Conygar Investment Share Discussion Threads

[crooked lawyer] 26/7/2016 16:35

Apologies, I thought the thread was valid. Capital Reduction. Conygar has called a General Meeting details are under the news section of the CIC's web site. The purpose is to gain approval for a Capital Reduction. They will then go to the High Court to obtain a ruling.

[crooked lawyer] 24/7/2016 17:43

hxxp://irservices.netbuilder.com/ir/conygar/newsArticle.php?id=1883763&ST=CIC

[crooked lawyer] 14/7/2016 11:42

Yes, I agree. I dont think you are missing anything. They have just put in for planning for a cinema complex on the failed JS site in Haverfordwest but at the end of the day all they do is the spade work, get permissions etc, then they have to sell it on. Its ok pottering around Wales picking up cheap land with possible potential for future development but then you have to sell it on where there isnt the demand in the market and given the current situation regarding securing funding then that could present a problem. Sounds good on paper but the reality is something else. The decline in the oil industry caused problems for them in Aberdeen so they made a loss on their investment there and uncertain times ahead mean possibly that lenders will be a lot more circumspect regarding dishing out the dosh so to speak. Interesting times ahead. I remain positive for the UK. If EU funding dries up then it will be back to Westminster to fund Wales and I cant see them being too happy to pour money into questionable developments. We all are only too aware of the need to create employment in areas that desperately need it but I think that some harder choices are going to have to be made and viability of the success of the projects more closely scrutinised in order to secure funding.

[my retirement fund] 11/7/2016 14:12

Hmm a series of either poor investments or bad luck seems to have made this fund very unattractive and the under performance dare I say looks set to continue.

Is that a fair assessment or am I missing something?

[shavian] 10/6/2016 07:52

CL, sorry to hear about Dafydd Jones, this may spell the end of the Fishguard Marina project?Re: the Churnworks from Swan Square. Heading for Solva is bad enough, just getting access to the junction, but if heading for points east you cannot to a U-turn at the lights any more, so a sneaky way is to nip though the Wilkinsons carpark and onto the Morrisons roundabout that way. Holloway is one way (downhill) so you cannot get out that way either. Madness.

[crooked lawyer] 05/6/2016 20:51

some breaking news..Dafydd Jones of Contgar Stena line ltd the man behind the Holyhead and Fishguard Marina has died suddenly. His sons apparently have no plans to continue his plans.

[crooked lawyer] 30/5/2016 22:47

Did I mention the village green application at Newry in Holyhead is going to Public Enquiry.

[crooked lawyer] 30/5/2016 13:11

Sorry got side tracked...where are u heading...can u not double back through town? but I know they have changed the one way systems etc...can u not get up past the Mariner Hotel and up by the Church..there you can get access t St Thomas Green roundabout and down past the College ...anyway..sun is shining here today...good luck..

[crooked lawyer] 29/5/2016 18:49

Yes, what a mess!. Incidentally I see they have posted 2.1 mill pre tax loss blamed on the Aberdeen de-valuation due to oil slump...lol....There is now an application to NRW Licencing team to dredge. That will be interesting. I think they are likely once they get planning consents etc to sell the whole thing off and cut n run. We will see...happy days...at least the sun is shining..and my central heating nightmare continues...I wish I had never started..how these things just seem to grow and grow...Oh also nothing to do with CIC but Sainsburys has pulled out of Narberth and left them all there with egg on their faces...woops...

[shavian] 28/5/2016 09:47

As you say, highly dependent on the outcome of the Referendum. The outcome should have a binary effect on the SP, much further down on a Brexit, perhaps a relief rally on Bremain. However CIC does not have much of a following in the markets, so this may all get lost in the ensuing 'noise' post-vote.CL - Have you experienced the traffic jam caused by the stupid junction remodelling at the HW Churnworks? All down to CIC's moribund development on Thomas Parry Way. Trying to get out of my HW office in Swan Square is a bloody nightmare!

[crooked lawyer] 04/5/2016 18:28

Reading through old comments v interesting, whats the opinion for conygar outlook now in early May 16

[crooked lawyer] 20/4/2016 17:32

hxxp://www.dailypost.co.uk/business/business-news/100m-holyhead-marina-face-public-11208807

Holyhead Marina to face public enquiry. I see the shares had a blip at 127 yesterday.

[crooked lawyer] 15/4/2016 10:46

158 this morning...heading down?

[crooked lawyer] 25/3/2016 13:34

Your point re private funding. I agree to a point. Companies like Conygar though usually dispose of their "land banks" which is what this is to developers. The question then is and on and on it goes is where do they get the money from. This is where EU Funding COULD come into it as its all tied up with the creation of jobs etc. The Welsh Govt first minister recently stated that if the UK came out of the EU the Welsh Economy would tank and that is true. I have little time for the Welsh Govt. I dont know if you are English or Welsh but with the politics the way they are at the moment and the fact that English people want their own parliament, rather sad really, I liked being part of the UNITED Kingdom as I dont believe in a devolved Welsh Govt. Do you honestly believe that Westminster would give money to Wales to fund 10 jobs at a cost of Millions!!. I dont think so. Poor people in the Fishguard area and in many other parts of the country are being fooled into believing that this is the answer to all their prayers. Blue Stone, funded by Grants and loans. Mustang Marine, bust within 2 weeks of a EU grant of 1.5 million...and on and on it goes. In the business world of the past money was acquired for business ventures by a sound business plan to your financier now it doesnt matter whether or not a plan is viable only will we get the funding. Personally if we come out of the EU then maybe we will have to go back to looking at that source of funding and maybe that would not be such a bad idea. At the moment no one has secure jobs or very few should I say as companies are not necessary founded on secure financial footings. More and more people I know are having companies default on them and that in turn has a knock on effect.

