Fayrewood Share Discussion Threads

[stemis] 24/11/2008 08:59

It would be nice to think so

[deswalker] 24/11/2008 08:24

Something must be in the wings ...

[nonno] 22/11/2008 21:43

re 2648 old boy returns Have you read Aimzine article

[badtime] 18/11/2008 19:19

gently does it...30k buy ths time

[badtime] 17/11/2008 18:28

gently does it...nice 20k buy late on

[badtime] 13/11/2008 17:22

bit more stock bought..small increase...cant b much around

[bhoddhisattva] 13/11/2008 09:32

Think the answer is basically "YES" Stew - as Mark Twain said, "History rarely repeats but often rhymes" or similar.

Mind you, my patience is being tested to the limit with the glacially slow apparent progress here on FWY.

Come on chaps - we know you're in there!!!

[stewjames] 12/11/2008 19:16

"Biggest risk is that management try to us all the cash to buy a company but I very much doubt that would get shareholder approval."

And even if the unlikely event it did occur and you weren't interested in the acquisition, it's very likely you'd be able to exit safely without it costing an awful lot.

"So buying FWY for 110p when it has over 150p a share cash on the balance sheet and no trading operations to eat it up really is very attractive."

Agreed. I'm mildly astonished to see this and other similar cash rich situations around at the moment. Didn't people learn anything from the last time this happened after the tech bubble burst? Do markets just go through repeating cycles with the same types of opportunity cropping up every few years? (This is not a rhetorical question!)

[badtime] 12/11/2008 18:33

Cant b tht much stock around

[badtime] 11/11/2008 18:16

nudging up on som nice buys

[old boy returns] 07/11/2008 15:38

badtime - fwy at current levels is a bit of a no-brainer for someone with a pile of cash they want to invest in the market without being exposed to all the current volatility and recessionary risk. Biggest risk is that management try to us all the cash to buy a company but I very much doubt that would get shareholder approval. So buying FWY for 110p when it has over 150p a share cash on the balance sheet and no trading operations to eat it up really is very attractive. Also the fact that much of the return will most likely be in the form of a capital gain (lower rate of tax for higher rate tax payers plus bigger CGT allowance) could make it a tax efficient investment for many.

[badtime] 06/11/2008 20:39

these 10k buts seem to b getting regular

[badtime] 06/11/2008 09:35

thanku swifto..i try to b as brief as possible

[swiftnick] 06/11/2008 07:49

Insightful comment, badtime.

Yes, indeed. Bice has been stake building for some time and I think this could have quite an impact on the direction of the share price.

[badtime] 04/11/2008 18:10

some bice buys today

[badtime] 03/11/2008 19:34

gd to c som movemnt...with someone dumping 16k at 107 earlier

[mjcrockett] 02/11/2008 19:34

There are a few paragraphs on Fayrewood in the November edition of Aimzine - we are a free online AIM specialist magazine. To read the article please register at The piece on FWY is in the 'Money Going Cheap' article.

MJ

[old boy returns] 31/10/2008 23:48

hi badtime - this can't drag on for 12 more months ! I expect a decision pretty soon. We should get 140-150p a share with the bulk being soonish and maybe a wait for a portion if they cannot resolve the security for the warranties issue.

[badtime] 31/10/2008 22:07

old boy...FWY and yes..nxt 12 mnths :)

[gengulphus] 31/10/2008 16:14

Essentially the same words were in the RNS announcing the final disposals and the EGM to approve the company's investment strategy in the summer ( ).

Basically, they're just spelling out the consequences under the AIM rules of being a cash shell for too long.

Gengulphus

[deswalker] 31/10/2008 12:24

This is the statement that intrigues me most. It is embedded deep down in the website (under the Company Profile -> Overview section) but I don't recall it being released formally. Maybe you guys know better but it was certainly news to me when I discovered it about a month ago. Is it news or am I behind the curve ?

If Shareholder approval in respect of the investing strategy is obtained at the EGM and the Company does not complete a reverse takeover during the twelve months following the EGM, trading in Fayrewood's Ordinary Shares on AIM will be suspended by London Stock Exchange plc. In such an event the Company would remain suspended for six months, after which its listing on AIM would be cancelled. However, the Directors intend to be able to return cash to Shareholders in some form prior to this date.

[old boy returns] 31/10/2008 11:48

"Hopefully interest income will be exceeding running costs."

Hi Stemis - bloody better be ! They have about £36M of cash on the balance sheet and no operations so I would expect that running costs are substantially lower than the £1.8M a year interest income they should be earning. Basically all management have got to do now is decide best way of returning cash and get on with it. I strongly believe that they have missed an opportunity to create shareholder value by buying back shares (we have seen high volume sales at current levels due to ditressed sellers / market conditions) and getting themselves handcuffed by 'talks' has been a mistake.

[stemis] 31/10/2008 11:17

NAV at 30 June was 152p per share. Hopefully interest income will be exceeding running costs. I bought not too long ago at 121p (inc costs) hoping for about 15% in 12 months. That would be about 139p which should be about 10-15% discount to nav. Seems about right to me now.