Lionhart sheds 6% of ERI stake

sriranga · 1 Lionhart sheds 6% of ERI stake Tue Oct 16, 2012 12:31 am

sriranga

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Lionhart Investments Ltd., yesterday sold 6% stake in ERI with foreign fund Caledonian Securities collecting the block.

Around 20 million of ERI shares were done at Rs. 15.30 each in a deal worth Rs. 305 million.

An equal quantity of Warrants 0003 and Warrants 0006 around were also done at Rs. 4.90 and Rs. 5.30 each, in a combined deal worth Rs. 203 million.

In recent months Lionhart has been selling down on ERI. As at June Lionhart's stake in ERI was 74.57%, down from 85% a year earlier. With yesterday's sale and recent shedding, Lionhart is estimated to be having around 60% stake.
http://www.ft.lk/2012/10/16/lionhart-sheds-6-of-eri-stake/

gann · 2 Re: Lionhart sheds 6% of ERI stake Tue Oct 16, 2012 2:25 pm

gann

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Lion heart may have transferred part of his stakes to a custodian account.
caledonian website says
http://www.caledonian.com/securities-brokerage-custody

CSL caters to sophisticated investors, including high-net-worth individuals and international businesses, who wish to invest and deploy their assets on a regular basis while maintaining the integrity of their offshore residency status. We provide a 'traders’ service, geared toward clients who require more than basic telephone orders. Our clients have the ability to control their orders themselves or we can handle it all for them.

CSL offers custody solutions where we safe-keep our client’s assets and by also providing additional access to our firms full suite of services, inclusive of FX transactions, settlement of securities, and assistance in corporate action events.

gamaya · 3 Re: Lionhart sheds 6% of ERI stake Tue Oct 16, 2012 8:12 pm

gamaya

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Rest assured these shares will end up in retailer hands in future, now that the new buyer does not have to disclose any shedding of shares. (because its not a main shareholder)

I wonder what happened to the shares transferred in the famous "win win" deal...

Now capital trust also keeping their mouth shut, seems to have shed their lot on unsuspecting retailers..

Whitebull · 4 Re: Lionhart sheds 6% of ERI stake Wed Oct 17, 2012 8:48 am

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gamaya wrote:Rest assured these shares will end up in retailer hands in future, now that the new buyer does not have to disclose any shedding of shares. (because its not a main shareholder)

They will shed it with a profit...will not ? So try to catch that moment Wink

gamaya · 5 Re: Lionhart sheds 6% of ERI stake Wed Oct 17, 2012 9:14 am

gamaya

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Whitebull wrote:

gamaya wrote:Rest assured these shares will end up in retailer hands in future, now that the new buyer does not have to disclose any shedding of shares. (because its not a main shareholder)

They will shed it with a profit...will not ? So try to catch that moment

They are much smarter than you or me pal.

What was the initial cost for one Greg share for lionhart. Rs 9 ? I dont care to remember.

And afterwards how many right isuues and warrants. Which further dilutes the sharecost..

And do you really believe that this foreign fund bought at the price they claim? Probably these are two good buddies. That price was for our information. Probably no money changed hands. I can think of hundred ways of getting fooled.

aj · 6 Re: Lionhart sheds 6% of ERI stake Wed Oct 17, 2012 10:23 am

aj

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gamaya wrote:Rest assured these shares will end up in retailer hands in future, now that the new buyer does not have to disclose any shedding of shares. (because its not a main shareholder)

I wonder what happened to the shares transferred in the famous "win win" deal...

Now capital trust also keeping their mouth shut, seems to have shed their lot on unsuspecting retailers..

Very important information. Thank you.

KAROSH9 · 7 Re: Lionhart sheds 6% of ERI stake Wed Oct 17, 2012 9:14 pm

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I urge all retail investors (especially novice)to stay away from this CRAP even it moves up 100%. This CRAP is a TRAP to steal retailers money. Its responsible to burning retailers than any other stock or crap in the market. So never listen to Crap promoters i.e.brokers tell you.