Quadrise Share Discussion Threads

[quepassa] 01/8/2011 08:56

Still no precise date given for the Q1 Interim Management Statement other than "August" on the Financial Calendar page of QED's web-site.



Last year it was 10th. August - so one would perhaps expect QED to know by now when they are going to make the relevant announcement.

Maybe Quintain still need to keep things flexible to coincide with other contemporaneous Corporate announcements?

ALL IMO. DYOR.

QP

[wendsworth] 29/7/2011 16:45

QuePassa: First class post . Thanks. The important thing is that Laxey have ' put there money where there mouth is' ..so to speak.

jaws6 : The MMs are nervous about this stock and are anticipating a not insubstantial upward movement in the share price. I bought substantially more than 5000 yesterday and had to pay a premium on the offer price. that's why its held up well over the past couple of months of comparative market volatility.

It won't take much to move this stock on 10% that's for sure.

I'm sticking by my forecast of corporate action this quarter and next month's trading update could well kick things off. The agm is confirmed for 5th September.

With 2012 getting ever closer and other property stocks having positive updates QED looks ripe for a bidder.

[wendsworth] 29/7/2011 16:45

QuePassa: First class post . Thanks. The important thing is that Laxey have ' put there money where there mouth is' ..so to speak.

jaws6 : The MMs are nervous about this stock and are anticipating a not insubstantial upward movement in the share price. I bought substantially more than 5000 yesterday and had to pay a premium on the offer price. that's why its held up well over the past couple of months of comparative market volatility.

It won't take much to move this stock on 10% that's for sure.

I'm sticking by my forecast of corporate action this quarter and next month's trading update could well kick things off. The agm is confirmed for 5th September.

With 2012 getting ever closer and other property stocks having positive updates QED looks ripe for a bidder.

[jaws6] 29/7/2011 12:59

Both link before good info, Tks.

[jaws6] 29/7/2011 12:57

Can not buy more then 5000 at 59.75, it is like this from last 2 days, only way to get cheap stock is on bid only.

[scburbs] 29/7/2011 12:41

An interesting plan which will help drive footfall to Greenwich Peninsula.

"A walkway over the top of London's O2 complex has been given approval.

It is hoped the temporary structure will be built above the venue in Greenwich, south-east London, in time for the 2012 Olympics.

It will be suspended from two of the former Millennium Dome's yellow masts and lead to an observation platform.

It will be almost 200m (656ft) long and 60m (196ft) above the ground at its highest point, and be capable of holding up to 90 people at one time."

[quepassa] 29/7/2011 11:58

Laxey Partners hold their majority QED investment in their Terra Catalyst Fund.

Laxey are the second largest Major Shareholder in QED with 54 million shares being 10.37% of the issued share cap.

The Terra Cat Financial statements for y/e 31st March 2011 were released a week ago on 22nd July.

The Finacials contain the following about Quintain which underlines the great value perceived by Laxey in QED and also their commitment to "work closely with the respective Boards TO ENSURE THAT THE DISCOUNTS ARE NARROWED AND SHAREHOLDER VALUE IS DELIVERED" ( my capitals). See below for the relevant extract from the Terra Cat/TCF financials:-



"New Positions



In the year under review TCF has initiated and/ or grown significant positions in property stocks trading at levels which were, in our view, substantially below both the stated NAV of the company and also the expected long term intrinsic value of the business. Notable examples of this include Quintain Estates, Tamar European Industrial Fund and Lok n Store plc where we were able to buy significant quantities of shares at discounts to stated NAV of approximately 70%, 60% and 60% respectively.



We are very excited about the prospects for these three investments and will look to work closely with the respective boards to ensure that the discounts are narrowed and shareholder value is delivered. Exactly how this is done will very much depend on the specific circumstances of the company, its underlying assets and the quality of the existing management team. We will assess each position on its own merits but our objective of driving shareholder value will always be the same."


This is a link, care of Investegate, to the Terra Cat financials:-




It is encouraging to read the views of esteemed activist investor Laxey about Quintain. It is heartening to read that Laxey are "VERY EXCITED ABOUT THE PROSPECTS FOR THESE INVESTMENTS".

One wonders whether Laxey may or may not already have had any influence of whatever nature on the recent top-level management changes at QED.

In my view, the share price performance of Quintain has been absolutely dire since the Rights Issue and a static investment in a boring FTSE-tracker fund over the same period is likely to have produced better investor returns. The recent share price uplift since earlier this year - especially since Laxey increased their stake- has been welcome and hopefully points to a brighter future for investors.

Certainly, in my view, the management of Quintain have failed in any meaningful way to rectify the huge discount to NAV compared to many other UK property companies and this is not a track-record to be proud of. Nor does not it instill faith from an investor's perspective in my opinion in the historic management team at Quintain which would, in my view, further benefit from more change.

The arrival of Laxey seems to have added a new impetus to the share and one hopes that Laxey continue to work with the Board to address issues which would ultimately benefit all shareholders and further reduce the current embarassing and gaping discount to NAV.


ALL IMO. DYOR.

QP

[wendsworth] 28/7/2011 17:59

Interesting 'leg-up' towards the close. Recent positive Board changes together with Land Sec's trading statement augur well for QED . I still think there will be some corporate action this quarter. As ever ..we'll see!

[owenski] 28/7/2011 17:36

Came back to test 60p, seems to have found support

[jaws6] 28/7/2011 15:57

Smudgeroo
Thank you for link

[cockneyrebel] 28/7/2011 12:31

IMS statement Aug 10 last year - chart still curving up nicely too.

I bet there's a chase to buy ahead of that statement at some point imo.

CR

[jaws6] 27/7/2011 10:40

QED when is next statement ?Any dates ?

[honiton] 27/7/2011 08:49

Middlehaven is a dump. I can only guess that there were some hefty incentives for Quintain et al.

I live in Durham, by the way so its relatively close.

[jaws6] 26/7/2011 15:12

Rob
Tks, good link and info.

[celeritas] 25/7/2011 11:59

Seems fairly priced to me once debt is taken into account, bid interest could take it higher.

[bones30] 25/7/2011 10:58

Read-across?

[targatarga] 25/7/2011 10:52

looks like this could be a good week......

[red army] 23/7/2011 08:58

I don't know about a bowl pattern but there sure is a cup and handle pattern evolving.

[owenski] 22/7/2011 22:12

Agree with that brownie.

60p was a resistance point, looks like it could be cleared after the second Laxey spike, seems someone's taking big chunks.

[brownie69] 22/7/2011 20:17

Nonetheless I think getting past 60p which has caused a couple of wobbles is significant.
More importantly though it looks like a big buyer is around, not a surprise as we are still looking at a 50% discount to trad NAV. however I'd be getting optimistic that August statement will show an increase in NAV based on read across from recent property copany updates. Thus a possible double whammy of a decrease in discount as the market begins to believe in QED again, and an increase in NAV.
My post August statement target share price is 78p based on increased NAV of 130p and a reduction in the discount to 40%.

[red army] 22/7/2011 18:11

A genuine breakout does not occur until around 110p

[tom111] 22/7/2011 16:47

Do we have a break out at last?