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QED Quadrise Plc

1.49
0.0375 (2.58%)
18 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Quadrise Plc LSE:QED London Ordinary Share GB00B11DDB67 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.0375 2.58% 1.49 1.435 1.545 1.52 1.435 1.50 7,414,909 16:35:03
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs 0 -3.09M -0.0021 -7.14 22.42M
Quadrise Plc is listed in the Crude Petroleum & Natural Gs sector of the London Stock Exchange with ticker QED. The last closing price for Quadrise was 1.45p. Over the last year, Quadrise shares have traded in a share price range of 0.66p to 3.30p.

Quadrise currently has 1,494,904,968 shares in issue. The market capitalisation of Quadrise is £22.42 million. Quadrise has a price to earnings ratio (PE ratio) of -7.14.

Quadrise Share Discussion Threads

Showing 7201 to 7223 of 11150 messages
Chat Pages: Latest  290  289  288  287  286  285  284  283  282  281  280  279  Older
DateSubjectAuthorDiscuss
31/7/2015
09:17
There has been rumours of a potential takeover bid for Quintain for some time now, and rightly so considering the value there is to be unlocked from the assets held. I believe there will a number of firm who have been watching closely and already done there due diligence over the past year. It may not take too much extradition for another bid to follow.. Also Millennium Partners (further to - Maiken) and Sand Grove Capital Management (£8m I have been told, but I haven't looked into it) buying in, low risk trade for the potential 15-20% upside that may be realised from a further bid..
hisnameisolllie
30/7/2015
20:34
I think there is a good chance of a counter offer. level of acceptances is low and QED now in play.
r ball
30/7/2015
15:35
Very interesting to see Millennium Partners declare a stake.If memory serves they are Arbs and have put in nearly £7million at 131.1p so it would appear they think there is something more to go for.
maiken
30/7/2015
15:17
I hope there is higher offer... in my experience the only what the current bidders will increase the offer is if someone else shows any interest... and as pointed it takes time for a company to put together an offer.... they will try and push through the robbery asap...
shaf200
30/7/2015
14:39
Excellent response.

The wheels begin to turn slowly.

It would not surprise if certain important investors may already be expressing their displeasure and potential lack of support for the offer to The Board at the low price of the opening salvo.

The Board needs to serve its shareholders better and produce a higher, more convincing offer to win support.



ALL IMO. DYOR.
QP

quepassa
30/7/2015
14:03
Hi shaf,

There may or not be a counter offer for QED but far too early to say. It is difficult to imagine many FIs being in a position to launch a fully funded counter offer in 24 hours from scratch. Assessing QEDs value, price to pitch, internal governance etc. Also, I doubt that we'd be first to know about it anyway, an informal approach to QED wouldn't require an RNS.

In view of the paltry price it is more likely that some of QEDs investors are suggesting to QED's Board that they look for alternative offers.

QED is effectively 'in-play' with a 131p offer on the table - hardly a knock-out bid IMHO. If there is no counter offer then the Lone Star Cowboys will have bush wacked us.

Regards Maddox

maddox
30/7/2015
12:03
counter offer for QED from potentially where? lack of movement today suggests all done and completed.....
shaf200
30/7/2015
06:13
It is clear that the Quintain Board must have been in discussion with Lone Star for some time prior to yesterday's announcement.

Yet no RNS was ever issued to the effect of such discussions and a potential takeover which would have allowed shareholders to make their views known - and which would have allowed the market to form its own views about the true value of Quintain.

Never keen on takeover negotiations which go on behind closed doors which effectively shut shareholders out.

There is no way that big ticket and institutional shareholders should in my view roll over at the first shot and accept the low initial offer which has been tabled by deep-pocketed Lone Star.

A 7% premium over NAV is just too low.

It is interesting to look to the long drawn out and protracted battle by Songbird with the Qataris to increase the initial offer.

Shareholders would , in my view only, be well advised to push hard for a better offer.


ALL IMO> DYOR.
QP

quepassa
29/7/2015
23:45
I entered this party over a year ago and am up 85%. However I do think this is a lowball offer and it shouldn't take too much pushing by instis to get the price to 150. Let's hope they see it that way.
bscuit
29/7/2015
20:53
Acceptance level low. the institutions may push for a higher price or just happy to get out. counteroffer likely
r ball
29/7/2015
20:33
how much will the FD who joined in May get?deal cheap. counter offer?
r ball
29/7/2015
17:00
Excellent post. Concur.

A 7% premium to NAV is a very poor deal for shareholders and significantly undervalues Quintain.

A reasonable price is 20-25% over NAV.

Shareholders need in my opinion to hold their ground in order to send Quintain management a clear message to go back and negotiate a fairer offer for shareholders.

ALL IMO. DYOR.
QP

quepassa
29/7/2015
16:49
Getting Outline Planning is the easy bit. Detailed planning is guaranteed to be obtained once the detailed plans are ironed out with the local council planners.

