COMMERCIAL GROUP PROPERTIES AND CHINA GATEWAY

Well, CGP has published its statement for period ending Nov 2008. You can read the detail at :

http://www.commercialgroupproperties.plc.uk/announcements_charimans_statement.htm .

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As I suspected, Wigan is looking distinctly cold at the moment and Dover is even colder. That leaves China Gateway at Manston Business Park as the main hope for better times. CGP are very up-beat about an MOU with UNIDO Investment and Technology Promotion Office (ITPO) though quite what this means is beyond me.

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Robin Bolton, CGP Chairman (LH pic) is quite honest and states, " The Company requires financial support in order to continue as a going concern." It will not be surprising to read further and find that their main banker, The Israel Discount Bank has lent CGP another £1.7 million and the debt is now up from £28.5 million to £30.2 million. The good news for CGP is that they now have until 31 May 2010 to repay it as opposed to November this year. This gives them the opportunity to get their hands on Chinese cash before hand!

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Robin Bolton also tells us that the start of development at Manston will not start as originally planned in Oct 2009 but will now start in the first half of 2010. This has to be good news for the Robertsons of Alland Grange, who have an oil-seed rape crop ripening at the moment on CGP land. If they get their act together, they could squeeze in a 'cash-crop' of purple -sprouting brocolli after the oil-seed rape crop; such is the versatility of Thanet's prime agricultural land that is about to be covered in concrete.

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CGP's share price has settled back to 20p today and it is interesting to see that Director Chris Seymour -Prosser (lower RH pic) seems to have transferred 50,000 ordinary shares at 'nil' consideration to Julie Wing (a fellow director and partner of Ken Wills). In addition, the biggest move of shares since 'Strife' has been watching CGP seems to be delayed. Share sites report that an ordinary share transaction of 295,000 shares at 23p, worth £67,850, on 29th May has been

delayed. Bertie, has got no clue what this means but, this is the biggest sale of CGP shares seen since an interest in CGP began last year. Can any readers explain what this means?

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Whilst Robin Bolton gives effusive praise to SEEDA et al and includes TDC for being such helpful co-operative chaps, what is EKO LLP upto and how much scarce CGP cash has been given to help pay for Sandy's 'Big Event' in Palm Bay later this month as CGP's logo appears on publicity blurb for this year's event again.

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At least there is no live Planning Application in the system this year, is there?