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Greg Announcement

+11
kumudu
rijayasooriya
hunter
Market Sucker
lankasecguru
seyon
rivi
Genting
wiki
innam
windi5
15 posters

Go down  Message [Page 2 of 1]

21Greg Announcement  - Page 2 Empty Re: Greg Announcement Thu Aug 11, 2011 11:27 pm

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

22Greg Announcement  - Page 2 Empty Re: Greg Announcement Thu Aug 11, 2011 11:46 pm

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

23Greg Announcement  - Page 2 Empty Re: Greg Announcement Fri Aug 12, 2011 12:02 am

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.


24Greg Announcement  - Page 2 Empty Re: Greg Announcement Fri Aug 12, 2011 12:08 am

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 !

25Greg Announcement  - Page 2 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.

26Greg Announcement  - Page 2 Empty Greg anouncement Fri Aug 12, 2011 9:45 am

abp1970


Manager - Equity Analytics
Manager - Equity Analytics

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.

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