Bisichi Share Discussion Threads

[ntv] 14/5/2015 20:42

a certain director creamed off nearly a £1m. that is 10% of the mkt cap. that means one director of BP could take £14bn. that is 10% as well!! wholly unacceptable and just pure greed in my opinion. but wtfdik

[topvest] 09/5/2015 15:07

£1.495m of directors' remuneration versus £1.160m last year. The dividend costs £0.43m and has been maintained ---- say's it all really!

[bisiboy] 01/5/2015 18:22

clearly not in fact quite the reverse. still i am sure shareholders are quite happy for all the extra profits to be spent on pay rises rather than dividend increases!

[topvest] 23/4/2014 20:34

£614k for the MD and £425k to shareholders in dividends says it all. Surely £614k in South Africa = a ludicrous salary and very high living standard. Not sure how he gets away with it given the employees are on such a low salary. More and more money for poor financial performance. This company could have distributed twice as much to shareholders over the last five years if we didn't have such a self serving bunch in charge.

[topvest] 23/4/2014 20:29

Yes, very excessive - continues the trend of the family taking too much or a son with very expensive living habits!

[envirovision] 23/4/2014 13:06

Heller got a 32% pay increase LOL, there really is not point to the company is there unless your a Heller or connected party

[michaelmouse] 21/4/2014 11:17

hTTp://michae1mouse.blogspot.co.uk/2014/04/the-low-pe-small-cap-high-yielders-vs.html Michael.

[topvest] 23/2/2014 17:00

Bisichi has been quite a big disappointment over the last 5 years. They need to create some real value for holders rather than just plodding on and awarding the son an excessive remuneration package for a mediocre performance.

[coolen] 23/2/2014 16:45

on the back of the IC tipping LAS, perhaps ?

[ntv] 23/2/2014 15:33

interesting price movements in the last few days

[ntv] 16/2/2014 15:35

following AH sale of shares he be able to repay his loan!

[coolen] 05/1/2014 21:48

Thanks again, TopVest. I was not aware that Electronic Data was in their stable. I shall take a look.

[topvest] 05/1/2014 21:08

Electronic Data Processing is the third of the Heller's listed companies. I have a few of each of the companies, and they have had a difficult few years. All three look to be improving, but rewards are skewed towards the family as opposed to small shareholders certainly at Bisichi and to a lesser extent LAS and EDP. Actually, EDP has been best for minority holders.

[coolen] 05/1/2014 20:55

Thanks for that link to your more detailed thoughts. BISI is part of the Heller family empire, a status quo which has existed for donkeys years. BISI's UK property link is with London & Associated Props (code is LAS, I think). BISI has suffered local problems (coal and politics) whilst LAS is in retail property and has been re-negotiating its banking facilities. But those talks seem to be going okay. Also, a few frowns by minority investors over alleged directors' perks. Hence the big discounts on the two companies. That said, I agree with your implied thoughts on BISI and there's an interesting potential buyer of LAS shares hovering in the wings.

[michaelmouse] 05/1/2014 20:13

hxxp://michae1mouse.blogspot.co.uk/2014/01/the-low-pe-small-cap-high-yielders-vs.html Michael.

[simondezoete] 28/8/2013 08:33

It is notable that LAP have just announced the sale of properties to pay down debt. There is no way that Bisichi should be lending money to LAP which is a poor credit. It should be repaid because the yield is far lower than it should be for an unsecured loan.

[topvest] 12/6/2013 21:28

Oh yes, well spotted... During the year Dragon loaned £2m to the company at an interest rate of 6.875 per cent. At least it as at a good rate!

[simondezoete] 12/6/2013 09:17

The car loan approval would not have gone through if the Heller family had not voted on it. This is appalling and should have been stopped by the independent director, Christopher Joll. Cavendish with 13% voted against.A more serious case of poor corporate governance is the shady loan to London and Associated Properties. This was made via Dragon Properties and the fact that the money was being lent on was not disclosed in the Bisichi accounts. It was disclosed in the LAP accounts together with the fact that Dragon has surplus capital. The scandalous aspects are the tiny dividend at Bisichi and the fact that Bisichi is indirectly lending money to a company controlled by the Hellers. Bisichi has no shares in LAP, which is clearly struggling with its bank debt negotiations. Again the SID should be held accountable.

[topvest] 02/6/2013 20:38

Yes, this is ridiculous. Even worse, the loan was made last year!

[topvest] 23/5/2013 20:38

Nice new head office in Bruton Place, Mayfair, as well. Noticed it sitting in the Pizza Express restaurant opposite last weekend. Very nice indeed...doesn't look cheap!

[simondezoete] 23/5/2013 19:11

The car loan is outrageous and the Heller family should not be voting on it. Furthermore, nor should London and Associated, which is controlled by the Hellers.The company has lent £2m to Dragon Retail Properties, in which it has a 50% interest. In the LAP accounts this company is described as having surplus cash. But, this £2m has been lent on to LAP, which is woefully short of cash. How can Mr Joll, an independent director justify lending money via Dragon to LAP? There are no reasons given, the description of Dragon is different in both accounts and Bisichi has no equity interest in LAP. Mr Joll is a director of Dragon.What about the shareholders? They have received less than Andrew Heller and the company clearly has money to burn.

[p@] 01/5/2013 08:35

Agreed-A good Co. shagged.

[bisiboy] 01/5/2013 08:31

well said tv.