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well its up to 915p already today!!! got this extract from a commentator on BBC Business Live, basically saying Bovis is worth more than the offers made so far.... "Bovis has made itself a target after underperforming the market in recent months. The share price has failed to recover from the Brexit shock last June and is still down a quarter from 2015 highs. Redrow and Galliford have both seen their share price recover to above pre-referendum levels. And Bovis has been on the defensive after a profits warning in late December and the departure of CEO David Ritchie two weeks later. There is a strong chance that one will succeed and that should support the stock. But Bovis should hold out for a better premium. "
I bought my Bovis shares two years ok at nearly 12 ( yikes) , very heavily tipped by Questor in the DT. Topped up three times since including just after Brexit vote. Finally ahead and want to stay there. But as stated, interesting times ahead and looking forward to the divi payout in May. All other things being equal, hope Redrow wins the buyout as also got there shares and they are doing very well at the moment.
Deutche recently valued housebuilders on a "liquidation" basis and decided that : - BVS had the greatest potential among the mid-caps - the builder’s significant land asset is equivalent to its market cap and with significant work-in-progress invested and strategic land the liquidation value is over double the group’s current stock market valuation. On downside, the problems surrounding BVS meant a target price of 760. DYOR but think this is destined for 990.
I've decided to hang on for now, it sounds as though an improved offer is likely to come, and if it fails and the price sinks back, I've still got 6.5% yield coming from the dividend. If it gets close to 920p I may sell.
I think they know both offers have to improve. A value of 1150 to 1200 may interest me as a shareholder.
BVS has been very disappointing - but I am close to breaking even, then I will be gone. Good luck everyone.
In at over 10 whenever it was so it doesn't look that attractive to me and shows how poorly Bovis has performed over the last few years All the housebuilders I could have bought and I picked this one
Thanks Josh! Lovely rise today....im part tempted to cash out now as I bought in so low, but im split on the decision as I bought these for long term gains. "IF" a take over happens then im better off holding, if it falls through I will wish I sold out now....where's my crystal ball? lol
Not sure why parts of my message have been censored out below! Should say Share.. for.. share.. exchange (doesn't seem to like it if I write that without the dots-strange!?)
Depends what any agreed offer is. GFRD deal is, at the moment, a share for **************, which means simply that if a deal is agreed all your shares will be exchanged for GFRD shares in the agreed proportion. RDW offered part cash and part share for **************, in that instance if agreed by shareholders you'd get part cash and then an agreed portion of RDW shares. Bovis board rejected this idea though as they said the cash element didn't crytsalise value for BVS shareholders which is true, especially given the share price is now above their implied offer. BVS would then be de-listed after a takeover and you'd just own the shares in the combined entity under the taking over parties listing (Ie GFRD or RDW or whoever take them over). RDW have confirmed tonight they still hope to strike a deal.. both RDW and GFRD have until 9th April to confirm their intentions to make a bid.. interesting times!
PS I've never been in this situation before, what happens if a takeover completes? Do our Bovis shares become Galliford shares, or do they remain Bovis shares, just now under different ownership? Sorry if this is a stupid question
Bovis Homes rejects offers from Redrow and Galliford Try - http://www.bbc.co.uk/news/business-39248669 If the offer is only 7% above current value my opinion is that's too low
I would be very interested in buying back in here if either RDW or GFRD are able to complete a takeover. Both have very strong management teams, especially Galliford Try with their new CEO pete trustcott, poached from Taylor Wimpey. This man is very experienced and should GFRD acquire BVS he would soon sort out the appalling management strctures and mess that disgrace of a CEO RItchie has left. Very interesting times now, GFRD offer is c. 7% above current prices so I would expect to see a rise of this magnitude come Monday. Inland Homes surely also another takeover target at current levels and worth a look.
Seems like your wishes have been answered . Hope you didnt take an early bath on Friday
New MD has no ideas about quality, saw him onsite at winnersh and Wokingham walking the sites, same old crap as usual, let's hope Bovis are taken over as the new bloke is a complete waste of shareholders money, where do these idiots come from, if things are to change he needs to speak to the people doing the job, not the agents or senior contractors, it's the men on the ground who dictate the quality, not the suits in the office, need a proper open door to the MD where issues can be aired without the fear of loosing your job, quality is awful and nothing will change, having directors walk the plots is like throwing money down the drain, contractors should be responsible for there own work, if no good then get them thrown off site, NOT rewarded with additional contracts
been looking good past few days
See the brokers have up graded SP so what happens it drops,
in the news today Barratt are becoming more aggressive with their dividend, shows confidence in the housing market.
M G increase holding and directors lose shares options for poor performance. All good for shareholders gla
Stock market panic, like said before all builders use sub contractors, and have issues Bovis are addressing and this share will bounce back bargain at this price.
...of course, all that is just my understanding of the situation, others may differ
diamondguru this is oldish news, its open and aired.....and is the prime reason for the 12% SP fall. So I believe its all baked into the SP at its current price. Essentially Bovis have declared in the figures the £7m cost, and said they are going to slow down production in 2017 to concentrate on quality instead of quantity. I see this drop as a one off due to this circumstance......that said, there is risk (hence my small first tranche), but more associated with any drop in the general housing market as far as im concerned, but so far its holding up quite well though.
Management addressing quality issue , divvy on the rise, cheap share price compared to peers. All volume builders use the same subbies that actually build the boxes so I cant see how these are any worse or better than any other builder. I build 4 houses per year and struggle to get decent subbies, good subbies they are just to busy.
I once considered this stock an investment but I came across this article today. Just though id share with you all. http://www.dailymail.co.uk/news/article-4243626/Bovis-Homes-puts-money-aside-compensate-furious-buyers.html They have set aside 7m but who knows it could be alot more than this! plus this would damage their reputation big time. DYOR
Well I bought a small tranche here at 755p, primarily as I see a house builder that's suffering "temporary" woes due to the quality issues, but as the country as a whole is desperate for housing long term this should be a sound company. Indeed with revenues up 11%, seems like a good solid long term bet to me. Sound bytes I'm hearing in the press are circa 1 year to recover, with some reduction in house numbers through 2017, however with a dividend of near 6% I can bear that. Only got a small tranche on as there are certainly some risks, so may potentially average down if it comes to that. GLA