Capital & Regional Share Discussion Threads

[1nf3rn0] 16/6/2010 09:44

Well that's the MEN arena sold at last. Thought they'd get a bit more for it, but still a small premium to 2009 y/e valuation.

[azalea] 03/6/2010 14:15

2009 Eps -54p. 2010 3 brokers consensus 3.8p!

[azalea] 03/6/2010 12:34

Following on from Newton's 150k @ 33p(20/5), Haasbroek bought 120k @ 32p(28/5).


Evo and Numis gave buy reccs 19/5, KBC Peelhunt gave a buy recc 1/6

IC (9/1/10) picked C&R as a Tip of the Year @ 36p. Against that background I am in today @ 33p.

[nick rubens] 26/5/2010 10:10

Recent Director buy
Philip Newton 150,000 33p

I think many are waiting to pile in at lower levels, but we might not drift as the last statement was fairly upbeat. Any sign of a rally will bring the crowds back in. Patience is needed. I was bearish a few months ago though now I have started to buy a few.

[ydderf] 20/5/2010 13:45

is there a divi?

[warmsun] 12/5/2010 17:01

Having sat here for months and witnessed nothing happening, that is a big 'if' !!!

[nick rubens] 12/5/2010 16:04

lol CAL of course. If this moves up again soon, there will be alot more activity once again on this thread.

[monkeywrench] 12/5/2010 14:00

Is that you Nick or CAL ?

[nick rubens] 12/5/2010 12:15

Raised £18m in a property sale. Probably use the cash to reduce the debt level. Nothing spectacular but better than a sale and lease back like some non property companies are forced to do.

[nick rubens] 11/5/2010 16:37

Should be an Interim Statement due this month hopefully and Interim results in a around two months time. There should be an increase in NAV with all the Quantatative easing billions pumped in the economy. Inflation is on the side of those who own assetts and not cash.

I've traded in and out of CAL but at some point it should be a long term hold.

[postiga08] 11/5/2010 15:38

bick, when will these profits be announced do you know? im sick of watching CAL do nothing...bought in off the back of that rights issue after so much promise but ever since then its been 39p to 35p and now below!!

[nick rubens] 11/5/2010 15:37

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

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

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 16:53

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 16:37

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 16:41

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 16:07

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 16:05

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 20:10

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 17:09

Wise choice IMO

[nick rubens] 05/5/2010 16:37

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 15:55

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

[nick rubens] 05/5/2010 14:11

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 12:43

bid from who? Greek Government? lol