Ashley House Share Discussion Threads

[topvest] 26/1/2016 07:54

Strong results. Sting in the tail regarding the Housing Benefit issue that needs resolution before the other schemes can progress. Sounds like the traffic lights are on amber until this decision is made in March. No mention of the planning permissions recently obtained, so looks like these schemes won't get on site until next year. Unusual dual listing on PLUS. Overall, it looks positive given that the expensive debt wasn't repaid by the 31 October. Happy to hold.

[masurenguy] 26/1/2016 07:40

RNS Number : 9450M
Ashley House PLC
26 January 2016

Interim Report 2015

Ashley House plc ("Ashley House" or the "Company"), the Extra Care Housing and Health Property partner today announces its interim results for the six months ended 31 October 2015.

Highlights

• Company returns to profit for the six months to 31 October 2015.

• Funding & Partnering Agreement signed with Funding Affordable Homes (FAH) with first two schemes on site and funded.

• Delivery underway of Extra Care pipeline which currently stands at £158m.

• Challenges remain around new Government policy on capping Housing Benefit. Extra Care accommodation is much needed and expected to be exempted. Government announcements are expected in the coming weeks.

• Four schemes currently on site (2014: four).

• Total forward pipeline, on-site or appointed of scheme value yet to be recognised of £186.7m on 32 schemes (January 2015: 31 schemes £175.2m).

Six months ended 31 October 2015

• Revenue significantly increased to £10.6m (2014: £5.6m).

• EBITDA of £0.6m (2014: loss of £1.2m).

• Profit before taxation £0.2m (2014: loss of £1.9m).

• Net debt £2.6m (2014: £2.2m).

• £10.7m of tax losses to be carried forward (2014: £8.2m).

"Risks remain but the Extra Care model is strong and the lack of suitable housing in the UK together with the ageing population means this is a sustainable, growing market. The Board remains confident that the Company will be profitable for the full year subject to the timing risk on the next Extra Care developments which is affected by the awaited confirmation of Government policy." Christopher Lyons, Chairman

Outlook

The focus in the last few months has very much been on securing funding for our Extra Care pipeline and beginning to deliver that pipeline with both objectives being achieved. Risks remain but it is the Board's belief that once the Housing Benefit issue is resolved as expected, the Extra Care model is strong and the lack of suitable housing in the UK together with the ageing population means this is a sustainable, growing market. The business also continues to ensure that adequate finance is in place to invest in the pipeline and deliver sustainable growth and we now have confidence that this will be the case. The Board is pleased that the business returned to profit in the six months to 31 October 2015 and looks forward to the future with growing confidence.

[love it] 24/1/2016 18:49

nice post cottoner might get some more in the morning

[cottoner] 23/1/2016 17:15

Directors options - A realistic possibility or pie in the sky?

It was announced in November 2015 that director options would not be exercisable unless and until the Company's share price equals or exceeds 37p for a period of at least 90 consecutive days and upon exercise is at or above the 37p threshold.

Is it a realistic possibility that the shares can reach 37p and stay above that price for a least a 3 month period?

Well this certainly won't happen overnight.

At 9.5p the current MCAP is only £5.54M ,at 37p ,with the same number of shares (58.32 million) , the MCAP would be £21.5M.


The Director options announcement came after it was unveiled that the Funding Affording Homes (FAH) was to forward fund Extra Care Housing schemes.

This FAH partnership is key to ASH reaching and maintaining an share price of over 37p.

It was announced in Sep 2015 that Ashley House's Extra Care housing schemes pipeline currently stood at a revenue value of £149m over nineteen schemes.


IMO ,the reason to be optimistic about ASH and why the option price of 37p may at some point be reached is what seems to be happening in the background.

With a pipeline of 19 schemes, there must be quite a few currently going through the planning phase which will only come to light one by one as they are given planning approval.

Already in 2016 , ASH have been given 3 Extra Care schemes planning approvals, two in Leicester and One in Havant.

FAH only last week announced that they had received a further investment of £15m from Big Society capital and that they are aiming to invest over £100m in 2016 and £500m during the first three years of operation.

Thus ASH's partnership with FAH should allow their Extra Care pipeline of schemes to be increased somewhat over the next few years.

Also, the FAH announcement 'during the first three years of operation' implies that it will be going longer than that, which can only mean that ASH's pipeline of Extra Care schemes seems secure for some time.


On top of the FAH Extra Care schemes , there are also other avenues of Extra Care projects, in particular with the North Yorkshire County Council , where it was named last year as a framework partner to enable it to win contracts to work on the multi-million pound initiative to bring Extra Care accommodation to major towns in North Yorkshire.

All in all, there seems to be plenty reasons to be optimistic about ASH's future prospects and that may be a realistic possibility that the Directors will be able to exercise their options at some time in the not too distant future and perhaps it's not pie in the sky.

:-)

[love it] 23/1/2016 16:45

www.ashleyhouseplc.com/files/4814/5347/3038/Leicester_Independent_Living_Extra_Care_Homes_250116.pdf

[masurenguy] 23/1/2016 14:58

scroll down to the bottom of the link.

