,897.

It was dated yesterday, I removed the date in pasting the rest of the line...

reported from yesterday 16:22 9,735,000 at .8522 - looks like correctly reported as a sell so that's why it didn't launch last night despite all the buys...

Yes, the only thing you “officially” know if you attend before the RNS is whether the resolutions have been passed or not...

I, they had posted notices with 12:00 in but put 11:00 in the RNS of 29/06/18.

Presto, I had hoped to go today but was running out of time before holiday so voted electronically. Don’t know if Vauch or Rusty is going this year. It’s not as necessary as last year’s seemed.

Last 36 trades all buys (last night and this morning...)

And there it is - delayed trade

24-Jul-18 16:41:04 0.8845 3,210,000 Buy £28.39k

Wasn't showing a few minutes ago when I looked...

That would make sense as they couldn’t lease the land to a farmer if the liquidation was going through...

Yes rebel100, that was the last set of accounts before the court ruled to liquidate Mediapolis - there was no mention of this claim in the full year accounts for Dec 2017 realeased last month. It’s that which makes me think the claim disappeared in the liquidation.

You’re right Spary1 that’s what the damages claim was about because the local government had been so tardy issuing the final permit. It’s like saying you can build this development but we haven’t granted construction to start! But I’m fairly sure that the claim must have disappeared in the liquidation unless the rights to the claim have been transferred to another party. If so, I would have thought it would have been on an RNS.

Interesting recent article discussing agricultural land prices throughout Europe....(and New Zealand!). http://www.finfacts.ie/Irish_finance_news/articleDetail.php?Hectare-of-agricultural-land-costs-24-000-in-Ireland-6-000-in-France-807 Italy quoted as an average of US$19,400/ha. On that basis 497,884 square metres would come out at US$ 965,895 which is 823,913 euros. That’s just for plain vanilla agricultural land and is based on an average across the country. Residential prices with planning permission in Modena would imply the equivalent of more than 20M euros. But it’s more complicated (as always!) with Mediapolis. The state of play with Mediapolis is that there was a permit granted for a proposed building plan in 2009 but the final construction permit wasn’t granted. Any bidder would have to be fairly confident of either going ahead with an entertainment facility or getting a change of use for another project. Don’t know how you go about reaching a fair value for the land with some permits already granted without the final piece of the jigsaw...interesting week ahead.

Thanks Max...

Max, what do you think the significance is under the “Vendite già effettuate” (Sales already made) section where it mentions a sale of € 3.481.555,00 on 27/09/2017?