Member Info for Oi_Oi_Savaloy

When it's written like that Barcus.......I can't understand why they haven't done it already. They wouldn't have pesky shareholders asking awkward questions, it wouldn't matter about their Israeli domicilty or their lack of transparency (on certain things, or in the past or both) or the issues around the withholding tax. Makes no sense why they're on a public exchange tbh....but they are and we're invested!

Thanks for that insight phenomenonnick. I'm not going to invest directly into KCR but I keep a v close watch of what's happening as I'm heavily in Energiser/Drumz.

Yeah - I agree there's very little to entice them in the market at the moment - there's no point buying a cmc equivalent as it were; they only bought that US brokerage for the licence - Plus want to leverage their own platform (literally no costs adding customers, apart from the marketing spend). I think they'll keep on with the share buy-backs and perhaps....maybe...if we're lucky, give us a special dividend on top of the regular divis, to keep the peace and offset the disgruntlement and grief that holding on to this share provides! (so in actual fact they wont provide a special dividend as the management clearly hate the share holders and couldn't care less about us.

In the case of this share, past performance is definitely no guide for the future.......it seems to behave abnormally for me - I just have to keep telling myself that I invested in this share because I felt it had long term growth and some dividend action......but I got to be honest - not enjoyed the (unnecessary, in my view) ups and downs along the way.

Whisper it but can we breach 60p I wonder....?

They could take it down to 2 or 3p then?

A bit like the U&I purchase (£190m) recently announced. I think what has changed sentiment (in terms of buying a development business rather than building one up, as it were) was one of the banks saying they're to get directly involved (50,000 houses or something). Legitimises buying development companies (if it's good enough for them etc etc).

I just feel that Plus will always suffer wider swings on news.....whether good or bad.....will drop quicker than her peers on bad news and recover slower on good news because of the loss of trust that has taken place with Plus over the years (and the fact that it's based in Israel and all the other reasons that have been explained by many on here already, in previous posts). I'm hoping the next dividend will reward my loyalty......but possibly not....!

It seems to have had the opposite effect Optimist? I'm confused by this share......should be going up than down?

156,000 shares bought in one trade today.....haven't seen a trade like that (other than when our secret seller jumps in and trades) on the positive side of things.....for ages. Hope it bodes well.

Exactly as I said on 5th October (regarding costs)......apart from that I thought it was a positive trading update, in as much as there wasn't anything shocking within it (apart from the costs going up.....but we sort of thought that anyway - you only have to try to buy anything anywhere these days to see that prices have risen - building companies are not immune to those rises).

Someone or some company is persistently selling INL at the moment. Everytime there's any momentum.....it's nipped in the bud pronto sadly.

I'm not sure that Basildon thing is as good an RNS as initially thought. It's effectively a build contract, nothing more. It's £408psf around there.....build cost will be £200psf+ (for a mix of houses, apartments - the commercial will be shell &core, capped off services, chevron hoarded so less to build). It's just not that exciting imo. Will all depend on the build contract terms, and when they were signed. costs, compared to just 4 months ago.....have gone north......and there's no sign of that trend slowing down. They need private house and apartment sales, on their own contracted land or news of sold sites, that are owned by INL to generate good news, imo. These JV's with, effectively, affordable housing companies (although Homes England is not an affordable housing company as such - but it's emphasis is on 'the greater good' not a dividend for private developers shareholders) - INL can't be seen to be rinsing the site because of the bad PR that will generate.)

Madikwe - just to clarify a couple of things. I confused things with mentioning my deal at the end of my last post, sorry, there was no need to mention it, it just got in the way. PPA's are usually 10 years (and lots of times but not always, they are effectively a 5 & 5, with a break in favour of the developer at 5 years - so the developer can cut their losses). Henry Boot will have employees (planning, technical, project managers etc) that will work on maybe 5 to 10 deals each, perhaps more, depending on the anticipated complexity and timeframe for each deal. They're able to do that because there's usually very little conflict (particularly of time) between each job. They are carefully mapped out.....and things take absolutely ages in planning, It's a painful process.........and there is a huge amount of risk. There are no guarantees of success at all.

Just to give a bit more clarity to Vlad's discussion with the FD of Henry Boot. Planning permissions run with the land, not the applicant. Anyone can make a planning application on anyone else's land, right now, if they wanted to. You, me, anyone, on anyone else's land. No one is stopping you. But the planning permission that you paid for would be awarded to the land you've applied for it on (and therefore the benefit of the owner of course). You'd have paid loads of money to benefit someone else. So a PPA is simply the ability to have a legal interest, without a transfer of the land (and the costs associated with that) taking place, in order for you to have the security/knowledge that spending £600,000 isn't going to end up for nought. Even once planning has been granted it doesn't automatically transfer over to the developer. It's up to them what they do with it (trigger completion and build it out or try to sell it on in the interim after planning - you might have already been trying to tee it up to sell it prior to an expected positive planning decision of course.) I'm actually having a proper look at Henry Boot; I've just exchanged on a deal this week (Option agreement for 36 months - long story but there are some planning issues that mean we might need an extra 12 months over the usual 24 months timeframe for these sorts of deals). We didn't pay any option premium upfront but our commitment is well over £300k for the anticipated planning permission and then we'll decide what to do once we get planning - build it or sell it. I'm just trying to give a bit of clarity to people that might not understand the nuances of what a PPA is and why that land is deemed 'off-book' - they have a legal interest in it but don't actually own it or sell it until the value has been created by the planning permission.

Strictly - let me do some work on some of the sites they've got (or previously sold) and come back to you. The problem with PPA's is that it's a fixed margin (because the land is valued in the present day, not at the point of agreeing and signing the Promotion agreement, with the owner). There are other nuances but let me have a deep delve and come back to you.

I'm guessing, at this stage, the Boot will flip/sell their sites in the majority of cases too. I'll have a look and confirm my thoughts in due course.

The land owner only has to invest their time Madikwe. The developer pays for the legal agreement and all planning costs. That figure is usually capped too (but there should be enough headroom). Once planning is captured the consent is valued and a residual land value generated (but only once the developers planning costs have been reimbursed, as part of that valuation.

What's the split between land that is Optioned and PPA's Vlad? Options are typically 2 year deals (with an appeal clause) and are usually used where the land in question has a good, short-term chance of capturing planning). PPA's are usually 5 years (sometimes) but usually 10 years and are for opportunities of a longer-term nature. planning risk (you might have to get the land into the development plan before you can actually go for planning). We usually try to agree promote agreements (PPA) on an 80/20% split (so once planning has been achieved the planning consent is independently valued and the owner receives 80% of open market value and we receive 20%, after our costs have been taken into account too of course.

Hi English Patient, welcome to a test of, well, your patience tbh! If you're in for the long haul INL is it. If you're looking to flip it constantly......not sure this share is for you! I'm a long term holder here.....hoping, hoping that something will happen eventually.

Workspace Group has sold 13-17 Fitzroy Street in the Fitzrovia district of London’s West End for £92m. - just announced by Property Week - thought I'd share it.