Oakdene Homes Share Discussion Threads

[davidosh] 23/1/2009 02:36

Not to forget that NW was actually a director since last June...

Nigel Wray has notified the Company that on his appointment he is interested in 7,820,513 shares in the Company, representing approximately 15.27 per cent of the total voting rights of the Company.




Chief Executive of Oakdene, Carl Turpin, commented:

'We are delighted that Nigel Wray has accepted appointment as Director. Nigel has been a substantial shareholder in the Company since our listing on AIM. He is a hugely experienced investor in property and many other fields and I am certain that the Company will derive great benefit from his experience and expertise.'




At the peak his shareholding would have been worth in excess of £15m. He even raised his holding in the placing last year. In that situation you do have to agree that he did have an interest in keeping the company afloat !! The debt must have been too large for even his ability to get it secured anywhere in these markets. I do hope his shares were all paid for and not linked to the loan that he advised the market about yesterday at DOM otherwise there could be a house of cards that may collapse.

[abc125] 22/1/2009 22:19

troll

You're right, Nigel Wray has had a string of failures since the start of the bear market.Small caps with weak business plans/strategy have been punished, and punished hard. But he may have a winner in LIN...imho.

[the troll] 22/1/2009 22:13

someone tipped it on 'share crazy' with a 70p target price; Useless, you may as well stick a pin in !

[cockneyrebel] 22/1/2009 21:46

I was saying these were a short well before the credit crunch. Any co that delays it's results till the close on New Years Eve sort of tells you something.

Badly run imo - but good news for other builders - one less competitor.

CR

[slapdash] 22/1/2009 21:29

made me laugh the directors of this company.. I think the chairman was prattling on about how it was a real "partnership" between them and their bank in one of the recent results statements..... plonker...

Slap

[davidosh] 22/1/2009 20:12

The owners of the recently purchased flats in Newhaven and Swaylands will not be happy as lots of work may remain unfinished now....I wonder if another developer will step in or shareholders will just see a related party involved in a phoenix style situation.

[slapdash] 22/1/2009 19:16

once a Turnip always a Turnip CEO... Turpin's second bust.... what a complete plonker having so much debt.....

Well his wife certainly decided to divorce him at the right time anyway....

Slap

[the troll] 22/1/2009 17:46

administrators tomorrow; & to think I, for one, got fooled into believing Nigel Wray was a shrewd businessman. NOT any more.

[diku] 24/12/2008 14:23

some of these apartments are matchbox size...

[slapdash] 23/12/2008 11:48

space.... so what... they could build loads of flats no one will buy... NAV is a bull market measure... I'm surprised at you!!!!!!!

Bottom line is these guys have no cash.... NAV is dependent on building and then selling apartments.... or if it is on historical cost which is how it is put in the books it is dependent on no land value writedowns.... but as Oakdene under the moronic stewardship of Turnip bought at the top of the market that is highly unlikely.... i.e. flats in Plymouth etc..... overpriced flats in the home counties.... Swaylands etc...

Slap

[spaceparallax] 12/12/2008 13:06

I wonder what our NAV is - obviously debt levels are high, but land bank IS healthy.

[spaceparallax] 11/12/2008 17:03

Slap,

Which Muppet do you think our Carl would be?

[slapdash] 05/12/2008 14:08

why don't hte banks just take over????? Why keeps muppets running the show who got them into this mess?????? If I was with the banks I would wipe out equity holders..... get a recover, solvency person involved and run the business to get money back for the banks.... Turpin is so awful at running companies his businesses always seem to go bust....

Slap

[huntie2] 15/10/2008 10:09

.....but still they creep back up....

[davidosh] 13/10/2008 21:10

More than just Nigel Wray as a link

[the revealer] 13/10/2008 19:52

Strong Sell!!!

As a large investor has said on another bulletin board -

- Highly geared
- Serious cash flow problem
- Breached banking covenants
- High court writ
- Operating in a dead market
- Failed share placement

What more do you need to hear?

[williebiz] 13/10/2008 19:46

Old dogs, spots

[the revealer] 13/10/2008 19:43

The link with Myhome is Nigel Wray. He was a large shareholder in Myhome and even his influence with the banks couldn't save them or maybe he didn't try?

Either way Myhome made the same announcement after having broken their banking covenants and look what happened to them!

[davidosh] 13/10/2008 16:23

What is the link with Myhome please ?

[slapdash] 13/10/2008 15:56

especially at the ITV dispute means that if Oakdene continues trading it will be liable to ITV firstly......

Thus the banks will be keen to make this think bankrupt so that they have first call on assets rather than the firm being forced to make a payment to ITV by the courts while it is still "allegedly" solvent...

Thus in my view the banks will foreclose on the whole company pretty soonish.. cash flow now will be very bad and in that situation any bank would want to make sure that it is the one controlling the firm

Look at Myhome... could all happen very quickly.... (Myhome just offers an example of a company which said all well.. we will raise emergency capital but their bank called in their loan and so they went insolvent).

Slap

[the revealer] 13/10/2008 15:12

Where is the announcement regarding Oakdene's negotiations with their Bank regarding their loan terms.

On the 2nd October in an interview with The Times Turpin said that he would be making an announcement in the next 7 days.

Not looking good!!!

[slapdash] 11/10/2008 18:47

I think Oakdene will probably not be able to sell its flats going forward. Newhaven for one is in a second-tier location and it is a bit of a dump.

Slap

[whiterussians] 09/10/2008 10:59

migrating Bird study, Riverside ecological study flood assessment risk and
a number of other site specific reports. yada yada as though Mr Turpin is a bird man

[the troll] 09/10/2008 10:55

they're saying they won't have to ( without merit ).