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OPF Off-Plan Fd

6.50
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Off-Plan Fd LSE:OPF London Ordinary Share JE00B5NFKB77 ORD SHS NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 6.50 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Off-plan Fund Share Discussion Threads

Showing 326 to 348 of 400 messages
Chat Pages: 16  15  14  13  12  11  10  9  8  7  6  5  Older
DateSubjectAuthorDiscuss
23/9/2009
13:02
£5.5m MK - The company has no debt £5.2m in cash, so £4m of easily sold residential properties which OPF purchased with heavy discounts for free ;)

Could bump up at anytime plus now that OPF is free of Cannon House the longer Nigel Henry holds the more it looks like he's going to mount a bid, if not he has the votes to progress a special dividend... say 40p imho

DYOR

grlz
22/9/2009
17:33
Thought we may have ticked up with todays confirmation - obviously free money is not racey enough for some people who must be busy elsewhere.
borchardt
22/9/2009
13:15
Still loaded with free value, good luck all.
tara7
22/9/2009
12:43
THE OFF-PLAN FUND LIMITED

(the "Company" or "Fund")

Update re Rescission of Purchase Agreements in respect of Canon House, Wallington

As announced on 14 August 2009, the Fund has exercised its right to rescind each of the purchase agreements entered into between the Fund and Henry Homes (Wallington) Limited ("HHW") in respect of the 118 residential units which were to comprise part of the proposed Canon House development in Wallington (the "Agreements").

In this previous announcement it was also stated that the Fund would seek to secure the return of sums outstanding owing to the rescission of the Agreements. As an update in this regard, the Fund is pleased to announce that Bank of Scotland Plc ("BoS"), as lending bank to HHW, has acknowledged the rescission of the Agreements and that the Fund has today received the sum of GBP3 million previously held in escrow by AIB Bank (CI) Limited ("AIB") as collateral for a completion guarantee provided by AIB to BoS in respect of the Fund's former obligations under the Agreements.

In addition and as previously announced, the Fund is also entitled to have the deposits it paid under the terms of the Agreements, amounting to GBP1.1 million in aggregate (the "Deposits"), repaid by HHW or in the event that HHW is wound-up, repaid, to the extent that any amount of the Deposits remain outstanding, by Zurich Insurance Company (trading as Zurich Municipal) which has guaranteed the return of the Deposits to the Fund in the event of such a winding-up.

The process to recover the Deposits has commenced and there will be a further announcement in due course, once it is possible to determine more accurately the likely timetable for the conclusion of this process.

borchardt
18/9/2009
14:51
Tara,

Can I add my thanks to those already posted .

Your posts alerted me to the possibilities of this company and I have benefitted .

Many thanks

par

par555
17/9/2009
05:29
In effect the city boys now want to get in on cheap property, so could see a placing here that in my view would be good for shareholders. For rapid gains NTA may be the share as the big boys want to get in now. Good luck all. [a market cap of 7M with 1.5BN of sales is wrong, but hey what do i know.!!
tara7
16/9/2009
22:24
Tara,
Yes, I too read your posts and invested a little here, so my thanks.
I'd appreciate your view of how new city money could be to our further advantage long term.
I'm intending to hold for the foreseeable future.

hpotter
16/9/2009
17:07
Thanks and good luck. New city money may be placed here could be good long term.
tara7
16/9/2009
15:38
Tara I saw your original posts and you were spot on with your analysis. You prompted me to research this as well and bought first time around 12p mark and have added to my holding over the last 6 months. Thanks and I think certain posters owe you an apology. I think we are nearing the end game now possibly to be taken out by Nigel Henry
coxewan
16/9/2009
14:48
Good to see this as i said it would. Well done just hope some say sorry for what they said about me. Around a five bagger now. Look at NTA, like here great value Market cap 7M pounds, sales over next 3 years 1.5BN thats right see company web page.!!!!!!!!!!!
tara7
16/9/2009
14:44
seems to be some movement today not easy to get hold of stock
coxewan
16/9/2009
12:02
it makes a lot of sense for Nigel Henry to purchase this outfit

DYOR

grlz
14/8/2009
15:36
I can't believe the lag on the news and the share price reaction - its like the MMs love giving money away, hope some others here took advantage ;)

Many here have known for an age this deal was dead and was in a sense confirmed by Nigel Henry's purchase of the Kaupthing c19% stake some months ago.

