Discover Leisure Share Discussion Threads

[squire007] 30/12/2009 01:18

guess not then ...... ;-)

[squire007] 28/12/2009 12:09

any news or thoughts for 2010 ?

[squire007] 07/12/2009 20:49

got to wait for more snooooooze ........... zzzzzzzz boring come on

[robandkerry] 07/12/2009 13:54

Those results are really bad. Why has this not fell through the floor?

[21simthy] 07/12/2009 10:15

"cant wait"

Bet you can now lol !

Kitchen sink job, pretty abymsal figures but they are the past.

[squire007] 07/12/2009 01:09

cant wait ..........

[bogoff] 04/12/2009 18:40

spoke with neil harwood today results monday morning

[tomboyb] 03/12/2009 11:45

give it time to consolidate. but very good news yesterday. needs to keep up newsflow.

[21simthy] 03/12/2009 11:36

Cant see the logic in selling back to the mm at 1.1p !

Very unlikely to buy back cheaper and a bit impatient to sell so low
after such good news yesterday.

Oh and buys are hidden on plus but sales show on monitor....how convenient
for the 2 mm's :-))

[squire007] 02/12/2009 23:38

i think it was my post ref : topgear and a bit of swinging ... lol

nice 1 day result ... more to come

[tomboyb] 02/12/2009 16:27

good day today. maybe further rises to come now that they have more non core assets to sell. gl.

[naiad] 02/12/2009 13:57

It also says that the sale of these 3 properties with carrying value of £1.5 million will clear the balance of the loan which is £3.3 million. This would mean a further book profit, on top of the profit already realised from the reported sales, of about £1.8 million. All we need now is positive news about underlying trading profits.

[tomboyb] 02/12/2009 12:18

Discover Leisure sales reduce bank loan


Comments 0 Rating Unrated (0) EMAIL PRINT RSS SHARE TEXT SIZE: A A A

02 December 2009 @ 10:50 am BSTNext Markets Article
Caravan and holiday homes company Discover Leisure has sold properties for a total of about 3.5m and reduced the balance of its NatWest loan to 3.3m.

Trading activity at the properties ceased following a restructuring which accompanied the company's CVA this year.

The sales include Orpington Caravan Centre for 1.35m and land and buildings in Portsmouth for 1.65m.

The company says it hopes to conclude the sale of three further properties with a carrying value of 1.5m which are also surplus to requirements as a result of site closures.

Story provided by Business Financial Newswire

[tomboyb] 02/12/2009 11:33

make of it what you will. good rns and limits reopening. gl.

[tomboyb] 02/12/2009 11:26

yes indeed. that 666k buy pushed it up and i am certainly not a treacle side kick and resent that!

[21simthy] 02/12/2009 11:24

Tom.

It was good news and the volume cleared the overhang, i know one of those
sites they sold and not surprised they got such a big price for it as it
has potential or had potential the last time i cycled past it.

Treacle has no patience and will miss out again, with a streamlined operation,
sales up, caravans seem popular from the links he did post and most of the debt
eliminated from property dispoals it's another long term recovery play.

The downside is there is just 2 mm's with a wide spread and it can be very
illiquid at times, was impossible to sell prior to the news, now you cant buy,
it changes quickly and vice versa !

[tomboyb] 02/12/2009 11:18

15k online on offer at 1.198p. try it.

[tomboyb] 02/12/2009 11:12

i am no ones sidekick smithy. looking at the RNS it looks like the natwest loan will be paid off. guess what can't buy 50k online.

[21simthy] 02/12/2009 11:08

Well no treacle but his sidekick tom is here :-))

[tomboyb] 02/12/2009 11:06

looks like the natwest loan may well be paid off with further property disposals. nice 4 million buy in at .97p. i say that but it is priced at mid.

