aktuelle Meldungen ab 30.09.2005 - 500 Beiträge pro Seite

[schoenrain]

Interim Results

RNS Number:0002S
Langbar International Limited
30 September 2005


FOR IMMEDIATE RELEASE 30 September 2005

Langbar International Limited
(formerly Crown Corporation Limited)

Interim Results for the period ended 30th June 2005

Langbar International (" Langbar" or " the Company" ), the UK listed investment
company, announces its interim results for the period ended 30th June 2005.

Highlights for the period:

*Pre-tax profit #14.77 million (Period to 30th Dec 2004 #166.81 million)

*Asset value, at period end, #356.85 million equivalent to 205p per share

*New Chief Executive appointed, new non-executive Director appointed

*Langbar Capital, a corporate finance advisory and investment company,
acquired, the consideration wholly satisfied by the issue of 2 million
common shares

*Capital reorganisation

*Arden Partners appointed Nominated Adviser and Broker

Post Balance Sheet events:

*Total of #4.1 million raised via Placings

*$294 million transferred to ABN Amro, Holland from Banco do Brazil,
Brazil

*Acquisition of Real Affinity plc, an integrated marketing services
company for a consideration of #2.6 million, wholly satisfied by the issue
of common shares

*Balance of cash held in Brazil to be transferred to EPIC, the property
subsidiary

Stuart Pearson, Chief Executive and Acting Chairman, commented:

" The performance of the share price has improved dramatically since we last
reported in June. However it is still substantially below the net asset value of
the business.

" Since my appointment we have been focused on realising the asset value by
releasing the funds from Brazil and on keeping shareholders up to date with
events. We recently announced that $294 million had been transferred to ABN
Amro, Holland.

" The strategy for the future has not been changed and it remains to produce
consistent and growing earnings for our shareholders by actively managing the
investments. These will include early stage, pre-IPO and small company
investments, of which Real Affinity represents an excellent example, as well as
larger ones where appropriate.

" The Company is carrying out due diligence on a major property investment and is
also looking at a number of smaller interesting opportunities where profit and
shareholder value can be significantly enhanced. Investments made are likely to
have a UK and European focus in the short term."

ENQUIRIES:

Langbar International Limited Tel: [phone]
Stuart Pearson, Chief Executive

Bankside Consultants Tel: [phone]
Michael Padley / Susan Scott

Chairman`s Statement

Since my appointment we have been focused on realising the asset value of the
Company by releasing the funds from Brazil and on keeping shareholders up to
date with our progress.

In addition we have continued to expand Langbar Capital which has continued with
its advisory work and has made a number of small investments in small cap UK
companies. It has also identified the first acquisition, Real Affinity plc,
details of which we have announced today.

Prior to the period end, the Promissory Note of #194 million owed to Langbar
International Limited was repaid and the deposits of #165 million held by Crown
Pharmaceuticals Limited, a former subsidiary, were acquired. The consideration
was satisfied by the issue to Crown Pharmaceuticals Limited of 71,000,000 common
shares in Langbar International Limited, such shares being subsequently
distributed to Crown Pharmaceutical shareholders.

As a result of these changes the Company had over #360 million in cash deposits.
On 31 August 2005 #165 million was transferred to ABN Amro BV in Holland and we
announced that we had the agreement of Banco do Brasil that the balance of the
funds held in Brazil could be utilised to acquire property assets in Europe,
mainly Spain and Portugal.

The gross income for the period under review amounted to #26.84 million and the
profit on ordinary activities was #14.77 million.

During the period a small number of shares were issued to give the Company
sufficient working capital to allow the business to function and to allow the
management to carry out due diligence on potential investments. A total of #4.1
million (net of costs) was raised.

Property Investment

As announced 6th September 2005 the Company is continuing to evaluate European
property opportunities in Portugal and Spain.

Acquisition of Real Affinity plc

The acquisition represents an excellent example of Langbar Capital`s activities
in identifying and acquiring an established UK business, currently undervalued
by the market, and which can be substantially enhanced by leveraging Real
Affinity`s position in its marketplace using Langbar`s greater size and
financial strength. Real Affinity has identified a number of acquisition targets
which it would not be able to pursue as quickly as it would wish without access
to greater financial resources.

