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Will send him an email..
You would have thouight they could take the opportunity to give us an update!! To thank them for destroying so much shareholder value in just a couple of years is a disgrace... At least that should mean a reduction in cost base... I notice the Indian stock market is back to all time highs as this dog heads back to all time lows..
To clarify its the Hirco website Hirco.com and not HRCO website (which is hircoplc.com).. The two companies are very different!!
Despite a return to risk, I see HRCO continues to drift.. Hopefully we will get something out of the Management soon... I notice on the main Hirco website yet more townships have been announced.. I can't bellieve there are many investors wanting to back them given the dismal performance of this stock... Re-reading the last Chairman's statement from May, he stated that they were looking at other ways to realise shareholder value apart from dividend.. Lets hope he's found something!!!
It certainly seems that something is amiss... Accounting fraud or perhaps something wrong at one of the developments? I just don't understand!! I'm holding but more and more regretting that decision!!!
Agreed..HSBC are still reducing.. could be for many reasons so not too worried by that.. imo there is lots of stored value here but the timescale of getting it to shareholders keeps extending!!!... there is always alot of negative chatter about the HB being corrupt etc.. but personally I don't think they are worse than other developers (and many CEOs!!) . they handled the last slow down well and were prudent to hold back the build.. since then sales appear to be progressing on track and the indian economy still seems to be running on full steam... lets hope for some positive shareholder communication in the not to distant future....
That was barclays filling my SIPP order today, great execution as always!!!! most of the jump is the spread.. will look at acta.. thanks
So true.. I have been buying AGI Theraputics today.. has no debt and cash on its balance sheet of $10.5m which is 3 times its market cap.. released results last week and is now looking to partner its R&D pipeline.. cash burn for 6m is $0.6m, so company can run for 5 odd years and will still have current market cap in cash on b/s!! Board loaded up with stock.. if you have a look let me know what you think...
Doesn't seem to help this one... justs falls every day at the moment.... unless some holders are privy to information we don't know, it just seems crazy given mkt cap=accumlated preferred dividend!!!
Sadly, much like every other day!!!
Do you know when we are due any news from Hirco re: sales etc....????
that's why IMO this share price is crazy.... but of course that's part the fun of investing!!!
it makes absolute sense.. suppose they offer 180/share.. for 100p/share = pref dividednd that is owed to shareholders, meaning for 80p/share HB get all the profits form the development... (ie the 40% they had to give us)... laxey wanted board control etc... if the deal was recommended by the board and shares in the new entity were offered i think it would defn stand a chance....
would be more than happy to take a reasonable premium and/or shares in a merged entity.
Hirco's sole assets are preference share investments (valued at £473m) in the Hiranandani mixed-use township projects in Chennai and Panvel. These entitle the group to a 40 per cent share of residual profits, plus a PREFERENCE dividend of 12 per cent a year compounded. Last December, this dividend was already valued at an estimated £55m so will be closer to £70m now... Just because there is a delay in it being paid out it is still accruing to us sharehoders... With the market cap pretty much the same as the accrued dividend, the HB would be crazy not to make a sensible offer for this company!!!!!!
Your right about confidence and i think generally we are due for a turn in equities. Huge amount of M&A starting to come through (maybe even here, hehe), valuations at historic lows, and double dips priced in!!!... Interesting that commentators are trying to explain how there isnt a bond bubble as "things are different this time".... sure sign that it is and when that bubble bursts the equity markets will fly....
I bought some more today... The reasons I originally bought into this company seem to still stand and I often regret not buying into dips (in this case its been a slide!!!).... sales seem to be progressing and it looks like the brothers intention is to build more townships (through their other company).. I'm sure they would be keen to merge this with the other entities as has already been touted... I think maybe the announcement of no dividend was just a precursor to this in order for shareholders to be more sympathetic to a deal... I have to say I would be open if it were a reasonable premium!!!
I am holding tight.. I have the stock in my SIPP so in no rush for the money.. still can't understand why they would issue such an RNS.. why not mention dividend policy at the next results, nothing was expected in the near term.... i haven't seen any market comment that would suggest the need to issue this statement... must mean something is afoot....
It seems to me that Management were aiming to get the share price down.. Why else would you release this RNS at a time when markets are so risk averse.. I guess those brothers want to get this stock shaken before coming with their 'offer'...
Today's article in the FT showing property prices up 20% in India, nearly as dramatic as Beijing.. More importantly for us if you go on the Chennai development website: Buckingham, Clarence, Highcliffe, Highdale, Highgate, Woburn, Windermere, Rockingham and Sandon blocks are SOLD OUT & the remaining blocks are near.. Should hopefully bode well for the sales update... GLA