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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Basepoint | BNT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 14.75 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 14.75 | 14.75 |
| Top Posts |
|---|
Posted at 19/6/2005 11:39 by wiganer maybe they are a little more conservative with the valuations- if so, no bad thingbtw, any thoughts on the price dip this week? seems odd that someone would sell so close to divi date |
Posted at 26/5/2005 22:11 by topvest I'm still holding these. Bit disappointed about the small increase in NAV. Undervalued, good profitability and dividend, but surprised at the low revaluation uplift. |
Posted at 11/10/2004 22:29 by sandbank ...And I think BNT should get their act together and put out RNS announcements - like today's - at 7.00 am, not at lunchtime when no one notices them. |
Posted at 12/9/2004 17:46 by sandbank TOPVEST: Agreed. As it turns out BNT would have been a decent buy first thing on Friday morning - a way of getting some cash back out of what's been, for me anyway, a rather disappointing investment. |
Posted at 10/9/2004 12:40 by sandbank TOPVEST: Certainly hope you are right about the company coming back up. I'm not so sure about the "veiled profit warning". If you believe BNT's directors this problem at Farnham seems to have come upon them fairly suddenlyOn June 28th I could see the share price slipping and asked the company what was going on. David Boakes Director of Finance & Operations told me "I am not aware of any particular factor which is influencing the share price". On July 15th BNT's chairman Lord Lifford told the AGM "I believe that we are moving ahead satisfactorily with our strategy on all fronts and whilst uncertainty still exists on timing of new centre development contracts I am confident that prospects for the medium and longer term remain highly positive" The CEO Rob Cleaver says this is the first time they've lost a significant sum in pre-contract expenditure. They try to balance risk and cost but say that waiting until a contract is actually signed before before they spend any money is often just not practicable in many cases. On this occasion BNT considers it was let down at the worst point of cost exposure. Anyway the share price has recovered a bit today so hopefully the bad news is now history. |
Posted at 07/9/2004 22:59 by sandbank I think today's debacle is very much a personal kick in the teeth for the BNT CEO who'd had a lot to do with setting up the Fareham deal. When this gets aired again in the papers tomorrow morning it'll put more downward pressure on an already weak share price.Seems to me the management have brought this on themselves by writing big development cheques before having the title deeds to the land. They need a more professional approach rather thana "let's wing it and hope for the best" attitude. |
Posted at 07/9/2004 10:36 by mainsail This must make BNT vulnerable to takeover . It's got all the classic ingredients. A naff board, plenty of assets and a depressed share price. |
Posted at 07/9/2004 10:35 by sandbank RNS Number:6584CBasepoint PLC 07 September 2004 BASEPOINT PLC Breakdown of site acquisition negotiations Basepoint plc ("the Company") announces that the landowners of a site for the development of a new Managed Business, Innovation & Enterprise Centre ("MBEC") at Farnham have withdrawn from the site disposal at the final stage of documentation. This is expected to have a material impact on the results for the financial year to 28 February 2005. The Company has incurred considerable costs in the design and planning of this development and had already obtained a detailed planning consent. The building contract has also been tendered and a contractor selected for a scheduled start on site this month. The Company estimates that the loss of this development at such a late stage in the procurement process will impact on the results for the current financial year, with a one-off charge for abortive costs of #130,000. In addition to the substantial abortive costs charged in the six months to 31 August, there will be an associated loss of development revenue anticipated for the second half of the financial year amounting to #270,000. The Company does not anticipate any impact on current dividend levels. Elsewhere, work is progressing well on securing new contracts for the development of MBECs for Regional Development Agencies which, subject to confirmation, are currently expected to contribute to second half profits. However, the Company does not anticipate that it will be possible to accelerate work on our other, alternative private sector development proposals to replace Farnham or to benefit materially the current financial year. Robert Cleaver, Chief Executive, commented on the situation: "In seeking to develop new MBECs, we are always exposed to the risk of incurring abortive costs. That we have been successful in avoiding any such costs on all thirteen of the schemes developed to date demonstrates the level of expertise that exists within the Company, but does not alleviate our disappointment at the termination of the Farnham project at this late stage. We always seek to keep the Company's risk exposure to a minimum, but it is inevitable that we must commit costs to a scheme to investigate viability, environmental issues, planning and construction aspects whilst simultaneously seeking to reach agreement on the legal format for land acquisition, be it freehold or leasehold. In our experience losses of this nature are very rare and we will strive to ensure that any similar situation is avoided. Looking ahead we remain confident in our ability to deliver new, successful projects from our existing pipeline." Contacts for further information Robert Cleaver, Chief Executive Tel: 01962 842244 e-mail Robcleaver@basepoint David Boakes, Finance & Operations Tel: 01962 842244 e-mail davidboakes@basepoin Nicola Horton, Director Smith & Williamson Corporate Finance Ltd Tel: 0207 637 5377 e-mail nah@smith.williamson |
