Galliford Try Share Discussion Threads

[fizzypop] 27/3/2018 12:14

WheelieDealer
‏ @wheeliedealer
4h4 hours ago

#GFRD doing 1 for 3 Rights Issue at 568p a Share - so for every 3 Shares we hold we can buy another Share for 568p. I'll probably buy the New Shares. We don't have to buy the Shares and the 'Rights' themselves usually have a Value and you can Sell the Rights.
1 reply . 0 retweets 8 likes

[deb81e] 27/3/2018 11:34

Thanks Typo56

[typo56] 27/3/2018 11:27

Yes, provided you hold them at close today, that's what it will cost to take up your entitlement in full.

The value of those 9,097 will probably fall around 10% tomorrow though, to offset the value of obtaining those 'bargain' shares.

[deb81e] 27/3/2018 11:22

So am I right in my calculations that I have 9,097 shares divided by 3 entitles me to 3,032 rights issue shares @ £5.68 = £17,221

[typo56] 27/3/2018 10:19

Yes, Jimmy, but if you're holding in a broker nominee account they'll want to know before 13 April.

Bear in mind you can also sell your rights or simply let them laspe, in which case you'll receive payment for them. Apart from dealing costs, rights don't really give you any special deal over buying the shares in the open market.

[jimmywilson612] 27/3/2018 10:10

So it's my understanding - whatever shareholding we have at the close of play today will then be entitled to buy 1 share for every 3 we own at the right of 568p? And we have until the 13th April to declare what our decision will be?

[hvs] 27/3/2018 09:55

Since 28p is being paid as the interim the final dividend may be around 40p if lucky.

lol !!!!

IDIOTS come and they GO

[careful] 27/3/2018 09:43

Good to see that rights issue will be all over by 16th April.
All over in about 3 weeks, normal trading by that day.

I hate it when it drags on and the messy trading of rights shares gives the traders something to manipulate.
this is good, clean, tidy and quick.

[speedsgh] 27/3/2018 09:04

Galliford Try sells stake in northern schools PPP -

Galliford Try has sold its 45 per cent equity stake in its northern school PPP project to an infrastructure investment company for £9m.

HICL Infrastructure’s acquisition takes it total stake in the North East Priority Schools Building Programme to 90 per cent, with the Treasury’s IUK Investments holding the remaining 10 per cent.

Galliford Try no longer holds any equity in the scheme...

[typo56] 27/3/2018 09:00

I can't see the rights price matters, if you're taking up your entitlement in full. Total cost is the same, and you end up with the same share of the company.

Look at JLG yesterday - over 97% subscribed.

[value hound] 27/3/2018 08:49

Far better than a placing (obviously) and a good opportunity for long-termers IMO.

[careful] 27/3/2018 08:42

it will cost about 20% of our current holding.
seems ok.
ex right fully paid price will be about £8.50.

[stemis] 27/3/2018 08:14

At least it's a rights not a placing...

[marksp2011] 27/3/2018 07:43

A 32% discount after a 30% fall
I have never seen anything so bloody stupid as this. Announce a RI, say nothing, the share price tanks then....discount the RI by 30% to get it underwritten.

Someone needs shooting

[volvo] 27/3/2018 07:28

...a £157m overhang,no time limit on selling, nice business!

A strong successful business does not need to offer a 32pc discount...

[marksp2011] 27/3/2018 07:18

1:3 @ 568
What a farce

A year ago these were £16

[speedsgh] 23/3/2018 18:41

Aberdeen bypass opening delayed until the autumn -

The opening of the Aberdeen Western Peripheral Route (AWPR) is expected to be delayed until late autumn, the Economy Secretary has said.

The Scottish Government had hoped the £745m project would be completed by the spring following previous setbacks. However, Keith Brown told MSPs the further delay had been caused by adverse weather, contractor disputes and the collapse of construction giant Carillion.

Carillion formed part of the Aberdeen Roads Ltd (ARL) consortium, leading the work alongside Balfour Beatty and Galliford Try.

Brown said that although ARL has said its target is to open the 28-mile bypass during August, Transport Scotland has indicated a "late autumn" completion is anticipated.

"The contractor has cited delays which it attributes to factors including the cumulative effects of weather events on the project such as Storm Frank in 2015 and delays in relation to the timing of public utility diversions," he said. "An additional complicating factor has arisen from the collapse of Carillion, one of the joint venture partners."

Brown said he had been advised by Transport Scotland that an August opening was "based on somewhat aggressive programming with limited contingency".

"Whilst I welcome the efforts being made by the contractor to secure as early an opening as possible, I've been advised that it's prudent to anticipate the potential for a late autumn 2018 opening date for all project roads."...

[mayers] 21/3/2018 20:52

Should the Melrose bid for GKN fail perhaps it might turn its attentions to GFRD.

[highlands] 21/3/2018 19:18

If Blackrock reduced their already substantial holding, I'd be worried as they would be better informed than the smaller investors. As it is , i take it as a huge vote if confidence and confirms my opinion of this as a good recovery play even if it is not taken out.

[scrwal] 21/3/2018 18:55

There will be a dividend cut since last years was based on 1.6x cover. This is now 2.0x so as an example only if the total earnings for dividend purposes last year was £16M then the total dividends paid would be £10M. With the cover now at 2.0x then the total dividend paid is £8M a 20% reduction. You then have to now factor in that in order to maintain your current level of dividend received,in cash terms, you have to fork out your share of the rights issue circa 20% of the current value as well. This is before any changes regarding the dividend being cut even further or increased.

[eggbaconandbubble] 21/3/2018 18:39

Takeover target usually means +40%. Better than a slap in the tummy with a wet fish!

Two questions I ask myself:-

- Is GFRD likely to go bust? Very very doubtful.

- Are they likely to cut back the divi? Maybe, but even a 50% drop is still a good return.

In the meantime Weyhey! Double+ the return of a buy-to-let and without the agro!

Or am I deluding myself? (Sorry 3 questions!)

EB&B.

[dr_smith] 21/3/2018 16:29

Thank-you speedsgh.
My only knowledge of Blackrock is that they are often behind short attacks for shares I own.
Can't help thinking Blackrock are in it for a short term gain, possibly connected to the rights issue.

Suspicions re-enforced when I see:
"Galliford Try declined to comment. Blackrock has yet to respond to a request for comment."

[highlands] 21/3/2018 16:19

Once the funding is sorted and this large major legacy project is completed, GFRD could become a takeover target.

[speedsgh] 21/3/2018 10:19

Balfour-Galliford JV probes pay-for-wage allegations -

Balfour Beatty and Galliford Try’s joint venture on the Aberdeen Western Peripheral Route (AWPR) has launched an investigation into claims staff on the problem project were charged up to £100 to receive their wages.