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Real-Time news about Georgica Plc (London Stock Exchange): 0 recent articles
|hectorp: mjcrockett: the properties are worth more than the Market cap.
on my close watch list. A facinating recent drama unfolded, not taken over, = disappointment, a large holder reduced, which has to impinge on share price. Looks very overdone now. BUt the huge profits are a one-off . But they put the company ina better position.
If I do buy I'd be looking for a 50% recovery to 60p minimum in 2008. That, looks easy.|
|tooredtobleed: first quarter results not impressive but share price holding up well, looks like it doesn't want to go below 120|
|tooredtobleed: Classic 1p spread for this share should mean big rise today or tomorrow - check my past posts and share price movement!|
|tooredtobleed: they have said already that they thought it extremely unlikely anyone would come up with an acceptable offer
I expect the bowling division to be sold off in some form or other, via freehold sites with planning permission and the rest got rid of for whatever they can get (perhaps management buy-out) which should have a big effect on their debt mountain.
But then it would not surprise me if they leveraged the successful trading side of the business (Rileys) to generate cash to buy another ailing company and start the cycle all over again.
Basically, no telling with these chaps (it is an AIM co after all).
The good part is that institutions with large investments will probably want to book some profit so it may all go down in a way that generates some cash for small investors as well (again only a suspicion, but listing Rileys once free of most of its debt on the main market seems likely to me, which would then leave GGA as a cash rich shell company to buy something else.
The GGA directors are astute, fast buck merchants who have been slowed down by a couple of years sorting out Georgica's problems. That does not mean they have much interest in small shareholders, though.
On the other hand, the market won't like another poor trading quarter and the share could go lower still over the short term. (cue (sic!) for the MM's to rack up (sic!!!!) the share price just to prove me wrong).
I am mostly out at the moment, BTW, some nice profits in hand.|
|tooredtobleed: GGA as a trading company does not much inspire (a long drawn out saga with all the promoise sometime in the future) as all its profits are eaten up servicing an increasing debt and possibly director salaries/expenses not to mention consultants.
GGA potential from the sales of its freehold sites to house developers and presumably then clearance of its massive debt is worth thinking about, though possibly mostly priced in already.
The directors have stated that they find it unlikely that anyone will give them enough dosh in a takeover offer at the moment for them to take it seriously - so should we?
Current bid/sell spread suggests the share price is stalled at the moment and going no-where fast but this can change on a whim - look for a 1-1.5p spread to see which way the wind is blowing (this has worked 9 out of 10 times in the past).
I have done well out of this share since it recovery from around 30p (having originally bought in at 120p and averaged down several times) so ain't complaining so far!|
|tooredtobleed: price down on good rns news - Bristol bowl site has planning permission for 180 flats. WOuld guess that puts the land value at around 10 million. Lack of share price upside suggests underlying trading is still poorish. Extrapolate the value of remaining freehold sites, they may be able to clear debts and still have the whole of Rileys as a trading enterprise.|
|littlejohn62: Interesting points to note:
Schooders have off loaded a large quantity of shares without seemingly affecting the share price
Although no bid seems to be imminent the share price remains stable at around the 1.50 mark
Reading the not so positive would suggest that the share price has reached its highest level in the circumstances
A more positive perspective would take the view that because the share price has not fallen then a bid is still likely and that bid will be higher than the current market price
Incidently maquarie bank recently anoounced it was buying bowling assests in Australia. Might they be interested in buying similar assests off of george ?|
|tooredtobleed: weird and wonderful rns re share price movement - looks like there are several potential buyers but that they aren't likely to come up with the kind of money Georgica directors want.
which means what to the share price?
up because of hidden potential of the co in the directors eyes
up because there might be a bidding war for Georgica
down because directors think takeover unlikely
up because the press brings some attention to Georgica
presumably the large insitutional holders are open to a decent offer rather than promises of more in the future.
Should do 150 short term, maybe even break through the 200 mark but not sure if it can hold those levels. All IMO etc.|
|littlejohn62: That's interesting speculation on your behalf: evidence?
My own thoughts suggest the ongoing development of sites in relation to property speculations had aleady been factored into the share price..? If this is so, then something else has to explain the significant moves in the share price today??|
|siskinbird: Stmnt re Share Price Movement
31 March 2006
Georgica has noted the recent rise in its share price. The company knows of no
reason, other than recognition of its intrinsic merits, for this rise.
Georgica it not currently in talks with any third party interested in making an
offer for the company
That might spoil the fun for a while - but I do like "...other than recognition of its intrinsic merits"!|
Georgica share price data is direct from the London Stock Exchange