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Where on earth are ARDA getting all the shares to sell at 6p? They've either swallowed a big sell, as yet unreported, or there's some forward selling going on surely? They are the company's own broker right?

Me too! I've got a good feeling here - sometimes you just have - and I've been looking all day for a glaring problem, but find one I have not! Night all, and GL for tomorrow!

Well hobione, if someone told you they'd found a company with net assets of over 60million, 30million plus of that in cash, making a profit of over 20 million per year, paid a divi of 28.5% and you could buy whilstthe mcap was less than 8million, due to a distressed seller who was now almost certainly clear, you'd imagine a rerate was on the cards no?

Well the next few sessions should be interesting. Either we've all missed something, or there will be an almighty rerate from here!

Furthermore, if the company doesnt exist (lol) who do the auditors, nomad and broker work for, and who pays their fees. For the risk vs reward here, I'll take the chance that the company exists!

If they do duck, they need their brains checking. TBH the same goes for most of these bloggers. Anyhow, from looking at the RNS history here, are we about due the interim divi statement, closely followed by half yearly report in August?

I still can't bend my mind round this SP. Company makes over 20mln GBP a year. Apply a PE ratio of 10, it should be worth 30 times its current SP. At half that, its still massively undervalued. The only negatives I can see are that there has been a distressed seller and Mr Winnifrith claiming the company doesn't exist. The seller appears to have finished selling, and I've yet to see an example of TW being correct. More likely he shorted JSI and published his usual ramblings to drop the SP. Thoughts anyone?

From reading the last few RNSs, the divi paid out in 2014 equates to a return of over 65% based on the present SP. From the last trading statement, profits this year are expected to be a little lower. But not much lower. And face the fact, if profits halved, it would still equate to a return of over 30%!

That it for today? Another 20% tomorrow, and so on.

Most of the trades reported as sells are buys under the mid price.

No wonder it moves so quickly boreddesigner!

Agreed zatcha. 7k of sells and the bid doesnt move. 700 quid lifts the ask.

I cant see this as anything other than massively undervalued. 22mln GBP profit for goodness sake. Dividend paying!

A holdings RNS would certainly ignite this. It rises on a few hundred quid!

If the annual profit is 22mln, what PE ratio could realistically be applied?

General - if thats all there is, its still cash and property worth over 5 times the present mcap!

I rather think you'll be seeing more and more new faces here over the next few weeks!

Even after you convert it, its still a profit of 22mln GBP, and a mcap of 8mln!!

It reminds me of the early days on that other share - wondering whether to buy more at 7p etc. Could see a substantial rerate here too, or at least a decent bounce!

Afternoon bloodaxe. Yes, bought in today - still scratching my head as to how at such a dirt cheap price. We could do with a couple of derampers to tell us why. Any idea where to get a couple from lol?