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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Greg Announcement

Greg Announcement

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1Greg Announcement  Empty Greg Announcement Thu Aug 11, 2011 5:40 pm

windi5

windi5
Moderator
Moderator
http://www.cse.lk/cmt/upload_cse_announcements/9971313065036_.pdf

What does this mean?.which shares they are gonna sell?.are they going to send money to the mother company?



Last edited by windi5 on Thu Aug 11, 2011 11:01 pm; edited 1 time in total

2Greg Announcement  Empty Re: Greg Announcement Thu Aug 11, 2011 5:51 pm

innam

innam
Manager - Equity Analytics
Manager - Equity Analytics
After all the magic platinum mines and mysterious BVI companies and nearly 2 years of payments and investing 2 BILLION of shareholder money GREG has earned a capital gain of 190 million.....

A magical 9% return on the magical platinum mine, investing that money in a local FD would have got a better return.

At least they are getting 2 BILLION in cash maybe this time they can earn a better return for their shareholders, oops guess what? they have to invest a lot of that to convert the CLPL warrants.

3Greg Announcement  Empty Re: Greg Announcement Thu Aug 11, 2011 6:29 pm

wiki


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
may be they are short of money to pay for the rest to BVI company so they sold their stake or they need money to invest in CLPL in an inam said or they gonna invest those many in another loss making company here..

How will affect this GREG price

4Greg Announcement  Empty Re: Greg Announcement Thu Aug 11, 2011 7:40 pm

Genting


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
guys.. Im bit confused...

who is selling who's shares?

5Greg Announcement  Empty Re: Greg Announcement Thu Aug 11, 2011 7:42 pm

rivi


Stock Analytic
Stock Analytic
GREG company sold their own shares to BVI

6Greg Announcement  Empty Re: Greg Announcement Thu Aug 11, 2011 7:47 pm

seyon


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Wow, Tomorrow will be the GREG day... As we expected this is good news for the GREG Lovers.

This sale of foreign investment will enable GREG to release from long standing issues with SEC. The next Wednesday GREG too may receive the letter from SEC.

This sale of investment will bring the Cash inflow of Rs. 2.2Bn with the capital gain Rs.190Mn.

7Greg Announcement  Empty Re: Greg Announcement Thu Aug 11, 2011 7:59 pm

seyon


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@innam wrote:After all the magic platinum mines and mysterious BVI companies and nearly 2 years of payments and investing 2 BILLION of shareholder money GREG has earned a capital gain of 190 million.....

A magical 9% return on the magical platinum mine, investing that money in a local FD would have got a better return.

At least they are getting 2 BILLION in cash maybe this time they can earn a better return for their shareholders, oops guess what? they have to invest a lot of that to convert the CLPL warrants.

I think, this sale investment may be due to the influence of SEC, since the SEC investigate about this foreign investment and this issue has been for more than 9 months. This sale of investment would be only way forward to release from SEC investigation.

One think we have to take into mind sale eastern platinum brought the capital gain of 1.6Bn, out of that GREG portion is about 23% and this about 400Mn and is already booked as associate company profit.

So the actual return of investment would about 400 + 190 = 590Mn and is about nearly 30%.


8Greg Announcement  Empty Re: Greg Announcement Thu Aug 11, 2011 8:08 pm

lankasecguru


Stock Analytic
Stock Analytic
i heard that the SEC judgment on Greg is positive today and they are goiong to place a Rs 3mn fine on Greg. that is it .

good luck

9Greg Announcement  Empty Re: Greg Announcement Thu Aug 11, 2011 8:31 pm

Market Sucker

Market Sucker
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@lankasecguru wrote:i heard that the SEC judgment on Greg is positive today and they are goiong to place a Rs 3mn fine on Greg. that is it .

good luck

what Suspect

10Greg Announcement  Empty Re: Greg Announcement Thu Aug 11, 2011 8:56 pm

hunter

hunter
Moderator
Moderator
I do not understand GREG's business model; so stay away from it usually.
But they have irresistible trading patterns some times.
So it is a day trading share for me.

11Greg Announcement  Empty Re: Greg Announcement Thu Aug 11, 2011 9:03 pm

rijayasooriya

rijayasooriya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@hunter wrote:I do not understand GREG's business model; so stay away from it usually.
But they have irresistible trading patterns some times.
So it is a day trading share for me.

Greg is well experienced,cunning(what I mean is they know the ways and means to reduce their loss) company.

There is a spelling mistake on the title.

12Greg Announcement  Empty Re: Greg Announcement Thu Aug 11, 2011 9:48 pm

kumudu


Senior Equity Analytic
Senior Equity Analytic
Yes they are cunning never paid any dividend either. whose shares? they want to do some thing to get price hike. dont jump you will lose in two days.

13Greg Announcement  Empty Re: Greg Announcement Thu Aug 11, 2011 9:53 pm

FXX

FXX
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Today i have noticed W0003 got some big buying orders, normally this is a share i monitor everyday but today buying orders were different to the rest of the days

14Greg Announcement  Empty Re: Greg Announcement Thu Aug 11, 2011 10:12 pm

seyon


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@lankasecguru wrote:i heard that the SEC judgment on Greg is positive today and they are goiong to place a Rs 3mn fine on Greg. that is it .

good luck

On what ground GREG is fined, I dont think..

