Redrow Share Discussion Threads

[dr_smith] 31/8/2019 10:42

Just spotted - Final results on thurs 5 sep.
Not showing on LSE diary, but picked it up from Youinvest video.
Sandwiched between Bdev finals on Wed and BKG ta on Fri, providing context, though likely overshadowed by other stuff I believe is going on. ;-)
Dave

[dr_smith] 21/8/2019 07:58

Thank-you for posting Dmd.
I hadn't seen them saying that in shares magazine or other comms I have as account holder with them.
I think investment based purely on hopes of a takeover and premium would be one full of anguish.
For myself, as current holders of builders, the Forward EPS and div's are at a whacking high percentage, mainly as a consequnce of share price being below what would otherwise being considered the norm, due to Brexit and other geo-politics tarnishing the whole FTSE. It would be a shame to lose UK co's to o'seas investors but and financial side I would fear any takeover, even with premium on todays share price would not compensate for locked in value that shareholders hope will be realised once these clouds go away.
I've frequently seen articles on low share price and low pound creating aquisition targets, but not much in follow through, but talks tend to go on un-anounced behind closed doors, so don't know if predatory talks are media hype or reality.
IMO
Dave

[dmdmdmdm1] 20/8/2019 20:01

After seeing the 40% hike in Greene King this week after a big from a US buyer, I wondered what people thought of the chance this might happen with Redrow.This article (sorry for source) suggests that AJ Bell thinks this could be a potential target:https://www.thisismoney.co.uk/money/markets/article-7316085/Predators-circle-UK-firms-pound-plummets-amid-fears-no-deal-Brexit.html

[undervaluedassets] 05/6/2019 08:58

just noise .. nice price currently

[dmdmdmdm1] 03/5/2019 13:54

Any particular reason for this to keep falling this week?

[aimingupward2] 18/4/2019 08:45

No longer ‘pending’;. The cash is in my account this morning.

Wish you luck, DRS, in chasing up yours.

[dr_smith] 18/4/2019 08:00

Thank-you aimingupward2.
Still not there, I have chased broker.
Stock exchange works on contract dates, no reason for delays for internal transfers between Crest and client accounts.

[aimingupward2] 17/4/2019 21:23

I got mine as a ‘pending’; credit in my iii account today, .but iii had previously advised that up to 10 days should be allowed for the money to arrive. Probably, DR Smith, you’ll get yours either tomorrow or next week.

[dr_smith] 17/4/2019 20:44

Thanks for replies, I'll chase mine tomorrow if not there already.

[mrhazza29] 17/4/2019 18:44

Received mine through Hargreaves Lansdown. It still seems to me as a cheats way to look like your giving money back to shareholders when in effect you are lowering the amount of shares thus lowering the amount of dividends to be paid. Im probably way off, just seems that way.

[sharw] 17/4/2019 17:56

iWeb credited it today

[willie99] 17/4/2019 17:35

I got mine today in interactive investor.

[dr_smith] 17/4/2019 16:57

Well..paperwork says Crest accounts to be credited 16th April re B shares.
My Youinvest account isn't showing it yet.
Anyone rec'd it yet - and if so, via which broker/platform?

[aimingupward2] 12/4/2019 08:49

- or more accurately, ‘fewer’.

[robertball] 12/4/2019 08:46

So the share price stays the same but you have less shares and cash instead. Post spec. Div

[dr_smith] 08/4/2019 13:40

Thank-you Sharw.
When they use terminology such as "value" it doesn't help the clarity:

"to reflect the value that will be returned to shareholders, it is intended that the B Share Scheme will be accompanied by a consolidation of Redrow's" as opp

[sharw] 08/4/2019 13:04

16th April is from this:

[aimingupward2] 08/4/2019 11:54

My broker, iii, has issued a not very explanatory 'corporate actions' notice which says that ex divd date is today but one should allow up to 10 days for the cash to be received.

[dr_smith] 08/4/2019 11:36

Interims said "As a result of our continuing strong earnings and cash performance, we are proposing a 30p per share cash return to shareholders through a B Share Scheme, which will be in addition to the interim dividend."
but I don't see anything in todys rns about this payment - as cash that is.
Sharw - Which rns do you get 16th April payment date from?

[sharw] 08/4/2019 11:02

Sorry, but you've got it very wrong.

For every 21 shares that you had, worth about 630p, you now have 20 shares worth about 630p and on 16th April will receive 21x30 = 630p cash from the redemption of the B shares. Sounds fair enough to me and shows you why it has been done - to retain share price comparability.

[dr_smith] 08/4/2019 08:34

As this is a shuffle with no real event I didn't read the over long rns's and half assumed we'd be getting the 30p, but it seems the co keep this.

So if we benchmark RDW at 630, we get 20/21 and the 1/21 is 30p, sold to Bank, co gets dosh and co (shares) worth more, so share price stays the same.

Look - I said it in 2 lines what takes the legal boys several pages!

Oddity - if you look at google finance share price chart for period of month or more it shows share price hovering around 30p not 630. Must be a data glitch.


No adjustment on my a/c yet, I guess that will be done by this time tomorrow or possibly Wednesday by which time RDW will have the 30p in their back pocket.

...and regular div of 10p should be rec'd tomorrow.

Don't shoot me if I have any of that wrong. ;-)

Dave

[sharw] 30/3/2019 12:13

This is a reminder that the shares go ex entitlement next week (record day Friday). Most nominee brokers have it in their T&Cs that they keep any fractions. Holders may wish to adjust so that they hold an exact multiple of 21. If you hold a number that convert to xx.99 shares you will only get xx and may be giving your broker a gift of £6.

[aimingupward2] 26/3/2019 10:12

HSBC raise their target price by £1 to 790p.