Purplebricks Share Discussion Threads

[fxprotrader] 17/10/2019 14:54

rog....you used to be nickyname....isnt that post a little hypocritical?

[1oughton] 17/10/2019 10:00

rog - you are wildly out there. rather like your stock picking

[rogthepodge] 17/10/2019 09:53

FXprotrader and 1oughton appear to be the same person
thousands of ADVFN names are multiple aliases, they should stamp it out

[andy] 17/10/2019 08:50

Rog / 1oughton,


No, you were moderated for violating the thread rules.


If you want a personal battle with someone else, take it to another thread.

[1oughton] 17/10/2019 08:43

moderated by someone who thought i was rog - evidently he now knows i am not !

[fxprotrader] 17/10/2019 06:45

It is impossible to back woodford now given what he has done. Only you could support him numb nuts. Its clear he got too big for his boots. At that stage whatever happened in the past is forgotten. He thought he had the midas touch because the press kept telling him that and thought he could back every acorn and it would turin into a forest. Never works like that

[rogthepodge] 16/10/2019 15:32

what's NLG? you are a complete fantasist, or I assume this is deliberate misrepresentation

[rogthepodge] 16/10/2019 14:14

that is an appalling bit of jornalism if you have quoted it properly
PURP did not bring down Woodford's fund!

[stantini] 16/10/2019 13:09

As posted today in The Negotiator - the estate agency trade online magazine.

'The final death throes of City stock picker and Purplebricks backer Neil Woodford’s controversial Woodford Equity Income Fund were played out yesterday as the fund announced that it would shut down permanently in January some four months after being frozen.

It has also been announced that Woodford has been fired from his eponymous £3.2 billion fund despite resisting the move, it has been reported.
The equity fund got into trouble after investing heavily in Purplebricks which, although the gamble paid off initially when its stock price sky rocketed, later brought it to grief when the hybrid estate agency’s misadventures in the US and Australia led its share price to nosedive, dragging the fund with it.
The Woodford fund is now attempting to liquidate all of its assets so that investors can be repaid.

“After careful consideration, the decision has now been taken not to re-open the fund and instead to wind it up as soon as practicable,” its administrators Link Fund Solutions have told investors.

Purplebricks shares sold

Yesterday the fund sold two thirds of its remaining holdings in Purplebricks realising approximately £35 million, leaving it with just 5% of the company’s shares.

Not so long ago it held nearly a fifth of all the publicly-listed Purplebricks shares.

The collapse in the agency’s share price, which has dropped from a peak of £4.72p two years ago to £1.11 today, has been blamed for playing a significant role in triggering the closure of the Woodford Equity Income Fund.
Fund manager BlackRock and investment banking firm PJT Partners have been appointed to wind-up the fund.'

[stantini] 16/10/2019 13:06

As posted in The Negotiator - today

'The final death throes of City stock picker and Purplebricks backer Neil Woodford’s controversial Woodford Equity Income Fund were played out yesterday as the fund announced that it would shut down permanently in January some four months after being frozen.

It has also been announced that Woodford has been fired from his eponymous £3.2 billion fund despite resisting the move, it has been reported.

The equity fund got into trouble after investing heavily in Purplebricks which, although the gamble paid off initially when its stock price sky rocketed, later brought it to grief when the hybrid estate agency’s misadventures in the US and Australia led its share price to nosedive, dragging the fund with it.

The Woodford fund is now attempting to liquidate all of its assets so that investors can be repaid.

“After careful consideration, the decision has now been taken not to re-open the fund and instead to wind it up as soon as practicable,” its administrators Link Fund Solutions have told investors.

Purplebricks shares sold

Yesterday the fund sold two thirds of its remaining holdings in Purplebricks realising approximately £35 million, leaving it with just 5% of the company’s shares.

Not so long ago it held nearly a fifth of all the publicly-listed Purplebricks shares.

The collapse in the agency’s share price, which has dropped from a peak of £4.72p two years ago to £1.11 today, has been blamed for playing a significant role in triggering the closure of the Woodford Equity Income Fund.

Fund manager BlackRock and investment banking firm PJT Partners have been appointed to wind-up the fund.'

[sweet karolina2] 15/10/2019 20:59

Woody'd PB holdings will be dumped by Black Rock over the coming months. If anyone is genuinely interested in a takeover they will make and offer for the ex Woody shares at £1 or below in the next few weeks. No new owner means no takeover and PB share price will be fully subjected to the laws of gravity.

