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Pochins Share Chat - PCH

Share Name Share Symbol Market Type Share ISIN Share Description
Pochins LSE:PCH London Ordinary Share GB0006926017 ORD 25P
  Price Change Price Change % Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00 +0.00% 44.50 0.00 0.00 - - - 0 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 78.0 -6.9 -35.2 - 9.26

Pochin's Share Discussion Threads

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there's a development-land surplus of £3.4m though ( see RNS of 14th August last year ) NOT accounted for ( because it offends some arcane rule or other ) but does mean the ( adjusted ) tangible NAV = 77 p which I'm NOT happy to sell for 45 p & await the Chairman's justification letter with interest.the troll
Yes, but at least they have got the price up from below 40p to 45p. There is also a share alternative for those brave enough to hold this as a private company. The net asset value is only c60p - c£12m divided by 20m shares. I only have a few held for many years. Happy to just take the 45p and exit, but if I had a bigger position I would not be as happy.topvest
re; 9.6.2014 RNS; selling 77 p of net-tangible assets, inc £1.40 pps of appreciating commercial property, for approximately 45 pps ? ? my my, it will be interesting to see how the non-execs. ( acting in the interests of all shareholders remember ) justify a 58%+ discount to NAV in a recovering sector.the troll
......blah, de blah, de blah....., 112 days of 'discussions' & absolutely zilch to show for them. what the hell's going on ?? if this Nicholson isn't willing / able to meet the NED's price, show him the door & let's put an end to these nauseating 4 weekly extensions.the troll
interim profit ( RNS 29th Jan. 14 ) + net assets ( adjusted for 14th Aug. 13 RNS - surplus on development land ) of 77 pps ?? why would I ( or any other holder ) sell out now for 40 p ?? it looks to me ( can always be wrong, of course ) NED's not willing to recommend & Monday's RNS will either confirm this or further 'talks' ( not sure how many extensions can be granted for this, though ? ). they can always go 'hostile', but this Nicholson would first have to resign his Directorship to avoid a conflict of interest ? approach was badly timed ( too late ) & richly deserved to fail. co's cleaned-up & positioned for gradual recovery, especially the investment property; my interests will be served by staying aboard ( all IMHO ).the troll
Well tomorrow is the deadline. With underlying earning of £2-3 million it's pretty clear that this is opportunistic at a time when markets are improving. Needs to be £10m+ to be successful in my opinion. Given central costs are £1m I suspect these can be at least halved on going private...clear to see the logic from management's perspective, but smaller holders will fair poorly. I think the well know private investor, John Lee, holds a few of these. Be interesting to hear what he thinks...I suspect this is one for ShareSoc to take up!topvest
I think an agreed bid is likely. The bidder must have been 100% sure that 40p would be rejected. They have just done it this way so that they pay 50-55p rather than 60-70p. Happy to cash up the small number I hold and move on.topvest
update; the potential bidders control 42.11 % of issued share capital ( see RNS of 23rd Dec. )the troll
if they persist with 40p & the NED's blow them out with 'not in the interests of shareholders......seriously undervalues the business, blah, blah......', will they go hostile ? it's possible; they have c. 44 % & need another c. 7 % to secure control of the board. interesting, we'll know more Monday ( ie, put up or shut up day )the troll
The indicative offer of 40p hasn't been agreed with the NEDs, so I suspect 50p or so might be the recommendation. Still very low, but happy to get out of this dog to be honest.topvest
They have to be joking... "The indicative offer received is below the closing mid-market price of a Pochin's share of 41p on 6 December 2013." and just as the market picks up. Greedy!!! Since when is less than half of book value anything like acceptable.topvest
I looked at this a few years ago. Yes, the asset backing is tempting, but I will never buy PCH, as the various family interests hold about 80% of the stock between them. There's a fashion for de-listing and this looks to be a prime candidate.jonwig
This share was beloved of John Lee. It is quite a disaster. Its market cap is £5M against assets as of nov 2011 of £22m. A little turn in the construction world which if history is anything to go by must be coming could really turn these around. I hope when I look back at this post that I am correct!hybrasil
Think we might here news on disposal soonbalcony
We is on fire now.hvs
They own Midpoint 18 and if this gets the go ahead they may even get to build it - however a lot of local protest: http://covantaenergy.co.uk/uploads/28/File/newsletters/Chesh%2020080208aNewsletter%20LoRes.pdf Down side one market maker bloody awfull spread, in the past it has been quoted at £1.00 - £2.00 !!!!walker10
survivor company just about sums it up. I don't know if the new CEO will make much difference or not, a little about it here though http://www.manchestereveningnews.co.uk/news/business/s/1108785_pochins_new_boss I've no position in this one 38003800
Sounds like Pochins are holding their own and generating some cash flow in very difficult markets. Still looks like a survivor company to me.topvest
With a MCap of £13.5m and net assets of £48.6m (all tangible) this ought to be a recovery situation. But ... there's the gearing, forecast (broker) of losses in 2010 and 2011 and over 50% of the shares are 'family' (or families).jonwig
Broker downgrade yesterday (Charles Stanley). Some horrible words and phrases within that company statement. "Challenging".."difficult".. "cautious".."delays".. any one of which would sound like a warning bell.m.t.glass
'Monster' new warehouse is underway: http://www.manchestereveningnews.co.uk/business/s/222/222419_monster_new_warehouse_is_underway.htmlforensic
Disposal RNS Number:7105R Pochin's PLC 23 September 2005 Pochin's PLC Sale of Property at Crewe Green Appointments to the Board The Board is pleased to announce that it has today completed the sale of a major development property at Crewe Green to a private consortium for a consideration of #30 million, payable in cash at completion. The property is a 790 bed purpose built on-campus hall of residence that will be occupied by Manchester Metropolitan University. The proceeds from the sale will be used to repay the #19 million of bank facilities used to finance the development, with the balance being re-invested into the Group. The Group will, in the current financial year, realise a profit of approximately #6 million before tax, having realised approximately #1.5 m in the year ended 31 May 2005. David Shaw, Chief Executive, commented: "We are delighted with the success of this project, which represents further progress in this area of the Group's business." The Board is also pleased to announce the appointment today of John Edwards, Company Secretary, as Group Finance Director, together with Nicholas Fry and Michael Chadwick as Non Executive Directors; Mr Fry will join the Audit Committee. A further announcement will be made in relation to Listing Rule 9.6.13 in respect of each of Mr Edwards, Mr Fry and Mr Chadwick. 23 September 2005 Enquiries: John Edwards 01606 833 333 Pochin's PLC Philip Davies 020 7739 8200 Richard Thompson Charles Stanley & Co. Limitedforensic
Moving up again.forensic
Chat Pages: 2  1

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