|Trading New Homes
||EPS - Basic
||Market Cap (m)
Trading New Homes Share Discussion Threads
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|OK, so after a bit of prodding ADVFN have returned the number of shares to 2.41m. A lesson for everyone - check data against the original documents/announcements before buying or selling.|
|What happened? Shares in issue suddenly went from 2.41 million to 10.99 million without any announcement.|
|Thanks for that. The float raised £2.203m gross less £0.286m costs less £1.985m for Southport including periferal costs ie leaves just £0.068m in the kitty. So the 114,750 extra shares issued on 14/03/05 were needed to keep the business going @105p each = £0.120m, and these are likely to belong to Shulman and Shapiro plus any other shares they might have. Their joint holding doesn't look all that great, just under 5% total added together. Now buy Leicester for £160k and the cash pile drops to just £28k and that's before 18 months of admin expenses. Cash crisis looming?|
|Can't remember exactly, but they couldn't get the original float away and had to put in some extra money. It was certainly not "loose change"!|
|Topvest, you say Shulman and Shapiro put a fair bit of their money in at the start. Do you know how much?|
|Can't disagree with the points above. However, Shulman and Shapiro, put a fair bit of their own money into this company to get it off the ground. They normally do well - just look at Solitaire Group that they have sold recently. I've not bought any of these, and won't do so until things ge clearer. However, I suspect Shulman and Shapiro might start again using this as their stock market vehicle. Then again, they may not get the cash back out of their Southport investment and the company would then fail. It's difficult to gauge at the moment, but the share price fall indicates to me that things are probably not going that well!|
|Perhaps even more worrying is that having identified the off-plan market is a bust flush they .... go out and buy another one! See unaudited results issued on 23/08/06: comment is that the £160,000 paid for property in Leicester is ... you guessed it, still under construction. Some people never learn.
By the way there don't seem to be any large shareholders. I'm not exactly sure whether this makes the Director's position stronger or weaker. Does anyone have a slant on this, could there be a hidden large shareholder?|
|sounds a complete balls up to me... have they actually got the cash back.. what did they settle for ?
"Following the obtaining of the Court Order the Company has concluded a
settlement arrangement that will satisfy the Court Order."
that is not a very specific statement... could be they have to pay back so much a month, or so much when each flat sells... why not just state exactly what is going on... what if the developer goes bust, and doesnt pay
... im in the property business, and have had loads of court orders in my favour... doesnt mean you ACTUALLY GET THE CASH !
In a statement, the company said it decided on the move as it was less
optimistic about the "off-plan" market which it had initially proposed to trade
Of course that is the case... and was when they floated !!|
|All looks a bit dire here! Good management team though, so watching and waiting for the new direction before deciding to invest. Anyone else following?|
|... fast forward to Feb 2006
How come the company hasn't sold the 8 apartments yet? They were purchased more than a year ago, and it seemed they would be sold within 5 months?
also using 5%+ buy back option isn't very appealing:
the purchase price was 1,7 million, 5% extra gives guaranteed sell price of 1,785 million
still below the total cost of 1,984 million
anybody knows what's going on with this one?|
|I agree Currypasty. They didn't actually manage to raise the minimum:
TRADING NEW HOMES PLC
Ordinary Shares of 5p each fully paid
as the minimum was 3,296,703 shares.
NAV per share is therefore well below the current share price. They raised £2m before expenses of c.£350k. NAV = c70p by my calculation.
On the upside, it's a very strong management team. Shulman and Shapiro (the joint MD's) are also running the property manager, SOLITAIRE. This company shares in any profits made by TNH. This vehicle could be successful, but it's now over-priced imo. I hold shares in Solitaire and have done for a few years. Think this is the better bet for now. Might be interested in this one though at below 50p.
Interestingly, they tried to float a similar vehicle 2/3 years ago, but couldn't raise the minimum and it fell through! Almost the same again, but it looks the terms of the offer were amended and they managed to list on AIM 2 months later than originally planned.|
|new to AIM, share price 100 / 110, ill update with more info later|
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