Countrywide Share Discussion Threads

[philosopherad1] 25/11/2020 08:03

In the words of that great Welsh philosopher: "I know, I was there"! Jeez it was so bad it was almost funny! Ali Pali and Sam the tyrant. Couldn't have done more damage of they'd have planned it!

[hillofwad] 25/11/2020 06:57

1crack

Lions led by donkeys .Sales up 38% nationally last week compared to last year and CWD brands have enjoyed a big slice of that pie The undynamic duo are now leaving the premises .Time for the grown ups to get involved Revenue for H2 looking very healthy indeed.

[1crackupboom] 24/11/2020 20:42

Anyone know the bloke who turned up at CWD one day and handed over 8m quid as a direct investment? Writing was on the wall by that point already. Would love to know who it was. If I had known him I would have warned him off. It was 50 50 between CWD and PB and he chose CWD lol

[1crackupboom] 24/11/2020 20:37

I used to work for cwd. Absolute bunch of numptys. The things I could tell you all about the demise from 600p. You would be glued to your screen for hours. But I like the quiet life and signed a peice of paper

[tradejunkie2] 24/11/2020 20:17

I'm waiting for 5000p a share.

[hillofwad] 24/11/2020 15:08

Well unlikely that there is sufficient shareholder support to enable the BODS to recomrnd the Connells deal.Hoskings want to undertake an orderly unbundleing of brands to max out shareholder value
H2 is looking to be very robust indeed.Still knocking them out and putting plenty of hay in the barnynamic
Maybe just a small capital raise is all that is required now that the dynamic duo are gone

[squeamish1] 24/11/2020 14:30

This f*ing board. Why can’t they just accept the Connells approach and put everyone out of their misery.

[squeamish1] 23/11/2020 15:38

I'd say from this point there is a 0% chance of a higher bid (who would it be?) and 10% chance of administration.

[dsct] 23/11/2020 12:21

Seeing today's news,remindedd me I had a brief note on CWD from 2019 - "DYOR at <10p". I see there has been a 50:1 consolidation, but I never did much research at the time.

With the 250p offer, and being able to buy at 234p, would give a 6.8% profit, IF the deal goes through.

If there's a 10% chance of the deal not progressing (drop back to 150p) and a 10% chance of an improved offer (275p?), we have the following scenario :

150*10% + 250*80% + 275*10% = 242.5p
Therefore a possible 3% return.

I suppose it could be advisable to see the timetable, but is anyone else considering this, if they are holding cash in their portfolio ?

[hillofwad] 16/11/2020 12:54

Connells arrived at the party without a single share. Their interest no doubt stimulated by Alchemy

Hoskings have now increased their arbitrage position to 20%

Paterson no doubt would have been spending the last few weeks garnering support from the funds


Meanwhile rumours abound of another party arriving as New Kid on the Block

October has been a blockbuster month

Gunfight at the Ok Corral

Rampity ramp maybe 275p beckons?

[hillofwad] 11/11/2020 16:14

LSL Agree definitely a rank outsider


Dont rule out Paterson or a management buyout with investor or maybe someone like CBRE who are wedged up

250p might not even be the end of the story either

Should imagine that Connells have been casting their eyes over CWD for sometime. As you say astute and making their move at exactly the right time having carefully weighed up the pros and cons

The dreadful Alchemy deal prompting their move


They will never get another opportunity like it to fill all the gaps in Wales Scotland , the North, Cornwall&Central London where they are not represented for a rock bottom £150m
No doubt plenty of duplication ,amalgamations and closures inevitable

Competion Authority might require them to jettison a few brands

They will be very familiar with their branch network and the individuals and no doubt been in discussions with some of the senior execs at the Brands

Lets face it if the brand execs are good operaters they would already be reaching out for external investors to help get rid of the BODS who have done their level best to trash their careers

What are they going to find deal breaking under the bonnet they dont know already a few prof negligence cases some onerous car and property leases ?

