Quadrise Share Discussion Threads

[davidosh] 31/8/2011 23:31

I do not want to disappoint you guys but institutions and the likes of Laxey very rarely attend AGMs unless there is a major issue that requires voting on the day to sway a decision. They generally demand private meetings with management and Laxey are likely to have already met with management here on at least two occasions and no doubt more as there have been two sets of results since they bought in their ever increasing stake. The Monday Agm should still be very interesting though.

[quepassa] 31/8/2011 22:34

Last time Laxey increased their stake less than three months ago on 9th. June , the share price rocketed to around 66p on the back of that news and then settled in the early 60's.

Laxey are buying because - according to their recent Terra Catalyst fund statements - they are very excited about the exceptional prospects for Quintain. My earlier posts refer with a link to the Laxey Terra Cat's latest statements.

Laxey are now the new largest shareholder following today's post-close RNS having acquired a further stonking 6.8million shares with a now revised shareholding of 60.8million which is up from 54million shares, being 11.68% of the issued share cap of QED.

Laxey have now leap-frogged Caledonia into pole position as the single most powerful shareholder as measured by voting power. And what a great shareholder to have on board as a dedicated champion of increasing shareholder value and whose primary purpose is, as a hedge fund, to max out shareholder value using proactive tactics in the investments which it makes.

An after-hours RNS such as this can have a major impact on share price when the trading session opens next day.

My guess is that we'll see 60p+ again in very short order.


One presumes that Laxey will be present in force at the 5th. September 10am AGM to be held at QED's Grosvenor St. HQ and it will be invaluable to meet and hear them as well as to get an impression of the measure of the man that is Max James. .

ALL IMO. DYOR.

QP

[davidosh] 31/8/2011 21:36

I said 'much closer to the NAV' for a bid. That does not mean a bidder would wait until the share price reaches the NAV but of course to keep us all happy hopefully the NAV will continue to increase nicely each year from here and a bid may not even be necessary for us to see a satisfactory return.

[wendsworth] 31/8/2011 21:21

I venture to suggest that if there is or are bidders lurking then they're unlikely to wait until the share price returns to the NAV ....?

I was not suggesting that a bidder would emerge because Laxey is continuing to increase its stake.

Wait and see !

[nigelpm] 31/8/2011 20:15

Agree with davidosh. A bid isn't likely right now.

[davidosh] 31/8/2011 20:13

Why should a bid come in just because Laxey are increasing their stake ? Laxey came in nearly a year ago now and there have been no bids so far. Why should shareholders want a bid whilst there is so much to do and gain from over the next three years anyway ? I would prefer a bid when the share price is much closer to the NAV in a couple of years time at least. No doubt Laxey just see the value here when the share price drops below certain levels

[nigelpm] 31/8/2011 19:48

Geoff Foster knows jack all about QED.

[wendsworth] 31/8/2011 19:46

Detail on current Laxey stake is that it has now increased to 60.82million shares representing 11.7% !

Geoff Foster of the D.Mail follows this company and doubtless will be running the rule over the situation.

A bid could well be imminent . Laxey thoroughly research the sectors they invest in and will be well aware of those likely to make a move.

[wendsworth] 31/8/2011 19:46

Detail on current Laxey stake is that it has now increased to 60.82million shares representing 11.7% !

Geoff Foster of the D.Mail follows this company and doubtless will be running the rule over the situation.

A bid could well be imminent . Laxey thoroughly research the sectors they invest in and will be well aware of those likely to make a move.

[tom111] 31/8/2011 19:35

Agree CR expect a nice follow up rise tomorrow they obviously think this is a bargain

[wendsworth] 31/8/2011 19:34

After hours RNS, regarding Laxey further increasing their stake, will result my forecast return to the fifties..probably this week. I did say the RNS's would start to flow.

A positive forward look at the agm could well flush out a bidder . Has Laxey got wind of something? I've already set my limit sale at TDW!

[davidosh] 31/8/2011 18:42

RBCRBC...10am start I am afraid. The AGM notice is with the AR on the website from memory.

