Fayrewood Share Discussion Threads

[deswalker] 28/5/2012 07:52

Thks mertles. All done and dusted. Last one out of this thread please turn the lights off :o) Over and out.

[mertles] 28/5/2012 07:44

Same price here from my broker too. Thanks Des for keeping us updated over the last couple of years. As someone with a nominee holding it was very much appreciated. All the best.

[40plus] 25/5/2012 12:34

Just had confirmation from Hargreaves Lansdown that I also have received 66.0604p per share...

Turned out all right in the end!

[prewar] 25/5/2012 12:15

thanks for replies, not had anything myself yet

[deswalker] 25/5/2012 07:49

Thanks mertles. I'm just keen to know that others got the same rate as me and then it can be forgotten. Hope you get it soon in your nominee account.

[mertles] 25/5/2012 07:29

Many thanks for that Des. My nominee account is still showing my share holding. Will confirm price once it's been updated. I guess sometime early next week. Cheers.

[deswalker] 23/5/2012 15:04

My cheque just arrived. I got 66.0604p per share which I'm pretty pleased with. I'd be grateful if a few others could confirm their rate is the same. Then we can put this thread to bed. Thks.

[deswalker] 23/5/2012 09:17

I imagine it will be a cheque through the post. Hopefully at some point this week or early next.

If anyone receives anything then please post here and I'll do likewise.

[prewar] 22/5/2012 17:53

Cash distribution in theory tomorrow? Any news on this and how is it likely to be made, chq in post etc?

[40plus] 10/5/2012 09:40

Many thanks Des.

[deswalker] 09/5/2012 11:17

Just spoken with the liquidators.

There have been no problems and they hope to make the cash distribution on 23 May or possibly sooner.

All running to plan thank goodness.

[deswalker] 09/5/2012 08:59

Not yet. I'm planning on calling the administrator in the next few days for an update and I'll post any findings on here. I'll be very disappointed if we haven't been paid out by mid June but have nothing to base that on other than what was said back in November.

[deadly] 09/5/2012 08:52

No news yet?

[deswalker] 09/11/2011 11:59

The Special Resolution to appoint a liquidator passed at yesterday's EGM. The letter on the FWY website says that the capital distribution is anticipated "in or around May 2012". Six months to go.

[deswalker] 15/10/2011 18:47

Received the Annual Report to 30 June 2011 through the post this morning.

NAV is 67.37p per share. The UMD warranty has expired so this figure is now unencumbered except for some very small technicalities linked to the BM purchase I believe.

They have issued an EGM notice to authorise voluntary liquidation and a return of capital to shareholders. The liquidation will take some time for the formalities to go through and they hope to make the one-off capital repayment in late Spring next year.

I'm guessing "late Spring" will mean approximately May which is about 3-4 months longer than I had hoped but it is what it is.

Back to waiting for another 7 months or so but we're getting there eventually.

[deswalker] 24/3/2011 11:14

Just received the Interims through the post. Not a lot to say really ...

They use an fx rate of approx 1.172€ which gives a NAV per share of approx 68p (=67.64p to be precise).

They say that the BM issue is close to being settled out of court at a level below the £365k provision (incl costs) which means that some of this provision should be added back to enhance the above NAV figure slightly.

The UMD warranty period comes to an end in six months time or so and assuming no claims (IMO it appears they've heard nothing from them since the attempts to curtail the warranty failed) then they expect to announce proposals for the return of funds to shareholders soon after.

Assuming the € cash balance is the same €7.1m as in June then this means the sterling balance is £1.445m. Consequently adjusting for the current fx rate of €1.146 gives a NAV per share of 68.95p before any small uplift from a release of the remaining BM provision.

That's it for another seven months or so when I hope to get a clear proposal about the return of cash. All being well it ought to be distributed before Christmas IMO.

[deswalker] 13/10/2010 11:54

I received the Finals through the post this morning. As of 30 Jun the NAV is 65.43p per share. This was during a period of € weakness so they used 1.2348 € per £.

Splitting out the cash deposit balances into €7.1m and £1.53m and adjusting for the current fx rate of 1.134€ per £ gives a current NAV per share of 70.29p.

Each 1 cent change in the fx rate equates to a £48k change to the NAV. They've considered hedging but have decided against.

They have not heard anything from Esprinet in the last six months. The BM issue is to be heard in the Paris Court of Arbitration this autumn and a £365k provision remains in place for this and which is excluded from the NAV per share above.

They say they hope to give a firm indication of the return of capital this time next year.

That's it I guess. Interims in March, then sit tight for the end-game in twelve months time.

[deswalker] 16/4/2010 13:18

No trades took place on 16 April. Next auction 16 July.

Somebody bidding 40p for 10k shares.

[40plus] 15/3/2010 11:26

Many thanks Des - For those with Nominee holdings you can download interim here:-

[deswalker] 13/3/2010 19:36

I received the Interims through the post this morning. As of 31 Dec the NAV is 70.75p per share. Currently it should be fractionally higher due to the strengthening Euro since the start of the year. That's the good news ...

The bad news is that they've failed to agree an insurance policy with Esprinet and so it looks like everything will have to sit tight until September 2011 when the warranty expires. They have no indication that it will ever be needed.

There are also some issues linked to the BM sale but there is a provision in place (and excluded from the 70.75p NAV) which Letchworth claim is prudent.

So back to waiting which is rather annoying as I thought we might actually get news of a capital return before the month is out. Not so ...

[deswalker] 15/1/2010 13:51

No trades took place on 15 January. Next auction 16 April. Will have the results and an update on progress well before then I guess.

[bisiboy] 23/10/2009 20:41

just going through my list of holdings and forgot i had these
something to look foward to next year !

[deswalker] 19/10/2009 10:28

No trades took place on 16 October. Next auction 15 January.

[deswalker] 29/9/2009 11:19

Interim Results received today.

NAV per share is 68.9p with fx at 1.176. Will be back over 70p at current fx rates.

They're hoping to update on a strategy for returning the cash "in a few months". I'm guessing from the tone that if they manage to get the necessary insurances in place then we may see the cash by the end of next year at the latest. 15 months time.