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Amberley - 50%+ upside; minimal downside? (AMB)

Amberley Grp. Share Forum

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Creator ianreid Created 13 Apr 2003 Posts 94 Last Post 12 years ago
Anyone taken a look at Amberley (AMB)? It' has drifted back since paying the 10p divi and looks very attractive IMHO.

Basic summary is that they are looking to wind-up or RTO.
Have NAV of 17p+ with about 4.25p of that in a freehold property in Hull which is up for sale and some cash due in May from an earlier sale.

Have already done a tender offer and a 10p divi recently and seem to be doing a good job of tidying up.

Potential downsides:
1. Can't sell property - unlikely, although selling quickly may mean less return
2. Debtor doesn't pay up - no sign of that
3. Naf RTO - hopefully unlikely given JO Hambro own 29.9% (I think - from last SAR)

Can buy at 11p- (I bought more at 10.75p on Friday)

Looks like a very good cash play to me.
I own 100k.
DYOR etc etc
I'd appreciate any thoughts.

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