St.modwen Properties Share Discussion Threads

[liverpoolunity] 19/12/2003 23:14

Just noticed an odd thing all the selling started at 3o'clock this afernoon and carried on for just over an hour.

[liverpoolunity] 19/12/2003 23:05

The last time we had a fall like this was in March but picked up again. Anyone with ideas about this little stumble because our shareclub might well sell and bank profits on Monday and it might be only MMs shaking the tree and nothing serious.

[capercaillie] 25/11/2003 19:44

I also took some profits on a tranche pre £2.00. Kicking myself now but that's the nature of selling a part holding you win and lose both ways.

[boonyed] 25/11/2003 19:30

I think I've mentioned on here before, I am a member of a share/investment club, and we hold this company in our portfolio. We run a pretty strict stop loss system and this baby has hit our 75% profit margin.

We now sell enough shares to recoup the initial investment, and the rest rides on a 10% stop loss.

It's a shame to sell but it's essential to safeguard some of the profit this company has produced.

Don't worry we only bought £1k worth so it shouldn't have much impact on the price.

BOON

[morose] 25/11/2003 11:20

long may it continue, need a good winner

[capercaillie] 25/11/2003 10:36

Something happening? Up 9.5p in no time.

[capercaillie] 17/11/2003 20:24

Yes another good rise in a falling market. I keep wondering where the ceiling is with this stock.

[boonyed] 17/11/2003 19:29

Perhaps that's the reason for todays rise!!!!

BOON



Brighton and Hove city councillors have given the green light to controversial plans to restore Brighton's historic West Pier.

After years of delays, the pier's owners and developers St Modwens can finally begin work on £30m plans to return the Grade I listed Victorian structure to its Twenties' heyday.

But despite finally getting the go-ahead, the future of one of the country's most famous seaside landmarks remains far from certain.

Having overcome fierce opposition to plans for a large shoreline development which is an integral part of the restoration, a huge fire ripped through the historic pavilion in March, followed by an even more devastating blaze in May which left the pier little more than a charred skeleton.

The latest arson attack is the fourth disaster to hit the beleaguered pier in an extraordinary few months which saw the Victorian landmark brought to the brink of collapse by winter storms.

And to cloud matters further, the European Court has still to rule on a legal challenge by the owners of the rival Palace Pier to a multi-million pound lottery grant to fund the restoration project.

[capercaillie] 16/11/2003 22:41

Any news on Brighton Pier? I believe that they are doing the rebuild.

[mrbt] 09/11/2003 23:09

Sale of Pubmaster is more good news as they have a 5% stake.

[capercaillie] 07/11/2003 23:43

These keep pushing ahead. Im wondering where the top is. Sold a quarter of my holding at sub £2.00 taking some profit but they have kept the momentum. Im surprised that there is such little coverage considering their performance.

[boonyed] 24/9/2003 13:04

Rob

Payed 144p, pretty good return so far, but still looking for more!

Also spotted this today, it's a couple of days old, but good news never the less.

22 September 2003

St. Modwen Properties PLC

St. Modwen Wins EPRA Best Performer Award 2002

St. Modwen Properties PLC, the regeneration specialist, has been named "Best
Performer 2002" at the fourth annual conference of the European Public Real
Estate Association (EPRA).

St. Modwen was placed ahead of its peer group of leading European real estate
companies, in recognition of its outstanding performance, good active management
and transparency for investors.

The Award criteria include:

- Best absolute total return in 2002
- Consistent out-performance versus the country index, for the past
three years
- Qualitative criteria such as corporate governance, liquidity and
transparency are also taken into account

St. Modwen has shown a total return of over 62% in 2002 and has outperformed the
EPRA UK benchmark for three consecutive years in a row. The Company has a long
term objective of doubling the net worth of the Company every five years, and is
anticipating record full year results for an eleventh consecutive year.

Anthony, Glossop, Deputy Chairman & Chief Executive of St. Modwen, commented:

"We are delighted to have been awarded this prestigious accolade in recognition
of our strong track record. We look forward to challenging for the award in
future years."

For further information please contact:

St. Modwen Properties PLC 0121 456 2800
Anthony Glossop, Deputy Chairman & Chief Executive www.stmodwen.co.uk

Weber Shandwick Square Mile
Reg Hoare/Katie Hunt 0207 067 7000

Notes to Editors:

The European Public Real Estate Association (EPRA) is a non-profit association
primarily focused on promoting the European quoted real estate sector. Members
are real estate companies, investment banks, pension funds, lawyers, accountants
and business schools.

[mrbt] 17/9/2003 23:08

wonder if I should invest in Chepstow. Have great faith in Sir Stanley.

[boxster rob] 17/9/2003 16:25

Hi Boon,
>>>
Bob, it must be a long time since you bought, if you don't pay more than £1 for SMP shares!

Yep, the most recent purchases were in December 2000 and just after Sept 11 2001, great timing, have a look at the price graph :-) I've had a holding in SMP for 17 years!

[kjoco] 17/9/2003 09:43

St. Modwen Sells Northern Racing Stake For GBP12M

17 September 2003
LONDON -(Dow Jones)- St. Modwen Properties, the regeneration specialist, has agreed to sell its 35% shareholding in Northern Racing Limited to The Chepstow Racecourse for a consideration of GBP12 million to be satisfied by the issue of new ordinary shares in Chepstow.