Langbar has released a separate announcement today giving full details of the
acquisition.


Background to the Offer for Real Affinity plc

Real Affinity has failed to fulfil its ambitions since floating on The
Alternative Investment market in July 2003. Continuing losses have resulted in
structural change and rationalisation of the group. This process carried out by
the newly appointed Chief Executive, following the departure of the founder in
March, has sharply reduced the Company`s losses.

Following the changes made Real Affinity is now ready to resume growth and has
identified a number of acquisition targets.

The Board of Langbar believe that Real Affinity`s value is not recognised by the
market, despite its impressive client list, in part because the company is a
small player in its field and will struggle to grow in a competitive arena.
Langbar can provide the financial support to enable Real Affinity to become a
significant player in a relatively short time.

Real Affinity gives Langbar a very good profit opportunity and also provides the
Company with accounting, IT and administration facilities. Various acquisitions
have been identified by the team at Real Affinity which will allow the business
to expand rapidly. Once the business is of sufficient size and strength it is
expected that Real Affinity will re-list as an independent company.
Strategy

The strategy for the future has not been changed and it remains to produce
consistent and growing earnings for our shareholders. EPIC will be focused on
real estate activities and Langbar Capital on active investment which will
include early stage, pre-IPO and small company investments, of which Real
Affinity, represents an excellent example.

Prospects

The Board has made significant progress in a short period of time: we have
re-organised the share capital into one class of share, we have changed the name
of the Company, invested in two small companies, identified the first
acquisition, successful remitted funds from Brazil and are carrying out due
diligence on various property opportunities.

Overall, your Board views the future with confidence, progress is being made on
a number of initiatives which should achieve the aim of narrowing the
differential between the share price and net asset value and also offer future
potential profit.

G Stuart Pearson
Acting Chairman and Chief Executive 30th September 2005

LANGBAR INTERNATIONAL LTD

PROFIT & LOSS ACCOUNT
For the period ended 30 June 2005

Period ended Period ended
30 June 2005 30 June 2004
(unaudited) (unaudited)
#`000 #`000

Turnover - 153,168

Administrative expenses (12,073) (6,832)
----------- -----------
Operating profit (12,073) 146,336

Return on investments 30,911 (126)
Interest payable and similar (1)
charges -
----------- -----------
Profit on ordinary activities 18,237 146,462
before taxation
Taxation - -
----------- -----------
Profit on ordinary activities after 18,237 146,462
taxation

Dividends - -
----------- -----------
Retained profit for the period 18,237 146,462

Retained profit brought forward 16,382 -
----------- -----------
Retained profit carried forward 34,619 146,462
=========== ===========

Profit on ordinary activities after
taxation per share - basic and 0.21p 322p
diluted

No separate statement of total recognised gains and losses has been presented as
all such gains and losses have been dealt with in the profit and loss account.

LANGBAR INTERNATIONAL LTD

BALANCE SHEET
As at 30 June 2005

As at 30 June 2005 As at 30 June 2004
#`000 #`000 #`000 #`000
Fixed assets
Tangible assets - 5
Investments 369,877 147,292
------- -------
369,877 147,297
Debtors - 154,484
Cash at bank and in hand - 897
----------- ----------
- 155,381

Creditors: Amounts (2,657) (12,675)
falling due within
one year

Net current assets 2,657 142,706
---------- ----------

Total assets less 367,220 290,003
current
liabilities

Creditors: Amounts (6,912) -
falling due after
more than one year
---------- ----------


Net assets 360,308 290,003
========== ==========

Capital and
reserves

Called up share capital 110 43
Share premium account 330,990 143,498
Revaluation reserve (5,411) -
Profit and loss account 34,619 146,462

----------- ----------
Shareholders` funds 360, 308 290,003
=========== ==========


