Oakdene Homes Share Discussion Threads

[williebiz] 30/9/2008 16:28

Horrible horrible horrible.

Horrible in every area.

Breaching banking covenants is very bad indeed.

Banks could call this in any day.

[slapdash] 30/9/2008 16:23

previous year's results "restated".... no dividend (not a surprise)....

all looks very bad.... Slap

[hybrasil] 30/9/2008 16:18

I suspect without that extra £.5m they could well be donald ducked

[spaceparallax] 30/9/2008 14:11

It wouldn't be the first time that results have been delayed by OKD.

[the troll] 30/9/2008 12:05

won't these be suspended if the interims don't appear today ? worrying.

[williebiz] 30/9/2008 10:06

Certainly looks doomed but they might be able to weather the storm with somebody taking a strategic stake and injecting capital - looks a good company underneath and well-run according to reports here and @ TMF. Just overstretched in the wrong sector at the wrong time.

Otherwise either facing potential insolvency or takeover.

[slapdash] 30/9/2008 09:38

the bottom line as I have seen it is no cash coming in but huge amounts of cash going out...

next this is I think the most highly geared house builder selling to highly geared borrowers... when that party ends OKD is toast...

as they are fast running out of cash surely it is simply a matter of time only???

Slap

[spaceparallax] 29/9/2008 09:50

Slap,

As with most builders it ain't looking good. I had wondered whether Mt Turnip has been sufficiently careful with his own pennies to buy the Company back if it reaches single figures.

[slapdash] 27/9/2008 21:20

how long before this baby goes bust???? I give it less than 6 months.... RAB who put up some of the money for their placing are having big problems.... all will unravel...

Second bust for the moron CEO.... some people never learn..

Slap

[the troll] 18/9/2008 18:44

you fill your boots @ 10 p ps !! LOL

[hybrasil] 18/9/2008 11:59

Down 10% on the sale of 17500 sharwes. What happens when Rabs shares are sold?

[hybrasil] 17/9/2008 08:24

Surely the RAB holding is going to mean a fire sale of their oakdene shares. Whta is 7% of the company worth 5p?

[spaceparallax] 16/9/2008 14:56

Grim movement today.

[barn owl] 23/7/2008 13:54

Time for a small long-term punt me thinks!
Good luck all.

[haroldthegreat] 09/7/2008 13:17

turpin only purchsed £7000 worth of shares, a token , if he really thought the were undervalued he would have purchased much more!looks more impressive when you look at the number of shares though

[spaceparallax] 03/7/2008 12:45

Frankly, I'm amazed at how well the OKD share price is holding up when considering the absolute slaughter of TW. and BDev.

[williebiz] 11/6/2008 23:08

Mug's game to think OKD will recover anytime soon, the placing confirms internal thinking is desperate (family firm with limited capabilities) and they've basically been building stuff nobody wants, at the wrong price, with false hopes/valuations about the land bank/development possibilities.

SP says it all.

The rot ain't stopped here.

[diku] 11/6/2008 23:01

Talk of discounting flats...the fear is what is cheaper now could get even cheaper...this will deter buyers away...mortgage criteria is another bigger issue now that is negatively feeding into the house builders...

[the huntsman] 11/6/2008 15:02

I suggest whenever mary appears - it's a good time to buy in!

The Huntsman.

p.s. If market over-reaction towards Oakdene is an under-statement, then I don't know what is.

Demand for property in the south is massive - & property is always the safest form of investment - 'over the years'. I'm very tempted at these ridiculous prices & just playing waiting game for now!

[marycurer] 10/6/2008 14:40

I see no reason for these to be trading above 25p and thats being generous.
Hence i have added to my short position.

[davidosh] 10/6/2008 14:32

I agree mdr128....It would be better to discount sales of the completed flats and houses by 15% to bulk buyers or even shareholders and bring in £15m very quickly that way. Who knows a 15% discount may still have been a good price in a years time

Empty flats cost money and probably as much as 10% holding cost per year on a currently reducing asset

[slapdash] 10/6/2008 13:55

mdr28 - sure but who is buying development sites??? But bascially the CEO is a meglomaniac so it is all no retreat and full steam ahead off a cliff!!

Slap

[mdr128] 10/6/2008 11:23

Hi folks, I'm new on here and have only had a quick look through the accounts. But can anyone explain why they seem to be so keen on such a massive dilution when they appear to have plenty of land/property assets. I'd have thought even a bit of a fire sale on some of the assets would have been more sensible than a placing at these levels. Apologies if I've missed something obvious.

[spaceparallax] 10/6/2008 10:04

Davi,

Slap is one of our more cynical from the heart posters. We've interacted a lot over time and whilst I don't agree with all that he says, he generally does offer useful thought-provoking contributions.

The entry of NW is certainly interesting - could be quite a clash of egos.