Gs Chain Share Discussion Threads

[microscope] 26/11/2021 06:02

Ah happily not. Different spelling of the surname :)

[microscope] 25/11/2021 16:45

Any relation?

[neilbrereton] 24/8/2021 12:51

I have just discovered I have some of these in a dormant account. From the accounts just seems to be unpaid bank liabilities and no assets.

Not sure how its still going and not been wound up.

[harrogate] 03/12/2013 08:40

Anyone still a holder of these post delisting. 2012 accounts juts filed and it is a car crash. Something very odd happened here that shouldn't have happened in my view but I suspect it will be impossible to find out what.

[harrogate] 25/4/2012 18:29

Ah sorry I misunderstood. Steady management I would agreed but there have been some decent priced distressed properties for sale over the last 4 years and I would have thought they would have had a couple. I would be happy if they took it private at say 80p to be honest but i guess if they were going to they maybe would have done ..what do they do all day?

[microscope] 25/4/2012 18:24

The point re JCR was that I sold when the falsifying story broke. If I had kept the faith i would have had them at £1. But I traded the stock instead of held, in and out regularly, from then on.

Anyway, water under... hopefully GSC will work out. I've always liked the company, even now, good management.

[harrogate] 25/4/2012 17:11

It wasn't the guy who falsified the stock figure at JCR that did for you...they hit £1 + well after that ..it was greed that did for you just like me!! I looked at selling and could have got over £1 for mosts of mine in 2006 but was too greedy and left it.

[microscope] 25/4/2012 16:06

Thanks harrogate! So frustrating, oddly enough I had a bucketload of JCR at 6p and if i'd got my timing right, could have retired by now! Of course, i didn't. That bloke that defrauded the company many years ago when the shares were about 20p did for my chances!
In light of your very honest post (thanks) I won't be looking to buy any time soon, though I do think they are cheap if activity picks up. May not be anytime soon, but one day, Rodney....

[harrogate] 25/4/2012 16:00

I am still here ..Bought at £1.20 in 2004 and could have sold for £3.50!! Was offered 45p to sell my 20,000 just before the tax year end and sold 1,000 at 60p. I wish I wasn't here so I wouldn't buy ..the discount to NAV is an illusion when you can't seel and I can see an MBO as well

[microscope] 25/4/2012 15:50

Anyone still following the company or the sector? Shares down to near all time low, as they have stuck with their current investment portfolio for a couple of years now, to protect cash and not to risk buying into a still stagnant/falling market. They retain a blue-chip clientelle.

At 53.5p the shares are superficially very cheap (nav over 160p) but having not invested for a while in the sector i don't know what the sector average is these days. GSC is a near 70% discount to nav.

I would be concerned that they might leave plus, otherwise given a 1.5p final dividend hinted at previously, the shares are looking interesting again imho.

Thoughts anyone?

[harrogate] 25/11/2010 14:38

Thanks for the info... Depends what the contract with the hotel operator is ..I would have thought they had to keep paying GSC and between them there was some insurance that covered any loss

[sweepie2] 25/11/2010 14:24

I see their hotel in Plymouth has had a major fire and has had to cancel most of the Xmas activities, luckly nobody was hurt but this cancellation will hurt cash flow in this part of the business.
Don't hold but follow

[dadro1] 14/1/2010 16:53

A decline now could be the start of THE BIG ONE!

[harrogate] 30/9/2009 08:52

Hi

I have held these for a few years... Good company. Wish I had sold in the £3 + range as I was going to do ..!!!
I have been a bit surprised that they haven't picked up some things over the last 12 months. The market has been good to buy in if you have finance already in place which they say they do.

Do you happen to know if there was a write up on the AGM..I read one on I think MF a couple of years ago which was very informative.

[davidosh] 30/9/2009 08:45

Looks like the company is set for its next run at finding cheaper assets that have good potential judging by the management comments...

Newstrack announcement 30 September 2009

GSC Property Holdings plc

Interim results for the 6 months to 30 June 2009

Highlights:

* Profit before interest rises 3.5 per cent to GBP3,215,023 (2008:
GBP3,105,874)

* Rental income holds firm at GBP3,915,575 (2008: GBP3,980,948)

* Interim dividend 2.0 pence per share (2008: 2.0 pence)

Mark Rubin, Chief Executive commented:

"Our low risk strategy has protected us from very difficult market conditions
earlier this year and as a consequence we are in a strong position to
capitalise on property investment opportunities as they arise."

[the big fella] 10/9/2009 16:22

Nice rise over the last couple of days.

[harrogate] 10/9/2009 15:50

Thanks - I think I have enough already though ... !!

[the big fella] 10/9/2009 15:37

In good times 10%
In normal times 20%
In poor time 50% +

I think we should see the discount close, especially as their NAV was most likely very conservatively put together "on a fair value".
A very nice, conservative company, no funding issues with bank on side, strong balance sheet, at the bottom of the cycle. Good time to be buying.

[the big fella] 10/9/2009 14:11

This one is just starting to perk up off the floor. Still trading at a massive discount to NAV. Looks like it is just about to join the sector re-rating.

[harrogate] 29/6/2008 12:59

Egoi - last year you posted a link to a great report from the AGM - do you know if they guys went this year?

Thanks

[egoi] 30/5/2008 10:58

Agree with you Harrogate on GSC, long term hold and anyone buying now is getting tremendous value I feel. Am happy to sit tight and pick up the divvies that come along.

AVAP no response - as expected lol! - I only have a small holding there; while the business is simple enough to understand - even for me - the share structure and wealth creation is somewhat extraordinary and I profess not to know quite what to make of it. A Director has bought a few this morning, and Credit Suisse are quite a coup for a P-Q company. Gut feeling about something soon, or have you been 'chatting' to anyone? -:)

[harrogate] 30/5/2008 10:36

Seen them now. Not sure what I expected in terms of NAV but results read well - We need to see the new hotel open and revalued to be able to see a fair reflection of the NAV. This could have a significant impact

I am happy holding for a while now since I am sure in 2/3 years time we will be back where we were - Some nice acquisitions from distressed sellers would help!!

Did you get any response on your note elsewhere on AVAP? I don't know why but I have a feeling that something is going to happen there soon

[egoi] 30/5/2008 10:20

Yes I got up at half six! -:(

Out now, nav a little bit lower than I thought, but actually the results look surprisingly good in general terms. Fall in rental income in quite large part to Bournemouth hotel having been closed, (reopening June) while the fall in nav can in substantial part imho be put down to spending 8 million on its refurbishment.

Of course market conditions have played their part but in spite of that they have increased the dividend, a confirmation of the Rubins shrewdness and cash management.

I like the last bit 'Our
properties are well let and conservatively valued and this strength, backed by
a sound balance sheet and long term financing, allows us to look forward with
confidence.'

Conservative valuations suggest the nav is probably higher than stated and I think the company has come through the turmoil better placed than the vast majority of the sector.

I expect an acquisition or two in the near future, and the mention of bankers hints they have some borrowings to draw on,, something Mark hinted at in my recent conversations with him.

All in all I'm very satisfied and I think there is plenty room for the shareprice to recover first towards 275p and as acquisitions unfold and Bournemouth reopens to see a significant rerating higher thereafter.

[harrogate] 30/5/2008 07:58

Expected the results out today based on last couple of years experience -any thoughts?

Thanks