Mountview Estates Share Discussion Threads

[jonwig] 10/2/2020 12:52

A re-run of the 2019 AGM where independent shareholders blocked some appointments. "The wrong is righted", as the company might have said. Also: Following the 2019 AGM in August and prior to the general meeting held on 18 November 2019, the Company identified as far as possible those shareholders who did not support the various resolutions and attempted to engage with them to seek their views. They declined to meet or engage. A plotline idea for Midsomer Murders? Not quite, I hope.

[jonwig] 05/2/2020 07:16

Grainger's trading statement today includes: "Sales income from our regulated tenancy portfolio remains robust and we are seeing early indications of positive market tailwinds, ..."

[greatgiginthesky] 22/1/2020 09:15

Average monthly number of trades is normally around the 30 mark, yet November was 93 and December was 73, during which time the share price has come up from around £100. I expect the BoD will be looking at the share register closely.

[greatgiginthesky] 06/12/2019 19:00

IMHO there is zero chance of a takeover. See my post 387. If anyone would like to disagree I welcome their view. From a trading point of view, it is a buy when the property market is in the doldrums and, oh well, it is never ever a sell.

[tiswas] 22/11/2019 10:49

Hi Jon Looks like they have the size and institutional shareholder base to swallow up MTVW if they wanted to although I am not clever enough to know what extent it would be debt financed or what new equity would be needed. Presumably they would have plenty of room to gear up MTVW a lot more?

[jonwig] 22/11/2019 09:52

LOL, tiswas! Well, 10 years ago they were £40, so maybe they are. Seriously, though, there seem to be two family camps who are not on very good terms. This could mean a resolution is forthcoming with a possible bid which would need to be nearer the live asset value. I remember attending the AGMs a few years ago, and there was certainly speculation about a bid from Grainger.

[tiswas] 22/11/2019 09:30

Are these worth holding bearing in mind I will only be around for another 30-40 years or so?

[greatgiginthesky] 22/11/2019 09:00

H1 results = reassuringly boring.

[jonwig] 21/11/2019 08:29

H1 results: https://www.investegate.co.uk/mountview-estates---mtvw-/rns/half-year-report/201911210700041173U/ Margins and profits improved. Mr Sinclair, as usual, has no time for words.

[jonwig] 19/11/2019 08:18

... Anthony Powell, a Non-Executive Director of the Company, who assumed the role of Acting Chairman following Tony Solway's departure from the Board on 31 March 2019, has been appointed as Non-Executive Chairman with immediate effect. But a third of shareholders didn't even want him on the board. Meanwhile the share price does its stuff.

[jonwig] 18/11/2019 20:30

A strong share price but boardroom bother: Powell and Jarvis reapppointed to the BoD but only by 69:31. Powell, an accountant, was appointed in March 2018; Jarvis, a surveyor in July 2014. Her reappointment was unwelcome on more than one occasion. Interim results are due on Thursday.

[bench2] 15/11/2019 15:15

Good rally , and closing in on £12 resistance level . Great performance vs Daejan

[jonwig] 05/11/2019 15:30

Yes, and trades haven't been large or numerous lately. Not complaining though.

[greatgiginthesky] 05/11/2019 15:18

Buy price £111 and sell price £110 today. An unusually narrow spread.

[konradpuss] 28/7/2019 19:36

Greatsky, if Duncan croaked then things might change. Until then I think status quo. As to more interest in this share, try and buy in quantity.

[greatgiginthesky] 28/7/2019 16:39

I have never seen the concert party interested in the share price They get all they want from dividends which have risen quite a bit over the last 5 years (goose, golden egg etc.). As for a takeover, why? It would only realise a gigantic CGT bill, or not if they accepted paper, but why would they relinquish control? This share is ideal for a SIPP and I don’t know why there is not more interest from income investment trusts and income funds. I have added at levels above £100 (average well below), but am I bovvered? No.

[konradpuss] 27/7/2019 15:29

Jon Wig, I do not think the concert party will be breaking up any time soon. Quite a few in the concert party just think this is the 'goose that keeps on laying golden eggs'. Both AGM's I have attended had the other side of the family attacking the board of directors over pay etc. and wanting a seat on the board. I think this will rumble on for years. Note the William Peers group upped their stake recently. You obviously bought your shares a while back. Just relax and enjoy the family punch up while collecting your dividends.

[jonwig] 27/7/2019 13:48

konrad - I attended AGMs in '15 and '16, not easy as I live "oop north". Neither event was altogether comfortable for the BoD, and I guess at some point there could be a majority for reorganisation and value crystallisation. In 2015, there were rumours of interest from Grainger. No longer, I guess. Having held for years, my "yield on cost" is around 11% and I don't expect to lose even on the worst scenarios. (I know YOC is not much used, but it gives a pleasant feeling!)

[konradpuss] 27/7/2019 11:30

Jon Wig, I was at the two last AGM's. There were calls for a new valuation at both by 'ordinary' shareholders. In fact the famous retired property analyst, Chris Turner asked in strong terms for one. He said to the directors as a serious public company they really should do such. I might ask this year why they don't get the directors to do it as an interim - they probably have a better idea than the valuers. As to costing millions that is not true. I bet they could negotiate a fee with the likes of Allsop of say £500k and a review every year for a smaller amount.

[jonwig] 27/7/2019 10:48

konrad - their trading properties are valued at the lower of cost and curent market value - ie. at cost, in practice. When they valued their properties about three years ago, it cost 'millions' and they said it wouldn't be a regular event. There might be all sorts of pressure from part of the concert party, of course.

[konradpuss] 27/7/2019 10:04

The only activity I foresee is a revaluation. However, you never know.

[jonwig] 27/7/2019 07:51

Yes, bit surprising. AGM is on 7th, may be some "activity" coming up there.

[konradpuss] 19/7/2019 18:56

Agreed, rent controls could possibly have an impact on the sale values of any units that become vacant.