Oakdene Homes Share Discussion Threads

[waterloo01] 05/8/2013 18:29

Anyone know why this still has not appeared on the HMRC negligible value list? Are they bust or still in administration?

[edmondj] 23/7/2009 21:26

Think it was the sales and marketing woman resigning and selling all her shares, that prompted me to. Felt quite a portent at the time, you never can tell but it seemed so.

[galles] 23/7/2009 21:17

So we have lost all our money on OKD then!

[slapdash] 23/7/2009 07:05

Oakdene Homes RIP (Turpin CEO's second major bankruptcy in as many years) Still seem to be selling homes under the administrator I wonder if they are at a knockdown price and if they are completing the developments or not:



Prices at Newhaven appear to have fallen:




RNS Number : 1095W
AIM
23 July 2009













NOTICE



(524)



23/07/2009 7:00am



CANCELLATION OF ADMISSION OF SECURITIES TO TRADING ON AIM



OAKDENE HOMES PLC



Trading on AIM for the under-mentioned securities have been cancelled from 23/07/2009 7:00am pursuant to AIM Rule 41.







Ordinary Shares of 1p each

fully paid

(3073979)(GB0030739790)













If you have any queries relating to the above, please contact the Company's nominated adviser on 020 7459 3600.



Ref: AIMNOT524


This information is provided by RNS
The company news service from the London Stock Exchange

END


AMOXLLFLKDBEBBQ

[davidosh] 09/2/2009 18:52

There have been other miscalculations too....Look at the recent admittance in the results that a number of transactions to sell complete sites had not actually happened within the year that they were shown in the accounts. When they did not complete on the deal it made a rather sad picture and even sadder for those who bought thinking that all in the garden was rosy. Two years accounts had to be restated.

There was also the supposed investors who did not pay their cheque to buy shares in the placing that was only reported months later. The brokers should have been responsible as they took a large fee for completing the placing.

Not to mention the same brokers who amended their forecasts with a 50% downgrade and got their clients out of the stock with the full knowledge of the directors....but absolutely no profit warning from the company.

There have been far too many of these over the last few years.

[jadeticl] 09/2/2009 17:46

slapdash, what was the name of Turpin's other company to go bust, please?

[slapdash] 28/1/2009 10:10

yup loads of directors including Wray sold out of DOM.....

[bahtat] 28/1/2009 09:40

slap

Did you know Wray sold about £17m of his DOM shares last June?
Wonder what he did with that!

[slapdash] 28/1/2009 09:37

Bahtat - I'm pretty sure I read Wray and other directors of Dominos have borrowed against their stock there without discolosing it... naughty naughty... I'm not saying Oakdene is obvious but having that much debt and selling tiny appartments in possible white elephant locations was massively risky..... and reasonably likely to blow up.... Turpin was and is a bad CEO in my view and it is no surprise that two of his firms have gone bust

Slap

[slapdash] 28/1/2009 08:49

Wray has left the building...

Interesting looking at Rightmove and then Newhaven... can see Oakdene's flats there.. look horribly overpriced....

i.e. could buy a house with garden etc for much less than the price of one of their two bedroom flats....

A glimpse into Carl Turpin's fantasy world.......

Slap

[tara7] 25/1/2009 20:17

RBS, will soon know the real value of land in todays market, then go through its own loan book at knock off 75%-85%.

[davidosh] 25/1/2009 19:19

It would be very interesting to know where these assets actually do end up and how much is paid for them ?

[abc125] 25/1/2009 19:08

I have a feeling though ordinary shareholders have been wiped out, NW will come out of this with something.

[the troll] 23/1/2009 15:20

with virtually no chance of a 'going concern' buyer appearing, the administrators will shortly be forced to dump OKD's land & WIP onto the open market; if so, I sincerely hope RBS's written off 50 % + of what it's owed. RBS, Turpin & Wray eh, what a formidable combination for disaster.

[cyberpost] 23/1/2009 12:48

Appointment of Administrators (Oakdene Homes)





TIDMOKD

RNS Number : 1681M
Oakdene Homes PLC
23 January 2009

?
23 January 2009




Oakdene Homes plc ("Oakdene" or "the Company")


Appointment of Administrators


Further to the announcement on 22 January 2009, Oakdene announces that Colin
Haig, Mark Shires and Karen Dukes (all of PricewaterhouseCoopers LLP) were
appointed as the administrators of the Company at 8:42 on 23 January 2009 by The
Royal Bank of Scotland.

[the troll] 23/1/2009 10:15

abc125 - thanks for referring to LIN, looks interesting

presumably, the banks appoint the administrators since it's them that's called in the loans; would account for the delay in announcing who they are ?

[sofa spud] 23/1/2009 09:47

Quote:...""Badly run imo - but good news for other builders - one less competitor.""

Not really, since the unsold houses will still be there and there's virtually zero new work for developers to compete over at the moment.

[old portmuthian] 23/1/2009 09:34

Have found Nigel Wray to be a mystery.

Made a mental note to avoid all companies he was involved with after the dotcom fiasco.

The pattern is all too familiar -

A quiet company not doing anything spectacular
Nigel Wray invests
Shares tipped heavily
SP muti-bags
SP crashes
Company goes bust

How can a man lose so much money (I cant recall him ever making a notifiable sale of shares) - the answer probably lies somewhere in the above scenario.