Very happy to be adding to my holdings at this level

[tarrant777] 11/11/2020 14:29

If you are thinking that LSL may come bouncing along to have another look-think again. They've barely got enough management to run their own tin pot business never mind the holed and sinking Cwd super tanker. Also beware rushing in to buy shares expecting to trouser a quick big buck! Connells management are extremely astute and not known for throwing their money about. Once they've looked under the bonnet at Cwd and seen the extent of the mess, there has to be a BIG chance that they'll bid idiot Long good day!!

[hillofwad] 11/11/2020 11:29

Tarrant

Indeed Lucky the white knights are arriving before the BODS can do further damage

Only this bunch of incompetents can add more abortive fees entering into a corporate action on a deal which was never going to get shareholder approval

A scathing attack on Long in the Times

"Guess what? Far from it being the “only” solution, Countrywide’s now disclosed that four days before the prospectus was published it received an all-cash bid approach from rival Connells at a possible 250p: a 72 per cent premium to last Friday’s close. Countrywide shares duly shot up 41 per to 205p. And Mr Long has now come over all Baldrick, saying his Alchemy deal was part of a cunning plan to “flush out interested parties”. Not that anyone should fall for that."


Still chasing the Dane for £10m the drop in value of LSH abortive deal incurring more costs

Meanwhile back at the farm the footsoldiers still banging the deals out fees disappearing down a black hole of abortive costs

This is a great deal for Connells @ 250 p an opportune time at the height of shareholder dissatisfaction They have the moolah Very happy to be picking up shares @205p on the prospect of that Don't discount another kid on the block either

[tarrant777] 11/11/2020 10:30

The beaten up basket case that is Cwd, run by a bunch of incompetent clowns, burdened with enormous debt, has little or no chance of survival unless a bid from either Connells or Robin Paterson is accepted by shareholders as VC's bringing in new management with no relevant industry experience will simply delay the inevitable disappearance into the abyss.Meanwhile lawyers and investment bankers continue to draw millions in fees. They may eventually be the only winners!

[h0me] 11/11/2020 09:21

Am I right in thinking no action is now required on the tender/open offer? That's in the bin?

[squeamish1] 10/11/2020 08:34

Connells is owned by Skipton Building Society isn’t it? Can’t imagine financing is a problem

[euclid5] 10/11/2020 08:10

So Connells having all that cash, will require a small £25m loan, which they should get to fully T/O CWD. That's a much better offer than Alchemy. But will Connells still need to fund CWD with the changes required. i.e will they still need to do a funding raise once they t/o CWD

[nemesis6] 09/11/2020 11:20

mind you the cwd board....zzzzzzzzzzz

[nemesis6] 09/11/2020 11:19

Alchemy can go and f cuk themselves...sick of these vultures

[hillofwad] 09/11/2020 11:14

"Connells will pull out if the Alchemy deal is allowed to continue."

It will only be allowed to continue if shareholders vote for it and even if Connells bid crashes it doesn't make Alchemy's bid more attractive so extremely unlikley

That deal is now toast

Clever move by Connells who started this financial year with cash reserves of £75m
Perfect fit with no doubt some culling of branch offices

Nobody knows the business better

October has proved to be a great month for estate agents which kicks in the touch the pessimism surrounding the Alchemy sheep steal

[nemesis6] 09/11/2020 10:54

true...there is no such thing as a free lunch...perhaps harking back to the BT float days when my old man made a few bob

[nemesis6] 09/11/2020 10:51

does seem to good to be true...cant see the price going down to £1.35 though

[squeamish1] 09/11/2020 10:50

Nemesis, no such thing as a free lunch. You are missing the fact that the Alchemy deal and takeover by Connells purchase can't continue together. If Connells pull out, share price will crash. Connells will pull out if the Alchemy deal is allowed to continue.

I expect Alchemy will be sent packing by at least 25% of holders now Connells are sniffing. I have voted against the Alchemy arrangement with my measly holding.

[hillofwad] 09/11/2020 10:47

Its not going to happen in the light of Connells approach as it will require 75% shareholder approval

Suspect there will be plenty more action on the share price front

October revenue wise as seen plenty more hay arrive in the barn amongst the brands at CWD