Member Info for AndrewYorkshire

Guys. I am not sure I come to the same conclusion as you in terms of net assets per share. There are 99.7m shares in issue and shareholders funds ( according to the 31 December 2009 annual report) of £44.7m. This gives a net asset value per share of 44.8p against a current share price of 25p. I would appreciate your comments because I can't get anywhere near your view of 130p per share. It may be that you are thinking bout the potential value of future planning approvals. Well, the directors could have taken a similar view (ie that those future planning aarovals were 'nailed on' ) and uplifted the value of intangibles in the year end accounts, but they evidently didn't , so how does Riddlet get to 130p? ( Or am I missing something?)

Not sure about this. It implies the bank won't lend, which is why certain directors are having to step in. And if the directors have the option to buy some of the company's assets, the qtn must also arise as to whether the existence of that option might provoke a conflict of interest so far as those directors are concerned... ie would it be better for the directors to exercise the option for themselves to purchase company assets, or to procure the repayment by the company of the loan? What do people think?

Riddler Where do you get NAV of £1+ per share from? As I understand it, there are 99m shares in issue. Shareholders funds are £44m. Thats a NAV of 44p per share . Admittedly freehold land is in the accounts at acquisition or historical cost , but I don't see a further £55m of freehold assets that would take the shares to a NAV of £1 each. What am I missing?

I like this company. I have been following it for some time and I am puzzled why the share price is so low. What do you think is holding it down or has it just been neglected by the market?

Judging from the article below, Aggreko has been busy in Bangladesh, a country with a great power shortage. Although there hasn't been much activity on this BB recently, there has been some very astute buying of late. Power shortages for some = more business for Aggreko. I smell cinnamon! http://www.thedailystar.net/newDesign/news-details.php?nid=135149

I know a few of you (SD77, Tuggers etc) have been getting a bit excited about this share and the company does seem to be reporting that its customer base is getting busier. I have been a non-exec director of a couple of large shopfitting companies (which I think this essentially is) and it's not an easy sector for even the best businesses to make money on a consistent basis. In fact, the sector is riddled with insolvencies as the high street turns off the tap as quickly as it turns it on. It's so easy for businesses to suffer an over-run of costs on a job, as the shopfitter is the last of all the trades to complete a refurbishment, which means that if any other trades over-run on time, such as builders, joiners, plasterers, electricians, decorators etc (which they nearly always do - usually because of reasons associated with local authority building control or the health and safety mafia) it's the poor shopfitter who gets stick from the client. This is because the new opening day is usually made public weeks in advance and the client will never put it back once it's been announced. This leads to regular 24 hour working (double or treble time for staff) for the shopfitter, cost over-runs and last minute mistakes which are exensive to rectify, liquidated damages clauses (ie penalties) and regular arguments with clients. So take care!

Guys I am a corporae finance lawyer who does a lot of insolvency work and I thought I would post my view as to what is likely to happen. Unfortunately, it's not good news for shareholders. My expectation is that shareholders wll get nothing at all. They stand at the bottom of the queue and only get paid out if every other type of creditor is paid in full first, but that won't happen and I actually expect the unsecured creditors ( ie suppliers of goods and services) only to get a few pence in the pound and then only after a few years. The banks and other secured creditors get first shout After the costs of the administration ( which will be huge because it is a complicated business) and then the employees stand next in line as preferential creditors. So I am afraid you may as well write off your investment. sorry to be a bearer of bad news but I have seen this happen so many times.

Of all the water companies, this looks the most ripe for take over. There's no shortage of water in the N. of England .( In spite of this month's rain we are probably going to see more droughts each summer); it got a far better deal from the recent review than some of its competitors, and it's got a very secure dividend stream that will attract a lot of investors looking for a steady income stream and therefore prop up the share price. Maybe it won't set the world on fire but it's a good defensive stock with take over possibilities