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HRCO Hirco

20.25
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Hirco LSE:HRCO London Ordinary Share IM00B1HYQS19 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 20.25 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Hirco Share Discussion Threads

Showing 1326 to 1347 of 1675 messages
Chat Pages: Latest  55  54  53  52  51  50  49  48  47  46  45  44  Older
DateSubjectAuthorDiscuss
03/6/2011
08:15
Can only happen in INDIA.
hvs
03/6/2011
08:13
I tend to agree scburbs, HRCO & UCP are both looking very attractive at current levels.

With no funding issues, significant discounts to NAV and positive business activity its only a matter of time before value is realised.

Limited downside imo, significant upside. The only unpredictable factor is how long it will take.

darlocst
03/6/2011
08:13
At least no money has been stolen

.... yet ?

envirovision
03/6/2011
08:10
All rather unpleasant, but one of those strange opportunities.

I am sure everyone was expecting them to fall this morning, but the odd thing is that they should be rising. Rude not to take advantage of the expected anomaly before the market understands the dynamics of derisking/risk discounts etc.

scburbs
03/6/2011
07:41
What a disaster.

Dilution written all over.

Can only happen in INDIA.

hvs
02/6/2011
22:29
I would add two views:

1. I don't think the Hiranandi's will bid or will be able to arrange the finance to bid.

2. i think this is going to be a long process; perhaps between 18 months to 3 years before either we see a bid or the first dividend. I would be pleased if it was shorter but I think it is only prudent to assume a long game with the family - perhaps even involving court action. That is the basis upon which I have invested some "hope" money here but I am not getting my hopes up for a quick solution. The placing seems to confirm this is going to be drawn out.

kenny
02/6/2011
22:20
Agree.. a rights issue could have been a disaster.. firstly news tends to leak to hedge funds who short the stock and with HRCO the share price could potentially have sunk to 20p given the markets - disaster and secondly given the large number of PIs the administration costs would be huge..

This palcing gets my thumbs up and in a months time with the uncertainty now removed this could easily be 100p+

pjj71
02/6/2011
22:13
I agree with the comments in relation to HSBC. However, note they have only bought back about half of the shares they sold so it does not make sense for them to have sold just to buy back at a lower level.

In particular, the 1.779m shares they subscribed to give a profit of about 11p or £195k. That may be a large amount but £195k is hardly the sort of sum that HSBC would put their reputation at risk to gain. More interesting will be to see how many Weiss took up and who else may have joined the register. Standard Life seem to have taken up a pro-rata 31% in order not to be diluted by the placing.

Quite frankly the difference between 50p and 62p to private shareholders is small in the context of the fact an investment in HRCO is a "all or nothing" type investment e.g. we are either going to lose most of our money or multiply it by some number. A rights issue would have been expensive and may have left many shares with the underwriters.

kenny
02/6/2011
22:07
Whether 50p or 60p dilution to NAV would be pretty much the same.. fact is hrco needed working capital and these guys have stumped it up.. its great news for existing shareholders as it removes all uncertainty and means that we WILL be around to get our preferred dividends and see the NAV realised.. (unless of course the Hiranandi's make a bid!!!)
pjj71
02/6/2011
21:52
The deal at least means we have NO issues over working capital.. never nice to see stock issued at a discount but IMO this removes a substantial amount of uncertainty!!!

Also may prompt the Hiranandani family to make a bid sooner rather than later!!

pjj71
02/6/2011
21:30
Not the first time HSBC have been involved in controversy re: Hirco

January 7, 2009
HSBC under attack over fees charged in Hirco Developments plan

hugepants
02/6/2011
20:57
This placing is an absolute disgrace. The new shares are being issued to cronies at discount of 93% to last stated NAV. What investment trust would be allowed to get away with that!

HSBC are advising on the deal, and guess who have been allotted 1.8million shares at the giveaway price? None other than HSBC! It was of course HSBC who were big sellers of the stock at higher levels, contributing to the downward pressure on the price in the first place.

Why have pre-emption rights been so blatantly disregarded? As a member of the Association of British Insurers, Standard Life is committed to the principle of all existing shareholders being given the opportunity to participate in new equity issues. Not in this case apparently. Standard Life happy to take 3.5million for themselves.

NAV reduced instantly from 707p to 550p at our expense. This misappropriation of existing shareholders' funds must be voted down, and replaced with a fair and just rights issue.

rj allen
02/6/2011
20:42
It's fair to describe that as rank, but not unexpected.

