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I had to post this from ADVFN from someone on the rental business, very bullish on the disposal of the vans.....as the company said onthe last RNS.... .... "The net number of vehicles returned to branches from lockdown up until the end of April was 6% in UK&I and 7% in Spain. These have been processed and largely held on the fleet pending a final decision as to whether any fleet is excess to future rental demand and should be disposed of. "
rental 20 Jul '20 - 14:24 - Redde Northgate
forget everything the most important thing to redd is the disposal prices and the current market and anyone in the trade knows prices for vans and cars have gone sky high.
redd profits will be up by massive percentages from June 2020 onwards, all the way through next year,
dealers that normally stock for example 100 vans are down to 6 vans in stock.
a £10000 van is up in price by around 20 percent,
Premium Car prices are through the roof too, a BMW M2 trade price £32000 selling through BCA for £44000.
£4500 vans are up £2000 for £6500
U
I would guess now alot of rentals have came back off hire then got sold at super high prices in June and now you cant buy a van anywhere so I would guess northgate side now running at 99 percent ulitisation, and as vehicles go off hire or swap for new vans northgate side making at least £2000 extra per van sold from june onward to continue next 12 months
if northgate side sell and swap for new 50000 vehicles and make £2k over cap for each van then this will bring in 100 million extra profit, (not turnover)
we should have been at a 400 share price anyways, this was dropped due to covid, but redd are winning over the norm proift due to van shortage, so we really should be at a share price of 550 - 600
Follow-through of the movement upon the stock, though the market started well down but now recovering.
Breaking UP from the last month Downtrend
chart ... https://uk.advfn.com/p.php?pid=chartscreenshot&u=mBxV9FOC9XsJl3XCgxDboKDwLbv1kzORjwh0tNQObjw%3D
Finishing strong at the end of the day
That's the way to go forward.
From the UPS thread ......
UPS
REDD 167.70p ( 167.20-168.20p )
Had the retracement and was ready to move higher when today there are some large trades changing hands, meaning any overhang has been cleared and also broken the downtrend of the last 40 days.
chart ... http://uk.advfn.com/p.php?pid=staticchart&s=L%5EREDD&width=800&height=265&p=2&t=1&dm=2&vol=1&cb=
sobering stuff
https://www.bloomberg.com/news/articles/2020-05-23/hertz-files-for-bankruptcy-after-rental-car-demand-vanishes
A different sort of business, but perhaps some similarities.
Hullaballoola, have you ever considered watching the news?
160p +8p
Philip Vincent - chief financier officer - buys shares 19,971 shares @ 149.4p yesterday 22th April
Help me out here guys. I bought into Northgate and was ticking along nicely until the merger. Found it difficult to source info and have since buried my head in the sand. Annoyed to be 50% down.
Would anyone kindly update me on what’s going on and the outlook.
Thank you ??
We had a BREAKOUT last week
https://uk.advfn.com/p.php?pid=chartscreenshot&u=WXaibFXtXnCxtqTmQARXRIa1fQsNHofQ2dz1%2FqWYADA%3D
The breakout point has been resistance for the last couple days as the REDD and the market retrace, a better day on the way today.
Recent Market movement up has not yet got the stock really higher apart from today.
the chart is signalling this move from now on, all thre Indicators are slowly moving higher from the lows, MACD is in a special position as is ready to cross over the "0" point.
" MACD Crossover - crossing the zero line
The simplest strategy you can think of with MACD is trading when the MACD line crosses the zero line. When the MACD line crosses above zero, you BUY."
1 month chart with Indicators
https://charts.moneyam.com/Chart.aspx?Provider=EODIntra&Code=REDD&Size=700*450&Skin=GreenRed&Span=MONTH1&Type=3&Scale=0&Cycle=DAY1&OVER=&MA=50&IND=MACD(26,12,9);RSI(14);SlowSTO(14,3,3)&Layout=2Line;Default;
Below TNW
Still profitable (modest valuations)
Cost cutting to come
Even if you allow only modest value to old Redde
This sp is low for the old Northgate business imv
Somewhere here (170-210) looks a decent floor
but who knows my "analysis" may be flawed
DYOR all
Don't rely on anon posters
More like a reverse takeover - Northgate name disappearing. CEO is a Redde man that news nothing about Northgate and van hire.
This woman as chairman is a bad move - look what’s happened to Northgate investors capital - she’s clever and has a track record but has made a real **** up of this one.
Still believe Steve Smith should be chairman and have push into Europe with growth - but hey what do I know !M
Most of the volume are paired trades - I have heard this mentioned before to do with - CFD's ?? I thought that in that instance it was in the context of it being at the end of the month. Can anyone enlighten me?
I see what you mean about volume- price is not shifting so mm's working through a large II sale??
That is about it, NTG taking over Redde - it is finalised for the 21st . Had it occurred after the 6th March Redde holders would have got a 5.5% div. Mcap of merged group should be >700M which puts it in the running for possible FTSE 250 inclusion/reserve list at a later date. The 'right sort of shares' in this zone often do well which is the reason I am in on this.
What’s the story here in simple terms, a lot of buying going on. I know NTG are taking over but what’s with REDDE thought it was de-listing? Thanks
Good point on the readings, I managed to miss the section on conversion rates in the SONG c shares prospectus, so had expected 1:1. Went back and re-read it and it was black and white. Guess that's why this isn't the day job :)
Fair point, it is interesting how we can both read the same thing but have interpreted it slightly differently - clearly myself incorrectly. I had emailed them to ask about this and got directed to the 'in the event' sentence - I took this to mean that they may pay it......
My recollection of the wording was that the merger would happen in Q1, and something like "in the event" that it was after the Redde divi then the divi would be payable, it certainly read as an exception that it would be payable rather than the expectation. I would have seen it as a bonus (to a crappy deal) rather than what I planned. But then communication hasn't been wonderful at any point here IMHO
My understanding was that they said by end of Q1 - rather than specifically pre ex-divi date (6th March). As NTG holders have recently received their divis and the directors of Redde hold a lot of shares I had assumed that they would time the merger to be after the Redde ex div date (two weeks later than that proposed) .
Not sure why it's not what you expected. My memory of the prospectus was that it was pretty clearly planned to be completed by the redde divi date and the divi was only paid IF there was a delay.
It looks like the merger date is the 21st Feb - so no divi ….
Not what I was expecting
Only millennium raising its short
If this pays a five or six pence divi plus if NTG keeps rising this could be 115 before merger date nice