Purchasing into OPF has been buying into a waiting game for today's news - OPF will now see £4.1m of cash returned for potential distribution to shareholders and also the material uncertainty of the £25m liability to purchase 118 units at Canon House is now removed.

A quick breakdown to what OPF has left (DYOR)

£4.1m Cash Deposit / Escrow from the cancelled Canon House deal
£2.2m Cash in Bank
£0.8m Wimbledom House, Leicester - 6 Apartments, leased yielding 4.3%
£1.7m The Heart - 9 flats, leased yielding 6.2% (1 was sold 2/09 for £190k)

£8.8m Rough and ready total which £6.3m is cash

£4.2m MK could be further gains imho?

grlz
14/8/2009
14:39
jonny

what percentage cash has the company already got?

shaid1
14/8/2009
14:33
yep easy money here nav of 90p a large % in cash, fund will be wound up and return cash to holders. Easy 60p by monday once some one gets a calculator out
jonnyboy1
14/8/2009
14:32
yep easy money here nav of 90p a large % in cash, fund will be wound up and return cash to holders. Easy 60p by monday once some one gets a calculator out
jonnyboy1
14/8/2009
14:28
jamie

for a co with a mkt cap of 4.5mill they will be getting 3m back soon.

shaid1
14/8/2009
14:24
a decent tick up...
jamie62
14/8/2009
13:52
Rescission of Purchase Agreements in respect of Canon House, Wallington


In the interim results for the six months ended 31 March 2009, announced on 30
June 2009, the Fund stated that it had been given notice that the lending bank,
Bank of Scotland Plc, had appointed a receiver under the Law of Property Act
1925 in respect of the banks charge over Henry Homes (Wallington) Limiteds
("HHW") leasehold interest in the site at Canon House, Wallington. Owing to the
fact that this constitutes an insolvency event of default under each of the
purchase agreements entered into between the Fund and HHW in respect of the 118
residential units which were to comprise part of the proposed Canon House
development in Wallington (the "Agreements"), the Fund has exercised its right
to rescind each of the Agreements.


This rescission entitles the Fund to have the deposits it paid under the terms
of the Agreements, amounting to GBP1.1 million in aggregate (the "Deposits"),
repaid by HHW and releases the Fund from any further obligations in respect of
the scheme.


In accordance with its contractual rights, the Fund is entitled to and will seek
to secure the return of the Deposits as soon as is practicable. Should HHW fail
to repay the Deposits within 7 days the Fund may elect to petition for HHW to be
wound-up and thereby ultimately trigger the repayment of any outstanding amount
by Zurich Insurance Company (trading as Zurich Municipal) which has guaranteed
the return of the Deposits to the Fund in the event of such a winding-up.


The Fund will also, in accordance with its contractual rights, seek to secure
the return of the sum of GBP3 million held by AIB Bank (CI) Limited ("AIB") as
collateral for a completion guarantee provided by AIB to HHW's lending bank in
respect of the Fund's obligations under the Agreements, now rescinded.


This process is likely to take a number of weeks depending upon the actions of
relevant third parties and there will be a further announcement in due course.

jamie62
14/8/2009
11:16
Hi barnetpeter, could you post the news item that says the deal is off.
Thanks

beastman
14/8/2009
11:14
So the deal is off - see news today. This means they get all the cash back and the mkt cap is still well below the cash on the balance sheet. Dont think of selling below 65p.
barnetpeter
10/8/2009
20:37
Brewsters millions, trick is to buy stocks that CAN 20 bag or more. To do this they Must start with a low market cap. I have bought LEO on a three year view to get back 10 to 50 times my investment. Today you can buy the whole company for £100,000[ie all the shares].That is a stupid price for a company that has stated they are on the lookout to buy others. You may not get news for weeks or months, but one day they will fly. If they made just £100,000 profit in a year or two stock would in my view jump 10 fold. A million profit in say 4 years time and your looking at 50 times todays stock price. Always buy when others are not to get in at the right price. good luck.
tara7
10/8/2009
13:41
Tara7...very impressed with yr stock picks. ; - )
Just got myself in PXS from your tip off. Have u anymore great GEMS that you are eye balling ?
I would really appreciate your feedback. Thx mate ; - )

brewsters millions
Chat Pages: 16  15  14  13  12  11  10  9  8  7  6  5  Older

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