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Parent company is WELLESLEY GROUP INVESTORS LIMITED
Products/current businesses:
Wellesley & Co Ltd
An investment platform.
Investing through the platform allows customers to invest in Wellesley bonds that are listed on Euronext Dublin.
Wellesley Finance Plc
A specialist SME property development finance lender.
Wellesley Secured
Finance Plc
Issues Wellesley Property Bonds. These bonds are used to acquire loans originated by Wellesley Finance.
And there's the holdings update I expected.
I'm hopeful we'll have an announcement for it this afternoon.
I've emailed the company about it, obviously if it is anything of note they won't be able to tell me anything, but if it is a clerical thing they will be allowed to disclose that as it won't be price sensitive.
So if I get no information it could mean its good, and if I get information then at least we'll know. That's the idea anyway.
the purchaser will need to be disclosed soon enough - feels like something has to be going on in the background. but then again the share price isn't going silly and this is 1pm after all. wait and see i suppose
It would be a good time for someone to make a move!
Can't see any LTHs winning if they do though as the price is so low.
I'm surprised it didn't push the price on Friday, so I'm guessing it was partially unexpected which is why we've had the rise today instead.
that's about 20% of shares in issue ... take over anyone??
Did anyone see that 17m buy on Friday after close. £4 million. That's some confidence ????
Nice coverage on their news today - https://bit.ly/3bdTyyd
Paul
Ismalia, I concur. Also he was the only one left with industry operational experience and thus no doubt had the skill set to add true value at this pressing time. From what I can see, with his departure & Mr Nolan now gone, I see no existing board experience that has weathered a storm in this sector..
Bad move, ER was good for 1pm. Down we go.
Does today’s RNS paint a long term picture ? Shedding of 1/3 of the op board is a pretty big decision. Not waiting until the current crisis is assessed. I guess there’s a ‘no growth’ expectation ahead. Maybe a profit warning !?
Nice to see some form of recovery going on here, unlikely to be sustained but positive that it isn't dead and buried.
late reply, but i dont think this site can handle the traffic at mo, im having similar probs with others. good luck.
Strange one that.
I don’t think you’ll get much of a response on this stock. They seem to have all disappeared since the SP/market crashed.
Can anyone tell me why this is showing as 28.5??
Meant - in for the long haul..
I agree, this holding has been in the long haul and collect a dividend. For some reason, the regular people posting about this share seem to have disappeared ??
Probably no choice atm. However, a lot of investors of this stock have been sticking with it for the divi payment as it’s value has been in decline over the last few years. Probably stuck with it now. Or cut your losses and recoup elsewhere. There’s some bargains out there.
The right thing to do, no?
Thoughts on today’s RNS ?
Having spoke to a few other finance houses, it’s a bit of Armageddon out there atm. No one wants to pay!
Doubt writing new biz will be on the agenda.
Time to possibly cut costs according (staff etc) and batten down the hatches?
This is now acid-test time and one out the blue.
Questions;
1pm will see a large increase in payment holiday requests from lessees - do they have the cash flow and reserves to support this period ?
Their funders (block discounters etc) may temporarily relax covenants to support such requests, but they won’t weaken their overall lending position. I doubt lending more at this stage is an option and therefore unused facilities will not be important.
Their loan book is largely aimed at pubs, restaurants etc and may therefore only be secured against PGs (worrying) Is this secure enough ?
If the business is robust and well managed (they keep stating that they’ve been in a stage of consolidation,) then they may survive unscathed.
As you state JS, make your own opinion.
Most obv: credit quality of investees
Also liquidity (will providers of finance reduce lines)
===> almighty credit crunch????
DYOR, all
don't rely on anonymous poster(s)