John Laing Share Discussion Threads

[jonwig] 06/5/2021 16:21

It takes a bit of time to calculate a NAV, so they won't be telling us that today. But I agree, I'd want 400p+ for this.

[18bt] 06/5/2021 16:20

At least the chairman is an M&A expert

[salpara111] 06/5/2021 16:03

As someone who bought in a few weeks ago at 305 I am not unhappy!
Agree that it should be £4 at least but lets just see what the next couple of days bring.

[18bt] 06/5/2021 14:28

That looks very opportunisitc. Agree it needs to start with a 4

[chc15] 06/5/2021 13:15

I was just thinking it could be a takeover target, the share price has struggled for a while.

[skinny] 06/5/2021 13:14

Well, well.

[riverman77] 06/5/2021 13:13

I expected there would be a strong institutional demand for JLG's assets so no surprise about news of a bid. Just hope we get decent premium to book value. Would be disappointed for anything less than 400p, given that it was trading around there not too long ago.

[alter ego] 06/5/2021 13:12

RNS just out

"Following recent share price movement, the Board of John Laing Group plc ("John Laing" or the "Company") (LSE: JLG-GB) confirms that it is in discussions with KKR & Co. Inc. ("KKR") regarding a possible offer by KKR for the entire issued and to be issued ordinary share capital of John Laing."

[salpara111] 29/4/2021 11:50

Solid update but agree it would have been better to see an actual NAV. I am guessing that they are anticipating some actions before the next set of results that will give a more flattering view.
I only bought in here pretty recently so am actually above water and am happy to hold for the next set of results.

[essentialinvestor] 28/4/2021 17:01

Nicer if they gave an actual NAV figure.

Sold some today, which I can hopefully add back on a bad day.

[jonwig] 28/4/2021 06:50

"Strong realisation results with each realisation achieved at a premium to book value"

I can't help but be a bit cynical about these statements. Over-conservative recording of book value will always achieve such outcomes.
(And I think their discount rates in general are higher than they need be.)

Still, it's nice to get such an update!

[skinny] 26/4/2021 15:44

Yes first 1 million+ day for a month.

[essentialinvestor] 26/4/2021 15:30

Getting some support.

[essentialinvestor] 20/4/2021 09:04

Added this AM, XD Thursday week for the final + special.

[essentialinvestor] 13/4/2021 07:57

Bought a few back sold last week.

[essentialinvestor] 08/4/2021 08:22

Like that RNS.

[18bt] 08/4/2021 06:37

This is an interesting new dimension. There are concerns that the re-sale value of new M&S homes falls as they have very high service charges, but on a buy to hold basis these risks would be much reduced. It's certainly a growth area and build to rent is attracting quite a lot of money. Two quality partners.

[jonwig] 08/4/2021 06:10

New direction, buy-to-rent/retirement homes:

[18bt] 01/4/2021 06:24

jonwig, yes I saw that too, having just swapped my 3iN shareholding which I felt was standing at too great a premium into JLG. I like the recycling apporach from renewable energy into asssets which are less prone to power price changes. Having also ridden a big share price rise in ICP over the years as it moved from being valued on NAV to one that is valued on earnings as it takes on the management of 3rd party funds, I like that potential too in JLG.

[jonwig] 01/4/2021 06:18

The investment - coincidentally, 3IN has made a very similar fibre broadband investment in Berlin, also announced today.

3IN makes the point that Germany in a European laggard in high-speed fibre, and has a lot of catching up to do.

[skinny] 01/4/2021 06:04

.

.

[skinny] 31/3/2021 06:04

.

John Laing Group plc ("John Laing" or the "Group") today announces that it has completed the sale of its 17.26% interest in the New Royal Adelaide Hospital ("NRAH") to funds managed by AMP Capital (the "Transaction").

The consideration received for NRAH represents a good uplift to John Laing's book value of GBP69 million as at 31 December 2020.

The NRAH project represents a mature operational project within the Group's secondary portfolio, having been operational since 2017, and this Transaction is consistent with the Group's strategy to realise these types of secondary investments and re-invest the proceeds in new opportunities in greenfield projects and in economic infrastructure businesses and platforms. This Transaction also accelerates and crystalises NAV accretion, some of which was due over the course of the rest of 2021, and further de-risks the portfolio.

John Laing's investment in NRAH in 2011 marked the Group's entry into the Australian PPP market. NRAH was successfully delivered by Celsus, a consortium in which John Laing holds a 17.26% share. The availability-based project consisted of the financing, design, construction and operation of non-clinical services for 35-years, and the hospital entered into operation in 2017. Since investing in NRAH in 2011, John Laing has worked closely with its partners on this AUD1.85 billion project through the construction phase, successfully bringing it into operation in 2017. Since first investing in the project in 2011, John Laing has invested GBP37 million in total in NRAH.

Shareholders participate in the success of realisations through the special dividend, with the Group paying out approximately 5-10% of gross proceeds received from the sale of investments on an annual basis. This Transaction further strengthens visibility on the 2021 special dividend, with total proceeds eligible to be included in the 2021 special dividend calculation to date amounting to GBP433 million [1] , consisting of expected proceeds from this Transaction and the sales of the Australian wind farm portfolio, the second stage of IEP East and the Rammeldalsberget wind farm.

Ben Loomes, Chief Executive of John Laing, said:

"We are delighted to have successfully completed the sale of the New Royal Adelaide Hospital to funds managed by AMP Capital. Our investment in 2011 marked our entry into the Australian market, and the hospital today plays an integral part in the community. The New Royal Adelaide Hospital is an example of how state-of-the art healthcare infrastructure can improve the provision of essential services to deliver the best healthcare outcomes. We are proud to have played a role in bringing the facility into operations working alongside our partners and the Government of South Australia."

[jackdaw4243] 19/3/2021 15:22

In that case onward and hopefully upward with a nice divi.