Member Info for alan80

Stxx I felt a while ago they should have been biting the bullet, and whilst not what you would really want to do, unloading their best assets to get that debt down. They were hoping to get by, and ultimately didn't as the cost over runs smashed the cash flow. Others on here and elsewhere have criticised the share buyback, and it ultimately does seem to have wasted precious cash that they needed. Again today a lot of buying, so some are confident of making money here. I do hope that any large stake building is not designed to get the company and assets on the cheap, leading to small shareholders getting a further kicking in. With Wicks and Nish large holders there is probably less likelihood of that happening, but who knows when the deals are being struck.

Nearly all buys this morning so far

Although share buys and sells do get misreported, there does seem to have been more buying than selling. If that is correct (a big if) then someone sees value at 20 pence

I wonder if the delay in the £75 million sale was because the buyer started to play hard ball on the price. If it gets to a fire sale what would the landbank go for?

I have never been a great fan of share buybacks having seen examples of cash being flushed down the drain. The argument the company would make is that it will enhance shareholder value as there is a significant discount between share price and asset value. Ultimately the strength of that argument lies in what assets could be sold for, and if it came to a fire sale then you can immediately at a minimum halve any NAV. Hopefully it is not the case, but some loan agreements have gearing requirements, and INL are well north of 100%. Right now besides the company announcing completely new largescale sale of land agreements, the only thing that would be a positive signal of the worth of the company is if the directors between them went out and bought for their own holdings a minimum of 2 million shares.

Again I'm not sure how positive today's RNS actually is. They have had up for sale existing houses at Wilton for some time, so it could be the conclusion of that process, and there is the question of how much actual cash has already been accounted for.

In some ways today's RNS seems like an almost desperate move for some good news, given that it was something previously announced. I would be interested to hear what others think
about the working capital part, to me it points to a company short of capital.

I wonder if it is time to de-list and sell all the parts of the company off. They have got into the nasty habit of finding banana skins, and when you get into that habit it becomes hard to get away from it.

If they had bought the stake for a third party then the price would have jumped late friday. So are they buying on behalf of Eleia to ensure there are enough votes to get the takeover through? Strange if they are, because I would have thought it should be straightforward.

Am I missing something here because why would Tavira Securities take a 3% stake?

Strange purchase at 9.48 this morning. 300 shares at £3.75.

Winning bid £3.72

If we get lucky it will. Nothing yet from the Takeover Panel website

Quite a number of buys at £3.70 today

Judging by the current price you may be closer than my £3.50 guess

My reading of the RNS is that only the two bidders can participate. But I suppose after the auction process another party could jump in, although I suspect it's down to the two we have. I was anticipating a final price of £3.50, but perhaps it might get a little higher.

It was a mistake - trade went through at £4.50 after market closed, but was then cancelled

Google have the share price jumping to £4.50!!!!!!!!!!!!!!! just before the close. No RNS, so must be a mistake

Google have the share price jumping to £4.50!!!!!!!!!!!!!!! just before the close. No RNS, so must be a mistake

Two really large buys late today