PORTFOLIO UPDATE:
On its website, LDP has now listed the private and public holdings:
londonpacific.com
In my view, this is the company's response to Regulation FD as well as expressed concerns of shareholders to make the company more transparent.
Regulation FD is not effective until sometime in October, so it is nice to see the company make this information available to all investors now, especially since the company will most likely present this information to institutional investors on Monday.
Nice going LDP in considering the retail shareholder.
Here are the changes:
BRCM: no change
CNSW: omitted
EXTN: reduced by 185,435 shares
GSPN: increased by 11,008 shares and added escrow shares of 38,220
HYBR: omitted
NETP: reduced by 311,036
NUFO: no change
PKTR: reduced by 91,769
RAMP: omitted
SABA: reduced by 175,133
SEBL: no change
VINA: no change
VTSS: added 15 shares
Bottom line, the changes reduce the value of the SI Portfolio by approx. $29 million from the close Friday, which close included HYBR, CNSW, and RAMP.
CNSW and HYBR are omitted because the CNSW cost basis is much higher than in the portfolio. HYBR could be converted for a profit and in fact the company defaulted when it exceeded the capital spending provision. I don't know the details of the CNSW position so both are simply omitted to reduce confusion, which unfortunately was already present anyway.
As before, escrow shares and definitive deals not yet closed are in the portfolio for tracking purposes.
If anyone sees an error, please comment. |
