Medsea Estates Share Discussion Threads

[mistertibbs] 24/6/2007 17:00

Bluenose--with supporters like Jeff Lynne and Roy Wood, I'm with you. These are 2 of my all time favourites and must say, I didn't know about any takeover. Either I will look into it or you could be good enough to let me know. Not a bad looking chairperson if she's still there.....and I'm not talking about Mr Fry, if that's his name.

Incidentally, due to my caution on aim stocks with a question mark against them, I sold a minimal 4500 shares on friday. Still retain a larger holding.
I am listening YF but it wasn't based on what you said, although I do retain your thoughts. I don't trade on BB comments, positive or otherwise. I simply do not like the way aim rules are not protecting investors and take a very dim view of them now.

[bluenose851] 22/6/2007 08:19

mr tibbs.

I am afraid the bluenose is from being a birmingham city supporter not glasgow, though if all goes well with the takeover, I will be able to shout about being a blues fan for the first time in my life!!!

[yf23_1] 21/6/2007 17:43

mistertibbs
I take it you did know that the spanish central bank has been selling its gold reserves as it has very little foreign currency left.
I cant also see the internal spanish prop market holding up (as opposed to foreigner driven holiday homes) as the central bank has no control over euro rates and the difference between German and Spanish economies at different growth rates sharing the same currency policy will exacerbate the difficulties in a flagging economy.

[mistertibbs] 21/6/2007 14:34

I most certainly agree with you on the property comment, as my property shares are currently being hammered today, except would you believe, mea. Also nice to have bluenose on the ground comment sniffing out the market for us with some added support from thailand. Thailand in Spain? New area to me over their.

My nephew, emptypiggy, is also a Glasgow Rangers bluenose.

[yf23_1] 21/6/2007 12:51

mistertibbs
yes youre right, I neatly avoided the question.

I suppose I am just investigating/moree info on the state of the spanish prop market as I popped overfrom the housing thread.
MEA might be insulated a bit with their Italian ops but at some stage all prop markets will move in the same direction, rising bond yields etc.

[thailand] 21/6/2007 10:38

might see u next week in moraira,nice town,what day is the market on? i've forgotten.

[thailand] 21/6/2007 10:17

yes,not too excited about flogging a bit of furniture but i like the sound of the 70 units per month in Calabria,this indicates a further acceleration and puts a number to their unit sales there.Previously they said that they were just exceeding their targets,now we know how many they've been selling.My friends in the Calpe,Spain area where Medsea have an office tell me the property market there is dire so the Italian operation is vital to offset this.I am going to Calpe on Tuesday so i may call in to the Medsea office for a chat.See how things there really are.Medsea say things are holding up there pretty well with only marginal decline in unit sales.My friends say they are surrounded by properties for sale which are not shifting.

[jwe] 21/6/2007 08:50

Decent announcement.

[mistertibbs] 21/6/2007 07:55

If it looks fishy, then look out your rod. You could be correct and you'll look extremely clever. Then again.....

I noticed you didn't actually answer my question but I fully take your points that are well constructed and thought out.

Nice announcement I suggest this morning. Sorry for my delay in replying to you RF23. I've been fishing myself, or should that be mining. As Nazareth once sang...I'm in a salt mine looking for gold....rather apt for the stockmarket I feel.

[yf23_1] 18/6/2007 23:02

Yes, but werent the shares placed to two (new?) directors, thereby diluting all other shareholders.


Rather than dilute you could get just get a simple loan.
Also, if MEA return on capital is so good, it would also pay to get a loan rather than dilute.
Maybe they needed the 2 new directors on-board and that was a way of enticing them ?
If such a small amount is required for growth purposes one would assume that its just to buy land options etc, and so further money would be required, so why not just raise it all now ?

Hang on, I missed this..
"The estate agency said it will use the net proceeds to finance working
capital..."

so there you go, they do have a cash flow problem !

Bit different to the AGM statement of

"To help accelerate Medsea's growth, we recently announced a share placing to
raise #700,000 and we are reviewing a number of opportunities that will enhance
our growth prospects and broaden our base".

A bit fishy if you ask me.

[mistertibbs] 18/6/2007 19:20

YF23....I have no doubt your interested in this share, your reasons however are unclear. Please state how many placing you know of on any number of aim stocks you wish to quote, or any market stock for that matter, that were placed at a premium. I don't know of a single one so I await with interest your reply.

[giddygoat] 18/6/2007 00:47

YF, Im sure you're aware its all relative. This co. is valued at a mere £10m so £700,000 is of some use. If BP. raised £8,000,000,000 (a similar percentage to market cap.)would you assume it had a cashflow problem too?

MEA had much more cash on the books at last yr end than the one before, why not wait to see what size of deal the directors come up with.

What is your interest in MEA? Are you a holder YF?

[yf23_1] 15/6/2007 00:29

"To help accelerate Medsea's growth, we recently announced a share placing to
raise £700,000"

700,000 aint gonna get you very far !

700,000 to accelerate growth ????

Looks to me like they have a cashflow problem.

Why else would you issue more shares at only 10p if the company is doing so well ?

[thailand] 14/6/2007 19:33

yep,i think the bottom has been reached here and the market should start to as it has begun to do today put a more realistic valuation on this company.20p here we come.

[giddygoat] 14/6/2007 19:13

2 points worth noting IMO

1) Board looking to "broaden our base". This is in line with statement on 26/10/06 when Gatehouse talked of "early stage acquisition
talks with a number of targets.Potentially this will open up Cyprus, Turkey,
Dubai, Bulgaria, Portugal and South America, which will make Medsea much less
reliant on its current activities which focus on Spain and Italy."

2)Spain not all negative - SIMA '07 exhibition appears to have yielded very promising results

[giddygoat] 14/6/2007 18:54

Further good news today guys.
At today's annual general meeting, Mr Tony Gatehouse, Chairman, will make the
following statement:-
"2006 was highly successful for Medsea with profits reaching a record £2.9
million pre-tax. In the annual report, posted at the end of March, I told
shareholders that the current year had started well and we expected to achieve
further growth. I am delighted to tell you today that our view remains unchanged.

"Sales in the five months to the end of May 2007 increased by 40% compared with
the same period last year. This is attributable to the excellent performance of
our Italian business where unit sales continue to beat targets substantially.

In Spain, unit sales since the end of the first quarter have slowed compared to
last year and against budget, but the Spanish economy remains strong and
domestic buying is very buoyant. At the recent SIMA '07 exhibition in Madrid,
Medsea achieved sales reservations in excess of £4 million from domestic buyers, coupled with nearly one hundred applications for site inspections.

"The Board therefore remains confident that the Group's performance in the first half of the year to 30 June will be in line with market expectations and that we will continue to make progress in the second half of the year.

"To help accelerate Medsea's growth, we recently announced a share placing to
raise £700,000 and we are reviewing a number of opportunities that will enhance
our growth prospects and broaden our base."

[flateric] 07/6/2007 16:36

Your shouting at the wrong person, I didn't mention the p/e.

I will say that I think the reason its on the floor as they have no promotion, PR etc. Then there's the massive overhang by all those that have bought thru' the brokers dumping.

[yf23_1] 07/6/2007 14:48

FlatEric
There is a reason its only on a PE of 5 and the reason that noone picks the shiny gold nugget up is that its stuck to the floor and there is a big anvil with an iffy rope dangling over it.

[flateric] 07/6/2007 09:18

They had a shed load of land, too.