All those that held the shares would have benefited from the divi,so good for all shareholders-not just the major holders.Also,they are taking the Northacre brand global,which takes the Company in whole new direction...
Yes, I realise that all holders got the dividend, but the AD folks knew they could knock a 40p divi out to pay back part of the 90p sp! Wish I could do that! I take your point about connections though. I'm fully committed elsewhere, but GL anyway! You have had a decent rise today. :)
The 40p dividend went to any shareholder-who held the shares 10July 2013-not only the Directors.Your missing something:To buy "prime" London developments you have to make the right conncetions.Lot`s of construction firms wish to get in.I work as a foreman-i know about the Industry.Also,the 35% is on any profits earned-so still a profit.Northacre is likely to payout more dividends in the future...I would think,also at least worth over one pound a share.So room to move here...
The new directors bought the last lot of shares at 96p, as far as I can see. They had obviously been building up a stake beforehand. Now they paid a dividend of 40p, most of which went to their 66% (your figure) holding. Now they will pay them £1.2m, PLUS 35% of any profit NTA make with their connections. Well, maybe their connections WILL make a net gain for NTA, but it looks like a gin-palace fund to me. No offence meant. GL
Hi ROSH2009. I have just sold a further tranche from those I held since 2005 and will await the mark down, if any, before churning profits. Buy on weakness but sell on rise but churn profits when presented. With bundles of cash now in the bank Northacre is well positioned to take asdvantage of a bombed out property sector and presents a cash rich target for any investor with deep pockets to step in and advance Northacres assets. Northacre has come through the property market malaise relatively unscathed and has won and earned the "city's" and market respect.
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