Bridgepoint Share Discussion Threads

[dgb@gx] 18/2/2001 12:39

The recent announcement shows the forecasts of amounts ranging from £3.60 to £4.25 per share to be somewhat optimistic. Boxwellian probably got near the present assett value at £4.25,while Neptune's assessment of £3.60 possibly a more realistic level acceptable to shareholders. The fact that we are now informed that discussions are to continue and that if an offer is made it would be at £3.21 per share leads me to suspect that all is not running as smoothly as previously suggested and that the independant committee are not as one on the matter.While a previous contributor suggested £4.50 a share this may have been nearer the mark (figuratively speaking) than Deutschebank's and their advisors present indications.There is no doubt that BPT's assetts have risen further since the valuation of last April and that the current value should be well over the £4.00 a share level,therefore allowing for any tax and accounting requirements anything less than £3.40 to £3.50 per share would be less than fair value and I feel unlikely to be reccomended by the BPT board or acceptable to the shareholders

[cb7] 18/2/2001 10:50

dgb
like you say nav shud be nearer £4....so 321 is dissappointing, especially when another residential portfolio was recently liquidised at well above nav...but maybe thatone was more prudently valued? the fact that 321 has been mentioned implies the board will accept it...a sum of nearer 350 would be more realistic but then having targeted mbos, takeovers etc for the last six months I know full well that they will try to get away with paying as little as poss and often do...

[neptune] 16/1/2001 13:49

Any thoughts on the likely take out price? Presumably this will be a modest discount to NAV which must be around 380p now. So something like 360p?

At the moment BPT looks close to a one way bet given the 31st January deadline for the MBO.

[terry91] 04/12/2000 18:10

Better late than never.

[boxwellian] 04/12/2000 16:57

looks like you got it right-£4.25??

[terry91] 10/10/2000 20:57

On a day that the sector was in the news stating yet again that the sector is way under valued. I would like to bring BPT to light.

All the tec stocks crashed over the last couple of months. Even the banking sector took a large drop. What is safe.

When it looks like interest rates are set to rise with the average person not able to afford to get on the first home ladder.

Property sector needs to be looked at.

BPT has a few things that other stocks could only wish for.

1 it pays dividens

2 turn over last year 95.4 million

PE of 15.5

Last years profit 39million

Market cap of 400 million

It has just bought another 5.6 million worth of property in London as well as other property to go with it's large assits.

BPT 3/8/00 announced that it has put it's self up for a cash offer buy out due to the fact that the company was way under valued.

News at the time put the offer would have to be around £3.50+

With the sector so under valued and SAFE news must come soon.

As a share holder I wait.

Good luck people.

Anyone with comments please