Hawtin Share Discussion Threads

[solarno lopez] 08/4/2010 13:11

he needs glasses does MRYESYES

[cg1953] 08/4/2010 09:41

whats all this talk of delisting.
i see no evidence of it anywhere ?

[mryesyes] 05/4/2010 22:37

delisted 7am apr 5

[mryesyes] 19/3/2010 17:06

managed to unload over 50,000 through my mate at the mm's at 4.15, got 4.18
its going to delist

[mryesyes] 11/3/2010 19:02

don't like the lack of news on this one, avoid

[solarno lopez] 09/3/2010 16:48

thats why you are not getting within the market spread

[meict] 09/3/2010 15:32

Using an on-line service.

I'm happy to hold what I have and would top if they fall further - that is after I've checked with the company's management.

[solarno lopez] 09/3/2010 14:22

get your broker to do a better job or are you using an on line service

[meict] 09/3/2010 14:04

Somebody has managed to dump some more and I'm being quoted:4p to 5p.

At 5p,they don't be seen to sell. I would have thought a spread of 4p to 4.4p would make more sense.

[meict] 08/3/2010 23:14

Probably so but 25,000 at 4.25p is only £1,062.25!

I'll give them until the end of the month and then, if nothing else has been said,I'll call them for an update.

Considering they were buying something for £10+ million in Swansea going on for six months ago. It was first mentioned at the AGM, then a few details came out at the EGM (there were only two shareholders there) and a little more was said when I spoke to Bob Carlton Porter before Christmas.

Whilst I was in Cardiff, I looked at the Millennium Plaza and thought it grubby and a little tired. Valued around £20 million, I hope the valuer saw what I didn't.

If I could buy at around 4p, I'd take a chance and top up. Which way do you see the share price going mryesyes? It could be worse Richard Hayward bought in at around 18p! And another director lower down but more than this.

By the way, the proposed share issue came to nothing but nobody has said anything.

Shouldn't it be Solarno López?

[mryesyes] 08/3/2010 21:19

The last trade was a sell of 25,000 at 4.25, I guess its a matter of who you know (or don't know) meict

[meict] 08/3/2010 14:39

4.25p - a maximum of 5,000

4.64p - any quantity

[meict] 05/3/2010 17:15

No not at any price. Whether the price will move in three months time like it did last year,I don't know.

If I had any money I'd ring the company, as they've spoken to me before. I also have Bob Carlton-Porter's mobile number.

They are obviously making money, having renegotiated their banking covenants and they are clawing back the huge deficit from last year.

There have been no recent press releases or announcements but I know what happened before Christmas it's not of much value and I will, given the time,if anybody's interested post it on this board.

Meic

[solarno lopez] 04/3/2010 07:16

Market Makers don't want the stock

[mryesyes] 22/2/2010 16:26

The commercial property market is alleged to have bottomed out, so a combo of this,thg and saf would make a wise buy with most in thg

[meict] 11/1/2010 14:35

Is anybody still interested in Hawtin?

I must say that I'm sorely disappointed at the share's performance.

I just tried to sell some shares and the Market Makers certainly don't want to buy them. Of course, they are willing to sell you as many as you want at somewhat less than the middle price.

I've started a new thread. As it's a new year, I thought that we should have a new thread so we can try to figure out what's happening at Hawtin.

[meict] 08/1/2010 21:53

A belated Happy New Year to all unfortunates who are holding shares in Hawtin.


On 15 September, Hawtin posted the following message on their website:


The Company has today posted to shareholders a notice of an Extraordinary General meeting to be held at 2.00 pm on 7th October in Cardiff. A copy of the notice is available from the Company's website. The meeting has been called to seek shareholders authority for the Board to issue new Ordinary Shares to investors. The Board wishes to raise additional funds in order to have the ability to take advantage of appropriate market conditions without the need to seek further shareholder consent. The Board anticipates that any fundraising made pursuant to the proposed authorities will take the form of a placing of new Ordinary Shares with institutional investors together with further investment from existing shareholders.

The Company's Interim Report for the six months to 30 June 2009 has been posted to shareholders and copies are available from the Company's website www.hawtin.co.uk.


Since then they've issued four further communiqués:

1 the letting, to Sunlight, of the Trade Park at Aberaman;
2 the result of the EGM;
3 the sale of a unit at Parc Nantgarw; and
4 Anton Woodhouse's elevation.


Items 1 and 3 were made known, together with other information, to the shareholders at the EGM.


What they were not told was the purpose of the share offer.


Well, does anybody know anything?

[meict] 07/1/2010 20:15

What's Happening at Hawtin? It's time we had a new thread.


Nobody has made a comment for almost four months!


Doesn't anybody know anything? Doesn't anybody care?


We all know that the share price has been coming down but why?

