Fayrewood Share Discussion Threads

[old boy returns] 31/10/2008 11:02

badtime - r u asking about fwy or the market and over what timescale?

[badtime] 30/10/2008 23:00

old../mind me asking how much of a % rise u r expecting from here?

[etarip] 28/10/2008 09:25

Old Boy:

Thanks for your reply. I agree, it is too soon to consider buying. The market always seems to go further (up or down) than one would expect.

[old boy returns] 27/10/2008 17:23

etarip - to be honest I have not really started looking yet as I expect the carnage to continue for some time yet and the next quarterly GDP announcement be an absolute shocker.

I will probably buy the FTSE-100 index plus a selection of under-valued small caps. Will be looking for companies which generate cash and have no debt and operate in growth markets. I may also go for some exposure to overseas markets through well managed funds. Russia in particular as I suspect raw material prices will rebound sharply at some point.

[etarip] 27/10/2008 16:56

Old Boy: What shares have you got your eye on, if I may ask?

[old boy returns] 27/10/2008 14:06

I suppose one good thing about this delay in distributing funds is that it has prevented me from reinvesting it in shares and watching it disappear in the meltdown ! The £50K I should eventually get from my remaining holding should be enough to buy a bargain basket of shares with bombed out prices but good underlying businesses in growth sectors.

[etarip] 26/10/2008 08:48

manouk: sounds encouraging, thanks

[manouk2] 25/10/2008 17:25

no timescale indicated,but he said they are beavering away. Apparently,lots of technical issues,but he mentioned that the size of his own shareholding really concentrates the mind. I certainly got the feeling that he was itching for an outcome.

[etarip] 25/10/2008 17:13

manouk: Did he give any indication of time scale?

[deswalker] 24/10/2008 12:56

thks manouk

[manouk2] 24/10/2008 12:06

DesWalker---FWY have already said at the AGM that they cannot buy in their shares at a time when the board is considering "proposals". I recently phoned Kleeman,and he told me that the advice the company had received on the subject hasn't changed.

[deswalker] 24/10/2008 12:02

I suspect it's all to do with the possibility of a reverse takeover. Perhaps they're not allowed to buy back if that's on the cards ? The investment strategy on their website appears to talk of a reverse takeover as the primary method of closing things out, presumably after most of the free cash is returned.

I may be talking rubbish though.

[scburbs] 24/10/2008 11:43

Forced closures from people who need the cash and can't wait that would be my guess. North Atlantic can't sweep up these sellers anymore without breaching the 30% takeover threshold.

Why the company does not buyback the shares available for sale remains a mystery.

[apang] 24/10/2008 09:07

Yes mine arrived this week. Anybody any idea why teh rice dropped 10p

[deswalker] 23/10/2008 17:16

Has anyone received the divi yet ? I'm still waiting for it to appear in my Halifax account.

[old boy returns] 09/10/2008 22:26

hi manouk2 - what on earth is the company an 'insider' to? Surely the fact (which is public knowledge) that they are looking at ways of returning capital does not make them one. And if it does, in the current climate with distressed and forced sellers, they would have been better off just announcing a buy back period following which they would resume farting around deciding how to return what is left.

[scburbs] 09/10/2008 19:13

Good to see North Atlantic topping up who must surely know where the money is, which presumably means not in Iceland!

Does anyone else know who FWY has their deposits with? Per the circular the Euro6m is with Barclays.

[manouk2] 09/10/2008 18:10

OBR---this was raised at the AGM. They can't buy in any shares because of --first--they were in a "bid" period,and now because the company is an insider.

[manouk2] 09/10/2008 18:10

OBR---this was raised at the AGM. They can't buy in any shares because of --first--they were in a "bid" period,and now because the company is an insider.

[deswalker] 09/10/2008 13:23

There's the sale RNS. Axxion sold all their 1 mill shares at 108.89. I don't know if they are the same as Squad Capital but it sure looks like a distressed sale. NAV have been quick to up their stake to just below the 30% threshold and they would have surely taken the lot (and on the same day) if they were about to make a bid so I suspect the other 400k has gone elsewhere (hopefully to the company).

[old boy returns] 09/10/2008 12:20

I don't think management are on the ball with this one. If NAV are managing to buy in volume in the market at 110p then why on earth are the company not buying those shares back themselves for cancellation and so generating value for remaining shareholders. Also how long to they need to 'explore options for returning capital'. There are only so many ways it can be done and all are well tried and tested so it doesn't take that long to figure out the route to go. ARGGHH !!

[etarip] 09/10/2008 09:35

If they are over 29.99% they must make an announcement very soon.

[deswalker] 09/10/2008 07:30

Well spotted. Fingers crossed you're right.

Squad Capital Nominees had exactly 1 mill shares so maybe they're in distress (aren't we all) and needed to sell at any price.

I notice from the website that they seem to have a maximum fixed timeframe of 18 months from the EGM date (24 July 08) during which they believe everything can be concluded. Quite how this fits in with the retained cash timeframes is unclear but they seem to think the listing will be cancelled by then so they must be able to get the cash out somehow.

Hopefully we'll get something rather sooner.

[balcony] 08/10/2008 22:45

Am i right in thinking north atlantic will now after bid after yesterdays purchase of 600k and maybe a further 400k today at 109 ex div,This will put them over 29.99%,We will see over next few days.

[deswalker] 08/10/2008 10:28

I went xdiv today which accounts for a penny. The rest just looks like the usual panic.