Ishr Msci Emu Discussion Threads

[shawzie] 27/4/2004 13:03

hybrasil

I am interested in your comments regarding nav and it would be enlightening
to know what constitutes the value of fixed assets.
This company may have a broad mixture of owning, leasing, renting, managing, etc., so is the fixed asset value purely company owned bricks and mortar?

shawzie

[hybrasil] 24/4/2004 10:38

This is the sort of share that should attract a load more interest. Trading at 42p with an NAV of 130 you could say there is room for improvment!. But the good news is that the hotel sector seems to have turned the corner (Thursdays FT)and that rates seem finally to be turning upwards after a very long period of misery.

I tried to get to the bottom of exactly what constitutes the net assets and the company very properly would not exactly analyse it for me but they assure me they are there and that the bank insisted on loads of valuations. So I will live with that.

Where to now . Well there must be the posssibility of a little bit of corporate activity. Surely there is someone out there who wants to buy £1.30 for 40p. I'll even sell you mine for 80p

[hybrasil] 17/9/2003 22:33

I agree they seem very underpriced. Even at half net asset we are talking about approx 70p

[esrimeur] 17/9/2003 21:51

Well, CEU is an experiment as to the transferability of US values to Europe. I reserve judgement. The discount to NAV as of today is encouraging of a further rise in our share price, but that takes buyers - and I see few. Just a few (say £100k) buyers would propel CEU to 75p-ish, I think, but the big question is when might they energe? Mr Lawson is an interesting bloke - I hope he is not Mark Lawson of BBC2 and Radio 4!!!!!

[hybrasil] 17/9/2003 21:22

By accident bought more yesterday at 48.

[ydderf] 17/9/2003 13:25

lol:) i am the greatest on all bbs!

[latestarter] 17/9/2003 08:04

reports today NAV 139p

[hybrasil] 07/9/2003 00:26

Yes. I asked my broker to buy some stock just to see what was there. It shows the real price for these is probably about 45

[spob] 05/9/2003 04:26

Does anyone have an explanation for the sudden jump on wednesday?

It doesn't make sense. Not a single buy on the day, all sells.

No news that i've seen ?

[esrimeur] 04/9/2003 20:28

I took a large profit on the concentration when the US tax losses proved more valuable than the shares (which of itself spoke volumes - one cannot use losses in US without at leas equal profits to offset), then bought again on the first dip after selling. The European market is similar to the US, so the surrender by CHE of their Master Franchise to the Yanks did CHE no harm, the Yanks operate so similarly to the Continentals and we in UK are so different in the hotel market.

Just returned from touring France for 4 months, staying in many Choices. All on low-value sites, usually on periphery of industrial estates. Just would not wash here. Take Reims, a popular tourist destination. Novotel - at twice the rates at least - packed with Brits, Choice not even manned (credit card entry, a la US motel). Franchisees on very low level of control, some good ones, some dire ones, but all as cheap as chips. In France, most Choices also have a restaurant franchise, the same one, forget the branding, but locals patronise for cheap (by French standards) lunch & dinner.

Here, and in Eire, the sites are much better and multi-branding will always work. The difference is that in US & Europe, the site value is always underpinned by the alternative uses (ie industrial/commercial), because the construction costs are low, being all newbuild to a formula. Whereas here, the site value will usually include the building, especially with the Comforts and Qualities, and so will fluctuate with the state of the hotel market. Selling to franchisees or incomers has been necessary, but when the market cycles back, I expect acquisitions, which will be easy once the owned hotels can provide the colateral.

[ydderf] 04/9/2003 10:52

lol! i am a true MASTER and ACE

[maty] 03/9/2003 19:51

breakout!"!!!

[bearfoot] 03/9/2003 14:31

Up 9.5p!!!!! I smell a takeover bid!!!!!

[bearfoot] 03/9/2003 14:19

I'm a longtime (value) holder. Can anyone throw any light on the sustained mark up of these shares given the apparently negible trades? Are there rumours about to hatch? I can imagine, with such a high NAV, and low interest rates how this could be a nice little acquistion....buying £5 notes for £2....any thoughts/news/insight? 8-)

[hybrasil] 02/9/2003 21:23

bought some with some difficulty yesterday.
Anybody know anything about this. I was a shareholder before and got out when the americans very kindly and I believe without precedent simply handed back their shares. What exactly are the assets that make up this huge discount?

[maty] 05/8/2003 10:33

breakout soon and watch this hare move

[maty] 31/7/2003 00:22

breakout this share is going to rock I suspect with the great tourist dollar beeing spent more freely

[maty] 21/6/2003 17:49

whar do you think is the next step for this share, seems to be on an up but how far, and what sort of news do we expect

[maty] 20/6/2003 00:21

much too cheap and in a market which is doing well this year, I am in Spain and the hotels are brimming and the americans are coming bachk and travelling again big time this summer, they have their confidence back. good luck to all

[empirestate] 19/6/2003 14:25

freddy, i look the look of this, will be buying a few

[neg] 19/6/2003 10:34

Hi Freddy,

I have been buying over the last two months and added more yesterday and this morning (the trades have yet to show). This share is summarised by the following stats: market cap £7m buys you turnover £78m and shareholder funds of £32m representing net assets per share of £1.36. Enough said.

[ydderf] 19/6/2003 10:26

my guess is that the large seller was cleared out yesterday......

[bearfoot] 19/6/2003 09:28

Hi ydderF! Why's this share being moved up almost 20% over 2 days on almost no trades? I understand the background and attraction of the stock (net assets high etc.) but wondered if you thought there was a particular reason for why it's been marked up so quickly.