3064 days ago
The supporters of the trainwreck IPO that is Lenigas Cuba (CUBA) argue that by clever acqusitions Jabba The Hutt will increase the NAV. Net assets currently stand at c 0.65p per share IF one assumes that £1 spent on acqusitions is worth £1. I would argue that it is not and shall demonstrate why below.
We can ignore the relatively small sums spent on buying dormant or near dormant companies from related parties such as Green Hair Services - that will not destroy much NAV, certainly not as much as the obscene drawings of directors and PLC costs. The biggest acqusition to date is in oil ( well hoped for oil) and that is where it is time to see if Leni-Maths is at play.
Lenigas Cuba makes the following comments
