Forest Sup. Share Discussion Threads

[topvest] 20/10/2010 21:29

No, I don't think so. Could take up to a year I suspect. Always takes a while in these situations. 0.6p or so to eventually come.

[davidosh] 20/10/2010 15:41

thanks topvest....mine has now been received in nominees too. Did they mention how long and what the last amount will be when everything has been settled?

[davidosh] 15/10/2010 20:17

Brilliant news....not heard from my broker yet but cannot be far behind...what was the first payment per share please ?

[topvest] 15/10/2010 19:39

It was earlier - cheque received today!

[topvest] 11/10/2010 13:20

No, but I suspect it's in a few weeks time, as there is a 21 day timetable on responding to shareholdings, and then I suspect it's 14 days or so after that. I would guess early to mid November, but could be earlier.

[davidosh] 11/10/2010 11:06

Has anyone heard a date that we are likely to see the cash return ?

[topvest] 18/9/2010 15:45

Letter received from Hazlewoods this week who have been appointed the liquidator.

First dividend (of 9p) to be received asap; i.e. in the next 5-6 weeks I suspect, as there is a 21 day response period on share holdings.

Final distribution likely to be marginally lower - £27,500 liability identified which will marginally reduce the proceeds. However, net surplus appears to be 9.6p / share which is marginally higher than the originally indicated 9.5p.

[topvest] 20/8/2010 10:10

Well I'm happy with the exit as I invested at 5.75p in March 2010, but I can understand that others will be less than delighted in the exit price which is quite low. The results for the year are actually quite good given the bad weather and contract delays.

A better return for shareholders might have been achieved imo, through returning the 9p or so (in a tax efficient way other than liquidation) and using the remaining listed vehicle as a cash shell. I suspect this won't happen now though.

[davidosh] 20/8/2010 09:29

I spoke to the chairman and gained some reassurance...He also promised to provide a final set of accounts on the website and an RNS has been issued today. I spoke to a number of the larger shareholders too. I doubt we would get enough support to vote it down even if we wanted to.

The business had a difficult second half due to the bad weather around Christmas and January. They probably lost 200k due to that and would certainly have otherwise had a superb year. It is not a wonderful exit price and would certainly have been higher without that slippage in result. I can live with it but certainly would not want management at all my small caps to be opportunistic in timing MBOs. I am currently expecting that possibility at three or four of my holdings with MUBL looking a dead cert.

[bigowl88] 20/8/2010 08:41

...we could always vote it down at the AGM ? ...

[davidosh] 16/8/2010 17:51

where are the accounts ?

Who is accepting a delisting and liquidation without seeing the accounts ?

What is the excuse for taking five months to get the accounts done whilst planning such a trick on behalf of management ?

Who is the independent director ?

[bigowl88] 10/6/2010 11:09

I am a holder .... the recent half-year results were good, and I reckon they could do revenue of around 8.5m for the full year .... at a conservative 27% gross margin that gives 2.29m of gross profit.

That implies earnings of 420k pre-tax and about 300k post tax putting the company on a PE of just over 4x for this year.

Additionally I have net-working capital at around 12.3p/shares, ignoring all LT fixed assets.

The combination of a large discount to net working capital and the growing earnings make this a bargain IMHO.

rgds

[topvest] 22/3/2010 21:45

Thanks - nice to have some company!

[davidosh] 22/3/2010 21:41

I cannot stand the thought of you talking to yourself on here. Just to let you know I hold a few though not the recent buyer. I have held for nearly three years and enjoy the dividends.

[topvest] 22/3/2010 20:51

Another couple of buys today - quiet on here though.

[topvest] 17/3/2010 19:00

Another buy - we have some interest!!

[topvest] 16/3/2010 21:50

Anyone else holding these?

[topvest] 12/3/2010 16:50

Bought a few today; at 50% of net asset value, looks good value.

[davidosh] 11/3/2010 14:00

There seems to be a constant seller. The yield at this level is over 7% so they must think results are going to be worse and the dividend likely to be cut or just desperate for the money or both. It has been a fairly steady performer albeit a microcap.

[davidosh] 12/11/2009 15:39

That was the one I thought it must be.

Did anyone go to the AGM ?

[nickcduk] 12/11/2009 14:43

Potentially interesting name on the shareholder register:-

Stephen Borley

A quick google search brings up:-



Could be the one and the same.

[rossco] 29/9/2009 19:09

Not a lot on plusmarkets.

[davidosh] 28/9/2009 22:58

Were there any trades today or just marked up by the MMs ?

[rossco] 28/9/2009 20:00

Excellent performance and dividend held as well.
Positive statement going forward.
This may be a small cap that comes good.