Seneca Growth Capital Vct Share Discussion Threads

[dunnie] 12/9/2004 11:47

Ukhawk,
i do accept it could be tactical,but i'm just stating it doesn't look great.However they may just be covering themselves on the downside in case the bid comes to nothing, don't forget the price was below 9p prior to the "POTENTIAL" of a bid. What we should all accept is bb's are for tossing around theories, ideas etc, and none of us really know until a bid is formalised.
Regards

[ukhawk] 12/9/2004 10:56

For the record, I've said all along that the price would be around 15/16/17p, if it happens. I also believe that HYG is worth more than that, but the facts are that it's still more than a 50% premium over the share price when the talks commenced.

dunnIE, I don't know why you won't accept that RAB selling a small percentage of their holding around 11p COULD be tactical. There's no doubt the price would have gone higher if they hadn't sold so early, so, if they doubted the deal, why didn't they wait ?

[barryrog] 12/9/2004 10:37

i am still convinced that the relatively small share sales,approx 5%,are being made to ensure a big profit is eventually realised on the 95% by protecting the share price.

[edmondj] 12/9/2004 08:00

Agree there, dunnIE, on the 20p issue, that's what makes HYG such a conundrum!

[dunnie] 12/9/2004 00:07

Ukhawk,
you say i may be a bit slow which i may be, but then again i might not be. You bring someone to the table who sells something for 11p when it's really worth 20p, and i will show you a liar or a conman. Get real, the deal is never going to happen at anywhere near the figures your quoting.
Regards

[edmondj] 11/9/2004 19:51

Amid the intrigue I drove via Penshurst and can confirm:

1. It's not an exciting area but maybe great to retire to.

2. The village is teaming with tourists. (Craft show this time.)

3. When you look at the original Swaylands building from the road, with its proud turrets, no way should it be demolished for a series of modern houses. There's inherent value in maintaining its majesty.

LOL, Tunbridge Wells' answer to Hampton Court!

[edmondj] 11/9/2004 14:17

According to my questioning the Honeygrove directors they have secured the necessary finance for Swaylands development, so unless I am being led up the English country mansion garden path...

[dunnie] 11/9/2004 13:44

Barryrog,
your quite right about what i said about RAB selling and we could all come up with theories, i am just surprised that they are doing their selling at 11p if it was 13-15p yes i would think it makes sense but 11p doesn't smell right. To borrow £3m off a bank would involve all kinds of costs, the bank would appoint valuers, quantity surveyers etc, and then there would be arrangement fees and i suspect they would charge 4/5% over base for the funds not withstanding personal gaurantees of the directors and their wives/partners. RAB investing would mean doing extensive due diligence and the same type of costs, without arrangement fees and interest charges, so i just feel a 1p turn does not stack up, even though it is a 10% return. My instinct tells me that all is not well but that is all it is a instinct. If anyone thinks i am trying to knock the price they could not be more wrong i have a significant holding in RAB, and it serves my interests best if Honeygrove does really well.
Regards

[barryrog] 11/9/2004 12:48

dunnIE,
first point is that HYG have already produced the development costs for swaysland which is how they have computed a potential profit of £15/20m on the project and also why they have turned down offers of £15m for the land having acquired it for £7m.
secondly,a couple of days ago,you said that RAB were adopting a very disciplined approach to the takeover speculation by drip feeding stock.
you also said that you thought that they were using the money to buy warrants.
now you are saying that RAB is selling as a vote of no confidence in the present management and selling is their way of saying get a deal done or we'll start forcing the issue.
i don't profess to know what actually is going on behind closed doors but as there is no evidence to suggest that there is a relationship issue between RAB and HYG, i would still speculate that the share sales to date have been designed to limit interest in the stock in order to keep the share price stable until negotiations are concluded.

[dunnie] 11/9/2004 11:26

Ukhawk,
well that's knocking it down out because of its listing,i really hope for shareholders sake that they do sell out. Refurbishment costs can really esculate even with all the professionals arond you,meeting fire regs and soundproofing alone is bad enough without having to comply with the English Heritage "crackpots".
Regards

[siri_edit] 11/9/2004 11:14

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[edmondj] 11/9/2004 10:57

Actually Penshurst is full of tourists going to Penshurst Place then having tea.

[edmondj] 11/9/2004 10:55

It really is not an exciting area, but as a shareholder I hope others continue to think so!

[siri_edit] 11/9/2004 10:48

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[edmondj] 11/9/2004 10:45

LOL, I find Penshurst and Tunbridge Wells as boring as hell!

[siri_edit] 11/9/2004 10:01

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[ukhawk] 11/9/2004 09:46

dunnIE, it's grade 2 listed.

[dunnie] 11/9/2004 02:21

The best thing HYG could do is flatten the Swaylands site and get permission for new build(unless its a listed building/s), the cost of refurbishment far outways the cost of newbuild.

[ukhawk] 10/9/2004 22:46

Barry, no problem. These things normally drag on for months, and if there is more than one suitor then quite likely here too, all we can do is wait.
I thought the cross trade was interesting because somebody might be looking to build a sizeable position. All pure speculation of course.

[barryrog] 10/9/2004 22:18

hawk,
sorry for not responding earlier.
to be honest,it is difficult to read anything into the share trades as they are being staged managed.
i contacted the co. today and as a shareholder i asked why, when in their original announcement they told shareholders to take no action,there biggest shareholder was selling significant nos. of shares.
the PR guy acknowledged my query but said he had passed it over to the finance director as a response would need to come from him.
a bit "tongue in cheek"i know but a reminder to the co. that there were shareholders out here that would like to know what is going on.

[ukhawk] 10/9/2004 19:09

Nobody excited about 750k changing hands then ? Guess not.

[ukhawk] 10/9/2004 13:12

This is a little more interesting guys ! This is an X trade which has gone through at the mid-price.

[dunnie] 10/9/2004 12:25

Another big sale going through at 11.125p looks like RAB have sold some more.

[barryrog] 10/9/2004 11:40

Hawk,
looks like the MMs have just released the balance of the RAB share sales.