LANGBAR INTERNATIONAL LTD

CASH FLOW STATEMENT
For the period ended 30 June 2005

Period ended Period ended
30 June 2005 30 June 2004
(unaudited) (unaudited)
#`000 #`000
Reconciliation of operating profit to
net cash flow from operating activities
Operating profit (12,673) 146,336
Depreciation 5 -
Decrease in debtors 177,679 (154,484)
Increase in creditors 3,217 12,675
---------- ------------
Net cash inflow from operating activities 168,228 4,527
========== ============
Cash flow statement
Net cash inflow from operating activities 168,228 4,527
Returns on investments and servicing 30,910 126
of finance
Capital expenditure and financial investment(368,859) (147,297)
Acquisitions and disposals (1,016) -
---------- ------------
(170,737) (142,644)
Financing 170,423 143,541
---------- ------------
(314) 897
========== ============
Reconciliation of net cash flow to
movement in net debt

Decrease in cash in the period (314) 897
Net funds at 1 January 2005 20 -
---------- ------------
Net debt at 30 June 2005 (294) 897
========== ============


NOTES TO THE ACCOUNTS

1. General Information about the Company

The Company was incorporated in Bermuda on 4 June 2003. The Company intended to
establish itself as a diversified holding company providing management and other
services to companies in which it would hold substantial interests.

Langbar`s primary objective is to create value for its shareholders by making
investments in publicly traded companies in which it can assume an active role
and have significant influence over the management and strategic direction of
such companies.

The Company has its registered office in Bermuda and representative office in
Lugano in Switzerland.

2. Accounting policies

Accounting convention

The financial statements are prepared under the historical cost convention.

Finance costs

Finance costs of debt and non-equity shares are recognised in the profit and
loss account over the term of such instruments at a constant rate on the
carrying amount.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated
into sterling at the rate of exchange ruling at the accounting date.
Transactions in foreign currencies are recorded at the date of the transaction.
All exchange differences are taken to the profit and loss account.

Investments

Long term investments are described as participating interests and are
classified as fixed assets. Short term investments are classified as current
assets.

Participating interests are stated at cost in the company balance sheet. Other
investments listed on a recognised stock exchange are valued at the lower of
cost and mid-market value at the balance sheet date. Unlisted investments are
stated at cost. Provision is made for any impairment in the value of
investments.

Other financial instruments

The other current asset financial instruments or term debt supported by such
instruments are stated at the lower of cost and net realizable value.

Revenues

All net income arising from the disposal of assets held as investments is
treated as revenues.

Copies of the statement are available from the offices of:

Bankside Consultants Limited, 1, Frederick`s Place, London EC2R 8AE



zitat ende vom 30.09.2005

[Dao.Di]

DIESE MELDUNG IST NICHTS BESONDERES;DESHALB MEIN RAT FINGER WEG.....:O

[schoenrain]

[posting]18.090.699 von Dao.Di am 30.09.05 11:23:30[/posting]dein zitat!

DIESE MELDUNG IST NICHTS BESONDERES

zitat ende!

begründe doch mal deine behauptung! also der aktuelle wert der aktie liegt bei 205p und davon sind wir wohl weit entfernt! hier wurde in den letzten monaten einiges bewegt!
und bisher alle vorankündigungen eingehalten!

testierte zahlen wurden auch im mai 2005 vorgelegt und somit kann es wohl keine "nullnummer" sein, oder?

man liest sich!

[pblack]

