Member Info for Oi_Oi_Savaloy

totally agree. If it's carnage internally....we need to know. But if it's not.....we need to know. It's not difficult.

Hopefully that's because he's been given an epic alternative offer rather than, what I suspect is happening; he's realised it's carnage and he's bitten far more off than he can chew. (yes, I'm a pessimist)

Hopefully we'll have some sort of Acuity update from Drumz soon? (living in hope).

And no debt. $900mill in cash and no debt. And america hasn't come on stream yet either. Bodes well, hopefully, for the future. Only issue is the cost of acquiring new customers and keeping hold of the high net worth consistent traders.

which is nice in itself tbh - Plus has had a habit in the past of dropping bombshells in these trading updates (but they've couched the bombshell in Plus speak and so a certain amount of deciphering and reading-between-the-lines has needed to be undertaken by the collective to uncover the actual truth). They've stopped doing that in recent years however.....so to read that update and not have to worry about deciphering is a postive in itself.

So INL have just won their appeal at their site (on the edge of) in Framfield (Wealden District). It's captured a consent for 58 homes.

There's massive demand for consented sites at the moment so I fully expect this to be sold too.

I think people are bracing for the bad news (I would expect the new ceo to dump al the bad news early doors, blame the old management and then hopefully move on upwards) before piling in.

But Drumz are trying to sell their shareholding aren't they? If they've still got it - doesn't it lower the value of their holding?

Chaps - bearing in mind Drum's legacy investment in KCR (when it was Energiser)......best keep an eye on that company and it's......shockingly bad share price performance......it's tanked 35% in recent days........

Anyone have any views on why? And that then brings me to....why has Drum's share price strengthened in recent days?

Any ideas why the share price has fallen?

Surely we're due an update on things soon? Feels like we're treading water yet again.......sincerely hoping for new of some proper progress.

They've underplayed it somewhat, in my view, but to capture planning for 1,500 units in such a quick time (19 months from application submission) is stunning. I can't comment on the £19.5mill (whether it's a fair reflection of the terms of the deal ....but £19.5mill is £19.5mill....in this market that's alot of firepower.

That actually validates INL's business model in that respect.

It's just that the last 5 years have been absolutely ****e across some many elements of the development game. About the only thing that wasn't broken was the mortgage market/buyers market.........whoops.

Separately - I am seeing and speaking to alot of one-man-bands or smaller businesses with a bit of property or land and we have definitely seen an uptick in responses (we're not seeing desperation in the selling prices....people still want to absolutely max out their receipt, which is their right of course). Perhaps others that swim in the development game can comment - but we don't speak to fixd-charge receivers and the like so I can't comment on whether there's more distressed sites coming to the market than normal.

That $950m in cash is worth alot more to us (in the UK) than it was 3 months ago.......

Ha ha ha Skid! :)

(er, same here......)!

Perhaps the (slightly) refinancing mentioned gives them more breathing space, to capture a better consent, then sell it then. I took from that update that there aren't any notifiable issues on the main contracting side of the business and with the banks working with INL, there's extra confidence, and really importantly, time, to maximise sales.

That's my opinion on all of that.....but again..........it could be that the sale fell through and they're crying in front of their Ipads as we speak......

Depressed share price = share buy back programme hits harder so at least there's a little bit of positivity to all this.

Despite the seemingly chunky purchases......you've got to remember there are 225,000 shares out there still....so to build up a stake holding......is going to need alot more than we've seen, to trigger an RNS. Not saying it isn't happening but from looking at the trades, get the feeling it's one-man bands buying than big corporates. Happy to be corrected on this however/ interested to hear everyone's thoughts.

I can't understand why this isn't moving harder north - some big buys (compared to the last 18 months where literally nothing was being bought or sold) happening.......and it's inching up s l o w l y.....

Just for the record - I'm in at 34p.....so I'm desperate to see the share price rise.....but I try to write from an objective point of view. I take no pleasure in seeing the share price at 20p.

On the landbank STXX; there's a whole host of reasons why valuing it is difficult and why selling it is too. There's alot of cost associated with selling (you don't just call Knight Frank or Savills and they call all their developer mates, there are upfront charges, there's a price to be agreed to transact at (and quite alot of negotiating between owner and agent on that front - bearing in mind that the bulk of an agent's fees are only paid on completion - and the agent is carrying it's own costs of staff, offices, overheads......etc etc.....and they aren't going to waste their time on trying to sell a site that they feel is incorrectly priced......but that price that the agent wants will be, usually, too low , for the vendor to agree at). Information has to be collated, the secure data room created and filled with all the necessary documents - an utter ball ache and time-consuming and then they've got to go and market it, garner offers and then, usually, ask for best and finals after the initial round of offers. Then the winning purchaser has to be vetted before heads of terms are agreed and the actual legals start.

INL may not have enough money (and personnel) to sell even half their land. And that's assuming that land has planning.

It's a long, drawn-out process - not 3 weeks and you've got your money......(as you no doubt know).

So it's back to time. Do they have enough of it to survive til they can start monetising the land bank?

I don't know is the answer to that question.

And that's assuming that the staff aren't leaving.....sorry to be negative but I've been through this (2007-2010) already; I know from actual current experience how difficult and drawn out it is to actually sell sites in this market.

Exactly that Sain. The banks will not give them time, if, as I suspect, the main-contracting business is bleeding money. And as I said before......time is anathema to getting the best price for your land.

I've no idea what Tesa is banging on about - your commentary and opinions have always been on point in my opinion.

The banks will not give time if they smell blood Tesa. I'm sorry to write that........ but there's alot of macro stuff going on in the world.....that Inland suddenly find themselves at the mercy of, because the banks are risk averse where there's obvious material risk. I don't think the banks will be sympathetic at all if the visibility they are seeing (that the shareholders are quite clearly not) shows bad news incoming or continued bad news.