Member Info for GoldAnOil

...looks like the bottom to me, time for the brave to jump in!
Or average down.

Hey Mrd,
Some poor souls bought Angus at 20p !

...57.7p to buy with HL !

The 'Proper Value' is the highest somebody will off and the lowest we, (Board) deem acceptable.
Given the 75,000bpd it depends on cost of production and oil price. The Ugandan project may be the game saver, if it happens!
I'd be happy with £1.50, but have quite a low average, others may not be as happy.

Can buy as many as you like at 60p, whether you should is a matter of opinion.
Might well bounce today, or could fall on further bad news, I don't think it's all out yet.
Interesting week ahead, especially as we're now up for sale!

RR...
You've seen me play then! LOL
Seriously though, seems like the rampers have moved on, SP falling.
Show's over for today.
Now, where's my Niblick?

Hi Essex,
It does actually. The last spike to 2p+ was on very similar news.
As you know, the SP dropped quite rapidly, locking a lot in, yourself included. It is admirable that you stuck to your belief. I'm sure the company will be a good long term hold and I will give it a month or so and see then.
Bye for now, game of golf booked !

Hi Freddie,
Just giving advice to the unwary who might believe all the hype.
Look at the charts and you will see the wisdom of my words.
Sadly your sort don't like the truth!

...there are a lot of PI's trapped now above 2p.
Reminds me of Summer 2018...

How about Coveted ?

Converted from what?

...The SP above 760p again,
however that bit of good news is offset by the death of Bob 'Dylan' Willis, one of England's truly great sportsmen and a real gent.
Anybody who remembers his gutsy destruction of the Aussies 2nd innings at Headingley in 1981, will be truly saddened by the news.
Bob Willis RIP

WOW!
2 massive deals yesterday, just before 4:00pm. They look like buys, but didn't affect the SP at all!
Strange...thoughts anyone?

Boschybear: Earlier this month you said,
'From where I am sitting I thank my lucky stars that I am out for the time being.....even at a loss!!'
That being the case, please move on and leave those of us still invested to our fate, you are beginning to sound like a sad deramper looking for a low re-entry point!

I asked GFRD what value they expected for the 'New' Construction business, I wasn't expecting a detailed statement, and didn't get one, but here is the relevant part of the reply:

...Additionally, the Galliford Try Board believes that the Transaction will also result in Galliford Try becoming a well-capitalised, construction-focused group. Again, we can't comment on the future valuation of Galliford Try plc, but the business is benefitting from £300m cash proceeds from Bovis which will be used to prepay and cancel the outstanding amount under the RCF as well as to finance the ongoing working capital requirements of the Continuing Group (Galliford Try plc). We note that the £100m private placement will be assumed by Bovis and will no longer sit within Galliford Try.

Galliford Try's construction business is expected to benefit from the recent operational restructuring, which refocused the business to deliver improved future performance, which you can read more about here. The business’ strengths in UK building and infrastructure, particularly in the highways and water sectors, along with the spread of work for both public and private clients, provide a strong foundation for Galliford Try’s future as an independent construction-focused group...

So as to value of our existing GFRD shares, it seems that the market will decide!

Our existing shares will not qualify for the Bovis Final Divi (XD 03/20) but will qualify for all Divi after that. Any shares purchased AFTER the deal (in the 'New' business) and before the XD date will of course qualify.
As well as our present 35p GFRD Divi due in December, there will be a further Divi announced on 31st December for the 'Rump' Construction business, (Existing shares).
I think!

As I understand the offer:
You will receive 0.57406 bovis shares for each GFRD share currently held.
You will retain whatever shares you hold in GFRD, which will apply to the 'Rump' Constuction business.
You will receive dividends, as declared, by both companies relevant to your shareholdings.
Hope that helps.

Galliford Try will make the firm’s construction boss Bill Hocking its third chief executive since March once it completes the sale of its housing arm to Bovis Homes.
The Bovis deal means Galliford Try, which confirmed the management rejig in a statement to the London stock exchange, will now focus solely on contracting, although it does have a PPP investments arm which made a profit of £4.5m from a revenue of £31.5m last year.
Hocking, who joined Galliford Try in 2015 from Skanska, will replace Prothero who took over from Peter Truscott after he left in March for the top job at housebuilder Crest Nicholoson.

Prothero had carried out a review of the construction business which saw the firm spend £5m getting rid of 300 jobs over the summer and promise to slim down the size of the division.

In its latest accounts, construction’s turnover fell £300m to £1.4bn in the year to June with Prothero’s review deciding it would only concentrate on three sectors in the future – buildings, water infrastructure and highways.
But the scale of the task facing Zimbabwe-born Hocking (pictured) to revive the construction business was underlined in its latest results with the division racking up a £71m pre-tax loss in the year to June.

The firm has been chastened by huge losses on two jobs north of the border – prompting a rights issue last year – with the new Queensferry Crossing near Edinburgh and a bypass around Aberdeen which it was building with Carillion and Balfour Beatty costing the firm over £100m.

The deals, both for Transport Scotland, were inked before Hocking joined but he told Building last year he wouldn’t have signed them and added: “We will not do mega, lump sum fixed-price jobs anymore.”

Let's hope Prothero doesn't get a 'Golden Handshake' farewell settlement after he made such a mess!

There certainly are many views on this deal, but as I see it:
I hold 2500 shares in my SIPP. Today they are valued at £17,900. I will receive 1435 Bovis shares which will be worth £16,700.
(roughly and excluding divi's, costs etc)
So my remaining 2500 GF shares need to be worth £1200 or 48p per share. Anything over that will be profit.
However, the fact is that over the years, the amount spent buying these 2500 shares is well over £20,000, so in reality I need an SP of over 120p in order to see any profit. Is that attainable?
As somebody said earlier, the value of the remaining GF post sale is critical. Of course the II's will decide and if they see it as a bad deal, it will not be passed. Do they know better than us?

...ahead.
I would expect the SP to level off around 710p, given the Ex Div effect, but with the Bovis deal on the table now, will we go up or down?