Langbar set for huge property deal
But Real Affinity has to be dealt with first
Eric Barkas
City Editor
LANGBAR INTERNATIONAL, the investment company, expects to seal a $200m property acquisition by the end of November.
The deal should have been the showpiece when Langbar reported interim results yesterday. In the event, the show was stolen by the company`s first corporate acquisition – the more modest £2.6m in shares agreed for Real Affinity, the Bradford-based marketing company.
The Real Affinity deal was flagged up in Friday`s Business Post. Stuart Pearson, who runs Langbar out of Leeds, has bigger fish to fry.
The property deal is likely to be in Portugal or Spain and will involve a 150-acre site including commercial and residential property, hotels and a golf course. There`s a limit to what Mr Pearson can say, given that regulators have told him to get Real Affinity sorted before he can move on to the next announcement.
If you look at Langbar you need a degree in corporate finance, such is the complexity of the history.
It all began with Crown, an investment company incorporated in Bermuda for tax reasons. Crown had a lot of big plans but never did a big deal. Instead, it spent money chasing deals that never came off.
But it did have some cash. Mr Pearson, a former Baker Tilley accountant in Leeds, says he was invited on board, injected some of his own corporate boutique interests, and ended up as chief executive. He changed the name to Langbar.
The company`s strategy is to invest in small businesses, help them to grow then spin them off. There are several current investments, of which Real Affinity is potentially the biggest.
Langbar is paying for the Bradford company in shares in a deal worth some £2.6m. Mr Pearson says Real Affinity management had lined up several potential acquisitions but was previously prevented from following through by the small size and even smaller share price of the company.
He says with Langbar`s financial muscle he expects to make an acquisition within the next month which will double Real Affinity`s size. A second purchase is pending before Christmas. Real Affinity floated on the Aim market in 2001, specialising in direct and web-based marketing.
Failure to integrate acquisitions and lack of financial controls sent it into the red. Full year results out yesterday showed the deficit to be £2m before tax but after exceptional costs of around £1m.
The headcount has been halved to 60. The head office is now a more modest building. Yet the company has a raft of impressive clients – almost all of them FTSE 100 or big international players like Tesco and VW/Audi.
Under Langbar, Real Affinity will de-list. Mr Pearson says he expects management to grow the business quickly. Then Langbar will spin it off back to the public domain.
"What we`ve really given it is the currency to go out and build this business."
So what of Langbar? It keeps its Bermuda registration as a legacy of Crown but the operations end is in Yorkshire. It has some £360m of cash, mainly inherited from Crown. Included in that is around £160m recently repatriated from Brazil. Crown raised share money there and had PFI contracts. There`s another £190m still to be repatriated.
Hence the property deals. Brazil has long-standing relations with Portugal and, because of its proximity and influence, Spain. If Mr Pearson can`t get the physical cash out, he`ll get it by asset transfer to property. His plan is that Langbar will end up with a marketing company and a property company to spin off. Add to that a third company he won`t talk about but on which he is is prepared to spend $250m of Brazil money.
In the end, the ambition is modest. Langbar shareholders will have shares in three companies and Langbar itself will revert to being Mr Pearson`s little boutique.
Langbar`s half year figures yesterday showed taxable profits of £18.2m. The comparative period showed £146.5m but was influenced by one-off contracts in South America bought and sold by Crown.
[e-mail]
01 October 2005
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[DerKleine_Prinz]

Hallo Jungs,
endlich melde auch ich mich mal wieder zu Wort und gebe einen kurzen Kommentar zu der aktuellen Entwicklung ab.

Ich habe diesen Beitrag bewußt noch einmal in iesen Thread gestellt, da im Hauptthread so viel geschrieben wird, das dieser Beitrag wohl schon heute Abend warscheinlich nicht mehr auffindbar ist. Zur Diskussion schlage ich vor, wieder in den Hauptthread zu wechseln

Meine Ankündigungen zwecks der diversen Meldungen haben sich bestätigt und sind in der Form veröffentlicht worden, wie ich es angekündigt hatte (Wenn auch eine Woche später, als ich es ursprünglich erwartet hatte).

Ein Großteil des in Brasilien festgesetzen Geldes ist nun fungibel geworden und wird nun succesive in wohl lukrative Anlageformen investiert. Real Affinity war hier nun der Anfang in einer Reihe diverser Investments, die nun nacheinander eingefädelt werden. Der kurz bevorstehende Erwerb eines größeren Immobilienanlage-Objektes auf der Iberischen Halbinsel dürfte euch ja auch schon hnlänglich bekannt sein. Es sind aber auch noch weitere Investments in der Pipeline, die aber noch nicht veröffentlicht wurden.

Die Kursentwcklung hat nicht ganz meinen Vorstellungen entsprochen, darauf habe ich schließlich auch keinen Einfluß, hierfür zuständig ist der Markt und das Verhalten der diversen Marktteilnehmer.

Was ist da geschehen bzw was wird hier noch geschehen?

