C.H. Bailey Share Discussion Threads

[whilest2] 16/12/2011 15:36

harrogate
After the reorganisation the share price will be such that if you want to sell your shares (more than 5,000) the price would sag to nothing- a market depends upon sellers AND buyers. Here the assets are locked up and not realisable either by cash distribution or dividend unless the family (for they ARE) the
company decide so in their interests by then with just a handfull of shareholders. If they do go private they can then pay the ancient (but venerable!) Mrs B her salary infinitum or even increase her pension etc and realise their assets whenever they want. Why don't they just buy us, the Last of the Mohicans out - full stop. Do you hear that Mr B?

[euclid5] 16/12/2011 15:35

if they bothered re valuing their assets 20 yrs ago they could of got alot higher than now & returned a substantial special div back to shareholders many yrs ago

i wish all good luck to shareholders anyway - my last post here

[harrogate] 16/12/2011 15:34

You are out of date ..B shares went 5 years ago, and the Malta property was sold in 2 lots ..one we have the cash for which they have said they will keep to do what with who knows and the second lot the potential purchaser has 3 years to get planning and if they do we will get the £13m or whatever at which point "they will consider what to do with it and they might give some back to shareholders" Like all dogs it depends when you bought ..I am under water after 7 years but someone who bought this year could have doubled their money

[coolen] 16/12/2011 15:32

Given that Bailey may monitor this board and could de-list without a cash offer to minorities, should we not be less vocal about stating that they should go private ?

It could be that their desire to reduce the register size is because they've enquired from their registrars about the cost of sending out dividend cheques -it has probably gone up since 1965 (!).

[euclid5] 16/12/2011 15:30

can't be bothered on this dog - but does not take 3 yrs - stretching it out they are - no one can take over thgis co with their share structure B clas with high voting rights - passed down to the daugher I belive after the late Mr B

amazed this co is on these boards really

[harrogate] 16/12/2011 15:27

Read the RNS on 9th Sept it explains all

[euclid5] 16/12/2011 15:24

why is it taking 3 years to return Malta assets back to shareholders?

[harrogate] 16/12/2011 15:23

Given what they are doing I have to say I am not confident that there will be much sharing of the Malta proceeds.They said they would consider it at the time on the sale of the second half in 3 years time but the recent track record suggests to me that there will be a whole host of reasons not to give a special dividend etc and that they will have plenty of things to "invest in " .. I think the game is up ..the only question for me is do I think that over the next 3 years the share price will be higher than it is now due to hope on Malta

[euclid5] 16/12/2011 15:22

3: Out of approximately 1,580 shareholders, at the last annual general meeting only 6 Shareholders attended in person (4 of whom were the directors of the Company) and only 115 sent in forms of proxy

No suprise as they usually hold their Agm ON xMAS Eve or NY Eve thanks to the late Mr CH Bailey.

4: To date in 2011 there have been 102 trades in the Company's shares; in 2010 there were only 32 trades in the Company's shares and in 2009 only 60 trades.

thats because it's run like a private com. & their interests are not aligned with shareholders

by the way I was a sahreholder back in 1986 when they were planning the cardiff bay Docklands Redevelopemnt & guess who didn't bother rervaluing their property or 3 acres of land let alone sell it -

amazed people still trade this stock

[harrogate] 16/12/2011 08:22

Why would anybody want to invest in CHB ...They should just cut to the chase and take it private at a fair price and then do what they want..this is a real waste of money ..the fees etc will be a lot.. It doesn't save them any of the costs they moan about ..still need to hold AGM etc etc ( Perhaps if the company hadn't had a habit in the 1980s of holding the AGM of New Years Eve they might have encouraged more shareholders to attend ) It is all stuff and nonsense and I have no idea what they pay the advisors for

[mesquida] 16/12/2011 08:20

Harrogate - totally agree with your sentiments, but think that you are way too low in your projected price for taking it private. Have you done the sums - Malta cash, investment portfolio, African interests - this all comes out nearer to 300p surely?

[mesquida] 16/12/2011 08:16

I am not worried about the depletion of the cash resources - it is just that this might have been an opportunity to get another large investor on board who might then have been a balance against the Bailey family, but quite clearly this is not something that the family wants.
Am a bit surprised that there has not been more comment here this morning - to me this is one of the unfairest Schemes that I have seen in a long time, and I speak as a holder of 1% plus who theoretically should actually benefit from the Scheme!

[harrogate] 16/12/2011 08:09

As usual they make life complicated ..if it is so onerous being a quoted company why not just take it private? ..A price of say £1.75 for what they don't own can be afforded now .. Seems they somehow like the trappings and apparent cachet of being a PLC..God knows why. An institutional investor ??? In this company ..never in a million years. I agree that cancelling the listing must be a threat and at least this move makes you feel that isn't coming. I am very disappointed about the Malta cash ..more investments .. Give us the cash and let us make our own investments..I can see no evidence over the last few years that the investments have been good for shareholders. Nonsense I am afraid

[mikeja] 16/12/2011 07:43

My guess is that they will only be collecting about 500k shares at a cost of £650K NOT much of a hole in the cash balance.The price does seem low in relation to the overall cash coming in.What worries me is whether they are going to cancel the AIM quote

[mesquida] 16/12/2011 07:34

I imagine there will be a fair few howls on this board today. Consolidating small shareholders off the Register is a well trodden path, but I cannot recall a situaion where the minimum requirement was set so high. After all, 5000 shares currently have a value of 6500 pounds sterling! But, nevertheless, with such a lopsided Register I can well see the sense in what they are trying to achieve. At least the small shareholders who are effectively being dumped are getting a significantly better price than they would have done if this scheme had been effected six months ago! Shame that it is the Company´s new found wealth that is being used to finance the operation - I would have preferred to see a third party buying the lot if only to get an institutional investor on the Register.
Cannot help but wonder what Mr. Bailey has in store next for the rest of us! That is, all 70 of us!

[harrogate] 15/12/2011 08:07

I need time to look but my first thought is one of depression that they are going to just fritter this away.

[mesquida] 15/12/2011 07:25

Only a profit by virtue of the property sale, and no mention of what they are planning to do with all the cash that has come in via that sale, just some glib reference to having made some investments. Really hope that they are not intending to invest it all as I am not sure that they would be my first choice as investment managers and, after all, this is OUR money that we are talking about.

[royaloak] 14/12/2011 10:47

Never seen this on results before, a profit and positive statement!

Difficult to buy in quantity, can sell well above the Bid price. Mine will stop in the bottom draw.

[harrogate] 10/9/2011 12:40

This is a question we have been asking for years? We assume it is some sort of managemnt charge. Why don'ty you ask Charles Bauley he is always very responsive

[whilest2] 10/9/2011 12:29

Harrogate.

What I would like to know is why the 'management' class of business which I assume is the Bermuda Company made a loss of £973,788 to derive income of £ 18,498? Any idea?

[whilest2] 09/9/2011 18:43

harrogate
Ta. No market for the shares as held so tightly by family - but they must pay attention to the minority shareholders.

[harrogate] 09/9/2011 17:56

harrogate - 16 Nov'09 - 09:54 - 1089 of 1176 edit

I have read the various formal notices on the sales which are on the website. Putting in the after tax proceeds on the 2 deals and taking out the nbv of the 2 as they sit in the books currently gives a "current" net asset value per share of £3.35 ... I know they don't get the money for 3.5 years and they could easily lose a million a year until then on trading but I think this would be offset by what i believe is an uplift on the property in Tanzania which seems to be doing well ... Not saying this makes them a buy but thought I would do the numbers

I did that calculation at the time and i don't think it will be out by much