[crooked lawyer] 25/3/2016 13:23

PCC Pembrokeshire County Council could not validate the planning application submitted in January because "
The first Reserved Matters application (the first application to approve design details) was received on 19th January. The application is currently unable to be registered and is what is termed “invalid”;. This is because the outline planning permission includes planning conditions requiring certain information to be submitted with the first reserved matters application and all this information has not been included."

...if you look on their website you will see a new Planning Application (details below) asking for conditions and reserved matters to be varied or removed under what is known in Planning as a section 73. The purpose of this new application to vary conditions imposed on the Outline Planning Application is to allow more time to develop the site in a phased development. I hope this information is useful to you. As I said this is not a Planning Application for final full planning but one to remove conditions to allow the phased development of the platform only. The Marina, and future buildings etc are for future determination.
Planning Application Ref:
15/1283/PA
Validated Date:
17-Mar-2016
Decision Date:

Decision:

Application Type:
Section 73
Site Notice End:
14-Apr-2016
Publicity Notice End:
Area:
Fishguard Town Council
Community:
Goodwick
Main Location:
Fishguard Harbour, Goodwick, Pembrokeshire
Full Description:
Variation of conditions 1, 7-11, 13, 15, 20 28, 37 and 38 (to allow a phased development) and removal of conditions 16-18 (relating to the Code for Sustainable Homes) of planning permission ref.11/0739/PA (mixed-use development including commercial marina, residential apartments, ancillary retail/commercial, land reclamation, infrastructure & landscaping)
Status:
Consultations Sent

[grahamburn] 22/3/2016 08:43

Thanks for that - strange that this article didn't come up when I searched for Conygar.

However, this article does confirm that the funding comes from the private sector (not EU grants etc) and that it has been well received. There doesn't seem to be a mention that it is invalid as noted in your recent posts, so still slightly baffled.

[crooked lawyer] 21/3/2016 21:34

When a new planning application is validated i will post its reference to Pembs CC website.

[grahamburn] 19/3/2016 15:08

Your comments are noted, but having searched Western Telegraph's website can only find two results for Conygar on there - one on Fishguard's ferry port from 2010 and one on Haverfordwest's new supermarket from 2011. Any clues on your sources for this information that the application is invalid?

Not too sure on the rationale for your last post vis-à-vis Conygar as an investment, save for the lack of funding from the EU for some of the areas where it has projects. However, so far as I am aware, most of the funding for the implementation of their applications will come from either their own resources or from companies which purchase segments of their developments from them.

As an investment over the past few years, Conygar has shown reasonable capital growth (not stellar). However, its dividend policy has been somewhat miserly compared to directors' bonuses, though that has been rebalanced a little following shareholder pressure a couple of years back.

[crooked lawyer] 18/3/2016 20:53

People invest on the promise of these companies delivering the goods. When they fail to deliver it causes problems and delays cost money. I am interested in their real time activites, dont confuse my negativity with frustration of being on the ground and therefore being personally involved in their projects failure or success. As shareholders u are involved with the rise and fall of their shares. I am interested in what they actually physically produce..so far not much..creative accounting always interests me as anyone with any business acumen will know that the recent budget has many faces. The poss withdrawal from the EU will have implications for companies who rely on EU funding. Can u honestly see Westminster giving money to projects in Wales of dubios viability. It will be interesting to see.I am looking to invest the success or failure of projects like this is crucial to me.

[crooked lawyer] 18/3/2016 16:33

Recently in January it was widely advertised in the Western Telegraph that Conygar had submitted a stage 1 planning application. If you look on CIC's website you will see it in the Fishguard section of PA submitted. This Application is invalid because of various legitimate issues regarding submission of reserved matters and conditions - lack of. Therefore they have to re submit it.

hxxp://irservices.netbuilder.com/ir/conygar/newsArticle.php?id=1710800&ST=CIC

And yes I am local to two developments. I have no axe to grind. I am just a realist. They are also held up at Pembroke Dock and have applied for an extention of time.

[lochgarman] 22/2/2016 20:33

grahamburn....agreed...

[grahamburn] 18/2/2016 17:18

Not sure what crooked lawyer is talking about either, as the two most recent RNS's have been reasonably positive (18 January and 15 February). Can't see any reference to an "invalid application".

Mind you, crooked lawyer has been negative and derogatory about CIC for some time. From memory from previous posts by him he is a "local" to one or other proposed development so may have an axe to grind.

[lochgarman] 18/2/2016 16:47

crooked lawyer...

where was this quoted?? thanks

Re the Marina and their current announcement. " the current application is invalid and is likely to remain so for some time" we will notify you as soon as it becomes valid"......somewhat premature announcement me thinks by Mr Ware.