Hardboy
31 Jan 2018
RNS The latest RNS suggests Sammy Lee does not want his holding diluting any further. I wish I understood the relationship between the BoD & Mr Lee.
Hardboy
11 Dec 2017
Re: Placing Looks like Norges Bank took about half the placing.
Hardboy
06 Dec 2017
Placing Came as a bit of a surprise. I wonder if this is partly done to dilute Sammy Lee's holding.Interesting strategy: which could work well, or could backfire - with uncertainty over Brexit & London's future as a place of business, if the future is good this could be a very good time to be buying commercial property there; on the other hand it could backfire. Either way they are strengthening their portfolio in the heart of the greatest city in the world. Surely with London's heritage and culture it will continue to attract tourists which many of the properties they own ultimately serve - shops, restaurants & bars.On a glance through it seems the placing will not be open to Private Investors - BOOOOOOOO - but it makes sense from a business point of view: the placing becomes simpler and therefore cheaper.
Hardboy
28 Nov 2017
Re: Finals With an NAV of 949, the current share price values the income portion of the business at less than 50p; and with an EPS of 108, that looks very cheap. Of course this is a problem of looking at different sectors. In most businesses the earnings is the key part of its valuation, but with property companies it's the book value.
Hardboy
28 Nov 2017
Finals Had a quick skip through, and it's always difficult when there are 2 sets of figures, sometimes with seemingly no correlation to each other, but basically turnover is up, profit is up, the size of the estate is up, dividend is up, NAV is up, vacancies are low, demand is high, so it looks OK. Of course debt is also up; but not unusual in a property company.No mention (on skip through) of the acquisitive Mr Lee, but no need really.
Hardboy
24 Nov 2017
Re: Sam Lee It will be interesting to see what the finals hold next week.
forddrive
24 Nov 2017
Re: Sam Lee My guess is that there will eventually be a takeover, but I don't expect a big premium.
Hardboy
23 Nov 2017
Re: Sam Lee Now over 25%. The last 1% took him 3.5 weeks.I'm not sure if this share price is being kept inflated because of his buying, or whether it is a genuine price (I'm comfortable with it on basics) and we do not know what his intentions are. If he wants to own the company it will be the slowest take over in history. Besides, he is a very rich man, but can he actually afford to buy the remaining shares?
Hardboy
27 Oct 2017
Re: Sam Lee Sam Lee seems patient too. He's now up to 24% holding, and seems to have accelerated - having gone from 23% to 24% in just over 3 weeks. The previous 1% steps had been several months apart..I wish the BoD would tell us what his ambitions are.
Hardboy
04 Oct 2017
Re: Over £10 and then ! Me & my big mouth!! I will just think my thoughts in future
forddrive
04 Oct 2017
Re: Over £10 and then ! Well I presume that there was a seller, but I don't know who or why. We hold.
Dubliner2
04 Oct 2017
Over £10 and then ! Why the slippage ?
Hardboy
29 Sep 2017
Resistance & Support I'm touching a lot of wood when I make this observation. It took a long time for the sp to get above £10; despite coming very close several times over recent months, but once over that barrier, it seems to be establishing itself there. From memory it was similar with other round pounds.
Hardboy
11 Sep 2017
Resistance I'm not a great believer in charts, but I do recognised support and resistance levels. People often set automatic trades at round numbers and these often form the support or resistance level. The share price here has been trying to get above £10 for almost 30 months, now it's got there, maybe it will be onward and upward. I do hope so.
Hardboy
30 Aug 2017
Re: Deafening silence Some time ago I actually wrote to the company secretary - saying I was a shareholder concerned about the stake building of Sam Lee - could they give us some clarification about the board's thoughts about this and his aim. I did not even get the courtesy of an acknowledgement.
