Conygar Investment Share Discussion Threads

[mtioc] 01/9/2013 18:44

I have read the thread and thanks for informative posts. I suspect I have missed the boat on this one, but it is still on the watch list.

I don't really understand the logic for current pipeline of development projects. For example, why are they all in remote parts of Wales?

How should they (in particular Haverfordwest or Holyhead Waterfront, which make up most of the cost to date) be valued? The projects are currently valued at cost, which does not help with the actual current value, which presumably reflects the project economics in current market conditions.

Haverfordwest (£15.2m of which £14m was 2009 land cost). I assume this will be partly depend on the Sainsbury's planning. Even if successful CIC's return will be driven by the local residential market. Any views or evidence as to viability (CIC website is a bit light!). Local press views appear mixed.

Holyhead (£8.87m) has planning and is in the process of finalising a s106. Again, little on viability of mixed commercial, retail and leisure. Again, any views? Also, with planning and a s106, shouldn't an advisor be able to value the current interest in the project?

Thanks

MTIOC

[deanowls1] 02/8/2013 07:12

Another 300k shares picked up into treasury.

[sleepy] 15/7/2013 14:31

Liam
The Master has spoken!
Sleepy

[skyship] 15/7/2013 11:45

LIAM - Sorry, but just about the worst piece of propco analysis I've read; but your age of course has a lot to do with it. Many misconceptions, misconstruals and misunderstandings.

No matter, you are out there doing something, putting yourself about. Hopefully it will lead to gainful employment.

In the meantime - go to UK-Analyst and read their article on CIC - c6weeks ago perhaps. It will help you understand where you went wrong, especially with your NAV figure; and especially with the schoolboy howler of equating commercial property in any way whatsoever with residential property.

Good luck to you...

[sleepy] 15/7/2013 10:47

Liam
Good summary
Are you sure about the CIC asset value?
Sleepy
(who called this "a very cheap share" sub 90p in May 12)

[liam_theboy_bulmer] 15/7/2013 10:05

Analytical article from a couple of weeks ago. Granted a bit old but still a nice summary of the business!

www.bulmerinvestments.com/conygar-investment-analysis/

Enjoy

[deepvalueinvestor] 14/7/2013 00:55

I was picking up CLLN and BLT lower down but nothing to brag about! I'm pleased I bought CRC well, though, so its swings and roundabouts.

[skyship] 13/7/2013 17:50

DVI - 123.5p over a month ago was a good price; especially if you found something good to play into. Perhaps you bought back into DSC...now that WOULD have been a good move!

[deepvalueinvestor] 12/7/2013 18:49

Well done. I took my money and ran a bit too quick it seems.

[skyship] 26/6/2013 07:49

Should underwrite the current sp:

Repurchase of own shares

Conygar announces that, in accordance with the terms of the general authority to make market purchases of its own shares granted to it by shareholders of the Company on 15 January 2013, and following the announcement on 5 February 2013, the Company acquired for cash in the market 330,000 ordinary shares of 5 pence each in the capital of the Company ("Shares") on 25 June 2013 at an average price of 118.5 pence per Share. The acquired shares will be held in treasury.

[spectoacc] 08/6/2013 10:41

Thanks deepvalueinvestor, & well done. Hoping I'll still be in if/when it goes to a premium to NAV, but we'll see! One day..

[deepvalueinvestor] 05/6/2013 19:40

I cleared out completely at 123.5p yesterday. Good luck to those who remain.

[skyship] 31/5/2013 09:30

CIC one of the Tips of the Week in today's IC - another good piece by Stephen Wilmot, following his successful tip for DSC...

Expect some buying this afternoon and on Monday.

[deepvalueinvestor] 25/5/2013 09:49

I missed the spike as I think I would have cleared out? Oh well, still looks ok.

[skyship] 24/5/2013 07:18

Repurchase of own shares:

Conygar announces that, in accordance with the terms of the general authority to make market purchases of its own shares granted to it by shareholders of the Company on 15 January 2013, and following the announcement on 5 February 2013, the Company acquired for cash in the market 270,000 ordinary shares of 5 pence each in the capital of the Company ("Shares") on 23 May 2013 at an average price of 117 pence per Share. The acquired Shares will be held in treasury.

[spectoacc] 23/5/2013 15:42

Spiked up about this yesterday I think, so I guess it's about flat! Very happy to hold these on that NAV discount.

[freda] 23/5/2013 14:59

Results look steady to me today. Everything appears to be going in the right direction, so suprised to see the 6% share price drop. I wonder what the market was expecting?

[gary1966] 22/5/2013 17:29

VC,

Kept trying to drop the bid but invariably holding the offer. Didn't encourage any selling. If the offer was dropped then most times it was bought into. Add in a large dollop of gut feel as well.

Gary

[void concept] 22/5/2013 15:44

Gary. I am a novice. What gave away the upward movement. Was is the wide spread of the past couple of days with a upward emphasis on the bid price?

[gary1966] 22/5/2013 15:08

Nice jump up in these today, been threatening for the last couple of weeks. 125p is now the key level to get through but may need to consolidate between 120-125p for a while first.

[smarm] 15/5/2013 11:12

News has moved the price...

...nice.

S

[skyship] 19/4/2013 10:34

And another chunky 1.5m trade @ 113p today...

[gary1966] 15/4/2013 16:22

Interesting trade of 1.33m shares. Couple of trades after and the bid price has improved 2p. I wonder if that trade has been worked for a while and has contributed to the consolidation period we have had. Hopefully the start of the next leg up.