Share Name Share Symbol Market Type Share ISIN Share Description
Oakdene Homes LSE:OKD London Ordinary Share GB0030739790 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 9.125p 0.00p 0.00p - - - 0 06:37:39
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - - 3.76

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Date Time Title Posts
05/8/201317:29Oakdene homes1,119
09/5/200806:11**** Oakdene Homes ****26
16/8/200610:25housebuilder to short3
05/8/200422:21Interview: OKD's CEO Carl Turpin - Thu 1st July, 11am4

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williebiz: Oakdene Homes' shares dive 37% in a single day 09:44 02 Oct 2008 By John Leitch Oakdene Homes was in the wars yesterday as its share price tumbled by 37%. The collapse was triggered by news that the developer was resorting to the use of a temporary banking facility following the breach of its debt covenants. The share price fall could have been much worse: it came despite assurances from chief executive Carl Turpin that he had agreed in principle a £2.5m cash deal, a move that would be sufficient to tide the group over until the sale of completed homes replenished Oakdene's balance sheet. The Financial Times talked to Turpin and this morning the paper reports him as believing that Oakdene's financial difficulties were a "cash-flow glitch". The FT reports Turpin saying: "We will be in a position to make an announcement about the bank deal in the next seven days. Once we've concluded the talks we will be in a strong position to move forward." Oakdene might be the first housebuilder to publicly admit to breaching its banking covenants but many other privately-owned groups are said to be in the same situation. The situation with the larger Stock Market-quoted housebuilders is that they are making moves to restructure their funding arrangements ahead of anticipated breaches. Yesterday, Oakdene's share slumped from 14p to just 9p. Turpin has ruled out the possibility of selling Oakdene to a rival. He told the FT: "We've had a couple of approaches in the past 12 months, but no-one has the cash available to make purchases now."
williebiz: Oakdene in breach of banking covenants 30 September, 2008 By Tom Bill Housebuilder fails to raise £5m on the stock exchange and reveals interim loss of £6.4m Housebuilder Oakdene has failed to raise £5m through a share placement and dropped more than £6m into the red for the first six months of 2008. It is also in breach of its banking covenants and relying on a temporary facility from its lenders. The group said it had placed 8,987,108 of the 10m shares it had planned to and was seeking legal advice about what to do next. It is thought one or more investors got cold feet given the fact shares were being offered at 50p despite the fact Oakdene's share price fell to 17p today. By way of a sweetener it offered warrants with each share – or options to buy at 50p at a future date. One City analyst said: "It clearly wasn't enough. The share price has been heading south for a few weeks now and someone has obviously got pulled out." Its loss of £6.4m in the first half of 2008 followed land writedowns of £7m. Turnover was down 41% from £18.9m to £11m. The company said: "In common with most housebuilders Oakdene has suffered from the effects of the turmoil in the global markets which has led to a shortage of mortgage availability." In relation to the likelihood of agreeing a covenant deal with its banks, it said: "Discussions around future banking terms are ongoing with our bankers. We are extremely grateful for their support to date and we are seeking to reach agreement on future support shortly." From 'Building'. Shortly to be remamed 'Not actually building any right now' LOL
tornadodown: It's quite disapointing that PSN come out with bad news which drives the whole of the sector lower. PSN are now losing less than OKD in terms of their share price so hopefully there should be more upside potential with OKD.
tornadodown: That could possibly rake in a good return for investors. I notice on the other thread that everyone is talking doom and gloom however I would say that the current share price reflects this. Any sign of an upturn or with further rate cuts in the future then there could be a significant lift to the price.
masurenguy: The Independent 31/01/08 Oakdene Homes Our view: Avoid Share price: 66p (-33.5p) The smallish South-east housebuilder Oakdene Homes was 53 per cent off its year's high when it wheeled out its profit warning yesterday, quickly turning that into a 70 per cent slump. Profits for last year will now be down from £8.6m to around £5m. A bulk buyer of 30 of the 111 units just built at its flagship residential development at Newhaven walked away. They will now have to be sold to private buyers, which could take some time. The planned purchaser of a major development site also got cold feet. At times like these a large housebuilder can mothball sites, shrink costs and soldier on. That option is less easy for a small niche player with little else to fall back on. Oakdene is expecting completions to fall from 228 to 165. Revenue as a result will be down nearly 30 per cent at £37m. There are some optimistic projects in the pipeline. It hopes to win planning approval for various waterside developments at Newhaven and Southampton, involving 1,100 units but in this climate it is unlikely it will start any serious work until confidence returns to the market. Brokers have cut 2008 forecasts from over £13m to £5.4m, reflecting the downturn expected. A bidder keen on picking up a 1,000-unit-strong land bank could emerge, otherwise there is little upside for the shares at present. Avoid.
