Vmoto: Land and Buildings., page-39

For those seriously seeking knowledge and a better understanding of what's on offer for $54.4 m at current market price.

VMT had net tangible assets at 30/12/2023 of $76.7M and an unbooked asset revaluation reserve for land and buildings of circa $20m for a total of circa $97m.

So today you can buy a small part of the land, buildings and a pile of inventory and cash for half price and get a small part of a free business that has cost hundreds of millions developing products ,its brand and its world wide distribution net work.

That's not some dud business it's a business that has

*won no 1 seller awards in Europe
* doubled its profits annually through some pretty bad times
* formed associations with leading worldwide brands and Moto GP teams and their champions..



The boring detail.

It seems Mr Lumin has put the no value argument firmly to rest after reaching a conclusion based on accepted practice around the world. That "The "right to use" shall be automatically renewed upon expiration"

"And this is the link from the references: https://www.lehmanlaw.com/resource-centre/laws-and-regulations/general/property-rights-law-of-the-peoples-republic-of-china.html

F) If the Chinese powers need the land, they will take it back and compensate us"


The summary of what the factories replacement values are.

Based on the cost of the land and buildings and an estimate of Professional Fees, Holding costs during constructions ,Corporate and administration costs each factory would have a replacement value of circa $20m On completion the two factories will be worth circa $35m to $40m

Factory 1 was revalued in 2019


N.B. "Excludes" the valuation increase was never bought onto the accounts

Cost to complete Factory 2 at 30/12/23 was $10.5m

Land and buildings in the 2023 Annual report were valued at $8.8M so there is an unbooked revaluation reserve of circa $20m