Had a quick look into serial disappointer NAH and it has been unusually well bid.
Is something about to happen here?
Just a normal market move as per the chart or some form of corporate activity (FEN won't come back) on its way?
"Since the Group announced that it intended to investigate a possible sale of its Residential Property business in May 2021, the Board has been encouraged by the level of interest received. A further update will be made when appropriate."
Warning:
- Highly illiquid share.
- Watch with popcorn from the sidelines.
All imo
DYOR |
Harwood are listed as a significant shareholder at 13.3% here...
The Frenkel shares would take them to about the right level on that basis (6.1%). |
Harwood Capital LLP invests 19.4 pc from no holding- what'sall this about? |
Come on, get up there you slag! |
Yeah that’s a good point, bringing work in house will mean more of the profits are retained but total profits should decrease. It will be interesting to see if they maintain the partnerships so that they can still palm work off at times when NAL is operating at full capacity. They could also make up some of the lost total operating profit if critical care continues on it’s pre pandemic growth trajectory. |
Thanks for the response. I guess that's the hope - with my positive hat on I'd say exceptional items should be less than this as they are, well, exceptional; cost-savings may increase this slightly; and at least the share count hasn't been diluted.
To balance this the future business may not look very much like the past so not sure if makes sense to use that £12m starting point and residential (trying) to be sold.
I am happy to hold for a couple more years. |
I emailed them yesterday on this very point. The reply effectively said yes although it will take 2/3 years to filter through to results as that is how long it willl take for cases put through NAL to come to fruition. If they are able to execute this plan successfully I could see a scenario in a couple of years time in which they return to 2019 operating profits of around 12m and the profit attributable to non-controlling interests is cut in half from yesterday’s 4.1m to around 2m as NAL cases conclude. Deduct another 1.5m for exceptional items and NAHL would be producing around 8.5m of cash flow. I am a holder though so that could be a somewhat rose tinted view. |
Results seem reasonably resilient, though not sure if it can get back to previous profits. Cost savings may help 2021 figures and hopefully lose some of the extraordinary items.
A lot of underlying profits go out the door to non-controlling interests, does anyone know if this will decrease over the next year due to more cases being put to NAL, rather than panel firms? Do they have significant JV's with law firms left?
BL |
A while ago they told me they were issuing results on 25th May. |
will nahl publish an agm statement on tuesday |
Let's just say that I am pleased that I sold out in Dec |
Yes, according to their last RNSI expect an update probably after trading hours today |
deadline is tomorrow 13 january? |
not bad - positive update. |
So should have final confirmation this week.As Frenkal has such a large holding I doubt they will walk away.But who knows?! |
bought a few more todayeven if merger does not go through its still on a very low metric... |
Volume picking up! |
Lol read the rns released today dimwitAnother month to waitI reckon it 90% a done deal and am buying moreAimho |
thought today is thed dealine to offer or stumm? |
very much agree.might take a tiny punt though |
unfortunately from experience when things get delayed it often means no deal done! |
last few days for bid to be agreed... |
I now know what is happening. Trades declarable by the underlying purchaser or seller are declared on form 8.3. Some market makers need to declare trades as well and that appears to be on form 8.5. |
Aleman,
They are! |
I thought they were market maker declarations for some reason. |
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