[tightfist] 15/10/2019 20:53

Be careful, the RNS says "No trading in the stock - voting control interest over stock transferred to new manager". When beforehand did he dispose of stock?

[stantini] 15/10/2019 09:03

Well rogthepodge Woodford s pigeons have come home to roost the fund is being wound up and in jan 2020 investors will be lining up to get some of their cash back. Will this cause a run on pb as investors want to get hard cold cash back out. Not a good times for pb maybe 2020 is the time of clarity and clear vision where smoke and mirrors gives way to more pragmatic ways of doing business. Thoughts. 300p a share by summer rodge or 30p a share?

[stantini] 15/10/2019 08:58

With the Woodford rout in full flow, and investors lining up to get some of their funds back in jan 2020 what now for the fortunes of pb will there be a mass exodus of shareholders. The closing down of woodford’s vanity project will de-stabilise a lot of ventures for sure. Thoughts

[stantini] 15/10/2019 08:57

With the Woodford rout in full flow, and investors lining up to get some of their funds back in jan 2020 what now for the fortunes of pb will their be a mass exodus as shareholders. The closing down of woodford’s vanity project will de-stabilise a lot of ventures for sure. Thoughts

[stantini] 14/10/2019 16:01

Purplebricks share holders may heed the latest news from one of the remaining onliners - has just recorded 30M loss for their last year according to Estate Agency Eye … Rosalind Renshaw reports ...


'Yopa made a pre-tax loss of over £30m, its latest accounts have reported.
Documentation filed at Companies House shows that in the 12 months to the end of 2018, Yopa made a loss of £30,365,369.

This compared with a loss of £18,332,269 for the year before.

However, Yopa says that 2018 was a “year of investment and strategic change”.
It says that its loss was a result of the investments made plus the launch of No Sale, No Fee, which meant deferred revenue.

The documentation says that the decisions made in 2018 and the first half of this year are “already starting to bear fruit and the company will see a significantly improved financial performance in the second half of 2019 and more fully in 2020”.
Yopa, which is backed by the investment arm of the Daily Mail’s owners, plus Savills and LSL, says in its newly filed accounts that there “remains sufficient opportunity for the business to grow and capture market share”.

The accounts show that despite its widening losses, Yopa’s revenue was up 60%, from some £4m to nearly £7m (£4,287,421 in 2017 to £6,857,065 last year).

Gross profit is started as up 32%, at £2,684,809, but a big jump in overheads – £33,050,375, up from £20,366,932 – helped it into actual losses.

Yopa’s cash in hand also declined, down from around £20m at the end of 2017 to some £10m at the end of last year.

Creditors with amounts falling due within one year went from £1m due to paid at the end of 2017 to about £2m at the end of last December.

Staff numbers also rose steeply last year – from 97 as at the end of 2017 to 200.
The accounts were signed off on September 27 this year, after the resignation of co-founder Dan Attia and the appointment of Grenville Turner as chairman, and just days before the departure of CEO Ben Poynter was announced on October 1.

The company, which currently has no CEO, received further investment of £16m in August this year by way of equity issue from existing investors with the exception of LSL which did not participate.

As one pundit observed,

'£49m cumulative losses for the last 2 years (God knows how much before) Borrowings of an additional £16m this year. Revenues up to £7m. So if their costs AND income stay the same this year coming, it’s another £30.6 m loss isn’t it?'

Maybe, to save time YOPA should just have a bonfire on 5th of November and use the 16M they have just collected as fuel. Then close the business. Expensive firework night, but at least that would be an end to the annual cash burn.

Thoughts?

[1giraffetrader] 14/10/2019 09:31

Well the trend of online agency reporting losses continues.

Not sure how people can still think online agency can work as these figures are nothing short of a tragedy.

made a pre-tax loss of over £30m, its latest accounts have reported.

"Documentation filed at Companies House shows that in the 12 months to the end of 2018, Yopa made a loss of £30,365,369.

This compared with a loss of £18,332,269 for the year before."

They are predicting significantly improved performance ahead, how about taking it one step at a time and stopping the rot which is the losses first!

It doesn't fill me with much hope for the online business model considering YOPA's business model is almost a cut and paste of PURP's business model...