Been trying to contact the Landkom International FD (John Mapplebeck) today. He hasn't returned my call, so unable to shed light on the mystery about the RNS (7th September 2011) - re. the figures that don't add up - see diy-investors.com videocast for details.
Will provide an update when I hear...
Regards, Mick.
Monday, 12 September 2011
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Landkom is a dead duck I'm afraid. Apart from the cock up that the original management made, they now have a Ukrainian at the helm, and who knows who he is working for...probably himself. Also, land rents are expected to more than double as the result of the Ukrainian government raising the land valuations by 1.7 times the current value, as of 1 January 2012. Also, one major original selling point of Landkom's was the opportunity to freehold the farmed land in the future. The new government has recently made it clear that only Ukrainian natural citizens will be able to buy (this also discounts Ukrainian corporate entities). All of the above does not bode well for the suffering Landkom investors. I'm glad I am not one of them.
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