Metro Baltic Horizons ( revisited ).

The Company was established in 2006 to invest in and develop a portfolio of high quality property assets spread across the Baltic States with a focus on prime office, residential and retail development and investment opportunities. As a matter of current record and fact the current Investment Policy is as defined in more detail below. However the Company's predominant assets and activities are cash and litigation against the former Board and advisers. With the completion of the sale of the last remaining property the Company would consider in fulfilment of its on-going obligation to AIM a revised investment policy. In the first instance the Board is however considering the de-listing of the shares which would pre-empt such a revised Investment policy statement and approval. In the event the listing is preserved the Board will propose a revised Investment Policy.

The Group has significant accumulated tax deductible losses which are available for offset against future taxable profits. No deferred tax has been recognised in respect of these losses on the basis that there is uncertainty as to whether or not there will be suitable taxable profits against which these losses can be utilised.
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    In my opinion ,

       Cash value £6.8 million ( we will not consider the paid off loan of £2 million ).
This means the current share price should be exactly 25.6p (not far from the 23.81p spike in april ).

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The future,

               Will Ronan delist ? Post legal case ?
 This share has good value as a shell company ,with plenty of deferred tax liability going forward.
One assumes the delisting will happen post legal , although not a certainty .By that time we will all have broad smiles on our faces .
  I personally think someone out there will recognise the value of the shell ( antisoma et al ). But , in reality that`s a fifty fifty call .
  Well done Brendan, Ronan and Sir P and others concerned . The scales have turned in our favour . At last .

    Happy trading and may your Prophet go with you