IN House Share Discussion Threads

[wiganer] 26/6/2008 19:16

"Silverhall Estates is a Manchester based privately owned company"

wonder who the Directors/shareholders are?

[rbonnier] 26/6/2008 17:19

Things are going to get a hell of a lot worse property prices are expected to fall much further with no light at the end of the tunnel until 2010 at best.
It looks over for IHGP Cassidy should have placed the company into administration today as there appears no hope of surviving what will be a very long period of very depressed property prices. The £50k looks like only delaying the inevitable as the property market plunges into despair with falls of up to 40% expected.

[safman] 26/6/2008 16:09

lol..

saffy..

[haff1] 26/6/2008 16:08

...if there is a change in the market sentiment then at these levels any rise is going to make someone a lot of money.....Perhaps its time for a RTO?

[rbonnier] 26/6/2008 16:01

The caplans might have dumped the lot to take what they can before the receivers are called in imho.seems odd a 13m buy and still tanking only getting 0.03p for sells

[realcooltrader] 26/6/2008 15:56

Well, somebody's taken a gamble, 13.8m @ 0.085p. And the share price goes down again?

[rbonnier] 26/6/2008 15:47

There really is no wonder the banks are in the state they are when the likes of the dbs has gone and loaned this bankrupt company the money they have .Absolute desperation to have to give away 17% of the company for £50k.
To be honest Cassidy could have loaned the money but he cant be very confident of seeing this one through these dark days.
The shares now have a nominal value of 0.001p .Does this mean that if they reach 0.01p they can then go to 0.009 and lower or does it all stop at 0.01p

Thanks in advance.

[tiltonboy] 26/6/2008 15:39

Shares now trading at 0.03p per share. I might see if they need £500 in return for 10% of the equity.

[sofa spud] 26/6/2008 11:03

At least the purchase price for the latest acquisiton looks more realistic than some of the others, but buying investment properties in a market where prices are clearly falling AND rents are also beginning to fall is questionable.

Before buying any IHGP, check the spread - it's enormous at the moment! Bid is 30% below offer.

[waynerwayner] 26/6/2008 10:41

Loan notes really are a disaster to the near-medium future sp, as soon it makes any sort of progress the loan notes will get converted, the shares sold off and the share price will come back down again.

With loan notes now in the mix, I dont see this will get above 0.1p again for several years, if it survives that long of course.

[waynerwayner] 26/6/2008 10:34

tiltonboy - 26 Jun'08 - 08:29 - 2313 of 2315

Love to know what the formula was to convert a measly £50K loan into 17% of the equity; they must have been desperate.
-----------------

Indeed, and that values the company at £294k... not even enough to buy one decent house...

[rbonnier] 26/6/2008 10:16

Just to confirm it was to raise £50k I gave Cornish a call.So my instincts were right the company was bust and must have been desperate to accept 0.0376p.
Such severe dillution for a mere £50K

[realcooltrader] 26/6/2008 08:35

I'd like to think they've got the decimal point wrong, previous acquisitions were funded at 0.4p, so 0.376p does make sense, but you never know with this lot.

Edit: Oh well, nice thought whilst it lasted, thanks RB.

[tiltonboy] 26/6/2008 08:29

Love to know what the formula was to convert a measly £50K loan into 17% of the equity; they must have been desperate.

[waynerwayner] 26/6/2008 08:10

I work that out to be a £50k fund raising... and at a 3rd of the price of the current share price .. this is not looking good for holders...

[trigger45] 26/6/2008 07:17

For Immediate Release 26 June 2008

IN HOUSE GROUP PLC ("In House" or the "Company")

ACQUISITION OF PROPERTY PORTFOLIO AND ISSUE OF SHARES

The Board of In House Group plc, the AIM quoted property broking and management
company with a focus on purchase for resale, is pleased to announce that the
Company has agreed to acquire Avanti Properties Limited for £880,000. This
acquisition is consistent with earlier acquisitions of properties acquired at
under value for resale and is funded by the further funding facility with
Dunfermline Building Society announced on 1 May 2008. Avanti Properties Limited
owns 11 terraced houses in towns north of, and in easy commuting distance to,
Manchester. Completion of the deal is subject to independent valuation of the
properties which will be arranged by Dunfermline Building Society. The
acquisition has been fully funded with debt and therefore will not affect the
reported net asset position of the group.

HIGHLIGHTS

* Potential gross annual rent from the 11 properties of over £50,000 per
annum

* Underlying property value estimated in excess of £1.3 million

The Company also announces that it is issuing 132,978,723 shares to Silverhall
Estates Limited on conversion of a loan provided for working capital purposes.
After the issue of the shares, Silverhall Estates Limited will hold just over
17% of the enlarged share capital in the Company. The price is based on a
formula provided for in the convertible loan agreement and equates to a price
of 0.0376p. Silverhall Estates is a Manchester based privately owned company
that has previously assisted the group in property identification but is not an
existing shareholder.

Contact: Marcus Cassidy, In House Group Plc on 0845 061 9999

[e-mail]

Roland Cornish, Beaumont Cornish Limited,

0207 628 3396

[deanroberthunt] 25/6/2008 14:58

As soon as the first signs of the credit crunch started to surface (well ove a year ago).....any investor worth his/her salt should have been out of banks, builders and property stocks like an Italian soldier fleeing a battle field.....

luckily, I was never in any Banks, Builders and Property stocks to begin....I think the time is coming soon to think about picking up some of the banks...but stay well clear of the other two.

[keepitup] 25/6/2008 14:30

lol! that made me chuckle dean

[deanroberthunt] 25/6/2008 14:02

yep and they're both way way overvalued...

[waynerwayner] 25/6/2008 13:46

IHGP market cap now the same value as one reasonable size family house...

[brando69] 25/6/2008 13:41

errrr

IHGP would be a good start

[deanroberthunt] 25/6/2008 13:36

Can anyone inform me what stocks one should avoid in the biggest Property Downturn in recorded history....with a financial lending crisis to boot...

its a toughy, but please help...tia

[brando69] 25/6/2008 00:25

rbonnier is a twit... he reckons ROS is good shorting material. he's already down 20% in two days if he really did open his short... which he probably didn't