Tvc Hldgs Share Discussion Threads

[lbo] 31/1/2010 21:12

Pat McCann's Maldron hotel group posted a loss of €1.5m in its first full year of trading in 2008.

According to recently filed accounts, Maldron said it had a difficult 2009 and it was uncertain about the outlook for 2010 because of the fall-off in the number of tourists. Revenue in 2008 totalled just under €38m.

McCann, the former boss of Jurys Doyle, bought the Comfort and Quality Inn hotels from developer Paddy Kelly in 2007



Maldron Hotels Write-down: 95 per cent (by Davy Stockbrokers)

As part of an aggressive revaluation of its investment property portfolio, Davy Stockbrokers last year wrote down its clients' stake in the former Quality Hotel chain by 95 per cent.

Davy clients participated alongside TVC Holdings in the €41.5 million buyout of the former Quality Hotels in 2007, taking a 21.5 per cent stake in the business.

The chain of 11 hotels has since been rebranded as the Maldron hotels.

At the time of the deal, Davy told its clients that the business would be worth €100 million by the end of 2012.

[lbo] 04/12/2009 12:56

Problem is they are still burning cash of over €1m a year. Better off buying shares in Norkom directly IMHO but DYOR

[djderry] 28/7/2009 19:50

Share price performance and company performance often diverge over long periods.

[lbo] 24/7/2009 00:11

In 2007



"The shares were trading at €1.55 late last week"

[djderry] 23/7/2009 20:25

Selective quotation which will mislead the unwary.TVCH were later valued at 150% of their original market cap.As an investor, one realises that the market often gets it very wrong indeed and that companies can sell for way under their true value for long periods of time.I am completely comfortable with that.

[lbo] 30/6/2009 23:01

Trinity flotation document bares fund wounds
Sunday, July 15, 2007


Trinity Venture Capital, which raised €50 million in a flotation Dublin and London last week, wrote off half the value of its last fund during the technology downturn

[lbo] 30/6/2009 23:00

Not long ago Boundary Capital had assets



Boundary Capital has announced (June 30th) its results for the year ended
December 2008. Net asset value (NAV) per share was reported at minus €0.12
versus a positive €0.91 per share the previous year, representing a €1.03 loss in the year. Unquoted investments revaluation decreased the NAV by €0.76 per share (i.e. Arnotts, CJ Fallon, ODC and RQB). The mark-to-market of the group's quoted investments in Veris and Siteserv decreased the NAV by €0.11 per share.

[hermana] 30/6/2009 22:42

DJ,mishmash of underperforming cos with sfa synergy.

[djderry] 30/6/2009 22:39

LBO,at the risk of repeating myself,my contention is that the assets which are listed are substantially undervalued.The discount,taking into account the recession and the cyclical nature of the business seems to me to be unwarranted.Add in the cash-at -bank and I'm interested.Granted,the unlisted holdings,by their very nature,are more difficult to value.However,the gain on the disposal I mentioned gives me heart.Your use of the adjective describing the assets is,I would contend,invalid.

[lbo] 30/6/2009 21:01

The new Setanta Ireland company will also be targeting substantial fresh investment and has already dispatched fresh business plans to UPC owner Liberty Global as well as two Irish venture capital companies, informed sources said last night.

[hermana] 25/6/2009 00:10

LBo,would rather stay in an Insurance co. doorway than de stinking Maldron.

[djderry] 25/6/2009 00:07

All operating expenses came to 3.8 million euro.(If you add in the 2 million gain on disposals and the 600 grand of dividends, I think my statement re the co 'not eating up cash' is valid.

[lbo] 22/6/2009 14:20

Davy writes down Quality Hotel stake by 95%



Davy clients participated alongside TVC Holdings in the €41.5 million buyout of the former Quality Hotels in 2007, taking a 21.5 per cent stake in the business. The chain of 11 hotels has since been rebranded as the Maldron hotels.

At the time of the hotel deal, Davy told its clients that the business would be worth €100 million by the end of 2012.

[lbo] 22/6/2009 12:50

AIB and BoI reduce shareholdings in TVC Holdings

[hermana] 19/6/2009 12:37

LBO,this lots have picked a lot of fleabitten cos. in last 2 years.

[lbo] 19/6/2009 12:33

"It's not as if the co. is eating up cash" You obviously missed the operating expenses! And a "paper loss" on investments bought at peak prices and it could be years before you see them "go back up again you'll have a 'gain'!

As they say you are investing in the investment manager not just the investments and if these guys were shrewd they would have been buying at the bottom not the top!

[djderry] 17/6/2009 21:02

But we've already said that:It's still at a significant discount.Anyway the 66million euro 'loss' is a paper loss.The quoted share prices went down.When they go back up again you'll have a 'gain'.It's not as if the co. is eating up cash: It's an investment vehicle.

[craffert] 11/6/2009 10:27

LBO do you think they are good value at these prices? The discount to NAV is really saying that the cash will be eaten up supporting their investee businesses in Ireland (which I tend to agree with). However, Norkom is a good company and UTV will be one of the first to pick up if the recession ends soon. My gut feel tells me that TVCH share price could double very quickly...and at least we don't have the banks beating down their door looking for debt repayment. What is your view on it as an investment at this price?

[lbo] 10/6/2009 21:08

TVC's losses widen after revaluations

[djderry] 10/6/2009 20:40

It looks to be at a very attractive price.They bought their quoted investments at fairly knock down prices and they've continued to plunge.Now,if that weren't enough,the share price is at a healthy discount to its NAV,whether you take cash -at- bank into account or not.I only took pass maths at school but will they have a tax loss for future year's profits.Looking at the results I just want to get more information regarding director's fees and the no. of employees,etc,before taking the plunge.

[lbo] 16/12/2008 14:43

Small business and hotels are being hit hard by the credit squeeze and many will go to the wall unless the banks open for business and loosen up credit, an Oireachtas Committee was told today.

[lbo] 12/11/2008 10:44

TVC writes down its holdings by E28m