Safeland Share Discussion Threads

[jeff h] 11/5/2006 12:43

Safeland has just sold out of Serviced Office Group....nearly £900k into
the coffers

[jeff h] 11/5/2006 09:47

Not often there's any news on Safeland activities:-

Mill plan may be rejected May 10 2006

By The Huddersfield Daily Examiner

CONTROVERSIAL plans to demolish part of a Marsh mill building look set to be turned down tomorrow.

The application for Marsh Mills in Luck Lane sparked protest from existing businesses when it was made by London-based Safeland Plc last month.

But members of the Huddersfield area planning sub-committee look set to refuse the application.

The plan included demolishing part of the mill to build 19 town houses with integral garages and altering the existing part of the mill to form 31 apartments and office space.

Business owners said they have been left in the dark after they claimed their landlord applied to knock down their premises - without telling them.

The mill houses several businesses, including a gym, furniture, glazing and catering suppliers and a dance studio.

When the application was submitted Kirklees ward councillor Mehboob Khan said the site employed about 80 people and was not a derelict mill.

He said the suggested accommodation was not suitable for the area or the type needed.

No-one was available to comment at Safeland.

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On a different tack The Times reckons the BizSpace auction is down to 2 players
...results are due next week.

[torabora] 26/4/2006 10:39

Stock is 65m pounds, rents are 6.5m pounds. = 10% yield. So this is the sum of the parts,14m of nett assets in the accounts, now,add on 65m [what the value of the properties may be in todays market on a 5% yield over and above what the accounts show]=£79m pounds. or £17.30 per share prior to tax. Today the shares cost £5.50p to buy.

[hybrasil] 26/4/2006 10:24

Tora
I have often made money from undervalued property companys and I will have a detailed look at Comland.
However even if you double the value of the stock that only gives assets of £28 m against a market cap of £24m (not exactly jammy).

[torabora] 26/4/2006 09:16

That is just the reason why the market and you have missed the plot. This company has its property on the books as stock, Not investments. ie they are in the books as COST.They are getting 10% yield on the stock, but if sold, the going rate is around 5% yield. That doubles the value of stock. It also gives rise to a huge tax bill, however if they change to a REIT in Jan 07?

[hybrasil] 26/4/2006 09:02

Tora
Since you keep rabbiting on about Comland I had a look at its figures.
In my book for a property company with net assets of 14m and a market cap of 24m it is way overvalued.
Where do you see the value in it?

[torabora] 26/4/2006 08:53

Now have a look at COM for an under valued property company.

[torabora] 26/4/2006 08:53

Now have a look at COM for an under valued property company.

[hybrasil] 26/4/2006 08:44

I see one person has sold 3K shares this am. I would have thought that until we have the results of the Biz space sale that it would be quite a mistake to sell these.
I bought this am and my tiny buy of 5k shares (not shown as yet) pushed the price up 5%. I think the mms are probably a little short of stock here.

[jeff h] 18/4/2006 08:10

....looks as though Biz will be sold soon...6 bidders...

Bizspace examines REIT route for auction
By James Quinn (Filed: 17/04/2006)

Advisers running the auction of Bizspace, the managed workspace provider, are investigating the possibility of turning the company into a Real Estate Investment Trust (REIT) in an attempt to increase its value.

Members of Price Waterhouse Cooper's corporate finance team, who are running the Bizspace sale, are looking at splitting the company in two.

One part would become a property company, owning Bizspace's building and land assets, while the other would be an operating company, managing the assets and the business within.

It is thought to be the first time since Chancellor Gordon Brown finalised the rules on REITs that such a device has been used during an auction process.

Although property companies cannot turn themselves into tax-efficient REITs until January 1 2007, the financiers working on the sale are running the numbers.

REITs tend to carry a higher value rating and so, if it were possible to convert Bizspace, any purchaser should arguably pay a higher premium on the current share price.

It is understood that there are six bidders participating in the auction, which is in its early stages.

The six include quoted property group Teesland, privately-owned property fund manager Highcross and business centre chain Chancerygate, plus three as-yet unnamed private equity bidders.

Any sale would lead to a cash windfall for septuagenarian shareholder Jack Petchey, whose Trefick vehicle owns 23.7pc of Bizspace.

At 82.5p a share, Bizspace is valued at £68m, making Mr Petchey's stake worth £16.1m.

The Chancellor's planned introduction of REITs has prompted a number of property-based companies to look at adopting the new status.

The idea is being examined by groups such as Tesco, the supermarket chain, which holds a large amount of land for future development.

[8 ball] 01/4/2006 18:16

Hi Jeff..

I doubt they will find a deal.

Have held a couple of cash shells in the past Lionheart and Mark Kingsley.
Both had loads of cash and never found a deal, so I will be pleasantly surprised if any of these shells other than LEO trade.

[jeff h] 31/3/2006 19:12

8 ball, have you not read today's RNS on Sagittarius?....still got 6 months
to complete a deal.

[8 ball] 31/3/2006 16:26

Well Sagittarius suspended today..
No news on Taurus yet.

So we just have Leo listed so far, what was the thinking behind these small cash shells?

They never did live up to the magnificent seven?

[Abuse team] 26/3/2006 21:00

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[torabora] 26/3/2006 20:41

See my post on REITS above and you may learn a little gem.Tap in epic code reit

[jeff h] 26/3/2006 20:28

...well yes that is his his normal tactic...but don't rule out a bid....
he's bought quoted companies before today (such as Hanover Intl) and I
seem to recall him having a workspace type business of his own.

On a different issue, I wonder if we will see any deals announced this week
by Sagittarius and Taurus....if not will the shares be suspended or wound
up per the placing document?

[hybrasil] 22/3/2006 09:49

jeff
Petchey I would have thought is unlikely to buy- more likely he will facilitate a sale.

[Abuse team] 21/3/2006 19:06

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[jeff h] 21/3/2006 18:32

...ahhh thought you had some specific information hybrasil.

There was a large trade way above the Offer a few weeks ago (22/2 50k@100p)
thought it might have beeb reported wrong but after yesterday's 25k Buy, then
I reckon somebody got whiff of some news.

I'm surprised they haven't sold Biz to Petchey - they (Lipman's etc) do all the work yet their % holding is not that great...would have thought they'd have used one of their shells as the new business space vehicle.

Perhaps they are restricted due to non-competition guarantees etc when they
floated and raised cash in Biz.

[hybrasil] 21/3/2006 09:17

jeff
first of all this isnt a gogo stock despite its rapid increase in the sp
i believe it represents the lipman family crown jewels so to speak. The shares are now quite tightly held.
It just represents value for money and despite the price rises is still trading at a discount to reported NAV.
Its holding in Biz could rocket in value. Thats now getting so big that it will be bought imo.

[jeff h] 21/3/2006 08:51

Why you think 'quite a bit more to go'?

[hybrasil] 21/3/2006 08:22

see my post of yesterday.
I bought some more today at £1.02

[Abuse team] 20/3/2006 22:25

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[hybrasil] 20/3/2006 22:07

25k at £1.00. An all time high but with imo quite a bit more to go.

[ynotna] 27/2/2006 12:22

Market makers have seen some buying this morning .... new high after a pretty flat 2 months