Amberley Grp. Share Discussion Threads

[gelp] 03/6/2003 17:29

Same chairman as ITK which has done very nicely last few weeks.
Looks a simple undervalued play to me.
Acorn Investment Trust also looks good. Any other tips?

[azalea] 02/6/2003 20:40

Hmmn, looks interesting - moving up 10% today. Looks like something is brewing -perhaps a reverse takeover is finally being firmed up and/or a further handing back of more cash to investors, is in the offing.

[siraj78] 29/5/2003 22:06

LOOK NICE TO BUY

[azalea] 29/5/2003 18:21

An interesting series of trades this month 'buys' significantly outweighing the 'sells' in both numbers and overall volume, which I assume is the contributing factor to today's 6.5% rise, after a relatively long and stagnant pause. Hopefull J O Hambro is working hard to do something with its 29.9% stake.

[humptypumpty] 27/4/2003 13:18

Just looking at a few investment possibilities - I agree that there's very little downside here - a good prospect

[ianreid] 13/4/2003 08:41

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.

[azalea] 05/3/2003 18:19

Post XD, it's all about the J O hambro stake. They did not buy back in to the tune of 7 million plus at not less than than 22p, for nothing! Its simply a question of sitting tight on this one. Eventually it will pay off.

[deltrotter] 05/3/2003 11:33

That Tiltonboy.

I think I will take a stake.

Cheers

Del

[tiltonboy] 05/3/2003 11:30

del,

I have been buying these steadily over the last couple of months for PEP's and Isa's looking for a total return of between 24/27p.(pre dividend)

11.1p of this is the grossed up dividend, and the balance from further disposals. I have seen the two properties they are looking to sell, but I am not a property expert and can't form a judgement on whether they will achieve their book costs, but they appear to be in a "buoyant" area of Hull, by the docks. If the properties can be sold near to book value, and the balance of the cash from previous disposals comes in to plan, then we could be looking at a figure close to the top end of my range.

What happens next is the defining matter on whether the shares are worth buying or not.

The company have stated that they are looking at returning cash, completing a reversal, or a mixture of both. I would not be too happy if they found a straight reversal, as I have seen Firth Holdings turn 7.1p of cash into 4.8p of paper in another company(was as low as 2.5p at one stage). I am comforted on this front by the fact that Hambro's have 29.9%, and I believe they would wish to see further capital repayments.

My favoured option is one that TLO appear to be taking at the moment. They will be paying out the majority of the cash to shareholders AND undertaking a reversal. If this was to happen at AMB then we could see a price of close to, if not above 17p from here.

All IMHO and always DYOR.

tiltonboy

[harrycash] 05/3/2003 10:57

see the big drop result of going ex-div, thanks for the explanation willo; have to wonder what they are now worth in respect of cash, property etc.?? see they reduced losses at last results but where are they going now;

[deltrotter] 05/3/2003 10:47

So, after today, am I correct in suggesting that the co:

a) Have net assets worth 17.4p per share
b) Are looking at ways at getting this back to shareholders
c) Are also considering a number of reverse-in opportunities.

If so, what price would posters on this stock? A difficult one I know.

Cheers

Del

[willo] 05/3/2003 10:37

Dividend is paid to those on the register on 7 March - if you deal today, standard settlement is T+2 - on this basis, your name will not appear on the register until the 8 March. I hope this explains.

Your broker may be able to arrange T+1 - if he can, you will probably find that you will have to pay an additional 10p per share for the privilege.

[sportbilly1] 05/3/2003 09:43

Please also explain this line, from the interim results:

"The Directors have declared an interim dividend of 10p per share payable on 7
April 2003 to shareholders on the register on 7 March 2003." ??

[sportbilly1] 05/3/2003 09:32

tilton,

if that is the case, please explain the difference between an ex-div date and a record date ??

[deltrotter] 05/3/2003 09:11

Still, doesn't look a bad stock to buy into at this price. Especially if you can tuck it into an ISA.

Cheers

Del

[tiltonboy] 05/3/2003 09:09

sportbilly,

Sorry to say it, but you are incorrect. Anyone purchasing the shares today will not get the dividend.

tiltonboy

[sportbilly1] 05/3/2003 08:53

I am sure it is. The stock goes ex-div( hence the drop) and then the record date is when the list of holders is compiled.

Shares do work this way round, whereas funds do it on the same day.

[terry91] 05/3/2003 08:50

Why the 48% drop?

[nutsyboy] 05/3/2003 08:48

I was just about to ask that Sportbilly... Is that really true??

[sportbilly1] 05/3/2003 08:44

The actual record date is the 7th - so you can still by and claim the divi !!

[babble] 16/2/2003 23:40

Ahh... thank you for the quick - and very helpful - response!!!

[tiltonboy] 16/2/2003 23:17

babble,

The 10p dividend is included in debtors in the balance sheet, so the 17p of assets is after the dividend has been paid.

Hope this helps.

tiltonboy

[babble] 16/2/2003 23:09

OK - I've got some questions since I seem to be looking at the same co with different nos. to you lot.

Please correct me if I'm wrong - this co is winding itself up, and has £4m of assets left on its balance sheet (of which £1m is property and could be worth a little less or a little more).

It has proposed a 10p interim dividend for 7/3/3, which will cost about £2.3m (there being 23,461,439 shares in issue).

Basically the market cap is just over £5m, with £4m of assets to be paid out, so what people are basically buying here is a share in the premium someone will pay for the past tax loss if someone reverses into the co.

The net assets remaining are approx 17.4p, and that will be 7.4p after the divi (ignoring taxes).

Where do people get 27p from? Is someone here counting the divi twice? ;->

[ianreid] 03/2/2003 14:44

Basically, it looks to me like the market is discounting the property sale - about £1m or 4.25p per share. And that's all they have left to sell.

So the downside - write off the property and close the business (which they are in the process of doing and doing well as far as I can see) ... should get your money back (as long as you protect the divi from tax - see later)

Possible upsides - sale of property for an extra 4p+, reverse takeover for listing ... tax back on Divi (a further 1.1p) in an ISA.

So buy in your ISA for say 23p- for a return of say 27p+. (17.5%+) with 10p of that in two months and the rest pretty soon thereafter. Sounds good to me.

I just bought 15k@22.25p (mid) with a cheap (£12.50) live broker and a bit of pressure.

Good Luck.
Ian