There was: 1,098, 408,723 in excess capital, this compared to 1,871, 740,241 last month, this is a graduated fall due to the following reasons:
- The Eve stock market is in freefall… More stocks lost value and several closed (.D.B. Dusk Blade and FIN-U). There is large concern over Ionia’s continued disappearance (6LTD, FRPB and LMTA) and FIN’s statement that they have not been able to get the two missing trustees to liquidate FIN;
- There was 30% of the fund not paying dividends this month, the stocks not paying out this month include: 6LTD; AATP; BMBE; FIN; FRPB; T2AHL; TCCS; and Zero. In short the eve stock market is not working and the fund is finding it difficult to find functioning stocks; and
- EMFI will continue to re-valued the portfolio to try and reduce the NAV of these stocks in the medium term. EMFI have reduced FRPB and 6LTD by a quarter…and have taken a 2.75 billion hit…this will be repeated over the next two months to gradually reduce exposure to these stocks whilst trying to maintain dividends for investors.
Scam reserves have been released to cover the value reduction in major stocks as well
The dividends were distributed as follows:
* 933,647,415 paid out in dividends
* 27,460,218 for Fund Management duties;
* the wage bill of 27,460,218 will be reinvested in the corporation as the trustees have not been seen for a month or two, EMFI will start a new employee and trustee recruitment process to avoid the problems that occurred at FIN
* 109,840,872 retained capital (as hedge against scams) will be invested in new stock to try and raise dividend income.
Three stocks are closing and need to settle their debt: C-R-H; FIN-U; and SHMEC; and
New stocks invested in: BSAMR
Dividend income should have increased this month but dividends have not been paid by: 6LTD; AATP; BMBE; C-R-H; FIN; FRPB; T2AHL; TCCS; and Zero.
“LARGE WRITE OFFS are expected in the future”
This is an income shortfall of approximately 1.8 billion on top of the shortfall of 2,588,629,038 for last two months… at 4.4 billion lost dividend income this is a HUGE shortfall…and could potentially destroy the share market place…in effect there is no enforcement, or sanction system in the stock market at present…
So a final dividend of:
* 93.36 isk per share, a fall from 159.1 isk per share last month, but above the market average at present, as so many stocks are not paying out (6LTD, AATP, FIN, FRPB, Zero. etc)... the market is in free fall and EMFI call on the CEOs of these corporations to help stock the freefall and resume paying dividends/liquidate the corps responsibly to help clean the market up. All the best, Ghost Emperor.
Click the image below to review our current portfolio: