Melrose Industries Share Discussion Threads

[mayers] 18/10/2018 21:40

Hi Brexit+

Interested in your visit to Umbria which I love. Did you fly/train? We originally went by car from the UK and then fly/car hire but would be interested to know where you stayed for train access. I can't rightly recall whether the wonderful Orvieto is in Umbria or S Tuscany, I think the latter. West of there is the wonderful area of Mt Amiata, most unusual in my not too widely travelled experience, and the small town of Radicofani captured in time. From many years I recall a blind man there and somehow I had the feeling of his awareness of the plain below and how wonderfully the town was placed clinging to the hillside. Such a wonderful area. So glad you enjoyed it.

[minerve] 18/10/2018 21:35

See what I mean? LOL

[gettingrichslow] 18/10/2018 21:26

If your definition of 'stalking' is agreeing with numerous others on the Burford board that you are 'like an unwelcome fart in a lift but harder to get rid of' then I'm a stalker!

[meanwhile] 18/10/2018 20:46

Minerve, he’s an imbecile.

[minerve] 18/10/2018 20:31

MEANWHILE

Getting is stalking again. :)

[brexitplus] 18/10/2018 18:37

JP Morgan Cazenove reiterates overweight with target price 285p

[brexitplus] 18/10/2018 17:42

Nortek moving customer service to the fore.

“Nortek launches new HVAC customer service initiative
OCTOBER 16, 2018

Nortek Global HVAC UK has outlines its new customer service initiative in this sponsored post.

Nortek carried out an extensive research study in 2017, across its entire customer base and the HVAC marketplace as a whole across the UK and continental Europe. Respondents recommended that the company consolidate all of its HVAC brands in the UK into Reznor and highlighted a number of opportunities to enhance the customer experience and satisfaction.

The company claims Nortek’s customers will now benefit from an unrivalled customer experience, which they can depend upon and trust. They will receive a more personal approach, improved response times and increased stock availability.

Kevin Hartshorne, European Sales and Marketing Director for Nortek said “Quick response times to enquiries and fast deliveries for our increased stock range are just some of the new commitments we are going to deliver with a personal touch.”

Nortek is making four bold promises to its customers, which include:

We will respond within 24 hours to all orders of non-stockable items, giving you the name of the person dealing with your enquiry.

The person you speak to will call you back within 24 hours.

We will deliver to customers within three days of receipt of order for all stockable items.

We will support our products throughout their lifetime.

Customers will be able to contact Nortek through numerous channels including the customer service desk, email, online and the new website www.reznor.eu

Information on products will be available to customers 24 hours a day.

[jackdaw4243] 18/10/2018 17:16

Ripped of again added a few. GKN aerospace also supply bits for F35 along with BAE . GKN may have been sold short but aerospace seems to be on an up apart from RR with its engine problems.

[gettingrichslow] 17/10/2018 23:17

In your last post you also didn't factor in the 13th share (the existing holding) - another error that also skews the numbers and exaggerates the gain! Sorry but it does make quite a difference!

[gettingrichslow] 17/10/2018 23:12

Sorry MW but you are not getting a key point here. The nil paid point is absolutely of consequence because had the investor you refer to NOT chosen to exercise his rights then he would have received 30p or so for each right not exercised, which makes a big difference to your sums if you would only pause for a moment to think about what I'm saying. This payment that was made in the sale of the 'rump', is the equivalent to the 'discount' that is often referred to. Yes, the share price rose thereafter, we all know that, but that is not what your original calcs purported to show.

[meanwhile] 17/10/2018 22:48

getting,
I'm pleased to see that you're accepting defeat. You were bogged down with transient figures, of nil paid rights etc.
If an investor took up the Nortek rights issue, he paid, for each old share held, £11.40 for the 12 new shares. Nil paid figures to this investor were of no consequence. These shares peaked at 260p in April 17, were 230 in April 18 and 165 now. If you sold in April 2018 you got 230p.

You've confirmed to me tonight that you're everything Minerve and myself have thought of you, possibly more.
I'm wasting no more time on you.

[gettingrichslow] 17/10/2018 22:34

If you want any more help then send me a spreadsheet with all your info on and I'll get someone to assess it in the office tomorrow. This is taking up a lot of my time now. You must have been a nightmare to work with. Or get an IFA if there are any up there in Mount Snowdon or wherever you are.

[gettingrichslow] 17/10/2018 22:28

CGT?? Given that you've said many times that you only hold MRO (apart from a bit of B&M) I'm amazed you weren't holding them in an ISA or a SIPP?

[meanwhile] 17/10/2018 22:24

getting,

There is no theory here. I have given you actual cash paid for shares and actual cash received when sold. You can talk about Nil Paid, why they rose, when they rose, the fact is they did between July 16 and April 18.
If you bought in July 16 and sold in April 18, all the figures between those dates are not relevant.

[meanwhile] 17/10/2018 22:17

getting,

The findings of your theoretical model have given me real problems. I'll need to get on to my accountant tomorrow and ask why his sums are wrong and why we paid all that Capital Gains Tax. And then I'll ask the Inland Revenue why they agreed with the figures.
Also I'll need to find out where all the money we spent on the shop, the truck, the holiday home, clearing all debts and the mortgage settlement actually came from. In June 2016 we didn't have it, by December 2016 we had it. Where did it come from in that period? Did I win the lottery but forget about it?

Does your theoretical model have the answer?

[gettingrichslow] 17/10/2018 22:12

Your numbers are very deceiving because you've taken a July 15 starting position. But as I'm sure you're aware but are not letting on, the closing price before the deal happened in late July 16 (a whole year later) was 409.75p. Which is what I keep saying - the rise was not because someone offered you shares at 95p (they didn't do that at all because of the nil paid point you keep ignoring) - the lion's share of the rise happened before the event. Do you see what I mean?

[meanwhile] 17/10/2018 21:59

None of that is relevant.
What I’ve described to you is actual transactions (not theoretical), money out and money in. Actual money, cash. Not paper money. Money in the bank.
There’s no deceit when you start with 255 + 12x95 = 1395 and get back 13x230 = 2990. Not theoretical, actual money.
How do you suppose MRO have made an investment of £1 in 2003 into £10 now.

[gettingrichslow] 17/10/2018 21:31

You've made the same mistake again!!
You've not taken into account the nil paid price, so you're comparing a theoretical price against an incomplete starting position (your 'base case'). The issue discount to the Theoretical Ex-Rights Price was about 20% by the way, which I think is what has deceived you...clearly anyone invested in MRO did well during the period of that transaction, but it's not quite how you describe it.
This is all in your Ladybird Stock Market book by the way, quite near the start!

[meanwhile] 17/10/2018 20:40

getting,
Let me have one last try to explain this simple process to you., in case Hobgoblin hasn't succeeded.

In July 2015 an investor buys a MRO share at 255p. The share price rises but he hangs on. In August 2016 there is a rights issue to buy Nortek, 12 for 1 at 95p.
The investor takes up the rights in full and buys the 12 new shares at 95p. He now has 1 share he bought for 255p and 12 he has just bought for 95p.
By April 2018 the share price was 230p. At that time he was making a loss of 25p on one share and a profit of 135p on each of the other 12. When he sold some of these shares for 230p in April he seems to have made money, in fact an average of 122.6p on each of his 13 shares

Now please tell me how you work out that he didn't make money.

[meanwhile] 17/10/2018 20:13

Good Evening Minerve,

The Post 6254 from getting confirms everything you've ever said about him. He has no understanding at all.
Mr Hobgoblin, in 6260, has tried to clarify the case for him but I doubt it will have any effect.

[essentialinvestor] 17/10/2018 20:11

That's dividend reinvestment.

[meanwhile] 17/10/2018 19:50

Continuation of the rout today and another non-executive Director spends his week's pocket money on adding to his shareholding.

Just as it's probably better to admit that you've forgotten your wife's birthday than running down to B&M Bargains last thing the night before, it might be better for the Directors to do nothing than make futile gestures.

[brexitplus] 17/10/2018 16:52

Director shares

“The Company announces that it was informed that Justin Dowley, non-executive Director, bought 9,531 Ordinary Shares of 48/7 pence each in the Company, in accordance with the terms of the Melrose Dividend Reinvestment Plan. These shares were purchased on 17 October 2018 at a price of 173.56 pence per share. Following this transaction, Mr Dowley now holds an interest of 1,087,509 Ordinary Shares in the Company, representing approximately 0.022% of the issued share capital of the Company.”