slapdash: yup and sold badly on the way down... number of concerns... no actual cash generation so all profits are merely 'booked' profits.. interest rates rising means that this simply won't go up.... and will have negative sentiment attached to it... (also this company has loads of debt) was particularly annoyed at the placing.. they got the shares tipped before this and then did it basically as they have no cash coming in... Think management and particularly Turnip and low quality... fundamentally housebuilding is a good place to be but have a look at the Barratt's share price... down about 25% since peak in Jan this year and still falling... Slapper
the huntsman: Oakdene featured in GE-CR last monthly report as follows: Oakdene Homes EPIC : OKD Share Price : 194p Spread : 193p – 195p NMS : 2,000 Total no of shares : 40.35 million shares Market Cap : 78.27 million pounds 12 Month Range : 139p – 215p Market : AIM Website : On 5th June, Oakdene Homes held its AGM, declaring 2006 as a year of major development. Staff numbers doubled and Oakdene completed a rebranding of the business, a move which was received positively across the board. Since the year end, the company has raised 14.4 million pounds net of expenses at 200p a share. The proceeds will be used to finance the purchase of additional strategic sites in the South of England. Oakdene also announced that it had exchanged contracts on its first site in the South West, the old Meridian TV studio in Southhampton. The site comprises in excess of six acres adjoining the water front which is anticipated to have a development value of around 100 million pounds over a four year period. A full planning application for development is expected to be submitted shortly. Trading for the current year so far is in line with the board's expectations and as usual, earnings will be second half weighted. Oakdene also announced the retirement of Susan Massingham as a director of the group. In an industry which has seen dramatic consolidation over the past two years, Oakdene's long land bank and attractive development pipeline makes it a natural acquisition target. That is something that is not discounted in its rating. Nor do we feel that the company's strong growth prospects are reflected on a fundamental basis in a current year rating of 7.5 falling to a multiple of just 6 times 2008 forecast earnings. We initiated our coverage of this stock in September 2004 at 103p with a buy recommendation and at 194p our stance remains buy with a one year target of 299p. Year to end 31 December: Sales (million pounds) Pre-tax profits (million pounds) EPS (p) 2005A 42.58 5.20 16.4 2006A 46.03 8.17 16.9 2007E 65.0 14.0 26.9 2008E 80.0 18.0 31.5 How likely can Oakdene manage to achieve estimated forecasts for 2007 & 2008? Regards, The Huntsman.
redtelephone: I'm have the the same sentiment as you slap.Who dares wins- that's how I succeeded in the past & that's how I'll do it in the future.The prospects are too good on OKD to cash in.There will be a steep rise in share price when the results date is given and then a big leap when the results are declared.There is so much upside & so little downside this is a gem of a share.Excellent 06 results apart,ther will be a good update on 07 figs/further land/development/ aquisition news & the integration of the company we swallowed up.£3.00 Share Price in 6 weeks at least. PS-I think OKD will revert back to a private company within 12-24 months -that's the only way I can explain lack of PR to us shareholders.(Like a former company I was invested in many years ago called Banner Homes- where I doubled my money in a year.)
redtelephone: OKD had a nice full page advert in The Times on Friday for the Newhaven development.Looks a really a nice development. They mention only 30 mins from Brighton on ad - (a place where supply is so much short of demand that it is even really difficult to find a place to rent & prices to buy are still rocketing.Should have been a good Easter for sales with lovely weather etc.I am with you share price that the share price will be around or past £3.00 mark pretty soon-Maybe after the results plus 4 weeks for the press to report and the city & the rest of the market to catch up.I'm still in for the long term on this one,has so much potential.
tanners: Chippy2....sounds like another Red Dog alias created to stroke his inflated ego. Some interesting finds on other Red Dog threads : Marchpole...... Strait Times - 24 Sep'04 - 08:04 - 3 of 52 Expect the National Press this weekend to tip Northamber as a buy. should see the price open on Monday above 90p and rising. This Share is a BUY for today. XTL........ Strait Times - 19 Oct'04 - 12:14 - 7 of 528 I have been looking at the fundamentals and news of this company and whether or not you like Red Dog and I don't particularly, I think his posts on this share are correct. The companies shares dived from 33p to 13p, when XTL suspended trials, now the same trials have been re-started and the dosage is being increased, but the share price has not YET followed through. By now the share price should be at say 22p and rising. So when the investors cotton onto the missed opportunity, they will start to buy again. I moved into this share at 14.5p yesterday. More from the XTL thread.......(talking to his 'mate' Zodwa) Strait Times - 20 Oct'04 - 16:13 - 22 of 528 There is a lot of buying today and if there is no big sell by the end of day, tomorrow should see the share rise quite strongly. What I like is that investors are at last recognizing, that this share is way undervalued and the bounce is now defiantly on. Expect the share price to rise to a higher level in the next few trading days. Zodwa - 20 Oct'04 - 16:17 - 23 of 528 Can anybody confirm or at least project if the mid-price trades today, are buys or sells. Red Dog - 20 Oct'04 - 17:40 - 24 of 528 Zodwa: I can't tell with this share. I had expected the share price to rise again today, however I do now expect a tick-up tomorrow in the morning. As others have said the share price is gaining strength and we should see good gains over the next week or two. Seems a very similar pattern to the postings on here a few weeks ago (all of which had been changed from original negative comments by the author(s)): Strait Times - 25 Jan'05 - 12:42 - 25 of 58 Well, it does look like we are on the way up. Red Dog - 26 Jan'05 - 08:37 - 26 of 58 On looking at the fundamentals and reading the news reports on Oakdene Homes, the company looks in a strong position to increase profits this year and in the short term the share price will increase substantially Strait Times - 24 Jan'05 - 12:14 - 29 of 41 Somebody just sold 36,000 shares, which is a lot for this company in one trade, but this share has in my opinion bottomed and should be on the rise from now on. Zodwa - 25 Jan'05 - 08:26 - 30 of 41 We all know the share price has come off from the placement price of 115p, but this share will move up strongly in the next 3 months.
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