[tomboyb] 02/12/2009 11:03

TIDMDISL

RNS Number : 4518D
Discover Leisure PLC
02 December 2009

?
FOR IMMEDIATE RELEASE
2 December 2009




DISCOVER LEISURE PLC
('Discover Leisure' or 'the Group')


Property disposals


Discover Leisure plc is pleased to announce the following transactions involving
certain of the Group's freehold properties. Trading activity at these properties
had previously ceased in May 2009 following the restructuring exercise
accompanying the Company Voluntary Arrangement ("CVA"), the approval of which
was announced on 22 July 2009. As previously disclosed, the proceeds from these
disposals will be used to reduce the outstanding balance of the "non-performing"
loan of GBP5m due to NatWest.


Orpington (Orpington Caravan Centre Sevenoaks Road Orpington BR6 7LR) - the sale
of this property was completed on 30 November 2009. The property was sold to
Malcolm Andrews, Howard Clarke and John Pearce for a cash consideration of
GBP1,345,000. This compares with a carrying value in the accounts of the Group
of GBP1,263,000 as at 31 August 2009 and is GBP545,000 greater than a
professional valuation undertaken in April 2009.


Portsmouth (Land and buildings on the east side of London Road, Widley, Purbrook
PO7 5AE) - a contract for the sale was exchanged on 30 October 2009 with BDW
Trading Limited. This is subject to achieving planning permission and is for a
cash consideration of GBP1,650,000. This compares with a carrying value in the
Group's accounts of GBP1,500,000.


Carlisle (High Heskett, (A6) Carlisle, Cumbria, CA4 0JE). This property was sold
on 28 August 2009 for GBP120,000.


Wrexham (Dunster Road, Wrexham Industrial Estate, Wrexham LL13 9RE). This
property was also sold on 28 August 2009 for GBP230,000.


These last two transactions generated a profit of GBP78,000 compared to their
net book value.


The loan to Nat West now stands at GBP3,342,000 after applying the
aggregate net proceeds of these disposals and taking into account interest
accruing on this loan.


There are three further properties with a carrying value of GBP1,520,000, which
are also surplus to requirements as a result of site closures. These are being
marketed and interest has been expressed in all three and the board hopes to
conclude the sale of some of these properties in the near future. It is expected
that these properties will realise sufficient to pay off the balance of the loan
due to NatWest.

+---------------+----------------+
| For | 01430 803 385 |
| further | |
| information | |
| contact: | |
| Discover | |
| Leisure plc | |
+---------------+----------------+
| David | |
| Morrow, | |
| Chairman | |
+---------------+----------------+
| Trevor | |
| Parker, | |
| Chief | |
| Executive | |
+---------------+----------------+
| Neil | |
| Harwood, | |
| Finance | |
| Director | |
+---------------+----------------+
| Panmure | 020 7459 3600 |
| Gordon | |
| (UK) | |
| Limited | |
+---------------+----------------+
| Andrew | |
| Godber / | |
| Stuart | |
| Gledhill | |
+---------------+----------------+
| Cubitt | 020 7367 5100 |
| Consulting | |
+---------------+----------------+
| Brian | |
| Coleman-Smith | |
| / James | |
| Verstringhe / | |
| Nicola Krafft | |
+---------------+----------------+




Background Note


Discover Leisure is a leading specialist caravan and leisure industry retailer
which floated on AIM in May 2005. Following the restructuring of the Group's
activities, it is focused on the retailing of caravans and motor homes in the
North of England. It also sells a range of outdoor leisure products from its
branches and over the internet.


The Group has 5 branches across the North of England located at: Birtley
(Tyneside), Delamere (Cheshire), Chorley (Lancashire), Darlington
(County Durham) and York (Yorkshire). Its head office is situated in East
Yorkshire.


The board consists of David Morrow, Chairman; Trevor Parker, Chief Executive;
and Neil Harwood, Finance Director. The Non Executive Directors are Ian Currie,
Simon Dixon and James Hayward.



This information is provided by RNS
The company news service from the London Stock Exchange
END

DISUUGAGPUPBGUP

[21simthy] 02/12/2009 10:23

Shame treacle dumped all his stock :-))

[david77] 30/11/2009 16:06

More likely rock :-)