Off-plan Fund Share Discussion Threads

[tara7] 30/6/2009 16:34

Administrator will not have the cash, just a bad loan lent on a site worth around 40% of the old book value. As i have said site is best suited to low cost homes to rent, that means new planning and so on. OPF should in my view get the cash back fast. Not sure about any overhang of stock seems to me a non starter. Next, Henry homes only fronted the deal had a tie up with the guys who got planning.

[tara7] 30/6/2009 15:20

NOTE, it is not henry homes who bought the shares , it was the boss, now, he would only have done that, if he was sure he could make money on the deal, ie he would not want to lose his company AND the OPF shares. He would also know [in my view], that OPF stock should trade at around 70p as soon as the Canon cash comes back in to OPF.

[pelleeds1980] 30/6/2009 15:12

Cheers guys its nice to walk into a profitable position wish my other investments were the same way!

[knowing] 30/6/2009 15:01

pell welcome it was tara and top who alerted me so thanks that way too.

[double6] 30/6/2009 14:27

Will be interesting to see if it holds these gains, considering months of Below NAV capitalisation

[topinfo] 30/6/2009 14:16

Still a long way to go to anywhere near its portfolio value, another big rise 2moro should see it push through 30p. Every small buy moves the share price up.!!!

[pelleeds1980] 30/6/2009 14:14

Knowing cheers for the tip on the CR thread got £2k at 19p earlier on as a result...

[jamie62] 30/6/2009 14:14

should help drive the price up - i too can't top up on-line

[topinfo] 30/6/2009 14:04

Yeah I know, very tightly held by looks of things.

[knowing] 30/6/2009 13:36

Difficult to buy any online.

[topinfo] 30/6/2009 13:33

Evean at half of NAV like above poster said that would give you share price of around 40p so still 86% upside just to get to half NAV. Rise is maintaining itself so should be constant gainer now for a few days whilst people wake up to how cheap this is. Also it will be a nice takeover target if it doesnt correct its share price soon in line with NAV.

[knitcraft] 30/6/2009 13:30

For info....Large sales on advfn trades are a switch !!! Do your sums and check amounts

[jamie62] 30/6/2009 13:27

i too must thank tara for this...

[barnetpeter] 30/6/2009 12:21

Still holding - these are my biggest investment with an average of 12p. Got to thank tara for this one - even though nowhere to be seen.

Crazy discount to nav and it cannot last. 41p is a realistic price - still 50% discount.

[drbeng] 30/6/2009 12:17

Nice! Sounds like you've got your priorities in order - I've just got off a packed commuter train full of miserable sweaty psychopaths, so the pacific island routine seems like a preferable option.

Cohibas were stupidly cheap in Mexico - bartered them down to £15 for 5 pyramidos; at £3 a lardy vs the usual 20 it made very pleasant smoking - and sneaked plenty more through customs!

As for the del boys, yup, rinsed my veins out with them too.

Fill your boots, look forward to hearing about it all!

[drbeng] 30/6/2009 12:06

Hope you're having a good hol mate - bit of action here for a change at least!

[topinfo] 30/6/2009 11:09

Cheap very cheap.

[topinfo] 30/6/2009 11:09

Performance
The unaudited net asset value ("NAV") of the Fund at 31 March 2009 was GBP9.1
million (30 September 2008: GBP9.1 million). The NAV per ordinary share has
increased to 81.9p at period end from 81.2p at 30 September 2008, largely due to
the revaluation of the investment properties at The Heart in Walton, described
in note 5 to the financial statements.


In respect of the Fund's share price in March 2009 we commented on the
significant discount to NAV per share and there has been little improvement in
the intervening period.

[coxewan] 30/6/2009 08:08

Looks like we could be in for a nice surprise here.

[keya5000] 30/6/2009 07:51

Canon House, Wallington: The Fund's investment adviser is in regular contact
with the developer and has recently been made aware that the developer is having
considerable difficulties with respect to its obligations to its lending bank
and the freehold owner of the site. Indeed, the Fund has today been given
notice that the lending bank, Bank of Scotland Plc, has appointed a receiver
under the Law of Property Act 1925 in respect of its charge over the developer's
leasehold interest in the site. The Fund is in discussions with its advisers
and the board expects to be in a position to make a further announcement in the
near future when it has fully ascertained both the Fund's and the related
parties' rights in respect of the development and the contractual position.
Construction has yet to commence.