Yorkshire Grp. Share Discussion Threads

[washbrook] 11/7/2003 08:20

This was once a fine company like it's county cricket team.

Although I am a Lancastrian I have had many good arguments at Roses matches with Yorkie at the end of the day we all seem to finish up friends.

I have never owned this stock but they must be a bargain in the long term.
With all their assetts, debt reduced and chemicals wont be depressed for ever.
Euro Color[ I own a pile of these] a fine Lancashire company in Trafford Park looks like it's on the mend, debt has been reduced. I have put yor on my watch list.

[pacman88] 11/7/2003 07:19

Disposal11/07/2003 07:00:03

Yorkshire Group PLC
11 July 2003


PRESS ANNOUNCEMENT

EMBARGOED UNTIL 7:00 AM

11 July 2003

YORKSHIRE GROUP PLC ('YORKSHIRE' OR THE 'COMPANY')

DISPOSAL OF PROPERTY


Yorkshire announces today that its wholly owned subsidiary, Yorkshire Americas
Inc, has completed the sale of its freehold property at Worley Road, Greenville,
South Carolina (the 'Property')(the 'Disposal'). The Disposal forms part of the
Company's previously announced strategy of reducing debt through the pursuit of
asset disposals.

The Property has been sold to Southern Warehouse Associates LLC for a net cash
consideration of US$660,000 (£405,000), which compares to a net book valuation
of £590,000 as at 31 December 2002. Yorkshire has incurred additional costs of
£65,000 in preparing the site for sale. The Property comprises a warehouse and
former dye production facility, both of which are surplus to the Group's
operational requirements.

On completion, the proceeds of the Disposal will be used to reduce Group
indebtedness.


Enquiries:

Yorkshire Group Tel: [phone]

[extrader] 10/7/2003 14:11

Today's Independent says the recent rise follows rumours of property disposals underway in/around Leeds. Can anyone 'up North' confirm ?

[hosede] 10/7/2003 11:29

And again creeping up today - I think there is a realisation that the gloom has been overdone - When world economies start to improve these could go a lot higher.

[gardenboy] 09/7/2003 22:11

nice rise today - any particular reason?

[prinnytoo] 07/7/2003 06:57

All of a sudden 1 million shares traded on Friday. Is the PG man starting to get interested again?

[chocolat] 17/6/2003 22:38

The assets are being sold off as part of their debt reduction policy. Last RNS announcement a couple of days ago stated that their stake in Yorkshire PT, Indonesia has been sold subject to conditions, that sale didn't move the price either.

At the moment it looks like a balancing act to keep the company afloat.

[shawzie] 17/6/2003 21:34

the best way to deal with this company is as an asset stripping job.
shareholders might get some return.
the directors are frittering away the value of Yorkshire and soon there
will be nothing left.

[hosede] 17/6/2003 15:09

So what of todays AGM statement - Yorkshire is still trying or is it Yorkshire is very trying? Not had any effect on the market

[biomax] 11/6/2003 10:02

fillme boots!

[biomax] 09/6/2003 14:48

strong buy!

[biomax] 04/6/2003 00:53

well said!, going up!

[bird of dawning] 02/6/2003 11:43

Biomax - thanks for the valuation; which seems to pan out at 114p post recovery. Perhaps this is the best outcome....a takeover (even at 34p) would probably deny us the balance of 80p per share over the next couple of years. I'm in this for the medium to long term...these boots were made for walking!
Regards

[biomax] 02/6/2003 11:29

fill me boots!

[biomax] 01/6/2003 18:57

strong buy!

[dennis russell] 30/5/2003 17:25

bird of dawning - assume a trade deal, i.e. a buy-out by someone in a related business. Add in some sales recovery to £120M. Allow for earnings @6%, = £7M divided by 52M shares, so about 14p per share. PE @ 8 ==.....! So that's something like the value of this business. Do the directors believe this?

[bird of dawning] 29/5/2003 04:21

Shawzie,
Thanks for your detailed analysis of CEU asset values. I bought into CEU (then known as Friendly Hotels (FRH) when the NAV was £1.36 and the shareprice had diminished to around 16p. Of course hotel premises are unlikely to realise their book value in the general property market (because of adaptations etc)....perhaps this hotel discussion should be continued on the CEU thread?!

What could be the estimated bid price for YOR? If based on its intrinsic value, then taking NTA of 47.7p (advfn data) and subtracting neg net working cap of around 5.3p, then around 42p would appear logical....but very unlikely. As with CEU the assets are probably at least 20% overvalued, leaving a potential bid price of around 34p....dream on! Any further thoughts on this anybody?
Regards

[shawzie] 29/5/2003 00:22

bird of dawning
Thank you for your posting above. I have had a look at CEU and note the following from the Annual Report of the Company :-

Net Asset Value

The net asset value per share (NAV) at 31 December 2001 on a diluted basis was
45p per share. However, following the surrender by Choice Hotels International,
in March 2002, of all their ordinary and preferred shares, the NAV based on the
31 December 2002 balance sheet has increased to £1.36. The ordinary share price
of 33p as at 9 April 2003 represents a discount of 76 % to the Group net asset
value at 31 December 2002.

I intend to take profit on some Yorkshire and invest in CEU but think the ordinary shareholder nav is near 65p/share.

With regard to Springwood (SWO) :-

Property Values

Based on our current trading, the market values of our properties are likely to
be below book value of £75 million. However we believe that the income streams
deriving from those properties are likely to be restored over the longer term as
market economics stabilise and as the development potential of a number of our
properties is realised such that their value in use is at or above their current
book value.

Depends on how much below book value. If the value in property is mainly the cost of fitting-out the premises, then value if sold for change of use could be much less than book value.

But thanks for bringing this one to my attention.

[salthorse] 28/5/2003 20:37

Very high volume today - someone buying big

[tonyleongson] 28/5/2003 10:30

L2 data anyone?
MM bid/offer?

[biomax] 28/5/2003 10:02

strong buy!

[bird of dawning] 28/5/2003 03:16

Shawzie,

This item probably better belongs on the CEU thread.....CEU share price still at a discount of over 400% to NTA (advfn data). Two years ago before its rise from 19p to 44p (when the preferreds were suddenly cancelled at a stroke) it was selling at a 900% discount, albeit with negative working capital.....but who cares at that sort of discount! I've noted that currently Springwood (SWO) is selling at an 800% discount to nav.

YOR shareholder stake building looks more interesting right now.
Regards

[salthorse] 28/5/2003 00:56

It would seem so Biomax, but why? What has changed today from last month?