Greg Announcement

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.

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

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.

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

Genting wrote:guys.. Im bit confused...

who is selling who's shares?

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.....

~
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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%.

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

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

MJ wrote: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.