15Greg Announcement  Empty Re: Greg Announcement Thu Aug 11, 2011 11:26 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@Genting wrote:guys.. Im bit confused...

who is selling who's shares?


Lionhart owns ERI and Photon.

ERI had ERL.

ERI sold ERL to Photon.

That is all.

Mr. Lionhart uda saakkuwen yata sakkuwata salli tikak da gaththa. Kalabala wenna epa.

Ape kattiyath yata sakkuwe ellila inna nisa eke hilekin salli tikak ape katatath wetei da danne ne.

16Greg Announcement  Empty Re: Greg Announcement Thu Aug 11, 2011 11:27 pm

innam

innam
Manager - Equity Analytics
Manager - Equity Analytics
@seyon wrote:
@innam wrote:After all the magic platinum mines and mysterious BVI companies and nearly 2 years of payments and investing 2 BILLION of shareholder money GREG has earned a capital gain of 190 million.....

~
.

I think, this sale investment may be due to the influence of SEC, since the SEC investigate about this foreign investment and this issue has been for more than 9 months. This sale of investment would be only way forward to release from SEC investigation.

One think we have to take into mind sale eastern platinum brought the capital gain of 1.6Bn, out of that GREG portion is about 23% and this about 400Mn and is already booked as associate company profit.

So the actual return of investment would about 400 + 190 = 590Mn and is about nearly 30%.



@ seyon if you are pulling figures out of thin air, please try to back it up with some financials or at least a magic announcement.
the magic platinum mine was sold in January 2011
http://www.cse.lk/cmt/uploadAnnounceFiles/8951295858044_782.pdf
yet the March financials only talk about a 97 million associate company profit in note 14
http://www.cse.lk/cmt/upload_report_file/782_1306917981070.pdf
so can you please show us where you got Rs 400 million from? in any case given the lack of proper disclosure we can only assume that the magic platinum mine only gave a Rs 190 million or 9% return for the GREG shareholders.

On a different track, isn't it funny that LIONHART took back the remaining gold investments of the BVI company right when gold prices hit a record leaving GREG shareholders with a lousy Rs 190 million capital gain?
In June Lionhart didn't have enough money to subscribe to the GREG warrants but now they pay USD 20 million (and get their hands on the BVI company's cash balance of USD 40 million-apparantely held in a SL bank-which allows them to subscribe to the GREG warrants in December). Money going from the left hand to the right hand and then finally ending up in the left hand? Doesn't any of this smell funny to GREG "investors".

as @ hunter has pointed out this is a great trading share but "investors" should be extremely careful.

P.S.- Rs 2 BILLION only amounts to Rs 6 per share for GREG given the massive 300 million shares in issue and the Rs 190 million capital gain only amounts to 50 cents per share.



Last edited by innam on Fri Aug 12, 2011 12:18 am; edited 1 time in total

17Greg Announcement  Empty Re: Greg Announcement Thu Aug 11, 2011 11:46 pm

rijayasooriya

rijayasooriya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Chinwi wrote:Ape kattiyath yata sakkuwe ellila inna nisa eke hilekin salli tikak ape katatath wetei da danne ne.

Yata saakkuwe hilen salli watena kota wena hil walin ape katata monawa wateida danne naha Laughing

18Greg Announcement  Empty Re: Greg Announcement Fri Aug 12, 2011 12:02 am

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Thank you for quick + rep .
---
In addition to my previous post:


This is not the first time they did this.

Meeta kalinuth me aya Uada-yata (sakku) maaru karagena gahanna beluwa. Eth vena rata wala wage mehe eka hari yannema ne wage.

I am writing this because there are many newcomers who missed our talks about this topic in Investnow ( another blog) many months ago.
You may take extra effort to evaluate this share before putting your money.

I am not saying this is good or bad. Because I do not waste my time to study and follow their work or write about them.

I feel Innam has the same problem I have. When I feel a cunning fox is trying to screw our people thinking all of this country are fools I cannot keep my mouth shut.


19Greg Announcement  Empty Re: Greg Announcement Fri Aug 12, 2011 12:08 am

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@rijayasooriya wrote:
@Chinwi wrote:Ape kattiyath yata sakkuwe ellila inna nisa eke hilekin salli tikak ape katatath wetei da danne ne.

Yata saakkuwe hilen salli watena kota wena hil walin ape katata monawa wateida danne naha Laughing

Ha Ha . Sure !

20Greg Announcement  Empty Re: Greg Announcement Fri Aug 12, 2011 5:48 am

MJ


Manager - Equity Analytics
Manager - Equity Analytics
ERI to focus primarily on Lanka; to sell stake in BVI-based ERL Published : 3:33 am August 12, 2011 | No comments so far | Environmental Resources Investment Plc’s Board of Directors has resolved to sell the stake in BVI-registered Environmental Resources Ltd., (ERL) to primarily focus on investments in Sri Lanka.


ERI has to date paid three tranches for 23% stake totaling Rs. 2.05 billion or $ 18.1 million. The disposal is subject to regulatory approval.
The purchaser of the stake will be Photo Global Ltd. BVI and the ultimate beneficiary being Lionhart Investments Ltd. which is also the major shareholder of ERI Plc. Expected sale price is around $ 19.7 million with a capital gain of around $ 1.7 million for ERI.
“The decision to dispose was made based on the improving business climate with the overall local economy as the Company primary focus is on local investments,” ERI Director Dr. Kosala Heengama said in a filing to the Colombo Stock Exchange.

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