Detailed planning lasts for 3 years but if you start the foundations of one of the buildings, ie, just a dig a few holes and pour in some token concrete, then the planning permission never expires.

They expect more planning decisions this Autumn which will bump up the NAV considerably.

I realistically expect a decent offer to be 145p. Premature to sell now. Low chance of deal falling through. High chance of a better offer from another party or by existing part if institutional holders vote no. Take a lesson from the Songbird Estates deal.

winsome147
29/7/2015
16:31
too many people unfortunately will be happy to accept 131p...
shaf200
29/7/2015
15:24
I suspect the planning consents are just a matter of putting the applications on the table and QED do not need to do that years in advance if they are not sure exactly what scale and size of units the market may want at that point in time. Planning consents are not forever so you tend to put them in when you are ready to start considering the actual build out in that part of the whole scheme.


Here is some comment from a broker...

Stiefel : Quintain has been the obvious bid target in the sector in our view for a while given its single asset focus and its wide discount to NAV (15% to current NAV using last night's closing price). Ever since the new management team came on board and started to tidy up the company, selling Greenwich and then iQ, our expectation was that either it would just work out the existing portfolio or that the company would be bid for. The cash offer of 131p is a fair offer in our view reflecting a 22% premium to the closing price of 107p last night and a 30% premium to the weighted average price over the six months to 28 July. It is only a 7.4% premium to the latest reported NAV of 122p and is broadly in line with our expected NAV estimate of 134p for March 2016. However, we do not believe the shares would have started trading at a premium rating near term given the longevity of the projects, the relatively low near-term NAV growth prospects compared with some of its London peers and its limited free cash flow/no dividend payout. Therefore whilst we will be sad to see Quintain leave the quoted sector, we believe this offer crystallises value at an early stage for shareholders.

davidosh
29/7/2015
15:13
I've sold at 131p. If the deal falls apart the price will plummet. The only way it's going much higher is if another bidder turns up. I will be happy with the profit I've banked anyway.
alan@bj
29/7/2015
14:30
Huttonr - Liberum notes are PR puff on the part of Quintain more like.... as the company accepts the offer...
trytotakeiteasy
29/7/2015
11:41
I would have expected a rise to c.135p on the announcement of a reinstatement of the dividend. With both debt and financing sorted and with income rising, this could not be too far away.
maddox
29/7/2015
11:23
well said QP... like I said i'll take 250p
shaf200
29/7/2015
11:15
Market showing 133p BID versus the OFFER price of 131p.

Looks like the market expects a higher price in due course.

The price reflects no worthwhile premium in my view for the enormous build-out upside potential of Quintain's Wembley land-bank, nor for their other interests such as Curzon Street Birmingham nor for the Surrey Salfords site.

It seems to me that the Institutional shareholders won't need much encouragement to send Quintain management packing with a flee in their ear for such a low-ball offer.

If management had paid a dividend like most of their peer-group, Quintain would not have been trading at anything like the recent Discount to NAV.

Fair value in my opinion for Quintain is a premium of 20-25% OVER THE NET ASSET VALUE of the Company. Not a premium based on yesterday's share price which has been held back by management's inability to pay a dividend.

I will be rejecting the offer and trust that other private and Institutional shareholders will consider doing the same on the basis that the offer SIGNIFICANTLY UNDERVALUES the upside potential of Quintain and represents a derisory premium of just 7% or so to the March EPRA NAV.

Fair value in my view for Quintain is a premium of 20-25%+ over the EPRA NAV to compensate for the enormous future build-out potential of The Company against a strong UK economy hungry for new housing and an increasingly benign/favourable planning backdrop.

ALL IMO. DYOR.
QP

quepassa
29/7/2015
10:32
I wrote on here a few months ago what I thought the long term potential was. I think and hopa another bidder will come in at at least 150p. The price is now above 131p so the market obviously thinks another bidder will come.

Let's be realistic. It's not too difficult for other interested parties to come to a valuation of their own. It is a pure property play. If it is too cheap at 131p then someome else will step with a higher offer. If not, then its a fair price at this point in time. Its a much smaller company than Songbird was so there are plenty of parties around with deep enough pockets. If no one bids higher then we cannot grumble too much although I would have liked to hold for the long term.

winsome147
29/7/2015
10:26
Share price exceeding offer as people bet a counter bid or improved offer will come forward.
cszjrh2
29/7/2015
09:27
Wembley is a developers gold mine, they have 4500 homes yet to build on c 80 acres around an iconic London site.
QED's NAV estimate for the end of this financial year is 133pps, and next year should be well over 150p.
I am amazed the directors agreeing to give the company away at this price just when their turnaround efforts are coming good.
I hope the institutions will look after their investors by rejecting a short term profit and not giving away one of the best capital growth opportunities I have seen in years.

K.

kramch
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