Diverse Hedgefonds haben Crown bzw jetzt Langbar entdeckt und sorgen für ein ultimativ hohes Transaktionsvolumen in London. Daraus resultierend wird dort auch der Kurs gemacht. Es scheint, das wohl auch die Hedgefonds für die stagnierende Kursentwicklung verantwortlich sind. Eine Bewertung des Inneren Wertes der Aktie erübrigt sich ja aktuell, der Wert ist bekannt und liegt weiterhin deutlich über dem doppelten Kurswert. Ich persönlich gehe immer noch davon aus, das mein angekündigtes Kursziel von 2,30 Euro dieses Jahr mit Sicherheit noch erreicht wird. Spätestens Mitte/Ende Oktober wird es wohl wieder diverse Informationen und Nachrichten geben, die den Kurs auf seinem Weg nach oben die Richtigen Impulse geben werden. Spätestens wenn die Hedgefonds " fertig" haben, dürfte eine deutliche Kurskorrektur angesagt sein.

Solltet Ihr weitere Fragen haben, dann stellt sie einfach im Haupttread!

Euer kleiner Prinz!

[DerKleine_Prinz]

QUELLE: http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNew…



Regulatory Announcement

Go to market news section

Company GARTMORE INVESTMENT MANAGEMENT PLC
TIDM
Headline Rule 8.3 - Langbar International plc
Released 09:51 06-Oct-05
Number PRNUK-0610



FORM 8.3

DEALINGS BY PERSONS WHO OWN OR CONTROL 1% OR MORE OF ANY CLASS OF RELEVANT
SECURITY

(Rule 8.3 of The City Code on Takeovers and Mergers)

Name of purchaser Gartmore Investment Management plc

Company dealt in Langbar International plc

Relevant security dealt in Ordinary EUR0.001

If a connected EFM, name of
offeree with which connected

If a connected EFM, nature of
connection

Date of dealing 5th October 2005

DEALINGS

Amount bought Price per unit (currency must be stated)

1,313,854 £0.59

400,000 £0.60

Amount sold Price per unit (currency must be stated)


Resultant total amount and 2,163,854 (1.25%)
percentage of the same relevant
security owned or controlled

IS A SUPPLEMENTAL FORM 8 (DERIVATIVE)/FORM 8 (OPTION) ATTACHED? NO

Date of disclosure 6th October 2005

Contact name Elizabeth Friedman

Telephone number 020 7782 2843

For details of the Code`s dealing disclosure requirements, see Rule 8 and its
Notes which can be viewed on the Takeover Panel`s website at
www.thetakeoverpanel.org.uk.


END







London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.

©2005 London Stock Exchange plc. All rights reserved

[DerKleine_Prinz]

...zur aktuellen Situation ein Artikel der Financial Times, der so im ADVFN Board hinterlegt ist:

Interim report
By David Blackwell
Published: October 14 2005 03:00 | Last updated: October 14 2005 03:00

The interim report and account shows that Langbar earned £30.9m in interest for the six months to June 30. Pre-tax profit was £18.2m after administrative expenses of £12.7m and earnings per share of 21p.

The comparable figures for Crown for the whole of 2004 was profit of £146.5m following the sale of the construction contracts in Argentina. Earnings per share were 322p.

In a few months, Mr Pearson has accomplished quite a lot. The company changed its named to Langbar International after acquiring Mr Pearson`s advisory company for 2m shares. It changed nominated adviser from Nabarro Wells to Arden Partners. At the same time, it raised £4m through placings at 48p, bringing in UK institutional investors. Since then, both Merrill Lynch and Gartmore have bought stakes.

About $290m has been moved from Banco do Brazil to ABN Amro in the Netherlands, pending an acquisition, probably in the financial services sector. The remaining $370m in Brazil has been earmarked for an asset swap into property in Spain and Portugal.

Mr Pearson`s plan is to spin off both the European acquisition and the property company, leaving his advisory company listed on Aim. A fortnight ago, Langbar agreed to acquire Real Affinity, an Aim-listed marketing services company, in an all-share deal valuing it at £2.6m.

