Conygar Investment Share Discussion Threads

[sleepy] 04/2/2015 22:23

Any news from the AGM?

[davidosh] 04/2/2015 13:32

Is anyone going to the Agm today ? There is usually a good attendance and I have been for the last three years but cannot make it today unfortunately.

[shavian] 19/12/2014 08:48

Two fund managers I rate have both stated a liking for CIC in the past month. Looks like Sainsbury's may drop the Haverfordwest superstore, but that's no longer CIC's problem, apparently.

[spectoacc] 15/12/2014 07:18

Can't go bust taking a profit, particularly if there's a better home for the money. Must admit I can't see many - airlines already moved up, oil stocks tanked.

[strathroyal] 14/12/2014 10:17

Considering selling my holding as this has been tipped by the IC and that has inflated the price a little. Main reasons for selling would be, firstly, that the ZDP fund raising has not been used after 12 months and basically sits as cash on the balance sheet, which seems pointless as well as expensive.

Secondly, the institutions don't seem to share the directors view that the shares are undervalued as they seem willing enough to sell to allow buybacks. As much of the future increase looks to be at least 12 months away, there would appear to be better uses for these funds hunting out some beneficiaries of the oil price fall.

[spectoacc] 08/12/2014 07:32

@topvest - CIC's a funny one, it's one of those "you too can invest alongside the star managers". The recent NAV moves, as you say in a rising market, make it look a bit more like a regular property co. It started out as activist looking for (& finding) ops.

I've never keen on d's taking big chunks but more impressed by this (& continue to hold some, though haven't added in some time):

The Conygar Investment Company PLC ("Conygar" or the "Company"), the property investment and development group, announces that it was notified on Friday 5 December 2014 that Preston Rabl, Executive Director, bought 140,000 ordinary 5p shares at a price of 180 pence per share. Following this transaction, Mr Rabl's notifiable holding will be 1,485,480 ordinary shares, representing 1.74% of the total voting rights.

[topvest] 03/12/2014 08:43

Yes, but way too high. The costs of running this company are just way too high as a percentage of assets.

[skyship] 03/12/2014 07:48

The bonus is for performance over the past 3yrs; and agreed by shareholders after publicity gvien to their excessive bonuses before then. Also: "Directors will be reinvesting 50% of their net after tax profit share in Conygar shares to be held for a minimum period of two years, as agreed by shareholders at the AGM in February 2013."

NAV increased to 197.5p (EPRA NAV at 195.9p)

[topvest] 03/12/2014 07:22

OK results. 1.75p dividend. £7.7m director profit share...simply disgraceful and greedy. Are their results good enough to provide that sort of incentive in a rising market? Can't see they have done much at all in the last couple of years to generate real shareholder value in a rising market.

[lochgarman] 23/9/2014 21:16

I was in the brand new Marstons pub in Pembroke Dock at the weekend..very nice.

No real sign of the rest of the development taking place 'yet'.

The new pub was very busy and should do very well considering it is so close the ferry port and there are no obvious alternatives in that area.

[gaywood 4u] 08/9/2014 17:57

Poor little froggy

[sleepy] 07/9/2014 21:51

4wood - ????

[spectoacc] 09/7/2014 09:49

Can't say I'm a fan of buybacks for mainly that reason @ursus. Though CIC's made a lot of sense when they were in the 90s. Mind you - I suppose they'd argue that whilst they're still at a discount to NAV then it's adding value. More tax-efficient to raise debt to spend on acquisitions.

[ursus] 09/7/2014 09:42

Hefty - that's over 3.5% of the shares in issue. The resulting NTA uplift also affects the bonus take for the management....

[skyship] 09/7/2014 07:25

09 July 2014

The Conygar Investment Company PLC ("Conygar")

Repurchase of own shares

Conygar announces that, in accordance with the terms of the general authority to make market purchases of its own shares granted to it by shareholders of the Company on 6 February 2014 the Company acquired for cash in the market 3,142,700 ordinary shares of 5 pence each in the capital of the Company ("Shares") on 8 July 2014 at a price of 165.5 pence per Share. The acquired shares will be held in treasury.

[shavian] 05/7/2014 09:06

The attached video gives a few inklings about the "independence" of our councillors, but the main local gripes concern the profligacy of the council officers. What Haverfordwest really needed a decade ago was a flagship commercial centre to revitalise the town centre on a key strategic riverside site. What did we get? The council built themselves a multi-million pound majestic palace on the site - the council offices known locally as 'Taliban Towers'. As a result, all the recent commercial developments - M&S etc and now potentially Sainsburys - have been out of town, which has ripped the guts out of an already struggling town centre. The recent scandal about the Chief Executive's 'cash for pension contributions' has not helped their reputation. Google it if you are interested.

[skyship] 24/6/2014 09:23

Shavian - 75% of that Council are stated as Independents! What are they exactly?

If they are Liberals under a neutral flag then I understand your concern...

[shavian] 24/6/2014 06:58

It's just reverting to the mean trend, as shown on post 1040. Healthy.

My only concern before buying is the involvement of the Pembrokeshire County Council in the PD waterfront project. I pay Council Tax to this venal bunch of shysters, and would not trust them with a tiddlywink!

[etarip] 20/6/2014 16:06

Yes, and what does the share price do? Goes down!

[shavian] 20/6/2014 12:19

Excellent analysis by Simon Thompson on CIC in this week's IC, expecting year-end fair value of 200p

[jaws6] 12/6/2014 08:40

Still he got bid for small at 182 left .
39985 at 182 done at UT

[spectoacc] 12/6/2014 08:28

Opening UT, so someone got a bit diddled in the auction. Either that, or size is very tight. Suspect the former!