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Thats a big jump
dont sell yet!!! 14.50 up today just going down a bit but will get to that pound mark im sure of it .
On the move again today, Market cap just 16M, DAFT.!!!!!!!!!!!
Yes, I think you are wrong about this. I have no doubt it would take NTA longer to realise cash were MNR to go under but you need to understand that Kifin's issue with MNR is precisely that it has promisd it's profits from the Lancs scheme to everyone but itself - i.e. banks and NTA. I think they'll both survive but it's pretty clear now that upside potential from Northacre looks more compelling - in my opinion anyway. aside from Lancs, which will be transformational, they own the premier developer brand in the City, have finance for future schemes agreed. One about to start and another soon to be agreed. they look to be in good shape if the cash situation is as they describe. We'll see. For what it's worth I am holding both for the timebeing.
Also note MNRS assets now valued at a quid a share, will go up in the next set of accounts as their London office blocks have shot up in value since last Xmas
A few points for you First read the RNS from Kikfin and others, The Lancasters is in a SPV ie ring fenced from other MNR projects. Since it is their best profit producer we can safely say its Not going down the pan. Next even if MNR"S other assets went tits up Northacre would still have 100% claim on its share of the profits. Yet again a poster posts rubbish.
This company are heavily reliant on mnr who are telling no one of their financial position, If mnr go under nta are finished.
Re Minerva, are worth around £150M Northacre is in its best position EVER shares have been as low as 2p.!!!!!!!!!!! A placing at over £1.50 is just the ticket, to bring the big boys on board. Northacre as of now does NOT require cash at all.
Tara, I know this is low liquidity so the dips can be as big as the peaks, but well done you on sticking with this. I know you bored a few of the posters on other boards (rightly so !) but you are having the last laugh and you may still win Norbie's money - quite soon too. I got into this back in Jan on the back of MNR and from your posts. Looking very good here now more facts are starting emerge - facts you have been reporting for months. My only worries (and they seem low probability) are that MNR may not survive to pay NTA what it's owed, that NTA might run out of cash or that NTA go for a rights issue or placing. If it's a Rights Issue/open offer I'll gladly participate, just hope we don't see an MWB style placing that hurts PIs. Good luck Tara. You are now officially NTA's Dudette !
so glad i had the confidence to stick with this,due to reading your posts and looking further into the company !! i dont even believe the big sell is a true sell maybe a mm to get you nervy or just a big buy !! i think this will be 70 's soon so stick with it .
See a journalist has written this week re Minerva ' But a 60:40 joint venture with Northacre to build 80 flats in Lancaster Gate, W2, has netted the jv £230m in advance sales for half the multi-million-pound apartments." With profits looking to be over150 million - that would net NTA profits of at least 60 million.
Also insreased my position here (by 100%) at s/p@51p today , been in meeting since 1400 hrs therefore missed this-afternoons strenghtening of s/p ,-------- myself need to increase this Total shareholding , by a further 100% to reach my minimum target (core + float) shareholding , here at "NTA". BW Wraith
Agree - lots of news to come here in the very near future , MNR can't stay stum for long and updates re Lancaster sales should provide more buying confidence.
No worry at all in my view, First you must understand the directors are not going to give away their share of the company are they.? They do not need cash to get through to the profit share, they have cut 1.5M off overheads this year that will go stright to the bottom line. The ceo has told us t interior design is doing well with new workload, and we know the architectural design is working on new projects. Any rights or placing will only do shareholders good. Unlike all the other housebuilders Northacre only has gearing of around 10%
I'm thinking of topping up here. I know the price is higher than it has been and it's very volatile due to low liquidity but MNR will need to communicate something soon in response to Kifin claims. they have no letting news to share so I can only imagine they will be talking up Lancs, that should help here. If one believes NTA can survive until mid 2011, this looks good. Tara, what possibility of a rights issue or placing to raise cash to see them through ?
But not for long, Note after yesterdays 30% rise just about U/C today. £13M pound company on its way to profits of £80M, with half the cash showing in Minervas accounts today
i think this was just the first phase of movment and its gone down to push out the nervy and then on up like the usual mm test!!!
Thanks for the information tara7, I will have look on there now. Sounds pretty good.
Maximus go to ADVFN, see post under. Minerva has booked 68M of profit so far and Northacre in its accounts last week £2.4M pounds.!!!!!!!! The site was budgeted to sell at 1,200 a ft see times newspaper "super-flats for £26M will offer rooms with a view." Now selling for £3,000 a foot.!!!!!!!!!!!!!!
What if there aren't any profits? What are NTA's entitlements then.
See ADVFN , NTA BB read the posts in the header for all what you have asked for.
I'm not asking about MNR. If NTA have signed a deal which gives them 40% of the profit from the Lancasters why was there not an RNS? Surely a deal of this magnitude (now 40% of 200million in your view) would need to be made available to the markets. Mohamed Al Rafi was buying in May. If he knows NTA are into 40% of 200million but nobody else does, then how can his purchase be legal?
MNR have never been keen to tell its shareholders just what a great deal this is for Northace. Northacre could have gone anywhere for funding in 2006. Northacre wrote the J/V contract, and MNR had the option , take it or leave it.
Why have NTA never told their shareholders what the MNR deal was worth percentage wise? You would think if they were on 40% this information would have been made available when the deal was first done. At least we can't say you didn't tell anyone about NTA's potential.......lol
This site is 1/4 the size of The lancasters in super prime road backing onto Kensington Palaace gardens. Land bought in 2003 Gold mine with work due to start by the end of the year. Re profit share for the Lancasters MNRS brokers put the amount at 40%, and so do i.