[nigelpm] 31/8/2011 18:27

There's a surprise. Laxey take advantage of the recent drop to purchase another big lump.

[cockneyrebel] 31/8/2011 18:23

These went up 20% on the last Laxey buy - they'll be up nice tomorrow imo.

Nice little bowl just formed too.

CR

[rbcrbc] 31/8/2011 18:13

It is a little difficult to attend the AGM when their website gives neither the location or start time ! I may turn up if the start time is after 11:00am

[tom111] 31/8/2011 17:40

Laxey i see have just increased their holding-nice.

[davidosh] 31/8/2011 16:21

123Value....Why not pick up a very small initial holding and then attend the AGM next Monday. You can ask direct questions to all the directors and learn much more from the answers than you will just asking here ?

Any of you here coming to the Agm ?

[123value] 31/8/2011 15:33

Hey all,

Just started having a look at Quintain, and like what I see so far.

Does anyone have an insight in to how exactly the valuers get to the balance sheet values for the properties? I understand they are using a DCF, but am not sure what they give credit for in terms of land held for development, i.e. is the balance sheet value a discounted future value of buildings where work has not yet started, or only buildings in progress etc?

Any help would be greatly appreciated.

Thanks a lot.

[wendsworth] 31/8/2011 12:16

fireplace22 and The Juggler : You're right chaps! My previous post 5273 refers.

I'ts gone on approaching 10% since I doubled my holding last Friday!

tiswas : QED is still 'the pick' of the sector for me.

[tiswas] 31/8/2011 11:51

Property developers were under pressure in London on Wednesday, after analysts at Morgan Stanley reduced their price targets across the sector by 20 per cent. It also cut its rating on two of the sector's biggest names by two notches.

[the juggler] 31/8/2011 10:03

Wendsworth - I will assume you mean next month as it is the 31st today! I wish you were correct in your prediction but it is highly unlikely. Let's hope September sees steady rises here.

[fireplace22] 31/8/2011 10:02

'Reckon we'll see the share price back in the fifties again this month.'

Hope so wendsworth, but with only 6.5 trading hours left, I'd say you are a tad optimistic.

[wendsworth] 31/8/2011 09:54

scburbs: Some interesting posts. Thank you.

Current share price in no way reflects the true value of this company. London 2012, recent board changes and Laxey's 'involvement' are all positives.

I did not anticipate the fallback from the 60s but with all undervalued stocks one has to keep something in the locker to buy on the dips.

Reckon we'll see the share price back in the fifties again this month.

[scburbs] 30/8/2011 15:11

True designer outlet centres continue to outperform general retail (not yet clear from tenant base whether Wembley LDO will be high end enough, target tenants listed below).

"The world economy may be flirting with disaster once again but in a sleepy corner of Oxfordshire they are shopping like it's 2007.

...

A trawl around Britain's most successful designer outlets reveals a marriage of high street and high-end, with brands such as Burberry rubbing shoulders with Ted Baker and Superdry. For luxury brands like Gucci, Prada and Burberry it is a way to clear unsold goods under the radar and McKenzie reveals that while fashion labels "don't like us to talk about them", they "make a ton of money out of their outlet businesses".



"Total sales at McArthurGlen's seven UK designer outlets in July [2011] increased 6.5% year-on-year."

Source: EGi

[scburbs] 30/8/2011 14:53

Indications of intention to sell 100% of Wembley hotel and rumours on JV partner for LDO (seems to have been linked since June, but I don't recall seeing it previously).

"Quintain is preparing to go to market with a 100% sale of its four-star Hilton Hotel in Wembley, north-west London after cancelling plans to sell a 50/50 joint venture stake, CoStar News can reveal.

...

Quintain did not mention the change of strategy to a 100% sale in its interim management statement this morning, but confirmed the move to CoStar News. It declined to confirm the guide price.

However, sources suggested the hotel is likely to fetch around £75m. CB Richard Ellis has been advising Quintain.

...

The group is also close to agreeing talks with a joint venture partner, understood to be former Stannifer chief Ron Barrott, to develop and operate the 280,000 sq ft London Designer Outlet Centre at the scheme."