Yes , equity maybe negative at the moment.
One needs to go through the books a little more thoroughly.Back to 2004 .
This latest sale is valued at more than we actually paid for it by 6 million Euro.
Now if that plays out on all current assets , the write-downs of the past may actually have some value .
ERD will obviously define our fate in the end. and being our largest shareholder they may have plans for Kimberley .
One notices our resident accountant has not even noticed the latest accounts were unaudited .
Avoid this share like the plague. The number one giveaway is the fact that alltold is posting on here. He hasnt got a clue!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! As he said earlier dont panic when it was up 10% and now its down 10%. I would panic if i were invested here.
alltold i wish you well in the trade, however i see this as a worthless company with intterest anfdf finance payment of 11mill last year,,, annnd a nett ballance sheet value of negative £26mill after any credit
it technically and actually insolvent
Disagree 'one4all' this latest RNS has an immense upside and could revolutionise the company. Yes it is high risk but as I have said before can be high gain. I think we will see another three figure gain tomorrow as the news is digested but that is purely my synopsis after number crunching. GL.
On 7 July 2010, GBES Ltd. ("GBES") (a company incorporated in Cyprus) signed an agreement with ERD and with EGD to invest capital of approximately 9.2 million for 53% of the enlarged share capital of ERD (part of which was given as loan until the receipt of court approval) and to provide an additional credit line of approximately 10.2 million to ERD.
On 30 June 2011 the district court in Israel approved ERD request for the debt settlement and the investment agreement by the company with GBES. During the reporting period, the agreement between GBES and ERD has been completed, following which GBES holds 53% of the issued share capital of ERD. ERD owns 100% of the issued share capital of EGD, which in turn owns 68.35% of the issued share capital of the Company. GBES therefore has an aggregate equitable interest of 36.25% of the issued share capital in the Company.
During the reporting period the Company received loan from GBES in the total amount of 0.2 million, the loan was granted for a period of 6 months and carries a yearly interest of 6%.
After the reporting period, GBES has reached agreement with funds managed by Heitman LLC ("Heitman") to acquire all of Heitman's interests in Arces International B.V. ("Arces") and ENMAN B.V. ("ENMAN"). Arces and ENMAN are both joint venture companies currently jointly owned by Heitman and the Company. The aggregate consideration for the two acquisitions will be paid in instalments and it will include the assignment of shareholder loans provided by Heitman to the joint venture companies.
Completion of both acquisitions is subject to a number of precedent conditions, and is due to take place on or before 30 June 2012. Some of the precedent conditions will require the consent of the Company.
Thus KBE is worth ten times today`s MCAP .
In another world ,the market may be right .
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