Norman Hay Share Discussion Threads

[wilmdav] 01/9/2010 17:15

I didn't receive any papers in relation to the vote, of else I buried them in a pile of junk mail. Neverthess I'm happy with the outcome and hold on a purchase at 65p.

[moneybags] 01/9/2010 16:52

I too voted for the de-listing.
One good thing........Shares held in an unlisted company do not go towards your death duties if you get run over by a bus.
We don't 'do' death duties over here but in mainland UK it will be an advantage.
I am in for the long term, No other investment is paying me this rate of divi return right now.
Well run wee company.....

Regards , Moneybags

[ed 123] 01/9/2010 15:07

Hi all,

The initial announcement surprised me too. However, after meeting Peter Hay and Victor Bellanti, I voted for the delisting. The business will be better off without its listing, and so from that perspective the change will be good. Separately, though, one needs to take one's own investment perspective. For me the choice was to take a 'too low' price from a market maker for quick cash and move on, or retain the shares in the hope of a good future return.

Norman Hay has cleared its borrowings, has good cashflow, pays a dividend yield of about 6.5% (at 66p), has strong tangible asset backing (there is an unquantified surplus on their properties), and should benefit further from a global economic recovery. For the patient, Normet could buy the remainder of Tam International (not before 31 May 2014), paying a substantial sum to Norman Hay (possibly more than Norman Hay's current market cap.) So, there are reasons to hold, but of course there are no guarantees.

The company intends to provide a matched bargain share dealing facility. It will be possible to buy and sell. I won't be sad to see the end of the market makers taking a 10%, or so, spread.

Anyone got an idea on the market value of Norman Hay's properties?

[bench2] 11/8/2010 22:11

Very strange decision to save £90,000 pa plus cost of RNS notices . Most delistings from AIM are from companies in financial difficulties. HNN in good shape and paying divs despite cyclical EPS . Lots of stock options o/s some dependant on stk price reaching 150p ! Also makes probate valuation difficult or is this a plus point for the family so they can move shares around at much lower valuations? I hope this does not catch on .

[ntv] 09/8/2010 08:37

running off with the crown jewels i see
always had poor pr here but company stuffed with assets

[westcountryboy] 07/8/2010 07:57

Interesting thoughts. I toyed with keeping mine but when I discovered I could actually sell them (for more than I had paid for them) I just couldn't resist! I would have been tempted but for the recent wobble in profits and reduction of the dividend, which reminded me that we are not talking here about a company with a cast-iron position. HNN have had a good case in recent years, their recent acquisition looked a steal, and even after the reduction the divi is good value at this level. But once locked in you would be reduced to the level of the family, regarding the divi as the main point of the investment and hoping to hand it down over generations. I know you could sell, with a bit of effort, but a lot of my trimming/trading of my holdings is based on semi-instinct, on observing the prices each day, and that opportunism won't be available any more. I have traded Hay five times in the last few years. We all talk about the value of long-term dividends but ultimately I feel shares are for buying and selling, or at least the freedom to decide to do so.

[jonwig] 07/8/2010 07:20

Do share your thoughts, David. I'll have a look too.

[jonwig] 06/8/2010 14:03

WCB - yes, I'm not a holder and haven't looked at the accounts of this for a couple of years. But they do make a big issue of their plans, don't they!

[westcountryboy] 06/8/2010 13:23

Share price instantly drops sharply! This is the second company to do this to me in the last few months: the perils of investing in cash-rich companies! The argument about the £9k seems a bit weak.

[jonwig] 06/8/2010 12:54

Delisting proposed - interesting RNS. Share price could drop sharply, but if they mean what they say in the RNS, the shares might soon be a bargain.

Of course there's still the risk that holders will be shafted further down the line.

[ed 123] 13/4/2010 14:43

Hi Moneybags.

We seem to be moving in parallel.

I had been hoping to top up here, but below the recent price. The really good ones don't come back and give buyers a second chance, though. :-/ Well done on your buys. :-) If he knew I'd hesitated, Warren Buffet would be chiding me.

[moneybags] 12/4/2010 16:11

ED 123.........The two buy in this one today are little me , 2,000 & 3,000 buys(through BLW).
Only 24,000 to go....
Trouble is, If I phone my trader and ask to buy 24,000 in one go, he would just laugh at me.
I will just have to pick up during the week or two in small batches.

Regards , Moneybags

[ed 123] 08/4/2010 15:59

Hi. Yep the small caps can be difficult to make money on - wide spreads and small nms. For such a small cap and little freefloat, 5% here is not a bad spread. I've got some CFYN (motor trader) too, 15% spread!!! It would be an ideal buy for Jack Petchey (tangible assets exceed market cap.) but not easy to get any quantity. Back on topic, doing this deal may encourage others who would like to own another of HNN's divisions. No rush for me, though. :-)

[moneybags] 08/4/2010 15:39

ed123.........I used the shares I am holding as insurance for topping up a wee bitty more today.
I wanted a good deal more but they are so hard to come by on the market.Could only top up by 3,000 shares (14.31 trade today was mine)........Hardly worth the bother but it all adds up I suppose.
Might buy some more before 4.30pm.

Regards , Moneybags

[cambium] 08/4/2010 15:37

agreed best of luck to you both

[ed 123] 08/4/2010 15:30

Hi Moneybags, Cambium. I'm holding too. They can certainly spot a good buy and are evidently not so greedy as to walk away from a good offer. Bodes well for the future. Should also be benefiting from the pick up in world growth. Wish I held a few more.

[moneybags] 08/4/2010 15:18

Hi Cambium.......Yes, O.K. Nice to hear from you.
Still Managing to turn a penny or two
I wish we could have a world credit crunch every year, It would make things 'more exciting'
Market seems to be moving sideways for the past month.

Beats working for a living anyway.........

Aye, Moneybags

[cambium] 08/4/2010 15:15

hi moneybags, I'm still around you ok?

[moneybags] 08/4/2010 14:55

up 12% so far today........Nice jump....!

The Norman hay PLC website say's that 26.84% of the shares are not in public hands but on the website it shows that 55.28% of the shares are held by members of the board.Hard shares to track down.

Because so many of these shares are held by the board, They make sure(if they can) that there is a 'goodly' divi payable as well.

Regards , Moneybags



p.s.....I think I am starting to talk to myself here.!

[moneybags] 02/3/2010 16:26

It goes up 3.2% on a single trade of 2,472 shares......!
The shares are hard to come by on this one.

Regards , Moneybags

[moneybags] 18/1/2010 17:13

Should make good reading in the Financial Times, etc in the morning.

£1 a share coming me thinks.

Regards , Moneybags