Watkin Jones Share Discussion Threads

[jonwig] 23/3/2016 18:15

SoundBuy - from the ICG Longbow October 2015 factsheet:

Mansion Group has announced that it is in exclusive discussions to dispose of its entire property portfolio. We await the outcome of these discussions, however, the Group’s loan remains extremely secure and benefits from a period of income protection.

[I'm a holder of LBOW, hence the knowledge!]

[soundbuy] 23/3/2016 14:52

Cheers - hasn't news of that buyer been around a while?

[jonwig] 23/3/2016 14:50

SoundBuy - Mansion is known - loan to ICG Longbow has been repaid and there's a buyer for the assets, unnamed.

Crowded play won't affect builders, but will compress buyers.

[soundbuy] 23/3/2016 14:46

Student letting - crowded play??

This bunch is awaiting liquidation I believe - tasty assets for somebody?

[soundbuy] 23/3/2016 14:45

Perhaps one to watch for now.......

[jonwig] 23/3/2016 14:43

JSW - thanks, but I'm reluctant to compare with housebuiders.

Soundbuy - thanks for the link.

I haven't found any red flags yet, and haven't bought.

[jswjsw] 23/3/2016 11:33

jonwig -

You're right that the yield is the attraction, but there'll be a while to wait for this.

Price/book around 1.56, which is the same as BDEV … but lower than INL, TEF etc

A few uncertainties here, despite the upbeat admission document.
J

[jonwig] 23/3/2016 11:31

CEO interview:

[jonwig] 23/3/2016 09:48

A first look at the prospectus -

• net cash on balance sheet,
• pro forma PER at issue price about 9.6x
• no history of overruns or contract failures (I may have overlooked something),
• 4p dividend proposed for 2016, 6p and progressive after that.

[jonwig] 23/3/2016 07:05

RNS, first day of dealings:

[jonwig] 23/3/2016 07:04

. .


___________________________________

24/03/16 .... IPO: 255m shares in issue.
09/06/16 .... H1 results.
30/06/16 .... paid int div 1.33p
18/01/17 .... FY results.
16/02/17 .... AGM, Manchester
28/02/17 .... paid fin div 2.67p
01/06/17 .... H1 results
___________________________________

Significant Shareholdings (Dec 2017) total 255,268,875 shares:

1992 Trust ............. 38,901,422 15.2 [family benef.]
Will Trust ............. 27,857,985 10.9%[family benef.]
Woodford Inv Mgt ....... 34,048,732 13.3
Octopus Inv ............ 16,332,551. 6.4
Miton Asset Management . 12,500,000. 4.9
Schroder Inv Mgt ....... 11,756,965. 4.6
Seek Ventures (BVI) ..... 9,200,000. 3.6
GLG ..................... 9,000,000. 3.5
BlackRock Inv Mgt ...... ........... below 5.0

Directors direct:
Grenville Turner .......... 340,900. 0.1
Mark Watkin Jones ....... 3,825,000. 1.5
Philip Byrom ............ 3,167,891. 1.2
Simon Laffin .............. 100,000. 0.0