LEM:ISE ended January 2009 with a profit of 44'142 $L before dividend payment. NAV rose up to 1.65 $L/share. The dividend is set to be 0.015 $L/share and will be distributed today.
January was quite a good month which saw as using the currency exchanges to our profit and which contributed to our income significantly. As a company we are a bit worried about the consequences the purchase of Xstreet through LL might have on the currency exchanges. The one at Xstreet is operating with a spread which brings him much closer to "real" circumstances. However, it needs much more care and survey if someone wants to use it as a currency trader. If LL would suppress one of those it would have significant influences on our company strategy.
Most of the companies in our portfolio paid dividends which also contributed positively to our revenu. Two of those companies – DDE and RDX – announced already strong results for January. LEM is hoping that those announcements are already a sign that SL markets found finally a bottom and start to get bullish again.
Unfortunately we had to cancel the derivative LMLFDDE:ISE which passed successfully the IPO procedure. This happened because of risk and operational issues we couldn't neglect. However, the fact that there exists a mutual interest in such products makes us optimistic for further developments. We have already some products in mind which belong to a different risk category and help the holder to earn a steady income even in markets with low trading volums and large spread.
LEM:ISE is quite happy that RDX:ISE finally moved to ISE and could successfully list. It permitted LEM to recover some of its lost assets at WSE what we really appreciate- thank you Redux. The shares of RDX boost our NAV up to 1.65 $L. Right now we are not planning to buy back shares. However, we will use the market to keep an eye on the range in which LEM is traded.
The balance sheet and PL-sheet is given below
LEM
Our outlook for February is good. We cannot guarantee the level of income as it depends partly on the future of currency exchanges in SL. However, there are more dividends to expect from companies in our portfolio. More important, we will continue to develop derivatives and looking out for interesting investment possibilities inside SL. Also we are worried about the consequences of the Xstreet purchase of LL in relation to currency exchanges we globally think that the strategy changes in LL might have some positive future impact on SL in general and therefore in the end on the economy of SL as a whole.
But all who know me know that I’m a hopeless optimist…lol
Greetz
Casper Trebuchet
CEO, LEM:ISE
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