Oakdene Homes Share Discussion Threads

[spaceparallax] 05/6/2007 11:50

Agreed, solid statement - site sounds not dissimilar to Newhaven, which should bode well, given the positive reception of the Newhaven offering so far.

This share in the past has demonstrated the ability to undergo rapid correction, not always with overt reasons for the timing of such.

[slapdash] 05/6/2007 11:17

Quite a good AGM statement in my view. At last they have acutally bought a site!!!! Should provide great visibility going forward... Slapper

Oakdene Homes PLC
05 June 2007




Oakdene Homes plc
('Oakdene' or the 'Group')

Annual General Meeting


At the Company's Annual General Meeting held today, the Chairman, Philip
Stephens, made the following comments:


'2006 was a year of major development for Oakdene. Staff numbers virtually
doubled, we completed the total re-branding of the business which has had a
tremendously positive response, we commenced operations on at our flagship
Newhaven and Swaylands sites and we are now operative on a further 10 sites.


Since the year end, we announced a placing of 7,500,000 shares at 200p per share
which raised £14.4m net of expenses. The proceeds of the placing will primarily
be used to help finance the purchase of additional strategic sites in the South
of England.


I am pleased to announce that we have exchanged contracts on the first such
site, the old Meridian TV studio in Southampton. The site comprises in excess of
six acres adjoining the waterfront, which we anticipate will have a gross
development value of around £100m over a four year period. A full planning
application for the development will be submitted shortly.


Trading to date for 2007 is in line with the Board's expectations although, as
in previous years, the Group's earnings will be more weighted towards the second
half of the year. I look forward to reporting on further progress alongside the
Group's interim results in September. The new site at Southampton, together with
other sites of a similar size which are under negotiation, promise an exciting
future for the Company.'

[slapdash] 05/6/2007 11:01

my money is on these guys not bothering to do an AGM statement even telling us how the vote went....

Slapper

[slapdash] 04/6/2007 23:00

Oakdene has raised its profile considerably in 2006 and the prospects for the
company remain exceptional. The first quarter of 2007 is in line with
management's projections - final results

At times like these of share price weakness best to focus on what was actually said. Also note despite scaremongering houseprices in London and SouthEast are still going up. They may be falling slightly in the North but Oakdene isn't there.

Slapper

[slapdash] 04/6/2007 10:45

space - this company has underperformed the housebuilders since coming to market.... and despite having much more debt in a rising market (i.e. more risk but less return)...

has missed some targets to date and been fairly poor on updating investors... and has lots of strange announcements..

if that isn't a reason to give Turnip a piece of our mind what is??

Slapper

[spaceparallax] 04/6/2007 09:50

Slap,

I won't be there and anyway, I don't have a lot of mind to give away.

[slapdash] 03/6/2007 21:26

Anyone going to AGM???? One chance per year to give Turnip a piece of your mind...

6. The Annual General Meeting of the Company will be held at RAC Club, Pall Mall
on 5 June 2007.

Is Tuesday at the Pall Mall club London....

[spaceparallax] 01/6/2007 16:06

Just managed a little top-up around the 200p mark - I seem to one of very few declared Buyers today. It'll be interesting to see whether the 200p support holds - if so, it should provide a very solid platform upon which to build.

[spaceparallax] 01/6/2007 14:10

RM,

You could be right. Do BoE meet next week?

I'd be surprised if we see much more rise - IMHO, it'll be months before they can truly measure the effects of those recently.

[rmilner] 01/6/2007 13:03

space - fear of rate rise to 6% ?

[spaceparallax] 01/6/2007 11:51

We seem to have quite a few PI selling over the last few days - don't really understand why, but it does seem to be eroding the share price

[slapdash] 30/5/2007 13:44

Brighton and Hove places where house prices are still accelerating (as well as London)... Newhaven is 20 mintues from Brighton...

Slapper

[slapdash] 30/5/2007 12:22

THERE ARE BASICALLY TWO SCENARIOS ON OAKDENE HOMES:

1)We have been wrong to date on timing but it will come right

2) Or we are wrong on the company/sector and it is due for a tough time

Supporting scenario one is the fact that the recent placing will have laped up demand for the stock. It alos means that a ridiculously low P/E only kicks in next year and not this year. And the catalyst for the re-rating would be massively higher profits and progress at Newhaven as well as land acquisition.

Scenario two would be that this is a lower quality stock than the other housebuilders. It does appear to have some strange announcements but generally the deals done seem to be really good i.e. Newhaven. Of course we are going to get another rate rise or two but demand is greater than supply and I think we are insulated from the effects due to city bonuses in this area.

Will further consider the two scenarios when I have a moment. but hopefully we have only been wrong on timing to date.

Slapper

[spaceparallax] 30/5/2007 12:18

You're welcome.

[ffedup] 30/5/2007 11:32

You have both given me reassurance.

[spaceparallax] 30/5/2007 11:04

I also remember SM leaving and returning - as Slap says, perhaps health reasons.

[slapdash] 29/5/2007 20:19

Massingham probably has health problems... resigned then came back abruptly before... (just a guess)

Turpin (CEO) buying shares bodes well... as does Wray increasing stake... and buy the way Turpin hasn't bought an insubstantial amount of shares at £100k...

Rest is just fluff... buy and hold... and you will do well..

Slapper

[ffedup] 29/5/2007 19:41

Susan Massingham resigned for 'personal' reasons. I never like directors resigning. It would be nice to know the real reason. Options exercised so a small dilution for us.

[spaceparallax] 29/5/2007 18:15

I see that one of the £100K trades @ 200p 25/5/07 was Carl Turnip BUying 50K - how did he manage that? Surely the rest of us would have to pay much more than mid to buy such a lump? That sort of thing peeves me.

[slapdash] 25/5/2007 13:40

fundraising trades???? No idea .... slapper

[a0148009] 25/5/2007 13:38

Some lumpy trades at 200p, not another director selling for his divorce settlement is it?
Coincidentally same price as the the recent placing.

[slapdash] 19/5/2007 16:09

I probably shouldn't post it due to copyright and all that but Oakdene's results and placing are written up in Growth Company Investor ....is in the online version...

writer just says company could well outperform sector peers...

Slapper

[slapdash] 18/5/2007 16:32

hmmm.. well a single protected transaction of 75,000 at close which was almost certainly a sell and lapped up demand for the day... that often happens on tips by people like Investors Chronicle as provides institutions with liquidity to get rid of some of their stake..... if we can break through the seller and this resistance it would be great.... I would say holding above 215p i.e. a range of 215p-220p is crucial for breaking higher...

here's to hoping for next week...

slapper

[spaceparallax] 18/5/2007 16:02

Slap,

Thanks for your thoughts. share price looking very solid, some might say stolid considering the decent volumes since results. I'm pretty sure that we've had this pattern here before, preceding a very significant rise - if I'm right, we could see a surge towards 300p.

If I recall correctly, OKD have been largely unaffected by holiday selling.