Any question marks over HSBC selling in the market in order to buy shares at 50p!!

The impact should be that there is no deal to be done with Hiranandani. The company has taken its dilution hit there is no need for freebies for Hiranandani now and it is time to play the development through.

Shares now increased to 100.5m with NAV at £5.49. Despite the dilution it makes the shares more of a buy than they were.

scburbs
02/6/2011
18:13
Thats about 30% dilution. Now 100 million shares in issue. Disappointed it was not at least 60p but you'd think there is now a floor on the share price.
hugepants
02/6/2011
18:11
Hirco today announces that it has raised £12 million before expenses (approximately £11.1 million net of expenses) through a Placing of 24 million new ordinary shares (the "Placing Shares") with a nominal value of £0.01 ("Ordinary Shares") each at 50 pence per share (the "Placing Price") with both existing shareholders and other institutions. The Placing Price is at a discount of 21.6 per cent. to the mid-market closing price of 63.75 pence per Ordinary Share on 1 June 2011.

The proceeds from the Placing will be used to implement the Company's strategy and to preserve long term value for shareholders.....

hugepants
26/5/2011
09:33
Expecting much better news later on in the year regarding pricing at Panvel. They have no remaining units left other than premium apartments (penthouse style). They expect new buildings to be released for sale later on this year. Base prices are expected to be 5000rps a sq foot. This is up from the last quoted rate of 4100rps. Might even encourage the Hiranadani's to hurry along the process due to big profits being on the horizon.

Panvel pricing at other developments has risen very sharply since the airport confirmation was announced. Indiabulls Greens development is at 4500rps from 2900rps being quoted as recently as August of last year.



and

horndean eagle
24/5/2011
22:13
Profit of £27.2 million or 36p per share (2010 first half profit £36.0 million)

Net Asset Value increases to £7.07 from £6.71 per share


Da Faaamily trying to get a merger on the cheap but Hirco not interested. Good!

hugepants
24/5/2011
17:02
Have bought a few more now the gloves are clearly on...

Cant wait for round 1 to begin....

Will be interesting to see if the HB start to hoover up shares now their other plan has fallen off the proverbial cliff!!!

Glad to see the Board finally working for the shareholders and great that the working capital requirement is now so low..

It wouldn't surprise me if we see a small convertible loan issue to Weiss or Standard Life which would remove all capial concerns and give our Board an even stronger hand...

pjj71
24/5/2011
11:46
Hirco NAV increases
lbo
24/5/2011
06:49
Hirco plc

24 May 2011

HIRCO REPORTS INTERIM RESULTS

FOR THE PERIOD ENDED 31 MARCH 2011

Profit of GBP27.2 million (2010 first half profit GBP36.0 million)

Net Asset Value increases to GBP7.07 from GBP6.71 per share

Continued progress in construction

Strategy Update

Further Board Changes

LONDON - Hirco PLC (AIM:HRCO), the AIM-quoted real estate investment company, today announced its interim results for the six months ending 31 March 2011.

Highlights

-- As of 31 March 2011, Hirco's Net Asset Value ("NAV") was GBP7.07 per share, up 36 pence from a NAV of GBP6.71 per share as at 30 September 2010 essentially due to the accrual of the preference dividend.

-- For the six month period ended 31 March 2011, Hirco reported a profit for the period of GBP27.2 million, representing earnings per share of GBP0.36 based on 76,526,984 shares outstanding.

-- Hirco's investment in the four developments - Chennai Residential, Chennai Commercial, Panvel Commercial, and Panvel Residential (the "Projects") - was approximately GBP350.8 million when made. The last valuation conducted by Jones Lang LaSalle Meghraj was as at 30 September 2010 at which time Hirco's NAV for accounting purposes was calculated as GBP513.5 million.

-- As of 31 March 2011, sales for the Chennai developments relates to approximately 1.83 million square feet and sales consideration collected of INR 3.8 billion (approximately GBP52.3 million) on total sales contracts of INR 7.6 billion (approximately GBP 104.7 million) (49.96% of total contract value) was INR 4,167.

-- As of 31 March 2011, sales consideration for the Panvel developments had been accepted on approximately 2.69 million square feet and sales consideration collected of INR 1.7 billion (approximately GBP23.2 million) on total sales contacts of INR 13.1 billion (approximately GBP180.7 million) (12.85% of total contract value).

nilip
21/5/2011
18:05
Just wonder if Weiss are gathering up the rest of the HSBC shares.
praipus
21/5/2011
18:01
QVT I think are still in
praipus
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