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god why is this thread so thin: there's an update due monday any idea what to expect?
i amin the red- i am mystified by this company yet buit by a family, nice div and disttiguishible from the other housbuilders - so any one can enlighten me?
The recovery here should be as good as the other builders imv - but that has not yet happened. Looking for above £7.
Confident outlook and lets hope the sp also returns to pre covid levels!
I hope you don't mind me gatecrashing the BB, but I do think that this open letter is well worth signing. See what you think and all the very best to everyone.
To the boards and management teams of the UK’s listed companies.
COVID-19 is leading to a large wave of recapitalisations for UK PLCs. We are concerned that UK retail investors are not receiving their entitlements to participate in these often discounted fundraisings.
Here are the facts:
The FCA’s welcome stance on pre-emption rules has enabled companies to issue up to 20% of their share capital quickly and without a rights offering to broader shareholders.
UK PLCs are now issuing significant amounts of shares directly to institutional investors and typically at discounts to already depressed share prices. As of the date of this letter, this includes ASOS PLC, Hays PLC, Hotel Chocolat Group PLC, Informa PLC, Joules PLC, MJ Gleeson, SSP PLC and WH Smith PLC.
The FCA Statement of Policy stresses the importance of “retaining an appropriate degree of investor protection” and that “Issuers can play an important role in delivering ‘soft pre-emption’ in the placings”
While we recognise the need for businesses to raise equity capital in an expedited fashion, we are concerned that no protections are being afforded to retail investors.
Technology exists today to run a retail offer as part of an accelerated fundraise, with no delay to the issuance timeline or impact on pricing. www.primarybid.com, for example, has partnered with London Stock Exchange to do exactly this (at no cost to individual investors).
We encourage UK PLCs and their boards to protect individual shareholders and employees by respecting their rights to participate alongside the institutional investors, management teams and board members.
This is more than just good governance
Retail investors are showing unprecedented support for UK PLCs. In recent weeks, they represented over 20% of the volume on the FTSE All Share with 60-74% of this volume being BUY orders. UK stockbroking platforms are reporting over three-fold increases in new account openings. They can and should represent a powerful source of funds for listed companies.  
This letter requests the following calls to action:
UK PLCs consider the FCA guidance by “exercising their right to be consulted on, and to direct, bookrunners’ allocation policies” and mandate retail tranches as part of a fundraise
All deal advisors ensure retail investors are part of their thinking when structuring a fundraise
Retail investor industry bodies continue working with The Pre-Emption Group (PEG) and the Association for Financial Markets in Europe (AFME) to ensure that best-practice guidance makes reference to the importance of retail involvement in accelerated capital raisings.”
We urge anyone who has sympathy with our views to sign this open letter and draw attention to this important issue.
So the luck directors and others will get more shares at 33% discount - outrageous - almost robbery imv.
why the big fall here?
Ramping up housing completions to 2,000 a year by 2022 remains a top priority for MJ Gleeson (GLE), said chief executive James Thomson, but the housebuilder delayed opening new sites during the first half to tighten-up the pre-start process. “Sometimes the focus on the building can begin to slip,” said Mr Thomson. However, management still expects to open a further seven sites by June.
Lower active sites did not hinder completions during the first half, which rose 17 per cent to 811 units, although selling a greater proportion of two-bed homes meant Gleeson Homes’ operating margin declined 90 basis points to 15.1 per cent.
Three strategic site sales that were expected to complete in December were delayed due to the timing of the general election, although all are expected to complete by the end of February. That lack of sales was responsible for pulling down the group’s pre-tax profits during the period and meant the return on capital employed declined to 19.1 per cent, from 29.5 per cent in the prior year.
House broker Liberum forecasts adjusted pre-tax profits of £44.5m and EPS of 65.7p for December 2020, rising to £48.5m and 71.1p in 2021.
Management expects gross margins to remain around 30 per cent and said the group is on track to hit its home completions target. The shares have rebounded since December and trade at 15 times forward earnings or 2.2 times forecast net asset value at the June 2020 year-end. That is a premium worth paying for a housebuilder whose low cost focus has managed to broadly maintain margins and completions. Buy.
Last IC view: Buy, 727p, 8 Jan 2020
Outlook in line.
SP opened -4% . Now +0.8%
I remain invested because of the Tory plan to invest and regenerate the northern areas.
If the Government is about to turn on the taps of public expenditure, then Gleeson should be a beneficiary. As a North of England specialist housebuilder focusing on the lower-priced end of the market coupled with its expertise in urban regeneration, it stands to benefit. I would also suggest that there is a political drive to rejuvenate these areas - to some degree, voters in these left-behind places have propelled the UK out of the EU. There seems to be an expectation that the Government has to do something about what might be described as Northern working-class alienation. Building much-needed housing appears to be a good idea and that can only be delivered through companies such as Gleeson. The Government cannot import these homes and it has no capacity to build them - the only viable alternative is the private sector.
The big downside seems to be the economic cycle; we are due a recession and traditionally the housebuilding sector gets hit badly. For the moment, Gleeson appears to be in a strong position but for how long I am unsure. I remain invested.
Big moves since the Tory party got their majority.
Why is this chap not moving in a +ve housebuilders, Brexit may happen direction?
Sp recovering today.
A good day today.
Lots of director buys this past few months!
but the price is holding. Looks like there's someone on the other end of these trades.
The other house builders are moving ahead this morning very strongly, following yesterday' s good update from BDEV.
the trades have started late but he only "AT" was also higher at 796p, still a very large spread as usual at the start
spread 778 v 790p
UK house prices pick up a bit of speed - Halifax
LONDON (Reuters) - British house prices rose at the fastest annual rate since early 2017 in the three months to the end of June, mortgage lender Halifax said on Friday, adding to other signs that the housing market has stabilised after weakening on Brexit worries.
House prices were up by 5.7% in the three months to June compared with the same period a year ago after rising by 5.2% in the three months to May, Halifax said on Friday. A Reuters poll of economists had pointed to a 5.9% rise.
Halifax cautioned that the annual increase was flattered by weak price growth in the corresponding period in 2018. In monthly terms, prices fell by 0.3% after a rise of 0.4% in May.
But Russell Galley, Halifax's managing director, said the housing market was "displaying a reasonable degree of resilience in the face of political and economic uncertainty".
Other measures of house prices have shown smaller increases than Halifax recently -- with prices in London falling -- but have also suggested a bottoming out in the market after a slowdown linked to worries about Brexit.
Halifax's measure of annual house price growth had been growing by nearly 10% a year at the time of the 2016 referendum.
MJ Gleeson (GLE) reported its largest annual volume growth for the year to June 30, selling 1,529, up a quarter on the prior year. The pipeline of owned and conditionally purchased plots rose 5.6 per cent to 13,575 plots. Gleeson Strategic Land sold nine land interests with the potential to deliver 1,755 plots for housing development ..... Buy.
Share price looking for 800p soon as is now on the rise again after the afternoon pause
RE: Master, any predictions on where this will level out?
I suspect by 850p should have a rest, the next move will depend on Brexit or UK PM outcome
I like the fundamentals of this company. I bought a few Ks worth today. :) A lot of room to expand. I missed out on the CEO debacle, but I'm glad the company is looking out for its shareholders.