In 2017 I considered the VNC (Verenigde Nederlandse Compagnie) N.V. too difficult to assess. It was an empty shell managed by Geert Schaaij with the help of Mountain Shield (Selwyn Duijvestijn).
The company took over a group of private companies set up by Mark Logtenberg in 2003. The first was called DGB -> De Groene Belangenbehartiger and trades in energy and sells solar panels, etc.
Now Geert Schaaij has left and sold all his shares. During the past years the share price has gone from 1 EUR to 3 EUR and now back to 92 cents. So Schaaij might have made some money.
The listed company is now called DGB -> Dutch Green Business Group N.V.
They lost money last year, especially in the first half of 2017. Apparently, mistakes were made in the energy market and money was needed to switch from Dutch GAAP to IFRS.
The founder/entrepreneur Logtenberg now owns 46% of the 7,5 million shares and seems to be running things (from behind the scenes) if I understand correctly. There are a number of businesses and total revenue was only EUR 27m in 2017. Total equity was EUR 9,2 which results in a Book Value per share of EUR 1,2 which is 33% above the current share price of 92 cents.
1/2 year results are expected in a little over a week on September 27th 2018.
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