Financial report for LEM:CAPX: 2Q2012

LEM ended the second quarter 2012 with a net profit of 321'937 $L (149'760) . The overall value of our portfolio (NAV),evaluated at purchase prices, increased to 0.98 (0.64) $L/share. Dividend will be distributed on 3rd July 2012.

The detailed financial report is given here.

Shareholder’s equity: 1'976'474 (1'153'000) $L
Net Profit: 321'937 (149'760) $L
Dividend: 90'000 (50’000) $L + extra dividend 30'000 $L (0 $L)
2’000’000 shares, nominative value: 0.5 $L
NAV: 0.98 (0.64) $L
----------------------- Figures in ( ) of last month

LEM continued to build up its portfolio and but an emphasis on risk management. We started to limit our participation in EVO where no news are available. Also we still believe in the potential that this company might have. However, the way the company is communicating doesn't match to our standard Lemurian rules. We will follow their development during the last quarter and then take a decision. During the 2Q2012 EVO generated for us a loss of 17'000 $L which had an impact on our profit.

The SPO which we concluded successfully during the last quarter allowed us to invest in some interesting new projects, among them BOOT but also EARN. We hope that those investments will be benefically for LEM in the future. On the other hand we slightly reduced our participation in ADV. As long as the reason for the PSO to Anshe Chun over 2 mio shares is not clear and the deal which was made or will be made, or even a statement of Anshe herself exist about this investment, we will stay on the side line.

Our revenues experienced again an increase through the second quarter of 2012. However such was again related to extraordinary consultancy work in the field of business strategy management which continued an unexpected manner. We cannot guarantee that such will continue also we are looking actively for alternatives. To express the extraordinary character of those revenus we decided to distribute not only a dividend but an additional bonus of 30'000 $L. In other words a total dividend of 120'000 $L will be distributed for the 2Q12.

At the moment we don't see new investment we could do at CAPX and we are already exposed quite massivley in different positions. The next quarter will see us be more cautious, secure certain positions and continue to build up a safe cash position. Not used captial will be distributed as dividends. As a consequence you probably will see our pay out ratio for dividends increase during the next quarter. As long as no other investment opportunities would come up. 

Again we hope to see this consultancy business growing but if we say extraordinary revenu we mean extraordinary revenu … and yes, we are still dreaming of creating derivatives at CAPX... what last long... may be somebody can complete here...lol ...

Dividend will be distributed on 3nd July 2012.

Thank you again for your confidence….If you have further questions, don’t hesitate to contact us.

Happy trading to all of you at CAPX....

Greetz
Casper Trebuchet
http://lemurinvest.blogspot.com