[mryesyes] 16/9/2009 16:19

It this case there is no adverse effect to shareholders from a dilution.
If you look at the accounts the properties are worth £60m and the overdraft & "short term loans" are £59m plus £3m long term loan.
The preference holders have not been paid, so they will all vote in favour.
In the simplest possible terms if you have a book of 3 houses that would sell for £500K total, and mortgages on them of £490K and asked to borrow money in exchange for a cut of both the proprties and the mortgages, you would be no better or worse off in net asset terms, but you would have liquidity (for your directors to be working with, and that is what they are paid by us to do).
They may be placing the shares at as little as 1p (more likely 1.5p) to get takers.Or as much as they can get.
Don't worry if they cannot place them they will be forced to do an open offer, but they cannot do that first as no-one will accept the placing if the rights issue failed.
NAV = 0 So what do you have to lose. I would sell at these prices (unless like me your holding is tiny) as they are bound to fall after the placement, or announcement of rights issue if the placement fails. Then buy back

[sharw] 15/9/2009 12:36

The circular arrived with the interim report this morning. What is not mentioned in the RNS is that they are seeking authority for up to 500m shares - 5 times the existing number. Without so much as an 'open offer' I consider that excessive. The use of the phrase "near future" suggests the deal is already lined up.

[meict] 09/9/2009 15:10

Most days I check the Bid and Offer prices on-line for Hawtin.


Today the Market Makers are willing to Bid 5.51p for up to a maximum of 10,000 shares. Obviously, they are not keen to buy having recently purchased a total of 100,000 at around 6.0p.


The Offer price is somewhat different:

1-25,000 can be bought for 6.19p

For 25,001-100,000 there is modest premium at 6.24p

If you buy 100,001-125,000 (the maximum), the price jumps somewhat substantially to 6.445p.


So what's happening? Well, the price seems volatile - makes a change doesn't it - and I think that a purchase of 100,000, or near to it, will push 'middle' price back to 6.25p. The shares being volatile means that they are likely to rise on any good news.

[meict] 09/9/2009 02:10

Dear Fellow Hawtin Investors,

I've read Bob Carlton-Porter's statement a number of times and tried to read between the lines. Below is listed what he is saying and my interpretation. Am I reading him correctly or not?


"Over the past few years, the Board has striven to broaden the geographical and occupational base of the portfolio. As a result, the Board is able to see a stabilisation of the Group property portfolio and considers values as a whole are unchanged at the half year. This has resulted in demand for our commercial units and we are now hopeful of being able to announce further lettings in the coming months."

I take this to mean that they are actively engaged in negotiation to let one or (hopefully) more sites. Similarly, why tell us about empty sites and more profit expectancy if it isn't in the pipeline?


"I am pleased to advise that Bank of Scotland have recently approved a £10.85m loan advance under the £50m facility in respect of a corporate acquisition, which is now in legals, and we are moving forward towards completion which will probably take place later this autumn."

I can't see the Bank of Scotland going through this rigmarole just to shut us down in six months time. I see this as saying that the future of Hawtin is (almost) secured. Since December 2008, Hawtin was spent more than £20m on Nantgarw, Holywell and our latest purchase.


"The results for the half year also include a revaluation surplus of £756,000 which represents the discount to current value on the acquisition of the Nantgarw property in January 2009."

The £1m difference between the purchase price (£4.35m) and the valuation (£5.35m) less expenses. Parc Nantgarw is a site populated by First Class (almost blue chip) tenants and, as I stated in a previous post on the bulletin board, I expect this property to be revalued (upwards) at the end of the year. Parc Nantgarw at present yields 10.5% on a valuation of £5.35m. Where in Heaven's name can you get interest rate of 10.5%?

Valuing the site using a yield of 10% means that it's worth £4.6m and adds £250,000 to the profit line. Similarly, 9% = £6.25m and £900,000 whilst 8% = £7m and adds a whopping £1,650,000! Rent reviews are also due in September 2010 and April 2011, which will also add value to the property.

Parc Nantgarw occupies a plot of 8.65 acres (376,794 square feet), the three single-storey industrial/warehouse units cover a total of 108,000 square feet. Surely, there must be a good case for a further building (or buildings), of one or more storeys, on this site.


"The continuing development of the centre of Cardiff is bringing increased footfall to the area and we expect not only to see a secure role for the Plaza in this but also to play a part in this renaissance. Once St. David's II is complete, the Cardiff City Development Team will turn its attention to the area surrounding the Plaza and we are engaging in early discussions."

This is possibly the best news, as it may mean that the Millennium Plaza will be revalued (upwards) more quickly than if it was only dependant only on rental value. The 'fair value' has dropped 25% to £22.5m over two years from an original valuation of £30m.

The new St David's Centre will open in 43 days time, on 22nd of October. The more than 160 stores will extend the existing 427,000 square feet shopping centre, to provide 1.4 million square feet of retail space in the heart of Cardiff. Wales' capital receives 27 million shoppers and 10 million tourists each year, and St David's will, undoubtedly, promote Cardiff into the United Kingdom's top ten retail destinations.

Perhaps, albeit finally, the proposed Chinese restaurant will open in time for Chtistmas.

[arthur_lame_stocks] 03/9/2009 18:33

I never bought these shares luckily. But I was interested in them before they turned their considerable talents to commercial property.