Gresham House Share Discussion Threads

[ntv] 03/12/2007 23:25

looking at the proposed new board,how can you run this and basket worthington nic at the same time

[ntv] 03/12/2007 09:55

even with their quoted figure nett asset value is way over £10
of course their property consultants would say there is no chance of developement
it is a wonder that they didn't say nett assets were only £5 per share
at the last agm i said to fred that they should be more forthcoming with disclosure of where and what the potential of their property assets are
perhaps as well showing all their listed and unlisted investments in more detail

[ntv] 03/12/2007 09:50

parkwood trying to gain control for nothing and will then stip the business for their own benefit

[bisiboy] 03/12/2007 09:21

i dont understand the figures quoted by parkwood
i believe the land is held in 2 parts 1 100% owned the other 75% owned
therefore if and it is a big if 65m is achieved how can it urn into 18m!

[ntv] 03/12/2007 08:08

parkwood paid £7 per share

[ntv] 02/12/2007 22:18

plenty of interesting assets here and i guess that is why parkwood bought in
perhaps they see residential planning rather than retail planning as a better option
there must some real gems hidden in this one for these guys to be taking an interest

[ntv] 02/12/2007 21:56

guess they will use some of the performance of some of the listed stocks to help their demands in a change of leadership

[ntv] 02/12/2007 21:55

don't know why parkwood don't make an offer
probably £10 would grab them a bargin

[ntv] 02/12/2007 21:52

patrick can you phone back as i have lost your number

[ntv] 02/12/2007 21:52

i thought this would turn into a war

[ntv] 02/12/2007 21:51

Parkwood Property leads effort to oust Gresham House board




LONDON (Thomson Financial) - Parkwood Property Investments, led by
entrepreneur Robert Mexted, is leading an effort to oust the board of investment
trust Gresham House in a row over its property portfolio.
Parkwood, which owns a 29.9 pct stake in Gresham House, has sent a letter to
Gresham shareholders accusing the trust's management of ignoring its attempts to
discuss how the value of the group's property portfolio can be managed.
The group is requistioning an EGM to vote for the removal of the board.
The shareholder is furious about the announced sale of a site in Speke,
Liverpool, for 61 mln stg, conditional on achieving unrestricted open A1 retail
planning consent within five years, which it says is deliberately misleading to
shareholders.
"All of our property experience together with that of independent advisers
suggest that this valuation is based on wholly unrealistic assumptions, and has
been misleading to shareholders," the group said in the letter.
It added that Gresham's share of the proceeds would not be 61 mln stg but
only 18 mln stg because of a minority interest in the most significant part of
the site.
It added that planning permission is unlikely to be granted, and thus will
terminate the sale.
"Our planning consultants Drivers Jonas have told us this is unlikely to be
granted, so it is unlikely that this sale will go ahead on the terms outlined by
Gresham on Sept 25," said a spokesman for Parkwood, adding that Gresham had
confirmed Speke's value remained correct on Nov 16.
Parkwood said the announcement from the group was "misleading" and adds that
its concerns over the group's management - as well as its share price
performance - "gives it no option but to seek to make changes to the board of
the Company, for the benefit of all shareholders."
[e-mail]

[ntv] 19/11/2007 09:22

POST REMOVED

[ntv] 16/11/2007 16:50

guess our 29% shareholder wanted more detail

[ntv] 16/11/2007 16:44

interesting rns after the mkt closed today

[ntv] 01/11/2007 09:33

a bit weird , no trades showing yet this is on the move
possible sale of property again perhaps?

[ntv] 08/10/2007 18:15

slowly moving up again

[muffster] 01/10/2007 18:56

Understood - many thaks

[bisiboy] 29/9/2007 17:23

thats how i get to my £20.

[bisiboy] 29/9/2007 17:23

speke deal could add £10.00 to nav

[taylor20] 27/9/2007 14:19

Typical discount to NAV seems to be 20ish%, so the market is not even taking into account the possible Speke deal?

NAV @ 31/12/07 = 902p
Share Price = 730p - 630p (22% discount)

NAV @ 30/06/07 = 934p
Share Price = 720p (23% discount)

Portfolio Gain ~ £2m
Dorking Sale gain ~ £5.3m (pre tax)
£7.3m / 4.87shares ~ +150p

NAV @ 27/09/07 ~ 1087p
Share Price 830p (23% discount)

[muffster] 25/9/2007 20:58

Not sure how you arrive at £20 -
TRT Has fallen sharply recently.

Please explain your figures

[bisiboy] 25/9/2007 18:09

very well done taylor 20
nav should these deals go through after tax will be around £20 per share