Caffyns Share Discussion Threads

[scepticalinvestor] 27/11/2020 07:33

This would be investing if there wasn't such a huge spreadRidiculous imo

[this_is_me] 27/11/2020 07:32

My minuscule investment here is looking good this morning.

[spob] 26/11/2020 14:13

yes thanks

[arthur_lame_stocks] 26/11/2020 11:57

interims tomorrow if anyone is interested

[jaf111] 18/11/2020 11:27

I think we've heard the "something brewing here" before?????

But maybe, just maybe......although I doubt!

[value hound] 18/11/2020 11:06

Well it is the most undervalued share out there -= the problem is solely with the voting rights so we have to be happy with the yield which is over 7% at the buy price of 320p (massive spread always).

It would be nice if some outfit or other would deliver a knock-out blow, but it would have to be at a massive premium given the family's voting rights via the prefs.

Still, >7% aint bad.

[clemo69] 18/11/2020 10:57

Something brewing here.....

[arthur_lame_stocks] 01/5/2020 13:26

Don't the family control this through the prefs?

[cjohn] 01/5/2020 12:14

Wonder too if it will eventually lead to some action?

[spob] 24/4/2020 11:35

wonder what price he paid for them ?

[cjohn] 24/4/2020 11:21

Just noticed Perloff bought another tranche on the 7th April. He now holds 13.08%, up from 12.06%.

[strathroyal] 07/1/2020 16:37

Decent sized trade today,

[cjohn] 27/11/2019 10:28

OK thanks for the detail, Pugugly. I understand you were painting with a broad brush.

[coolen] 22/11/2019 20:53

Were Andrew Perloff to buy the (controlling) family pref holding, any ideas what the Takeover Panel would say about the status of the minority Ordinary shareholders ?

[pugugly] 22/11/2019 16:07

Clohn - Not a CGT but a Property development levy - eg: A tax on the uplift value when planning permission granted - Under previous socialist governments it was mainly applied (from memory) when planning permission was granted to allow allow agricultural land to be developed for housing.

World bank link Quoting 40% but Corbyn seems to be suggesting higher.
See also

[cjohn] 22/11/2019 15:03

The results were as expected.

In spite of the general poor sentiment with Brexit uncertainty and the specific and severe issues with the new emissions regulations and associated supply problems, the company made a profit. This is not unpromising.

If ever interest rates rise off rock bottom, the pension deficit will disappear providing a further boost to asset value.

These are really ludicrously cheap on asset grounds. The question is whether value will be realised in some way for shareholders, or whether they will remain ludicrously cheap.

[cjohn] 22/11/2019 14:50

PUGUGLY
22 Nov '19 - 11:22 - 566 of 568 Don't worry about the sites asset vales - Corbyn will take all the gains over book as development tax.



I personally am not "worried" about the very strong asset backing to the share.

I wasn't aware that the Labour Party's manifesto had a policy of 100% CGT on property revaluations. Interesting. Doubtless the national media will catch up with in you in the coming hours and this will splash on tonight's news.

[strathroyal] 22/11/2019 13:07

Was surprised that we didn't get more of an update on asset sales as the CBRE website has the Brookes Rd, Lewes site down as being Under Offer.

The results have to be seen in context with the car trade and seemed to me better than recent results from Lookers and Pentagon. Unfortunately the share price suffers from a ridiculously high spread otherwise I would have joined in with Mr P and bought some more but the trades today (presumably a sell at 302p and buys at 380p)make it nigh impossible to trade short term.

[eezymunny] 22/11/2019 11:38

Thing is those asset values are based on existing use as car dealerships. How realisable the value would be if you sold them is another matter. Mr Perloff I assume can see value. I don't have a clue.

[pugugly] 22/11/2019 11:22

Don't worry about the sites asset vales - Corbyn will take all the gains over book as development tax - So probably share price today is close to fair value (imo and could well depend on the results of the election)

Also most sites/dealerships are in the South East where most suffering from increased taxes will be felt.

Toxic (imo) until the results of the election are known. ...

[cjohn] 22/11/2019 11:10

Including the freehold property surplus, which isn't included on the balance sheet, they have a net asset value of around £13.50 per share.


No doubting the asset value, but will it be realised soon enough to provide a decent annual return to shareholders?

[jaf111] 22/11/2019 10:52

Yes family control........but hopefully Perloff has a cunning plan????

[arthur_lame_stocks] 22/11/2019 09:45

Unfortunately this company is controlled by the family through the prefs.

[mike_miikke] 22/11/2019 09:31

Net Asset Value on this site is over £10.00 per share but not sure if accuracy of that price. Big institutional holders may not be pleased at the moment. Their assessment of the future could influence events.