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Real-Time news about Inveresk (London Stock Exchange): 0 recent articles
|theoriginalred: So they did ! Have you also noticed the large number of shares that have changed hands over the last week or so ? Are there deals being done do you think ?
I'm wondering if the board and some of the shareholders are looking to split up the Company so that the land in Scotland is separated from the land in England (ie Wells). To my mind the chances of developing the land in Scotland are currently far higher than in England especially given the somewhat unique nature of the Wells site and its locality.
My informants tell me that the board seem to have woken up at last and are desperately trying to reduce corporate costs by reducing the number of HQ employees to the absolute minimum and also moving to close the Scottish office (should have been done 5 years ago).
They seem to have assumed that when PM1 was shut that the Company would become profitable again and of course they were wrong (its still the bank's fault of course). However, PM2 could become a nice profitable unit under the correct management and cost structure. Get rid of AW, GT etc and one would go a very long way to achieving that aim.
All I know is that there is no point in selling shares for nothing and all one can do at the moment is hang on and hope that sense will prevail and the position of the Company improves thus pushing up the share price.|
|theoriginalred: Q12 - My apologies I think that you are on our side after all ! I predicted a similar outcome months ago when it became clear that the board were making no attempt to support the share price and I still think that's what they will do.
They don't need to allow that company to go into administration they could buy it for less than current market value by bidding for the shares and the current value is much less than the latest value of the land.
I still think that the board are a bunch of deceiptful incompetent crooks who have conned shareholders, employees, customers etc and I just cannot understand how they have been allowed to get away with it.|
|theoriginalred: Q12 - I see that the board have got yey another mole on this BB. What you like or don't like doesn't matter.
The fact is that Inveresk has been run by a greedy incompetent bunch of crooks for the last few years who have done their very best to screw both employees and shareholders. I see the share price has broken yet another record.
Also the chairman's and MD's reports are full of inaccuracies and lies. Even if the Chinese project goes ahead there will be no one left at Inveresk to run it and meet Inveresk's part of the deal.
So Q12 get real yourself.
By the way if it goes to tribunal the Company do not have a hope in hell of winning and will end up in administration. I think they will pay up but, only when they absolutely have to ie the day before the hearing in February. Due to the delay the very least that AW and his cronies could do would be to pay all the redundant employees interest on the money they owe them - 10.0% would be a fair rate.|
|mjcrockett: q12, You probably could still make a case for a valuation around 28p if everything went very well and they can stop the losses very soon. I believe a more realistic target is in the range 18-22p. The other impossible question is the timescale. My guess is 2 years to reach my target, but I would expect a significant improvement in the share price in 2008.
|theoriginalred: I see the share price is still dropping. I wonder when the board will make its move to buy up the shares (3.0 p ?) because at the rate they are being allowed to drop it won't be long before they get there !?
What about shareholder value we're not getting any !|
|mjcrockett: The recent fall in the share price is not really management's fault in my view. OK, they could have given shareholders more information at times, but the fall is on low volume and is probably just a few PI's jumping ship. I went to the AGM a few weeks ago and was reasonably satisfied that management are doing the best they can in difficult circumstances. I am confident that the value here will out eventually - even bought a few more shares today.
|theoriginalred: Try all the Inveresk employees who own shares but I doubt you'll get very far with the board because they run the Company as if its their own.
In fact they may be allowing the share price to drop so that they can buy back the shares cheaply.|
|cisk: MJ, didn't even realise that there was an AGM yesterday...
Were they upbeat? Any news on timescales for property disposals?
I've heard net asset values upwards of 100% of current share price. Anyone concur with this?
|mjcrockett: The following paragraph caught my eye. It was in a property 'Special Report' email sent out by UK Analyst:-
'In Scotland, Edinburgh (and, to a slightly lesser degree, Glasgow) was the first to benefit from the house price boom at the start of this decade. As usually happens when a city surges ahead, a ripple effect follows with property buyers moving out to those areas with lower house prices but good links back into the city for work and leisure. As the market levels off and stabilises, the city then pushes ahead again. Edinburgh house prices have just resumed modest growth with a recent quarterly rise of 6.2%. this is above the national average.'
This is good news for IVS with their 58 acres of prime brownfield sites being within commuting distance of Edinburgh. However, while the company's assets are appreciating in value the share price has been falling - down another 0.5p today.
|mjcrockett: Not surprised to see some selling this morning. IVS have come up from around 10p at the end of last year and a few people will be taking some profits.
We will get a much clearer view of the company's position in the final results once the exceptional costs of the mill closure are out of the way. However, I suspect that the share price will not drift far in the meantime, because the share price is so far below the asset value.
Inveresk share price data is direct from the London Stock Exchange