Member Info for Crossley

Apologies, does look 10pm Uk time. Just after HK closes…

That’s not possible! Wasn't it sometime in the morning last year?

Any views on the imminent results?

Afternoon JJ,

Do hope you’re well. Yes onwards and upwards.

Unless I am indeed reading things wrong, which, wouldn’t be the first time. Looking at HMT,s holding at the start and end of 2024. Beginning of the year they held roughly a 38% stake in NWG, and year end it was down to 10%.

So they have disposed of 28% of the company in 2024, is that correct? Start of the year there was about 8.992 billion shares in issue. So HMT disposed of around 2.52 billion shares, (28% of SII) with a rough value (mid year price, £3.30) of £8.3 billion.

As NWG stated they’d returned £4 billion to share holders through dividends & buybacks, and the cost of dividend payments was £1.5b, that leaves £2.5b for buybacks.

So where has the remaining £5.8 billion from HMT’s sales come from?

That’s the bit I do not understand? There’s probably a logical explanation that I cannot get my head round!

Have a great weekend all the same…

Have an underwhelming update this morning. Just confirming what they’ve previously said. Although they did mention the new building safety levy that comes in later this year. Another strain, for the sector no doubt. Here’s what Dean said about it at the back end of last year for anyone unaware……

https://www.housingtoday.co.uk/news/persimmon-boss-says-tax-rises-and-building-safety-levy-will-cost-housebuilder-up-to-40m-a-year/5133419.article

Steve,

If you think about it, it was bound to wain in February. I’m sure it’ll be weak next month too. People were having a mad rush to avoid additional stamp duty charges by completing before the increase?

I’ve come to the conclusion that two thirds of the HMT sales must go to funds/public etc.

With NWG returning £4 billion to share holders last year, and the dividend cost being £1.5 billion, that still leaves £5 billion of the £7.5 billion HMT sales unaccounted for (28% holding sold in 2024)…..

NC,

Here’s a little data, although, remember in the 60’s they were demolishing a lot more old homes etc. so the net amount will be lower…

https://www.statista.com/statistics/746101/completion-of-new-dwellings-uk/

I’ve tentatively dipped a toe back in. Just to feel how warm the water is. Moved a little from QQ to back in here.

Best of luck…..

Guys/Girls,

Can anybody recommend a free app that gives live RNS notifications, that’s free of charge please?

Been using VOX for years and it’s been great. Unfortunately, the service is now paying subscription. Just thought I’d ask before parting with a monthly fee

Rsp, FPIP, etc…

If you look at the purchase description, this should give you a better understanding……

https://uk.finance.yahoo.com/news/iag-pay-british-airways-owner-120348417.html

Not sure if the whole Barclays explanation for the downgrade has been posted, here it is in a bit more detail…

Hi, here is something I thought you might find interesting: - https://uk.investing.com/news/stock-market-news/european-airline-stocks-fall-as-barclays-cuts-ratings-on-weakening-demand-3974219

Morning Geng,

Hope you are well. If you don’t mind me asking, what indicators etc and any additional info did you use on the investing.com app?

Great results. Continuing from the last update.

Net cash down but more land bought. Only slight to keep an eye on Imv is….

The next two years are expected to see peak expenditure on our building safety remediation programme, with approximately £100m anticipated to be spent in 2025. The net cash position at the end of 2025 is currently forecast to be between £nil and £200m.

Having said that it should rise if the markets allow.

The clocks moved forward yesterday in the hope the US public might see the light…..

US been open nearly 1 hour

Hello Gord, or anyone else that has a view on this,

Firstly thanks for replying, I do hope you’re well.

I cannot copy and paste page 19, hence my link to the full report.

From the report, the company, in the calendar year bought back 75.141m shares at an average of £5.66. £425.3 in total.

Of the shares bought back, 46.3m remain in treasury for 2024. The remaining 28.848m were used to fund the settled share plan.

So looking at it purely from a shareholders point of view, a

425.3 million pound outlay, for 46.3 million shares held in treasury doesn’t look to appealing? On current SP(£4.47) they’ve a value of 207m

I would be interested in any thoughts to page 19 of the report with respect to the Share Buyback Program. Some big numbers in there?……

How much is actually beneficial to share holders

https://www.melroseplc.net/media/mvepvccp/melrose-plc-rns-2024-final-05032025.pdf

Dividend payments 72m not 74m