Countrywide Share Discussion Threads

[typo56] 09/8/2018 15:14

lol, really? Come on, look back at the rampy stuff you posted. Of course, that will have all been 'in jest'.

[superslickrick10] 09/8/2018 15:11

I'm fine with facts. Ity's when people deliberately leave out information or make claims that they either know cannot be true or just talking complete BSD (see Hillofwead's comments re brands within CWD leaving or landlord contracts up for renewal - either his lying or just talking complete BS and he knows it!).

Like I say there is a certain way that I like to make my money and it's mainly through ethical means...I seem to have come across a website of "say anything you want" merchants.

Bizarre.

[typo56] 09/8/2018 14:59

It rather sounds like the factual stuff doesn't fit in with your agenda!

[superslickrick10] 09/8/2018 14:44

No but seriously, is this website all about saying whatever you can get away with to help push your agenda, or saying factual stuff?

I appreciate people have got money on the line, it's just that for me there's a certain way that I like to earn my money? It would be good to know.

[typo56] 09/8/2018 14:40

That would have been information overload.

When do the bid rumours start?

[superslickrick10] 09/8/2018 14:15

Typo...honesty Typo...honesty....don't forget the bit where the share price has been reduced to a recommneded price of 17.2p.

[typo56] 09/8/2018 14:05

Credit Suisse:-

"whilst the current share price looks depressed, we still see some headwinds ahead of the group and thus do not believe the risk/reward trade-off has yet swung to the upside.

Specifically:

i) UK housing transactions are showing little sign of improvement;

ii) we estimate the group is facing a potential £14mln EBITDA hit when the ban on lettings admin fees is introduced next year;

iii) we believe the group's desire to grow profitability through cross-selling could be hindered by a potential ban on estate agent referral fees (which is currently in consultation).”;

[smithless] 09/8/2018 12:45

typo56 - thanks, should have been EV of £315m

[typo56] 09/8/2018 12:31

Enterprise value £115m? Really? With 1,638m shares in issue?

I was thinking more like 3x that.

Have you taken the upside of the £129m from the placing, but ignored the minor downside of the 1,400m extra shares?

[smithless] 09/8/2018 11:49

Some of the new investors in placing will be forward selling at a 40% profit, but the situation will stabilize. The enterprise value post placing is approx £115m at the current share price, which doesn't seem a lot if it can get its gearing to work. Not in yet as too many flippers in the mkt, but old investors putting yet more money in (will want a many x share increase) gives hope of a turnaround here. If they saw no hope, they would have walked and let it go administration. Need a decent CEO, as exe chairman not up to it. New and old serious investors would have insisted on this at pre-placing talks imho

[typo56] 09/8/2018 11:21

Three more weeks of this. New shares aren't admitted until 30 August.

And they didn't have the time to do a rights issue!

[blueball] 09/8/2018 11:15

Sub 10p this week imo.

[dt1010] 09/8/2018 11:05

Back to 10p

This will be broken up

I betcha

[hillofwad] 09/8/2018 10:46

Never worked for CWD but like Hernando was around 30 years ago and a young commercial property surveyor

I was a young junior equity partner in a small practice with 2 offices. ,They literally were the last ones to be bought out by the Pru in the early 90s

The music had already stopped and the Pru tried to renege the deal but my ex -senior partner a blunt Yorkshireman bullied them into signing saying we shook hands The Man from the Pru can not be as good as their word! .He wrote letters to all the Pru's Directors home addresses!! -it did the trick
So they went ahead LOL.Deal of the century!

My ex 2 partners spent the the next 2 years with a salary spending their big cheques buying and refurbishing holiday homes . Did SFA at the offices and bought the business back for nothing .It was amazing how it perked up

Not that I benefited mind I had left a year before the sale to start up by myself relinquishing my equity for my company car and my tax bills paid plus some fees sharing LOL Good timing !!!

Forgot sorry when they did the deal they bought me lunch as my name was still on one of the office leases so they needed my consent to remove it !I didn't begrudge them

[hernando2] 09/8/2018 09:50

Hillofwad- I was around when the Building societies bought up estate agents around 28-30 years ago, same thing happened.

I was part of the integration team, we paid fortunes to small business run be couples and some friends that had been amalgamated under a 'brand', they came to the integration events laughing their socks off, just waiting for their lock in period to expire...

[begorrah88] 09/8/2018 09:28

Gotta say hillofwad is bang on as he always has been.

He has called this right for years and is obviously an ex employee [takes one to know one] so knows the reality.

Over the past couple of years we have seen many 'the king is dead, long live the king' flag saluters at CWD and they will have a job getting many of the good people who have left back.

[hillofwad] 09/8/2018 07:36

Super

This current scene at CWD was always going to happen before even Platt arrived when borrowed monies were used to buy revenue

LOL you really don't understand how the estate agency world works. It's a people centric business as evident by CWD paying out tens of millions for brands to find out that if the good and best walk out of the door the revenue diminishes .That is the danger here that it diminshes even further .The signs aren't good
They are fully aware of that

Sure the surveying side and FS a little different but still in danger of losing contracts and good people.This "break up "value is already crumbling

Sure there is a "value" attaching to the "name" of the business but when its relatively simple for the senior guys to set up shop who have been farming their territory for years,made a success of it before CWD arrived on the scene there is a limit .Just go and have a word with the lads at BTW Shiells in Belfast.Sold out twice to CWD in its various guises for millions bought back for peanuts and the whole merry dance starts up again

This will be happening as estate agents are natural dealmakers.It's what they do for a living is they will be buying themselves back for SFA .It's the way it's always been in a challenging market

Sure LSH still commands a value but don't expect anything close to what Strutts achieved last year.

The mighty Savills reporting today who are showing a revenue drop LSH have already been hawked around the market and the price achieveable certainly won't remove the debt and then a big chunk of the revenue has gone

[typo56] 08/8/2018 21:36

Excluding the £129m of new cash, the company will now be worth less than it was before. That's an achievement!

[costax1654x] 08/8/2018 20:26

Is a new listed company BigDISH,next JustEat,small mcap,huge customer expansion in Asia coming to UK.Ex JustEat Ceo,Ex play.com Ceo,app is on AIS and google,offering discounts at restaurants up to 70%.Brilliant story.It will be a few baggers soon

[superslickrick10] 08/8/2018 19:13

Hillofwad...I'm sorry I've had enough of the nonsense...how are you possibly suggesting that the staff at the brands can take the business elsewhere. This is just plain silly.

I think I've come across the wrong website....I thought this was where we have an honest debate but clearly it's not.


I'll sit back and watch from now on I think.

[typo56] 08/8/2018 16:43

Old Mutual reduced a bit I think, from 1.57% to 1.01%.

[horndean eagle] 08/8/2018 16:30

Hadn't noticed short position has risen a fair bit last week or so. Blackrock, Old Mutual and TT all jumping on it the day it was announced and the day after. I imagine they got allocations so flipping in some cases. In others just smashing it lower for same reason as me. We are approaching fair value so close to exiting.

[blueball] 08/8/2018 15:05

This is not about losing money fool.

[typo56] 08/8/2018 15:05

Yes, a market cap of £5bn sounds entirely reasonable.

Market cap previously peaked at about £1.5bn around March 2014, but the company and the market are in so much better shape now!