If stock prices of listed peer companies fall, the unlisted ones also see erosion in value.If the market breadth is weak, overall prices will be low. All the financials aspects are taken into consideration," says Sandip Ginodia of Abhishek Securities."I bought OMDC (Orissa Minerals Development Company) shares for Rs 2.50 per share. OMDC, one of the oldest iron ore mining companies in India, was listed on the Bombay Stock Exchange (BSE) in August 2010.It made a stellar debut, hitting the 5 per cent upper circuit at Rs 20,475 per share. Though the company was listed all this while on the Calcutta Stock Exchange, trading did not take off due to stringent margin requirements.The Shelbourne Operating Partnerships also own a joint venture that owns 20 motel properties that are net leased to an affiliate of ACCOR S. Accordingly, the ACCOR Properties will not be transferred to the Liquidating Trusts since none of the Shelbourne Corporations owns any interest in the ACCOR Properties. Nevertheless, holders of beneficial interests in the Liquidating Trusts will continue to receive periodic reports under cover of Forms 10-K and 8-K. Compliance with the reporting obligations of the Exchange Act would place an unreasonable financial and administrative burden on the Liquidating Trusts and significantly reduce the amount of distributions to holders of beneficial interests.The Plans of Liquidation In August 2002, the Board of Directors of each of the Shelbourne Corporations adopted a Plan of Liquidation and directed that it be submitted to such corporation's stockholders for approval. The Commission or its staff has consistently accepted this position regarding the registration requirements of liquidating trusts. The cost of auditing annual financial statements and preparing and filing quarterly reports would further decrease the proceeds available for distribution."You must evaluate the company and decide the price you are willing to pay, considering that you may have to hold the shares for an extended period," says Mishra.To evaluate a company whose shares are not traded is tough.
(collectively "the Companies") Shelbourne I Liquidating Trust Shelbourne II Liquidating Trust Shelbourne III Liquidating Trust (collectively "the Liquidating Trusts") Incoming letter dated April 29, 2004 On the basis of the facts presented, this Division will not recommend enforcement action to the Commission if the Liquidating Trusts, in reliance on your opinion of counsel that the Liquidating Trusts are not the issuers of "equity securities" within the meaning of Section 12(g) of the Act, operate as described in your letter without compliance with the registration and reporting requirements of the Securities Exchange Act of 1934. We are writing on behalf of our clients, Shelbourne Properties I, Inc. ("Shelbourne II"), and Shelbourne Properties III, Inc.Neeraj Kajaria, owner of Kajaria Securities and Finance, bought shares of Raunaq International, an engineering contracting firm, six months ago for Rs 150 a share. The price to a large extent depends on how a company delivers in terms of earning per share, he adds.Now, here are a few tips to make the most out of such shares.The common stock of each of the Shelbourne Corporations is registered under Section 12(b) of the Exchange Act and listed on the American Stock Exchange (the "AMEX") and each of the Shelbourne Corporations has filed in a timely manner all periodic reports required by the Exchange Act. No certificates will be issued to represent the beneficial interests in the Liquidating Trusts and the beneficial interests will not be transferable (except in the limited circumstances described above). 20, 2002); MGI Properties, MGI Liquidating Trust, supra; JMB Income Properties, Ltd.Current Assets As of the date hereof, the Shelbourne I Operating Partnership owns a 50% interest in an office building in Seattle, Washington and holds a mortgage on a property owned by the Shelbourne II Operating Partnership; the Shelbourne II Operating Partnership owns a shopping center in Matthews, North Carolina, an office building in Richmond, Virginia, and a 50% interest in the same office building in Seattle, Washington in which the Shelbourne I Operating Partnership also owns a 50% interest; and the Shelbourne III Operating Partnership holds a mortgage on a property owned by the Shelbourne II Operating Partnership. The interests in this joint venture are beneficially owned by the holder of Class A Preferred Partnership Units in each of the Shelbourne Operating Partnerships. Due to the restriction on transfer, there is no market for the beneficial interests and, consequently, no need for the general public to have the type of information about the Liquidating Trusts required by Section 13 of the Exchange Act or the proxy rules. 26, 2003), PLM Growth Fund III, Liquidating Trust (Pub. June 9, 2003), Burnham Pacific Properties, Inc., BPP Liquidating Trust, supra; Marriott Residence Inn II Limited Partnership (Pub. May 8, 2002); Marriott Residence Inn Limited Partnership (Pub. -XIII, supra; VHA Enterprises, Inc., supra; Grubb & Ellis Realty Income Trust Liquidating Trust, supra; Federated Natural Resources Corp., supra; and Invest-Tex, Inc., supra."I always buy with a 5-10 year horizon and go for companies expected to list on exchanges," he says."Sometimes you get good companies at low rates if you compare their earnings per share with their listed counterparts," says Kajaria of Kajaria Securities.