A message for the Foxtons Board of Directors27 Feb 2025 10:45
I'm not going to prolong the conversation with regards to that Bloomberg article but just to say the stock was marked down by 5% first thing and some 1.5m shares traded in the first hour yesterday morning.
Today just over 20,000 shares traded !!
Anyway, just another excuse for the market to help themselves to more cheap shares of Foxtons and don't be surprised if we see another markdown after the results next week despite them being the best set of numbers in some ten years. It won't make any difference.
We've seen over the last two years how the US Banks have decimated UK PLC and here is yet another example. A once healthy UK institutional list of shareholders and now after years of shorting and market manipulation they all sold out citing underperformance only to be replaced by US Banks and private equity/hedge funds.
Indeed the top 20 shareholders are all of the above with BGC Capital remember them, now holding some 20% of Foxtons shares.
So, how can we stop this ???
Remember last year I mentioned a management buyout of the company and people thought I was talking daft or I was on some sort of medication, well I have a proposal for the Foxtons management.
I can help you organise a buyout of the company at say £1.50, most shareholders would be happy with this, a significant premium to today's price, even Converium Capital would bite our hands off.
The company is taken private at some £500m , I can help organise the financing, I have some good contacts and now recently retired I can dedicate all my time to it. Interest rates are on the way down and we'll see rising profits over the next few years kept 'in-house' to offset loan interest payments.
Competition in the sector will dwindle down in the next few years leaving Foxtons as one of the few large property businesses left in the sector and with increasing profits and market share we'll IPO Foxtons say 500m shares at £2.50 each giving an initial mkt cap of £1.25bn !!!
If we don't do it, I can guarantee that BGC partners are thinking the same !
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