Capital & Regional Share Discussion Threads

[nick rubens] 11/5/2010 14:37

and inspired me to re enter CAL with a modest purchase after some deliberation.

[nick rubens] 10/5/2010 09:39

Profits of £14.8m forecast for 2010 (4.25p EPS). First bit of something towards progress I've seen for a while.

[puzzler2] 09/5/2010 15:53

Topvest - I totally agree - transparency is the issue here. A while ago, I tried to understand the detail of the business by analysing the accounts, but it was just too tedious and frankly, I became bored - and I say this as a former partner of a top ten accountancy practice!

In his book, "Investing against the Tide", Anthony Bolton says "If the business model is very difficult to understand, I'm happy to pass on it".

[topvest] 09/5/2010 15:37

Just looked at the Annual Report. I think the main problem with CAL is transparency. They do try and give transparency, but their trading and balance sheet position is difficult to gauge. What with;

- Fund management
- Sno!zone
- 3 fund shares - The Mall, Junction and x-leisure
- A german JV
- Wholly owned properties
- Other JV's and associates

It's difficult to understand what is going on or value the business. Some form of separation might yield better value, as its difficult to gauge what value is left. From my reading, this is leveraged strongly to the underlying funds. If they default then the NAV goes down to 15-20p. If they increase NAV, as they have been doing, then NAV shoots up significantly as the shares of these funds are heavily written-down. Tempted to buy more on significant weakness. Anyone else any thoughts?

[m1keg] 06/5/2010 15:41

The disclosure rules means directors have to disclose their interests in the company. Since both are execs with ParkDev they BOTH have to give these shares as a base. They then have interests either in another company with shares in Cal(most likely) plus a few shares in CAL under their own name.

[nick rubens] 06/5/2010 15:07

The whole shareholder percentage list adds up in total to 111% ??? Can't be right.

Maybe they are duplicated somehow?

[nick rubens] 06/5/2010 15:05

M1keG From my TD Waterhouse Account....

Maybe its not clear. Parkdev own 20.84 %

NOt sure why these two individuals suddenly appear with 26.50 and 26.44%.

Major ShareholdersShares in issue:350.6m1p Ords Name

Amount % Holding
Louis Norval 92,909,750 26.50
Neno Haasbroek 92,705,500 26.44
Parkdev International Asset Mangers (pty) Ltd(dup A & C) 73,064,197 20.84
Morgan Stanley Invs Mgmt Ltd 23,266,987 6.64
Pinelake International(dup B) 18,924,243 5.40
Henderson Global Investors 16,424,287 4.68
RREEF Real Estate Ltd 16,303,481 4.65
Algemene Pensioen Group 15,592,426 4.45
Legal & General Group PLC 14,644,233 4.18
Standard Life Invs Ltd 12,101,145 3.45
Morley Fund Management & Aviva Plc 2,723,508 3.84

[m1keg] 05/5/2010 19:10

Don't know your source but in March the major shareholders as disclosed in the annual report was:
Parkdev International Asset Managers 73,064,197 20.84
Morgan Stanley Investment Management 23,266,987 6.64
Pinelake International 18,924,243 5.40
Henderson Global Investors 16,424,287 4.68
Rreef Real Estate 16,303,481 4.65
Algemene Pensioen Group 15,592,426 4.45
Legal & General Investment Management 14,644,233 4.18
Standard Life Investments 12,101,145 3.45

The two guys mentioned are Parkdevs non execs on the board. There has been no notifications on RNS either.

[monkeywrench] 05/5/2010 16:09

Wise choice IMO

[nick rubens] 05/5/2010 15:37

monkeywrench

Yes just done some research, Both are South African Investors. I'm suprised they own over 50% somehow, was it the placing which they bought into? I didn't notice these guys before and I certainly have a mistrust of a company in control of two shareholders obviously linked as well.

I don't think I'll be participating with CAL anymore.

[monkeywrench] 05/5/2010 14:55

Haasbroek, if it's the same guy, is a South African property dealer.

[nick rubens] 05/5/2010 13:11

Does anyone know who these two are? They own over 50% of CAL and are directors, though I never noticed them before.

Louis Norval 92,909,750 shares 26.50%
Neno Haasbroek 92,705,500 shares 26.44%

Its made me very cautious now as they both effectively decide what happens irrespective of what the other 47% might think.

[nick rubens] 05/5/2010 11:43

bid from who? Greek Government? lol

[monkeywrench] 01/5/2010 10:46

What makes you say that ?

[cemsmusic] 14/4/2010 15:48

34/35 to 38/39 is 10+%. Same pattern for the last 6 months. Better than savings accounts..

[warmsun] 14/4/2010 15:44

still here.....still waiting....... zzzzzzzzzzzzzzzz

they (whoever 'they' are I do not know) are trying to bore us into selling!!!!

[postiga08] 14/4/2010 15:09

tell me about it... at least the paint does something

[leoneobull] 12/4/2010 06:15

watching this is like watching paint dry

[1nf3rn0] 29/3/2010 09:57

CAL. is apparently recommended as a 'Buy' in last weeks IC.

Is anyone that has read the article able to summarise the main points?

[warmsun] 18/3/2010 17:14

All in all, not a bad day!

Onwards and upwards, hopefully.

[paragon157] 18/3/2010 17:04

Yeah .. Luvvly Jubbly .. Lmao at them !

[dcd] 18/3/2010 16:42

Well i just love that when shorters come on first thing and call it down when they have opend their shorts and the share price ends blue. LOL


18p nob head.

[paragon157] 18/3/2010 15:58

Lmao at LS Lowry .. He is also on the DEB thread every so often with his comments .. When he is about normally the share price is on the Up !

[warmsun] 18/3/2010 15:45

Perhaps you had better close your short Lowry.