Off-plan Fund Share Discussion Threads

[barnetpeter] 23/2/2009 18:26

Tara - if they lose the 4.25m, then how is it 85p? Thats just silly. Good spot though - take a bow for highlighting this one.

Bought a few today as I can see the upside here ...but not 85p. Will watch for results before I get really involved.

[tara7] 23/2/2009 11:31

Touch 2002 4.25m inc the deposit. So the same amount around 4.5m to come back on a yes vote, [exc Wallington] . As we know ALL of the last deals have fallen through, so me thinks the same will happen at Wallington, if so, 85p here we come.

[touch2002] 23/2/2009 10:57

barnetpeter - the only property they are still on the hook for is the Wallington set, the rest have seen developers fail and return deposits to the company. They shouldn't need to borrow, but they may lose their £4.25m ring fenced cash and the £1.25m they paid in deposit.

Results will be interesting

[jonnyboy1] 23/2/2009 09:04

picked up 25k this morning, got to be worth a punt.

[tara7] 23/2/2009 07:30

They do not need to borrow any cash,they have cash. Wallington has £4.25m ring fenced that is stated in the accounts. They also have property they own outright worth around twice todays share price. plus some cash.

[barnetpeter] 22/2/2009 22:26

The balance sheet is very stretched. The company has agreed to buy all sorts of property and there will be penalies if it does not go ahead. The value is nothing like suggested on this thread. I reckon the company needs to borrow £20 million to fulfill its obligations.

Having said that, a very fair punt at this cap and I would not be suprised to see it move towards 20p or so. Plenty of other property companies around with similar discounts.

[touch2002] 22/2/2009 21:54

randsys, the bulk of their cash is not accessible (held as collateral) until they start to sell houses on the Wallington devt. The issue they have is that they committed to buy 118 flats off plan for £25m and the market isn't convinced that they can exit them for a similar price. Mkt cap is £1.4m, NAV is about £8m, so whether its interesting depends on how positive or negative your view is on the short term prospects for the market for flats in Surrey.

Directors would also need to be comfortable that they could wind up the business in an orderly, solvent manner before paying cash to shareholders.

It may well be a steal - +ve Director comment re: Wallington progress would make me a buyer. Otherwise it looks one for the sidelines

[randsys] 22/2/2009 20:55

I can't help thinking that if there is 85p up for grabs why isn't the share price much higher? To me the risk is in the pricing. If not, why is the price not much much higher? What's the catch? And there must be one otherwise the price would be much higher surely? 12.5p for 85p of cash - too good to be true IMHO, there must be something you're not telling us?

[borchardt] 22/2/2009 20:38

lets hope so - bought into this story looking for revaluation. If news is what we are hoping for then it will fly - maybe I will pick up some more if news is positive and they dont move too quickly.

[tara7] 22/2/2009 19:07

Big week ahead, with results, and then the AGM and EGM for shareholder vote to shut up shop, and return up to 85p cash per share. Results will in my view be early part of the week, cos they have said AGM and EGM are in March. With the largest shareholder, [Kaupthing Singer, and Friedlander] in administration meaning they HAVE to vote to get cash back, is a very good sign. Last accounts showing 85p could come back per share, these could fly on results.

[tara7] 05/2/2009 18:00

Wins dropped the bid after they got 10k back in to match part of yesterdays 25k buy at 15p. This share will in my view do well, cash in bank , and property way, above share price. Plus the big shareholders are bound to vote to close it down to get cash back, that could be 85p plus. At the least it should be half that in my view. This year is the first year shareholders can vote to sell up, who is going to say no, when they can get a 300-600% rise in the stock they own by voting yes.!!!!!!!!!

[borchardt] 05/2/2009 17:38

Perplexed by low price for this - Looking forward to results and some action to re-rate share.

[tara7] 05/2/2009 14:18

Have you seen todays buying.?

[tara7] 05/2/2009 05:29

RNS says results out this month, looking great this one.

[keya5000] 04/2/2009 20:34

Tara, any ideas when any more news will be out? Are we expecting any by month end. Just seems to have gone a bit quiet, but the three late buy's today may be a tell?

[tara7] 30/1/2009 19:55

Note it was the french who sold the last lot, ALL the french have now gone, big thankyou from me, they buy at 95p and sell at 12.5p.!!!!!!!!!

[tara7] 30/1/2009 19:53

Accounts out in Feb, so, monday onwards.

[tara7] 30/1/2009 19:52

Credit agricole cheuvreuy int ltd, had 400,000 shares. So looks like yesterday was a buy at 12p, and the sell infact came today at 11.5p. So we have a buyer, and next week will will find out who. Buy back, by OPF would be the best news.

[mister md] 30/1/2009 19:39

who is French ?

[tara7] 30/1/2009 11:26

French sold out yesterday at 12p, note, they got that amount in that size 400,000. !!!!!!!!!!! .Thats £48,000. Why would the MM pay that price? In my view a buyer is lined up. Also note best price the last big sell got just 5p from the MM.

[mister md] 23/1/2009 13:40

funny how the ramping stops when share price declines...!

[tara7] 21/1/2009 13:13

Re the AGM, The RNS dated 8/01/09 tells us the finals are out in Feb 09, the AGM will be at least 21 days after that, so could be 22 of Feb but March seems to be the case. Last year results were in March with AGM the next month.

[brando69] 21/1/2009 12:52

pump over

now

DUMPING

[love it] 21/1/2009 11:18

Not a trader that is for sure!

Lets hope the seller gets cleared. If they drop it enough I will buy has to be worth the wait a few months for the run up to results.