Minerva Share Discussion Threads

[tara7] 09/6/2011 08:54

NTA on the move, End game in sight.?

[sami69] 08/6/2011 12:14

Still buying going on.. HBK have been increasing their long CFD @1.17. Hopefully because they belive there is money to be made at this price... (more than extra 3.5p)

[ianio5691] 07/6/2011 14:46

Baldy....is this the same person that is advising on HMV...???

[baldeagle5] 07/6/2011 12:16

Sami - my man tells me we still expect a 130p offer from Kirsch. Although his timing is more than usual out this time ;-)

[sami69] 07/6/2011 10:23

Baldy

What's the latest.. has Kirsh now got into bed with our offeror? no news?

[ak47high] 06/6/2011 08:07

With the run I have had recently it makes sense for me to sit on my MNR shares.

[bisiboy] 05/6/2011 17:18

still here but thinking of taking my profit
just short of other ideas at the moment but may revisit dci after results

[ianio5691] 05/6/2011 14:40

Anyone else still holding....or has everyone moved on?

I'm still in...I want my 120p ..:-)

[targatarga] 05/6/2011 12:47

Nothing i can see in the press this weekend. They obviously run a tight ship.... imho

[baldeagle5] 03/6/2011 16:22

My source has just relayed that the reason for the Jupiter purchase was their expectation of Kirsch bidding 130p - fits with the announcement he was expecting.

The official announcement of Kirsch's intent should be imminent - could even be after the market closes.

[baldeagle5] 03/6/2011 10:58

Sami - hold. Most definitely.
You are underwrittent 3.5p higher and I am assured that 130p is on the table fro Kifin. Jupiters purchase was technically allowed as they had not formally bid at the point of purchase. It was a clever move and shows the value in the co.

News on Walbrook is imminent.

[fireplace22] 03/6/2011 09:07

Agreed, MNR have done well but only because of the price inflation in prime London. I was just trying to higlight what I see as a failing of the MNR management who still appear not to be acting in the best interests of it's shareholders.

[david77] 03/6/2011 08:59

Northacre had done earlier projects with joint venture partners providing the finance, but Northacre did all the work and got peanuts out of them. They had decided that projects weren't worth taking on unless Northacre also made a buck if the project went well. Minerva have done very well for their shareholders from this project.

The Inland funding partner had to show that he could underwrite the West Drayton land purchase (£24.5 million) but he could still deposit that elsewhere so getting both deposit interest plus his 10% of the profits from West Drayton - another few £millions. I am pretty sure that the funding partner is also an Inland shareholder so it was in his interest to see Inland fully incentivised to progress this project.

[fireplace22] 03/6/2011 08:43

david77 I'm not knocking NTA, I'm a holder as you are, but you have to agree that had Minerva any idea of the serendipital profits arising from the Lancasters there is no way they would have granted such generous terms.
NTA at the time was capitalised at about £6M they wouldn't have the clout to negotiate the large sums required for the development, that was down to MNR and they took the risk. You obviously know more about the property sector than I, but NTA have had far more out of the Lancasters for their little (financial) input - they have been paid separately, have they not for their architectural services etc.
To illustrate NTA's importance, if the potentilal profits were small, NTA would only be due to a paltry proportion of this (5-10%). That more fairly represents the level of risk of each of the co-developers. NTA have played a blinder.

[sami69] 03/6/2011 08:41

baldy - what say your sources? hold or fold?

[david77] 03/6/2011 08:32

"fireplace22 - 2 Jun'11 - 16:29 - 8361 of 8364
... and not negotiating away about £100M in profits to the minor partner in the Lancasters whilst MNR took on the majority of the financial risk...."

The Lancasters is now fully funded by Deutsche Bank so Minerva are getting 50% of the expected profit for a short-term backing for the company doing all the work.

Incidently, I also have Inland shares. They have a similar arrangement with a financing partner. Providing Inland pay all outstanding sums when due, then the partner gets 10% of the profits so Minerva have done very much better than Inland's partner.

[quepassa] 02/6/2011 19:20

you may wish to find someone else to discuss the historic share register with.

my focus is on the current situation, the bid and the share price

i have nothing further to add to this dialogue which - for me at least- has now run its full course.

good luck to you.


QP

[fireplace22] 02/6/2011 16:50

QP, Those brave investors who bought 2 years ago at 7-8p were buying the shares offloaded by the the same 'very professional' institutions you respect so much. And what about their clients interests at that time?

[quepassa] 02/6/2011 16:45

On the bright side, those brave investors who bought MNR this time two years ago, have seen a whopping 1,200% return on investment.

Not bad. No need for greed.

At least the management managed to keep the company afloat with its humungous debt-pile during the troubles.

Laudable, I suppose, that management didn't succumb to Kifin's first bid of 50p. - Grateful for small mercies.....

Good luck to you.

ALL IMO. DYOR.

QP

[fireplace22] 02/6/2011 16:29

Yes, sad isn't it - well below NAV and considerably below what should have been expected had the assets been revalued (as they were on Kifins bid) and had the board done their job properly in letting the London offices and not negotiating away about £100M in profits to the minor partner in the Lancasters whilst MNR took on the majority of the financial risk. Wonderful management to whom I am eternally grateful for their capitulation to this measly offer.

[quepassa] 02/6/2011 16:22

Not worth a farthing?

Actually... in this case....MNR board recommendations are worth 120.5p per share to each and every share-holder.

Good luck to you.

ALL IMO. DYOR.

QP

[baldeagle5] 02/6/2011 16:18

Late day buyer again.... 2 days off so far with my announcement...ho hum!

[fireplace22] 02/6/2011 16:07

And me what? I dont happen to think institutions make the best investment decisions, this share transfer was probably all agreed on the pre bid chats that Jupiter el al have had. They would have had to have been confident if 120p was doable ie acceptable to the main insts. before they went public. Maybe Kifin also concurred I dont know, but I sure as hell would like to know how this pans out. As for MNR board recommendations - not worth a farthing.

[quepassa] 02/6/2011 15:57

Thanks.

Et toi?

QP

[fireplace22] 02/6/2011 15:52

God, you're like a stuck record.