He understood that Mr Rybak, who held about 30 per cent of the equity after waiving a dividend of more than €23m (£15.8m) for his founders shares last year, was supporting the plans.

But the fact that the company was in an offer period for Real Affinity compelled Mr Rybak to report his dealings in the company shares.

This week he announced that, so far this month, he has sold 4.2m shares at prices between 55.19p and 64.38p, raising £2.45m. The announcement also revealed that his total stake has fallen to 19.69 per cent.

Mr Rybak could not be contacted for comment this week. At the last annual meeting - held in Monaco in July - only one shareholder other than Mr Rybak was present.
(Da bin ja sogar ich in anononymisierter Weise erwähnt...)

Presumably a few more will be asking questions at the emergency shareholder meeting that must be held soon to approve the increase in share capital for the Real Affinity deal.

Meine Aussichten für nächste Woche: Alles wird gut!

[Claptoni]

[posting]18.090.534 von schoenrain am 30.09.05 11:09:54[/posting]

[schoenrain]

Result of investigation

RNS Number:6676U
Langbar International Limited
25 November 2005


Langbar International Limited (the " Company" )

On 12 October 2005 trading in the common shares of the Company was suspended on
AIM pending independent verification of certain of the assets of the Company at
a market capitalisation of approximately #87 million. Following the suspension
the Company appointed Kroll Associates UK Limited (" Kroll" ), the international
risk consulting firm, to undertake verification of the Company`s cash deposits
(" the relevant assets" ) with Banco do Brasil and ABN Amro BV aggregating some
#365 million.

#365 million of term cash deposits with Banco do Brasil were included in the
unaudited interim financial statements as at 30 June 2005 as investments. On 6
September 2005, it was announced that USD 294 million of the cash deposits had
been transferred to ABN Amro BV.

Kroll has reported to the Board that, following its initial investigations, it
appears likely that the Company has been subject to a serious fraud affecting
the relevant assets. Kroll has not been able to establish the existence of, nor
verify the Company`s entitlement to, any of the relevant assets at any time in
the Company`s history.

The Board has informed the police and other relevant authorities of the
circumstances and intends to co-operate to the fullest extent practicable in the
pursuit of those responsible for the events which appear to have occurred.
The Board has instructed the Company`s lawyers to explore every avenue available
for the recovery of its assets and to pursue vigorously any parties who may have
been involved in unlawful or improper activity in relation to the Company or its
assets. The Directors believe that the Company has sufficient cash reserves to
commence this action. The Board is not, however, able at this stage to give any
meaningful indication of the prospects for success or the likely timing of these
endeavours.

Due to the continuing uncertainties and investigations the Board consider that
for the time being the Company`s shares should remain suspended from trading on
AIM.

Subject to any applicable legal restrictions, the Board will, as appropriate,
make further announcements as to the progress of the investigations and the
actions being taken to recover the Company`s assets.

25 November 2005

Contacts:

Stuart Pearson, Langbar International Limited 0113 284 3838
Michael Padley, Bankside Consultants Limited 0207 367 8888

The Directors of Langbar International Limited, other than Jean-Pierre Regli,
accept responsibility for the information contained in this announcement. To the
best of the knowledge and belief of the Directors (who have taken all reasonable
care to ensure that such is the case), the information contained in this
announcement is in accordance with the facts and does not omit anything likely
to affect the import of such information.




um den thread auch aktuell zu halten!! hier die zwischenzeitlich sicher schon jeden bekannte nicht gerade erfreuliche meldung!

warten wir´s mal ab, wie es hier wohl weitergehen wird!
lambert gibt es ja nach wie vor und vermögen ist dort vorhanden!
vielleicht müssen sie nun bares vorlegen, den die deals sind alle in einem vertrag hinterlegt und der vertrag wurde seitens lambert ja wohl nicht erfüllt, wer sagt den das sie nicht dann eben auf druck oder gerichtlicher verfügung nun doch ihre verpflichtungen (zahlungen) erfüllen müssen, sollte dies dann doch geschehen, ist ja wieder alles im lot!
also noch ist nicht alles aussichtslos!

man liest sich!