Member Info for Raleigh

Taylor Wimpey.

House builders in the market driving seat today, on the read-across from Crest, with investors seeing value in the others, particularly Persimmon.

A bit more on Boomin.
https://thenegotiator.co.uk/boomin-finally-lifts-the-lid-on-what-its-actually-going-to-be/

https://www.insidermedia.com/news/north-west/redrow-homes-looking-to-advance-preston-plans

Little acquisition.
https://www.buildersmerchantsjournal.net/sig-buys-sm-roofing-supplies/

Today's price action may indicate investors are beginning to see value in housebuilders - and from a historic perspective Taylor Wimpey's price should in my view represent particular potential. It is difficult to see how it could fall much further now. We await update.

JPM have cut the price to 615 - but that remains a substantial upside target. A positive outlook in their opinion.

imagine site managers have a duty to reinforce and promulgate changes in govt. guidelines on safe practice
https://www.constructionleadershipcouncil.co.uk/wp-content/uploads/2020/07/Site-Operating-Procedures-Version-5.pdf
So now seems a natural time to review.

Confirmed: Housing market stays open during national lockdown

https://www.estateagenttoday.co.uk/breaking-news/2020/10/national-lockdown-agents-left-without-guidance

And EU and GB Covid economic recovery policy is substantially reliant on construction support initiatives......

New lockdowns in the EU and parts of UK exclude construction. It seems highly unlikely England will diverge from that.

I am not aware of anything within the company's control changing for the worse (or better)
I had no expectation of any early information in that respect.
There are issues to address ( including Covid like everyone else , with better working practices ) of which C D and R , following possibly 2 extensive rounds of due diligence are aware. And IKO were content to support the capital raise, at the same price as many.
Any recent investment here must be on the basis that the new set-up can turn the company around.
My interests remain aligned with those of the major investors, particularly IKO, who had no 25p shares. ( I have improved on that )
The fact, of course in hindsight, is that I invested too early and at prices I could have bettered.
I shall wait it out.

Because all the algo's bought it up, then sold it down

3 PDMRs adding £125k worth at market price. That's in addition to the £155k worth added by them and other PDMR's at 40p back in April, as part of the £22mil raise. They paid what was then a premium to the price. Hopefully it will work out in the end.

I am ambivalent about that. Buy-back may be of greater advantage to larger holders tax-wise, but provided they are done at a lower cost than ' the future share price' there is benefit to be found in increasing the eventual eps.

Yes. Not a disappointment to me, anyway, with the actual revenue from sales being spread into the future ( 3 year high on commission pipeline, subject to fall-through ) And as they appear to see it, they continue to de risk the general economic uncertainty of the sales market, by going further into lettings, partially on the basis I presume that there will be inroads into Covid with students etc returning before the economy revives.
And debt free.

Planned for the former RAF Newton site near Bingham, the Newton Garden Village is the latest project for Redrow Homes East Midlands.

Following approval, the 58 acre brownfield site is set to be transformed with 528 homes, which will be between two and five bedrooms.

https://www.nottinghampost.com/news/local-news/garden-village-500-homes-set-4627988

https://www.miltonkeynes.co.uk/news/people/developer-plans-73-new-homes-green-space-milton-keynes-estate-3015469

An outright knock down sale of the company was one possible alternative to the capital raise, in the event cornerstoned by CD and R. There will be many investors ( IKO being one ) not posting here with averages well over say 60p, who would like at least to see their cash back at some stage.
There will be those buying in more recently who will accept/embrace a bid and relatively quick profit at whatever level, and move on. Others will have higher hopes with CD and R as a long term supportive shareholder.

https://www.theconstructionindex.co.uk/news/view/later-living-developer-picks-nine-building-firms ( including Vistry )