Posted at 07/9/2004 08:17 by sandbank £400k written off because the plug was pulled on the Farnham development plus loss of revenue etc. The weak share price for the last month and the sales on Friday were straws in the wind - someone knew! This disaster ought to be weatherable for BNT as part of the risks of the game - just so long as they took every step they could to protect the company against such losses and took action to mitigate them when they became inevitable. Whether they did is open to question. They should certainly not get this far into any project without having guarantees to protect the company against potential losses. After all this isn't roulette. There must be a head to roll at BNT for this. Someone somewhere at the negotiating end has failed to keep the sellers sweet and allowed another party to creep in with a better offer - no doubt gazumping BNT. The RNS is a bit delphic - we could do with more detail - and some resignations. Meanwhile NAV per share is still around 180p so long term this will climb back. |
Posted at 05/5/2004 08:10 by spider1 Recent Tip Details - TRENDWATCHOne of several small AIM-listed companies currently in the TrendWatch portfolio that has quietly performed very nicely is Bizspace, up 64% in just over a year. Now my analysis has identified a similar company, Basepoint, which should give you a repeat performance. Company Activities Basepoint floated on AIM in June 2000 at 123p. It's a fast-growing provider of managed facilities for growing businesses. It runs what it snappily calls "managed business, innovation and enterprise centres", 10 to date, with another 3 being developed. It plans to open two or three new sites a year. All of its current sites except Swindon are in the south of England. The units are rented out on 2-week licences and offer a full range of services included in the rent, including meeting rooms, lounges, CCTV, on-site management, 24/7 access and state-of-the art broadband telecoms. Developing new centres is expensive for a small company. Basepoint has hit upon a strategy to overcome this problem. It has decided that it doesn't necessarily need to fully own its centres. Its expertise is in building and operating them. Accordingly, it seeks to form partnerships with other organisations who are willing to buy the land. For example, it recently formed a partnership with the Trustees of the Kodak Pension Fund, under which the Fund will have 75% ownership of the land and buildings. The Fund will pay a fee to Basepoint to manage the centres. The Market Indeed, the company is also prepared to develop and manage centres for other organisations such as local authorities or government agencies for a fee. According to government figures, there are now close to 4 million businesses in the UK. 99% of these are sole traders or employ fewer than 50 people. These companies provide an astonishing 44% of all the jobs in the UK. This is a clear indication of the scale of Basepoint's potential market. Given that fact, the really surprising thing about Basepoint is that its shares should be trading at a discount to net asset value (Bizspace is afflicted by the same curse). You'd expect this of a pure property company, but Basepoint is certainly not one of those, especially since it is distancing itself from full ownership of its sites. Valuation At the end of its last business year, which ended in February, expect NAV to be over 180p a share (you'll be able to confirm that on May 20, when its full-year results are due). You can see from the price chart that only today have the shares reached that value. It isn't because of poor profits either. Profits have grown without interruption from 0.27 million pounds in 2000 to 0.88 million pounds in 2003, with 1.5 million pounds forecast for its next set of results to be announced next month. The forward PE of 13.5 is very low for its sector, despite delivering double-digit earnings growth. Furthermore, the company has a progressive dividend policy and has pushed up the dividend every year since it floated. For all of these reasons, the shares should push ahead steadily, helped by the restricted supply - institutions or directors hold about 60% of them. Basepoint is only about a third of the size of Bizspace in terms of the number of centres it has open; but if it performs anything like as well as Bizspace has, you'll be well satisfied. Buy. Key Data EPIC: BNT NMS: 500 Spread: 178p - 185p Market Cap: 20.3 million pounds TrendWatch is unique. It is the only publication that gives you complete listings of shares in uptrends and downtrends - vital information for investors and traders alike. Based on this, we make three fully researched share recommendations per fortnight. We have never failed to outperform the market by a substantial margin. Our current portfolio is up 57%. Our most successful recent picks include Peter Hambro Mining +410%, Patsystems +291% Telecom Plus +283% and Savills +191%. For more details click here |
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