This will be achieved by the sale to Chepstow of 100% of Northern through the simultaneous acquisition by Chepstow of both the Company's shares in Northern and, by means of the acquisition of Stanley Clarke Leisure Limited, Sir Stanley Clarke's 65% shareholding.

Following the transaction, the Company will hold 27.2% of Chepstow. Sir Stanley Clarke's shareholding after the Disposal will be 57%. The transaction is conditional upon approval by the shareholders of both the Company and Chepstow, and an Extraordinary General Meeting of the Company will be held on 6 October 2003.

At the quoted mid-market price of 125 pence per Chepstow share on 15 September 2003, the Company's shareholding in Northern has a value of GBP12 million.

The carrying value of the investment as at 31 July 2003 was GBP7.5 million. In accordance with UITF 31, the 27.2% investment in Chepstow cannot be marked to market value, and hence the GBP4.5 million uplift that would otherwise arise on such a revaluation will remain unrecognised unless the Company disposes of some or all of the investment in Chepstow

The Company has agreed that it will not, save in certain limited circumstances, for a period of twelve months from the date of admission of the new Chepstow shares, dispose of any of its shareholding. The disposal is expected to be completed on 13 October 2003, and dealings in the new Chepstow shares are expected to commence on AIM on 13 October 2003.

Anthony Glossop, Deputy Chairman & Chief Executive of St Modwen, said: "We believe that, as a result of this transaction, the business's prospects will be enhanced to the benefit of all shareholders."

[boonyed] 17/9/2003 09:01

The rise yesterday could be, in part, due to a story in my local paper the other night. This news will hopefully bring more companies onto the Goodyear site, generating more revenue.

Bob, it must be a long time since you bought, if you don't pay more than £1 for SMP shares!

Taken from Express and Star 15th September:

The office market in Wolverhampton has had its biggest boost in years with the news that the former Goodyear GB headquarters is to become the home to a finance company, creating 120 new jobs.

last year the US owned tyre manufacturing co. sold its 88.6 acre site to property giants St Modwen and is now renting it back. Vast areas of the site are redundant following thousands of job losses over the past 10 years.

Mike Murrey of St Modwen Properties said "This is very good news. a great boost to the area and supports the partnership plans for the overall regenaration of the unused part of the site".

BOON

[boxster rob] 08/9/2003 23:09

morose. I wouldn't call a 5p rise a sudden surge. A large proportion of the shares in St Modwen are held by Stan Clark and Jim Leaversly and their families so comparitively small trades can move the price.

I've been a holder since '86, topping up my holding regularly upon weakness whilst benefiting from a generous dividend. I've never paid nore than £1

I consider St Modwen to be a key long term holding but I'm not a buyer at this level. In the same way that they can rise 2.5% in one day they can also fall significantly.

An excellent company. Buy on weakness IMHO.

[rogerbridge] 08/9/2003 22:28

Just a bit of catching up and rightly so. Property has missed out on most of the recent action and this is one of the best run companies in the sector. More to come imho.

[morose] 08/9/2003 13:45

Hello what's going on here?

Sudden surge going on.

[piceman] 27/8/2003 15:25

SMP has outperformed well and the driving share price at such a historic premium to NAV shows quality. It may be small cap fund managers book building on expectations of entry to the 350. In respect of the 35% stake in Nthn Racing, I fully expect this will be retained within the company on the balance sheet. The estimated value is in-line with the current book value although we would hope for more closer to the float time. Next year for the group should be interesting, will be keeping a close eye.

[capercaillie] 19/8/2003 08:50

I sold a tranche of these at £1.96 taking some profits since when they have pushed on again. Any ideas where the top is on this one?

[simonevans] 17/8/2003 18:01

Northern Racing to be floated in today's newspapers. I wonder whether the St. Modwen shares will be demerged to shareholders? St.Modwen own 35%.

[boonyed] 22/7/2003 22:35

Quite a bit of press coverage following yesterdays news.

The first one, from the Independant rates SMP as a HOLD.



An excellent up beat piece in the Telegragh, again rates them as a HOLD.



I saved the best till almost last, the Times makes reference to the fact that the company trades at a premium to its NAV, as do the other write ups, but this time they say that prospective investors should not let this and the double digit premium deter them. BUY



There is also breaking news in my local newspaper as SMP have been given the go ahead for the £100m redevelopment of Dudley zoo and castle.



BOON

[capercaillie] 22/7/2003 11:18

Good write ups in all broadsheets today. They keep pushing the "doubling of the value of the company every 5 years" angle, which is an aggressive target.

[jeffian] 22/7/2003 09:21

Not sure it's a question of 'more excitement', BT. It's a very well-run property company which has consistently delivered good results but at 190p isn't that in the price? Historic PER of 11.11 likely to fall to around 10 this year; divi yield 3%; unusually for a property company, it trades at a premium to NAV. As the article in post 25 above says:"This is not a group where anyone will pick up a bargain."

It's a 'strong hold' or 'buy on weakness' IMHO, but 'excitement'? I don't think so!

Regards, Ian