MTVW

Mountview Estates Plc

11,100.00
0.00 (0.0%)
Share Name Share Symbol Market Type Share ISIN Share Description
Mountview Estates Plc LSE:MTVW London Ordinary Share GB0006081037 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 11,100.00 0.00 08:00:28
Bid Price Offer Price High Price Low Price Open Price
10,800.00 11,400.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Agents & Mgrs 66.01 26.88 689.50 16.47 433.28
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 11,100.00 GBX

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Date Time Title Posts
19/1/202315:51MOUNTVIEW ESTATES:::::::benefits from distressed BtL?571
29/10/200601:23hg5
03/11/200413:22Actual NAV of Ј65-00.. this share is damn cheap52

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Posted at 25/11/2022 17:19 by strathroyal
Yes, excellent results, followed by a significant share turnover (for MTVW of course).
Posted at 24/11/2022 09:45 by jonwig
Interims:

https://www.investegate.co.uk/mountview-estates./mtvw/unaudited-interim-results--6m-to-30-sept-2022/202211240700054756H/

Great stuff, big recovery. Dividend 500p (250 + 250 special). Timing was lucky, 30 Sept just before the knockout blow.

Posted at 16/11/2022 20:36 by essentialinvestor
There's more movement in a funeral parlour than in the share price atm.


Konrad, I like BOOT, but there may be a better price available before
the start of the next cycle (barring corporate action in the interim).

Posted at 16/11/2022 20:22 by konradpuss
twells, I am not sure why the concert party has been disbanded.

Perhaps there is a disagreement in respect of the forward direction of the company. Perhaps some want to sell to Peers and others do not.

My guess in respect of the other side of the family i.e. the Murphys is that they would sell at the right price. Just my humble opinion.

Posted at 16/11/2022 09:13 by twells1
I would be very interested in Jonwig or Konrad's view on the announcement of Mountview on November 14th that the concert party has been disbanded. Does that mean the family is further split? What are the implications of the ending of the concert party?

You will have seen the Investors Chronicle long article on Mountview. It is very suprising considering that Mountview is a small company with very few non family shareholders for there to be such a lengthy article. Who provided the information for the article. I noted in the article the comment on the extraordinary level of remuneration of the CEO for such a modest company and who is also very incentivised by his large shareholding.

I appreciate that a valuation of the assets would be of no benefit to the company who buy and hold assets until the property is empty but it would be of benefit to shareholders of what is a PUBLIC company in allowing investors and shareholders to have some idea of the real value of the assets. We also have no idea of the succession policy of the company which considering the age and shareholding of the CEO is of importance.

It is inevitable that Talisman will eventually buy out both the Sinclair and Murphy families but at what price and when?

Posted at 11/11/2022 20:05 by konradpuss
Essential, I bet Mountview will be making some good purchases right now.

Am I still keen? Yes, although I think the share price will only fully reflect the assets when the two waring sides put down their weapons and sell to the William Peers Group.

When will that be? Well Duncan (CEO) is getting on and I bet he would like to sell on retirement.

Just my humble opinion.

Posted at 11/11/2022 11:32 by essentialinvestor
Konrad, are you still keen on MTVW?, thanks.

You seen the GPE share price lately ? - that was selling for a song a few weeks back.

Posted at 11/11/2022 07:35 by jonwig
How rare is this? An IC article about MTVW, and quite a long one.
But it has little to say about the company as an investment, and there's no recommendation.

It does have a lot to say about corporate governance and the history of the disputes, such as here:

The Sinclair family owns just over half the shares, and this ‘concert party’ is represented by one non-executive director. The other two non-execs were considered to be independent when they were appointed a few years ago. The Murphy family would like to have their own director on the board as well, for they hold another quarter of Mountview’s shares, which are mostly owned by Duncan Sinclair’s sister. But their attempts to have one appointed have so far been frustrated.

The dispute is really about the power resting with Duncan Sinclair and how much scrutiny he comes under. He receives about £1mn a year, and pay has become a rumbling issue. It costs £2mn to employ both him and Bray, compared with £2.5mn for the other 24 employees. That seems high for a £450mn company with an operating profit that’s fallen to less than £35mn a year.

https://app.investorschronicle.co.uk/blog/2022/11/11/an-impasse-at-mountview/pugpig_index.html

Posted at 06/11/2022 20:13 by jonwig
Investment properties total less than 5% of assets. I can't find any which are described as commercial.

The portfolio values will be affected by the implied cost of refurbishment, either by MTVW of a purchaser. The 2022 AR says this (page 25):

We have obtained an Energy Performance Certificate
(E.P.C.), or have valid exemptions for 91.4% of properties
in our portfolio with 6.6% awaiting re-test and 2.0% yet
to review due to access issues. Following these reviews,
we have undertaken, where necessary, loft insulation,
cavity wall insulation, provision for storage heaters and
dual plate power meters.

Not really helpful!

Posted at 05/11/2022 14:55 by jonwig
This might help:

Minimum EPC rating to be raised from E to C. The plan is to enforce this from 1 April 2025 for new tenancies, and from 1 April 2028 for existing tenancies. The government says this would be sufficient to bring more than 90% of D-rated properties up to a C rating, as well as nearly 60% of E-rated properties.

There are some significant exemptions, which might help MTVW. Lots here:

https://www.nrla.org.uk/news/epc-rules-for-rented-property-what-you-need-to-know

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