Urban&civic Share Discussion Threads

[daneswooddynamo] 22/5/2021 14:18

Totally agree. Made a few hundred k but could have been several hundred more in time , now going to be in the pockets of the Wellcome trust and the directors

[spectoacc] 07/5/2021 07:26

Not exactly analogous, but pretty similar - Blackstone bid for SMP today, 23.8% premium to EPRA NAV.

Took the money, but still think we had our pockets picked at UANC.

[shaker44] 26/1/2021 12:23

Thanks. Still seems slow but no doubt they benefit from Holding our cash.

[call-logger] 26/1/2021 12:06

Officially 5th Feb at the latest


Settlement of the consideration to which any Scheme Shareholder is entitled will be effected by way of the despatch of cheques or the crediting of CREST accounts (for Scheme Shareholders holding Scheme Shares in certificated form and in uncertificated form, respectively) as soon as practicable and in any event not later than 14 days after today's date.


(Today being the RNS of Jan 21st)

[daneswooddynamo] 26/1/2021 09:05

Seemed to be something suggesting most accounts credited by end of this week but not sure

[shaker44] 26/1/2021 08:48

Any one know when proceeds will be credited? Docs suggest before 14/2 but that seem a long wait

[daneswooddynamo] 24/12/2020 10:43

Zero given scheme effective

[shaker44] 24/12/2020 10:26

Still hoping for more but low odds now

[spectoacc] 24/12/2020 09:47

Sold mine at £3.44, rather than waiting until Feb for the proceeds. Well done those who sold out higher.

[daneswooddynamo] 14/12/2020 16:52

I think they have timed it very nicely, announced before vaccine news and in the run up to the will they won’t they on the brexit deal.

Meanwhile the chronic UK housing shortage makes UANC a great vehicle for the medium term. Still, there are plenty of other UK housing related stocks to recycle into which have further to go imo

[spectoacc] 14/12/2020 16:47

Agreed, & large number of shares were changing hands, implying confidence in a counter that never came.

[daneswooddynamo] 14/12/2020 16:38

Complete surrender, still think this has gone far too cheaply. I accounted for over 50 percent of the votes against!

[spectoacc] 14/12/2020 16:26

Overwhelmingly For - presume that's it now. Will look forward to the cash.

[pete_bane] 04/12/2020 08:12

But I thought you had a UANC every day, specto, usually by the fish counter in Tesco!

Like you, I say sod those lockdown regulations.

Covid? PAH!

[spectoacc] 03/12/2020 19:14

Couldn't see UANC in the IC - they had 3 bids listed, none of them ours.

[top_cat] 30/11/2020 10:21

What are Chronic Investor and Shares magazines advising on this bid?

[daneswooddynamo] 20/11/2020 10:04

I don’t blame the management entirely. In an uncertain world they have safeguarded their personal investments and will continue under new management. What is frustrating is that the stock had not recovered in line with other sector participants mainly from what I can see due to one largeish institutional holder baling out around 200-220 and creating a nasty overhang. Why I have no idea. But it gave the opportunity to say here is great news with a 60 percent premium. If we had been trading more around 250-270 say which would not have been unreasonable in the context of others in the sector an offer of 345 would not have looked particularly exciting.

I would have liked to see 375/80 and still think there is a chance of that

[sirrux] 20/11/2020 08:59

I presume (without reading the details) that the management will be looked after on this deal, retain jobs etc. They seem very keen on it. I do think, if it's in play, due to the recent hedge fund holdings that a counter offer may be made, so we could go higher. Certainly premiums for quality UK builders (and lack of quality available is an issue) has gone up lately and looks likely to continue.

[daneswooddynamo] 20/11/2020 08:48

There seem to be quite a lot of new holders particularly hedgies who are speculating exactly that and as I said we shall see what transpires

[spectoacc] 20/11/2020 08:41

That sort of thing! But again, note how the real NAV is what used to get promoted in the RNS's - now it's the discounted NAV.

At the very least, there should be a premium for control, a premium for future growth, and a premium for the gap to real NAV, since "large site discount" is little more than an accounting number.

I don't expect them to pay 485p - but eg 400p would have been more likely.

[shaker44] 20/11/2020 08:33

So the benefit of large site discount accrues to the new owner instead of current shareholders-- and the directors remain in place to share the spoils??

[peter27] 20/11/2020 08:10

As I understand it, the whole point of a large site discount is that it's too big to sell at one go. But this is exactly what they are doing without explaining why the discount is still applied. So I will be voting against.

[daneswooddynamo] 20/11/2020 08:04

There is enough in the statement to suggest that they know it is not a wave through deal imo

[spectoacc] 20/11/2020 07:56

Been a bit disappointed no one else has come forward/no obvious shareholder objections.

Once again they've switched from emphasising actual NAV (485p) to with-large-site-discount NAV (343p), in order to say the offer is in "full recognition" of it.

Full recognition would be nearer 485p.