The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Short reduced by 0.11%?
The last trade seems a buy to me.
I think that the price has been deliberately kept down for the last few days and at the end of day you will find more buys than sells. What is the agenda behind scene?
SWLC ... you're right ... I should perhaps read more carefully and think more before I post! The voting percentage has remained the same, so as IAPR suggests, they've 'loaned' the shares (for a consideration of course!) which implies that some one is taking up or increasing a short position. Which in turn adds weight to _your_ original idea that the RNS note explains the decrease in the SP over the last few days. So apologies! Collectively though I think we got to a better understanding of what was going on there.
As for owning 2% ... as you say, if only! ... sounds like IAPR and I are kindred spirits in the sense of being income driven investors. Which of course meant that the old GFRD was attractive, post split it's not so sure yet how it's all going to work out for us!
Mike
So has the TR1 kept the SP down today?
Correction... I held 0.2% in Try Group not 2% (if only!!)
The TR-1 RNS issued by Norges Bank today suggests that yesterday they loaned out an extra 121,182 shares of their disclosable 3.17% holding. They presumably loaned these shares to Samson Rock Capital who are currently shorting Galliford, but I don't know.
Thanks Chunky and Mike for your numbers about the forthcoming interim dividend.
I'm encouraged by these as I have a fairly large holding in GFRD from my inherited 2% holding in Try Group plc many moons ago. I have come to rely on the dividend income especially since there will be no income from my newly-acquired Bovis/Vistry holding until late 2020!!
Good luck to all.
Lets hope so thanks for your input.
Sorry Mike, I did not look carefully, however it shows the total voting right remains the same as 3.17%.
SWLC ... you need to read and think a bit more before writing ... the holding RNS was for selling, it was for a total of 0.1% of the shares, ie 110,000 shares over a period of time in a daily volume of 2-4,000,000 shares. I hardly think that warrants your interpretation.
Chunky, thanks for the numbers, really helps to put a handle on what's going on and how the dividend might pan out. My interpretation of the "3x" is that the BoD were expressing their desire to 'rebase' the dividend from the 2x sort of figure that they'd had in the past. By any measure 3x seems rather conservative ... I'm expecting a dividend that is somewhat to the bottom of the range so that they have room to pat themselves on the back in subsequent years! (Based on a 53m profit it could be as low as 16p to give them a 3x figure.) Let's hope I'm wrong,!
Mike
Holding Rns out, that explained why the price has kept dropping in the last a few days to enable the big institution to buy more shares at cheap. The only way is up now.
From what I can find we have 92.9 m profit to for 4 months to 31/10/2019, 75 m profit on sale per prospectus and write off of 61 m. To add to this we should have a further 2 months profits from the old business sold and a profit or loss from the construction and remainder. We should get a dividend in line with the old Galliford Try company business. Even if we write off the whole of the Claims there is still a decent profit to pay a good dividend. I calculate min profit of 52.9 m with dividend between 22.5p / 34p only question is 3 x cover? Anyone got any further thoughts?
ok thanks, I'm certainly tempted
Peel Hunt are the only brokers commenting at the moment and they rate it as a Buy, but without target price.
I can't say if it's a good buy or not, but based on the order book, the fact that GFRD is virtually debt free and has a good cash reserve, I will be buying more as and when funds allow.
Hi Gold AnOil, any idea what the brokers are saying about a future SP, why is this a good buy?
Correction:
Dividend will be announced with the half year results - 12th March.