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ASH Ashley House Plc

1.20
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Ashley House Plc LSE:ASH London Ordinary Share GB00B1KKCZ55 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.20 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Ashley House Share Discussion Threads

Showing 2251 to 2274 of 2925 messages
Chat Pages: Latest  93  92  91  90  89  88  87  86  85  84  83  82  Older
DateSubjectAuthorDiscuss
17/12/2017
14:20
Or maybe not....HTtps://www.stockopedia.com/content/ashley-house-plc-ash-a-shareholder-friendly-recovery-situation-150650/
palwing13
17/12/2017
14:19
For those who couldn't activate the link in Norberts post. Hopefully this will be easier to click on?Https://www.stockopedia.com/content/ashley-house-plc-ash-a-shareholder-friendly-recovery-situation-150650/
palwing13
17/12/2017
14:16
Thanks Norbert Colon....good link to good info. Appreciated.
palwing13
17/12/2017
12:39
Several excellent posts. The more I think about it the more I like it. Some of us were thinking along the lines of an equity funding to release the schemes, which would have worked fine but added to dilutionThis way we get cash up front and still 50% of the profits without a single new share issued.Yump your comments on timeframe are interesting. You'll know better than me. My guess maybe 3-5 years for Morgan Sindall to make obviously substantially more than the 4 million they are paying? That would imply a million a year minimum profit on average for us too, and a very healthy future.Norbert thanks, not able to open link on phone as yet but will read later. Guessing you covered these and other points. Do think we have to be realistic short term for 2017 numbers as they mention first half will be a loss but (small?) anticipated profit for full year.
microscope
16/12/2017
20:37
My thoughts added - some of which I see are already covered here. https://www.stockopedia.com/content/ashley-house-plc-ash-a-shareholder-friendly-recovery-situation-150650/
norbert colon
16/12/2017
19:45
Absolutely agree with the smaller share of something big philosophy, rather than the large share of something that might be difficult to get.

I assume that if MS were prepared to pay £4mln, then they would expect profits on the projects to come in significantly above that level. Depending on the speed of completion then, could we expect to see something upward of £4mln profit for ASH over whatever number of years the projects take to complete ?

I note there is a comment about fair value of services in the statement and I assume that concerns the control of costs billed to the joint venture. ie. neither side can put in inflated costs to minimise the final profit at the expense of the other party, while effectively pocketing a hidden profit on the bills.

I wonder if they will require an independent audit of what costs are billed by both sides - I've been in a joint venture years ago and that was quite a tricky area. Easy to agree the rates - more difficult to agree the time and resources spent.

yump
16/12/2017
10:09
ASH is very like another share I invested in for many years STY on which a decent return ensued my only mistake there was I sold far too early. Will hold on to my shares here for the foreseeable future .
wskill
16/12/2017
10:08
Exactly.

Would you prefer all of 2 million or half of 10 million for example.

The funds transform Ash's balance sheet.

Broker forcast mentioned here a few times was 3p a share for 2018. How much does
yesterday's news improve that. And no way the broker was pricing in this news so
I think a sensible short/medium term target could be 25-35p

dave4545
15/12/2017
21:33
Yes, good news to have attracted a quality name. Solved its funding difficulties. They will actually be able to move the pipeline forward now, so 50% of the prize is better than nothing at all. I'm not quite clear what it means for the employee cost. Looks like they will be recharged into the JV but doesn't really say what the terms are.
topvest
15/12/2017
20:43
Debt free sounds good the £750k saved in interest payments will make ASH a profitable business.
wskill
15/12/2017
19:51
Thanks gf, excellent additional info. Mrs Moy if I recall sold about 160k of shares almost three months to the day of the loan, something she's done before. I think the deal is fine, ASH will still reap plenty benefit from share of future profits, far from a case of having sold the family silver.
microscope
15/12/2017
18:42
To add to that. The J/V probably will find project financing quicker and under better terms. Ashley will benefit from that as well.


Also ASH had 2.6 million in loans (30-4-2017) while interest payable was 755,000. So the 4 million they'll receive must lead to a substantial decrease in interest payable.

[Ashley House plc has a loan facility of £1,560,000 with the Invescare Limited group. Interest on the facility is chargeable at a fixed rate of 10.00% per annum. The loan balance was £1,500,000 at 30 April 2017. The facility expires in September 2019.
Ashley House plc has a loan facility of £500,000 with Stephen Minion, non-execu�ve �eputy Chairman of the Company.
Interest on the facility is chargeable at a fixed rate of 10.00% per annum. The facility is in place un�l April 201� and is
secured by a charge over certain of the Group’s assets. The loan was fully drawn at 30 April 2017.]



Edit: 4-7-2017 extra 200,000 loan from mrs. Moy spouse of NED John Moy.

greedfear
15/12/2017
17:00
In simple terms the circa £200m pipeline excluding the 2 schemes currently near financial close have been valued at £8m or 4% margin. One could argue that ASH could have achieved a higher margin, however, things don't always go smoothly in construction and this gives them the cash they badly needed and the upside on the 50% they retain so personally I think it's a reasonably deal all things considered plus they get a reputable partner from which other things may grow. Shareholders are not diluted which is also a key consideration here.
norbert colon
15/12/2017
16:51
they have basically sold off half of the housing division for £4m
rocket fuel
15/12/2017
16:37
I guess Morgan Sindall are effectively paying £4mln in advance for 50% of future profits of the joint venture. I wonder how they worked out what that was worth and whether we can deduce anything about likely profit flow for ASH from it ?

I make it that every £1mln profit for ASH would translate to 1.7p earnings...

yump
15/12/2017
16:18
Sorry James didn't mean you to feel miffed. Hopefully this makes up for it. 4 million does seem a bit of a bargain for Morgan Sindall, but at least it's a partnership not a 'giveaway'. That said the cash will transform the company, and now the corner has been well and truly turned. It's properly undervalued despite the rise and, maybe even more so. My 25p price target for this time next year is uplifted to 40p, on basis of the cash injection without dilution today.
microscope
15/12/2017
15:43
hi all , what the thoughts on that news? not a holder yet, but appear very good news
urigem
15/12/2017
15:41
#imrich
#notquiteyet

I'm glad I took the time to understand what ASH do, so the significance of the cap removal etc. etc. made sense. Was on the verge of ditching the shares a while ago.

yump
15/12/2017
15:38
I'm not sure that suggesting a market cap of £12M could be called pumping - and dumpung at that level would seem very short-sighted.
verulamium
15/12/2017
15:21
This should get a significant re-rating. The old shareprice was discounting a placing and significant dilution of current holders. Today's news means that's not happening. Then on top of that there's the fact that the pipeline of work is going to come to fruition much more quickly than it would have done on our own. A fantastic deal - well done Ashely House.
verulamium
15/12/2017
15:16
100% today by the looks of things!!!




nai

miahkaysor
15/12/2017
15:11
Great deal - very much de-risked.
18bt
15/12/2017
15:07
20p? today?
miahkaysor
15/12/2017
14:48
Was not expecting that ! Could be quite exciting for the next few years now.
yump
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