We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register to chat with like-minded investors on our interactive forums.
| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Hirco | HRCO | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 20.25 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 20.25 |
| Top Posts |
|---|
Posted at 15/8/2013 12:36 by mrwhits1 @loverat,hope you didn't dive in, regards |
Posted at 28/6/2013 15:35 by horndean eagle Agree not all is lost but these mark to market losses are beginning to get particularly painful. I expect further downside from here although given it should be another 9 months before we get another wrist slitting inducing commentary I would hope it won't be too bad. What is really annoying is the uncertainty over everything. I am now even preparing for myself for the prospect that the assets might actually be worth zero with bank debt consuming any value in the project. What we were told years ago was that after the first phase there would be a significant cash surplus. With Indian rates of 14-15% compounded over 5 years I doubt very much whether that is the case.The mooted 55p offer by the family was flatly denied by advisers here. They don't really have any credibility left in my eyes so it may well have happened. Weiss won't accept that. They would want nearer 100p imho. The family look like they are going down the route of screwing the whole project over for everyone at present. They have apparently stopped work and are blaming HRCO for this. Therefore need arbitration settled pretty damn quick. |
Posted at 27/6/2013 15:12 by kenny Horndean Eagle - you are a long tem holder and know a lot more than me about HRCO. However, it appears to me that all is far from lost. There appears little that is new in today's statement. Indeed, the positive comment is the Board are seeking an "exit". The Family have offered 55p per share having offered 100p a year before that.The company raised £370m and most of that has gone on land and buildings followed by part of it being recycled after sale of some of the properties built, into building more properties. Surely therefore the current market capitalisation of £25m is a fraction of full value - even 55p is only about £55m? |
Posted at 27/6/2013 14:31 by horndean eagle Turning into a nightmare here. Must as I blame the Hiranandani's for most of this mess I don't believe the board should go blameless. Waiting as long as they did for arbitration has really screwed things up for us. Now we get the bombshell that the projects will need more equity as well. Or at least should it really be much of a surprise given the Hiranandani's already warned us of this back in 2011At the time shareholders might have been a bit sceptical of what was being said but they have been proven right in the fullness of time. We could do with more disclosure about the state of the finances at Burke and the assumptions used in the NAV calculation. When arbitration is due might also be helpful. Unfortunately Weiss have taken effective control of the company and it seems as totally disregarding the rights of other shareholders. Its not all totally lost here and I will add lower down but there is hardly any rush given a)lack of any arbitration dates and b)the prospect of another uplifting result commentary for another 9 months. |
Posted at 13/6/2013 13:36 by mister md wonder what will happen with HRCO ?Hiranandanis move court to block hostile takeover of Hirco OUR BUREAU Mar 28, 2013, 01.40AM IST Hirco Plc's board has rejected Hiranandani's offer to buy out the AIM-listed company for 55 million pounds. Since the agreement on price could not be reached between the two companies, the matter has been taken to the London Commercial Court and arbitration in Singapore, according to sources. A previous offer of 100 million pounds made to shareholders was rejected by the Board last year. According to sources, at the heart of the rejected bid lies an attempt of a hostile takeover of the firm by two of the largest shareholders that own almost 50 percent of the company - Weiss Asset Management and a Morrocan investor. A spokesman for the group said these arm-twisting tactics instigated by foreign activist hedge funds and an opaque north African investor is not going to succeed. "The family is committed to continue to protect and deliver product to our customers. We will work with our banks and ensure these hedge funds cannot sabotage the project and try and make a fast buck at the cost of our customers and local banks. Their tactics to starve the projects of capital will not work. It will only boomerang in their faces. We will work with the Indian banks to do what is right by the projects." It may be recalled that earlier this year, Doug Gardner, a former independent non-executive director at Hirco Plc and Priya Hiranandani had filed for damages against Hirco Plc in the Isle of Man court. Niranjan Hiranandani, the past Chairman of the company, too is suing Hirco Plc in the Singapore Court. According to sources, the dispute arises from the family's offer to buy Hirco Plc at 55 p a share. Weiss Asset Management currently has four seats of the five on the Hirco board and are represented by Ethan Milgram, David Burton, Peter Barge (past CEO of Jones Lang LaSalle), and John Chapman. John Chapman's experience includes investment funds in Brazil, Bulgaria, central Asia, Kazakhstan, Romania, South Africa, Turkey, Ukraine and Vietnam. His role as director of or advisor to these funds has typically been in connection with overseeing legal disputes and managing asset disposals. |
Posted at 22/4/2013 20:00 by praipus HRCO Results from back in March, NAV £1.97......just a dream? |
Posted at 07/2/2013 09:58 by horndean eagle Reports in India saying Hiranandani approached the company a couple of months ago with an offer of 55p a share. Given the shares were trading sub 40p he possibly thought he could pull a fast one. Weiss average is above that level so it stood very little chance of success. The offer does show that there is value in the company and hopefully any major dips are a thing of the past. Also I imagine the clock is beginning to tick for the Hiranadani's. They had hoped HRCO would get sick of waiting for any cash distributions from the company and would therefore cave in. Every month that passes brings us closer to a position when we will start to see cash filter back to us. In the meantime new block has been launched at 5000 rupees a square foot which isn't going to do any harm for us in the long term. |
Posted at 29/1/2013 18:23 by scburbs 7.5 months without an RNS of any substance is impressive going from HRCO!What they said at the interims was: "The Board will undertake a detailed site visit and review of progress on all aspects of the scheme at the end of September 2012. I look forward to keeping you updated on developments over the coming months." What they have said since ..... |
Posted at 29/1/2013 09:45 by horndean eagle Surprised large buyer from last week not re-appeared yet. Interest rate cut not likely to do any harm. Hirco have launched for sale a new building of 3bhk at 5000 rupees a square foot. Of the 20 released to date they have sold 14. Its a 30 floor plus building with 4 units per floor. They will gradually release 20 units at a time and try and mark the price up each time. Completion expected in about 3 years on this building. Gradually becoming more bullish on HRCO. We obviously have the Hiranandani's screwing us over but as time passes and more and more buliding's are completed the end game becomes closer. Turning into a long term position. |
Posted at 22/1/2013 17:55 by scburbs Hardly surprisingly that HRCO has been ticking up with such a bullish upgrade for the sector from negative to stable! The RBI 3rd quarter monetary review on 29th January is one to look for. They really need to get on with cutting interest rates!"INDIA The outlook for India's residential market has shifted from 'negative' to 'stable' despite continued weak demand and falling sales among the sector's dominant domestic players, according to India Ratings & Research, a subsidiary of US ratings agency Fitch. "Inflation is now at its lowest rate in 11 months. The slight fall continues the downward trend which started in October. The Reserve Bank of India (RBI) meets on 29 January to discuss interest rates. Siddhartha Sanyal, chief India economist with Barclays Capital, said he now expected the main interest rate to be cut to 7.75% from 8%." |
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