What link ?

[love it] 22/1/2016 20:32

This has been pointed out to me....very interesting

scroll down to the bottom of the link.

"Embargoed for Release at 9 AM, Monday, January 25, 2016"

[topvest] 22/1/2016 19:56

2 more schemes - this is definitely on the way to a strong recovery. Excellent news. Presume they get some revenue for achieving planning permission?

[qackers] 22/1/2016 15:41

No problem. Lets hope it works out

[love it] 22/1/2016 15:29

Just added 25k on that news thanks qackers

[qackers] 22/1/2016 15:05

Last week Hants. This week Leicester




Leicester Independent Living, a consortium set up to provide new ‘Extra Care’
homes in the city, has been granted planning permission to develop two new
schemes that will provide 155 purpose-built homes.
The consortium is being led by Ashley House plc – a company which
specialises in building this these types of homes – in partnership with
Leicester City Council.
Two schemes have been granted planning permission, at Hamelin Road, in
Braunstone, and Tilling Road, in Beaumont Leys. The homes will be made
available exclusively for vulnerable people in Leicester.
Jonathan Holmes, director of Ashley House plc, said: “We are delighted that
these important new and affordable extra care schemes in Leicester have
gained planning approval and are now moving towards construction”.
............

[love it] 20/1/2016 12:02

Shake of the day surely !

[casablanca4] 19/1/2016 22:14

The options, which have an exercise price of 9.75p (which was approved at the AGM) will not be exercisable unless and until the Company's share price equals or exceeds 37p for a period of at least 90 consecutive days and upon exercise is at or above the 37p threshold.

Hi Cottoner,
Is this a no brainer. i.e. a good company incentive to succeed. I am losing 50% at present and thought it was a lost cause until recently. Now I am tempted to buy a few more to lower my average.
Things look good, but but I am extremely wary of AIM investments now.
Good luck.

[cottoner] 19/1/2016 20:16

Reminder of Share Options rules announced in Nov 2015 :

The options, which have an exercise price of 9.75p (which was approved at the AGM) will not be exercisable unless and until the Company's share price equals or exceeds 37p for a period of at least 90 consecutive days and upon exercise is at or above the 37p threshold.

[qackers] 19/1/2016 13:41

Hopefully this is coming together. I wonder why they didnt RNS it. No finanials with it though.
Very much like the incentive scheme though.
Good luck everyone

[cottoner] 19/1/2016 13:09

From half -year results in Oct 2015.

Significant resource invested in driving Extra Care business
o Funding and Partnering Agreement now in place with a new strategic partner to develop out existing pipeline and drive new projects
o First Extra Care scheme in Grimsby delivered
o Pipeline of 19 schemes, on site (2) or appointed (17) with £149m of revenue anticipated to be recognised


Well , the pipeline is beginning to be seen out , another 3 Extra Care schemes passed planning permission in the last couple of weeks.

Obviously a lot more Extra Care schemes going through / to go through planning permissions etc.

[love it] 19/1/2016 08:23

Just added 15k. Must be a shake 105k buys then they drop on one 10k sale

[cottoner] 19/1/2016 06:48

Continuing from previous post

'Enzygo has now also secured planning consent for two further Ashley House plc schemes in Leicester.'




TWO AND THREE STOREY BUILDING CONTAINING 82 EXTRA CARE FLATS (CLASS C2) (77 X 1 BED, 5 X 2 BED) COMMUNAL FACILITIES, CAFÉ


Decision:Conditional approval
Meeting Date:
Decision Date:08/01/2016


and



THREE STOREY BUILDING CONTAINING 73 EXTRA CARE FLATS (69 X 1 BED FLATS; 4 X 2 BED) (CLASS C2); COMMUNAL FACILITIES; LANDSCAPING; ACCESS ROAD

Decision:Conditional approval
Meeting Date:05/01/2016
Decision Date:07/01/2016

[cottoner] 19/1/2016 06:43

Thanks Quackers,

That pointed me to a similar article



which includes

'Enzygo has now also secured planning consent for two further Ashley House plc schemes in Leicester.'

[casablanca4] 18/1/2016 23:51

qackers,

If this one comes together, could be my first share in profit in over a year.
(IF)
Company incentive scheme, the right thing. If you succeed you win; if you don't.
you don't.

thanks for link.
best luck..

[qackers] 18/1/2016 23:16

Press release today



Hampshire Living Space, a consortium led by extra care housing and health
property partner, Ashley House plc, has been granted Planning Approval by
Havant Borough Council for Hampshire’s first purpose-built Health and
Well-being campus, to be located at Oak Park, Havant.
The consortium will finance the design and build elements, which will be in
excess of £30m supported by a grant from Hampshire County Council.
Once complete, leading operators of housing and nursing care will manage
the schemes on a day-to-day basis, working in partnership with local Councils,
CCGs and the NHS, to ensure an integrated and joined up approach to care
and support.