Caffyns Share Discussion Threads

[ntv] 29/5/2018 12:28

3800
he seems to have disappeared in feb 2018 after saying he is going to court with something to do with EKT i think
also been proposing legal action with regard to several other companies from memory
never stated exactly his legal action so i don't know if it was "lala" land stuff or not
all i can say is whenever i go to see a solicitor i always take a voice recorder.
the ones i have met have a tendency to forget to do things or misrepresent you or forget to forward documents when they have received them so i highly recommend a £75 voice recorder
it saved me over £7500 in fees but unfortunately it is very difficult to sue for damages and losses because they are above the law

[3800] 29/5/2018 12:02

I did post regarding a previous activist shareholder about a year ago, anyone know what happened too him? this is what I wrote at the time to answer another posters question.
if you look back on this bullitin board to post 121 a poster with the user name Simon Templar QC who mounted a legal challenge, the details can be found in the RNS link which is included in the post. I'm not sure if he still has any holding or even if he is still alive.
3800

[ntv] 29/5/2018 10:56

any thoughts on Armstrong as active and Charles Stanley?

[ntv] 29/5/2018 10:55

last held them in the 600's a while ago but sold must be couple of years ago CJohn
luckily just before diesel fiasco at VW
i hope Mr Perloff can change a few things here but like LAS he has his work cut out
we will have to wait and see
results should be improving here hopefully
well done for buying in below 400
good dividend if maintained

[cjohn] 29/5/2018 08:03

Hi, NTV,


I'm sorry you've had to suffer for so many years! The discount to tangible assets is ridiculous here. And the iniquitous preferential shares.

I've bought more at around and below 400 when Perloff started buying.

It's got to be a positive having him involved. The management have no concern for minority shareholders. That attitutde will displease Perloff.


all the best

CJohn

PS still can't bring myself to buy into LAS.

[ntv] 27/5/2018 18:41

interesting times here at caffyns at last we have an active investor aboard who might start to try to change things
he has got his work cut out here as with LAS
old school
jobs for life
antiquated share structure
can't raise money in the city because of the above
could be about to lose its Vauxhall dealership at the time when Vauxhall wants to cut the number of dealerships
probably end like the land rover one they lost
share price lower than it was when i started the thread 16 years ago!!!
glad i wasn't a holder all that time
come on caffyns move into the modern world or buy us out and take it private
then you can have as many classes of preference shares you like
if you don't want to do that then cancel the preference shares at the issue price and cut the cut the interest costs to the company and ALL shareholders

[cjohn] 11/5/2018 15:07

Perloff buying more then.

[cjohn] 26/2/2018 08:46

Just saw a pig levitate over my neighbour's garage.

[arthur_lame_stocks] 23/2/2018 19:22

I've bought a few of these too, for the balance sheet more than the business although if the divi is maintained it's quite a decent yield.

I can't see Perloff being able to do much to shake up the family tbh so I wouldn't buy based on his investment.

Frankly the best thing the family could do is close down the car dealerships and sell off or develop all of the property which would raise about $30-40mn in cash and then buy a business making reasonable margins in a growth industry.

All IMHO.

[cjohn] 23/2/2018 16:56

Impossible to predict short-term share price movements.

You may have another opportunity sub-400 - or not. But the current price is still compelling, given the possible catalyst of Perloff shaking things up. Though as you say, the share structure isn't helpful to outsiders.

Diesel is going to be outlawed; so definitely diésel sales are going to go down! I'd have thought overall sales is the more interesting figure.

[ntv] 23/2/2018 14:14

it didn't move when his holding was announced so i left it thinking the seller might have a few left and on the right day i could pick up a few on the quiet.
still might get another chance
good luck trying to change this outfit though because of the big problem with the share capital because of the preference shares
still think diesel car sales have further falls ahead so i am sure there will be chance at lower prices again

[spob] 23/2/2018 13:06

I've topped up with a few more too

[spob] 23/2/2018 13:05

Thanks for drawing attention to this

I wouldn't have noticed

Could be an interesting development

[cjohn] 23/2/2018 12:37

I've been buying more here at around 400.

The serious discount to tangible asset value has been too tempting.

Getting Perloff involved is a definite plus.

[cjohn] 23/2/2018 11:47

So Andrew Perloff, the chairman and majority owner of Panther Securites, has taken a
4.82% stake in Caffyns.

Perloff is a property investor.

[pillion] 23/11/2017 15:55

Quite right too TC
Results tomorrow

[turbocharge] 07/11/2017 15:03

Well, the bearish signals seem to have been borne out...

[cjohn] 02/11/2017 11:06

Hi Value Hound,

It's true that the share is trading at about 0.45 PTBV. It's worth noting though that there have been revaluations of the freehold property, which would add about 10m sterling to asset value, if the revaluation was included on the balance sheet. So the balance sheet understates value here.

Including the property surplus, they are trading at around a third of net tangible asset value.

Whether there will be a catalyst to out this value is another question. (The preference shares make a takover much less likely.)

[ntv] 29/10/2017 13:13

it is here until they decide otherwise. pref share are effectively ord shares so best to value them that way as they count as 1 vote in the unlikely event of a deal

[clemo69] 25/10/2017 07:23

Totally agree. The prefs are a major pain in valuing Caffyns. They are on the balance sheet at a low value however in a takeover situation as far as I can see would be worth potentially a lot making it difficult to value. However it still looks extremely cheap. If the prefs were geniunely worth what they say they are on balance sheet this would be the cheapest share I have ever seen.

[value hound] 24/10/2017 10:42

This has to be just about the cheapest share out there? Of course the future may not look rosy for car dealers, but the balance sheet is rock-solid (ptbv now 0.45) so it's a share safe to average down on IMO when the markets perceive it's a bad time cyclically.

If it wasn't for the voting rights of the Prefs which give the Caffyn family effective control (they own 21.4% of the ords) this would be a lot higher.

[turbocharge] 12/8/2017 13:32

Just started looking at this company, looks interesting, and good discussion going on on this forum. Thinking of possibly buying some for my portfolio long / medium term. But some of the chart signals I've seen suggest maybe I should wait a while:

11 Aug 2017 WEEKLY
Intermediate-Term Bearish 490.00 Price Crosses Moving Average (21-week)

09 Aug 2017
DAILY Short-Term Bearish 490.00 Price Crosses Moving Average (21-day)
DAILY Intermediate-Term Bearish 490.00 Price Crosses Moving Average (50-day)
DAILY Short-Term Bearish 490.00 Momentum

04 Aug 2017
WEEKLY Intermediate-Term Bullish 500.00

Any thoughts what price would be a good entry point...?