Member Info for stokest

John

Good to see you back.

You make a wonderful contribution as do others.

This is quite a unique company as it totally avoids both publicity, brokers(almost) and forecasts.

To me it is a little gem and I recently added after the ‘deep dive’ article.

I will add further when funds allow.

Probably get taken over but the two non defence parts may restrict the predators.

One to just lock away.

2 MKS stores have had 4 charging bays installed.

Nobody uses them and only impact is loss of normal parking spac

Profit best re-invested in buisness. Will help grow NAV.
This IMO is an extremely well managed company and should achieve its aim to double in size from September 2021.
I feel this is a long term hold when holders should be richly rewarded by growth in NAV.
LTV self-imposed limits are very conservative but does give them considerable room for land acquisition when the opportunities arise.

Sain
The Furlong family plus chairman have reasonable holding together and I reckon were chief influence in to day's capitulation
I read chairman's statement and sounded very hollow.
'Take the money and run'
As a shareholder I feel cheated and short changed.
If you look at my last posting I had totally lost faith in co and especially chairman.
I had 210k shares between ISA and ordinary shares. I sold 60% over last 12 months and it was only CGT that stopped me selling all.
Sad for ISA holders as they have on redress for losses and a shabby way to treat shareholders.
I hope a counter bid comes forward but who knows.
Will pick up a few Inland Homes as I think they will also be taken over.
There were some wonderful posters on here including yourself, who I learned a lot from so thank you.
Best of luck

No point in employing him unless you let him do what he was employed for.

Sain
I am afraid JDS is following Trump in the 'good' news stakes.
I sold a large chunk of my TEF last year as I felt they had lost their way and to day proved that to me.
His reputation and that of company is currently trashed and any premium they enjoyed over NAV has gone as they don't deserve it.
It is an East End company and to so badly miss judge their dealings with planners places major questions over their judgements.
They have spent last 3 years buying sites and can't sort out planning.
All they are doing is incurring carrying cost, professional fees plus their time.
No wonder they can't see the wood from the trees.
Who would want to partner them?
The final straw was City North.
These boys have lost their way Are they a developer?
Are they a builder.
You could hardly call them good at site acquisition and planning.I do not consider them an investment and certainly not for ISA unless you want to work to 100. I don't think TEF will be there then.
Sad turn to a company I once held in high regard.
The Furlong family must be destrought as are the directors,who hold large shareholding.
They need fresh direction and I do have my views as to where the weakest link lies.
Very sad day for all us shareholders and NAV may not even prove to be the base as trust has been hammered.

Spain
Will hold off until Brexit has been resolved.still have quite a few tef as CGT was too heavy to sell complete holding.Am reasonably liquid and it is more a traders market than investment. I prefer investment as I don't seem to be able to time my purchases. Even if Brexit was resolved it will take time for market to settle down after an initial bounce.
Impossible to second guess the fall out both economically and politically so will sit on fence regarding try.
At least we have the dividend coming.

Sain
This has tef DNA all over it.
Geographic location.
Number and size of units.
Price bracket.
Bonus planning permission in place.
Maybe it reflects how tight their financial position is.

Spain
You would be better off dealing with Ghengus Khan.
Just a forerunner for how like will be once Labour come to power.
That is why I have sold most of my holding here.
Sadly house builders are in for a tough few years.
I witnessed it here 2007-2009 when a profit turned into a large loss.
I was fortunate to have bought heavy then and I do not want a repeat performance.
I know many posters here are ardent TEF fans but there is a time to let head rule the heart.
This is a good well run company but sadly you cannot swim against the tide.
BTR is a good concept but it is a buyers market so there will be margin erosion as it is virtually only game in town.
The wording of TS did not help but it merely accelerated the decline.
There will be a time to return but for now good time to be liquid as Brexit will cause great anxiety and especially to domestic focused AIM shares.

The content was as I had expected and fortunately had taken quite a few off the table for following reasons
1 portfolio too heavily in one AIM share
2 government legislation has damaged the market badly and will make it worse if a further surcharge is imposed on foreign buyers,as eluded to in ts.
3 Brexit hangs heavy over aĺl investments,including home buying and no one who We when that will be resolved.
4 we have an unstable government and the prospect of Corbyn in power so a time of great uncertainty.
5 interest rates will rise to follow the Americans.
I read to day's ts as a mild profit warning and only JDS knows what the profit figures for 2020 look like.
Would I buy I remain a seller.

Totally agree. I was a very disappointed remain voter and said so here. The way the EU have treated the UK is like the school ground bully. I now think we would be better off out of EU completely and a hard Brexit is only way as you cannot negotiate with a part who believe they hold all the cards. The Irish are being used by Barnier and sadly they don't see it. A clean break will be chaotic initially for the whole of Europe but those with most vested interests will them quickly come to the table and then UK can negotiate a sensible deal probably without Barnier. It will be zMerkle and Macron aided and abetted by all northern European countries. Currently it is not a level playing field and Macron is using the situation to take city jobs to Paris. Merkel is staying very quite but probably very unhappy with potential impact on her economy plus Trumps tariffs on their auto industry. Time for cool heads not loosing the bottle and government must not give any further concessions. If they do we will all pay for it. Save £39 bn otherwise we will be the laughing stock of Europe and we will have Corby in no 10 A 2n Referendum would only cause more confusion As a democrat I believe the result must stand even if I did not like it. Remember after we leave we can vote with our feet no more German cars or French wine etc lots of choice and government could instigate a campaign to buy British.

Sain I am concerned with TEL ability to create major link up in BTR partner. I have been reading about Greystar's preference for modular buildings. This seems to be their preferred system. They are not alone in that view. It is a buyers market and TEF are clearly finding it difficult to nail down a deal. It worries me as with private sales being very diffult to achieve our existing contracts will run off with little in pipeline. I am concerned about 2020 onwards. I have reduced my holding and spread my risk into mainly technology area. Sadly I do not have as much knowledge in this sector but have had reasonable success. Best RWS.

I am afraid we are dealing we a nasty bunch,who believe they have UK over a barrel. Delmar and Barnier are a pair of bullets and think their chief function is to screw UK and of course make sure nobody lease wants to follow to exit. There is only one way to deal with these people is with a very hard Brexit and drop out with no deal. This will not suit the other duo Markle/Macron.But it would certainly hurt them badly as it would the whole of Europe and UK worst. At least we won't have to pay £39bn or even more. I was a remain voter and I am not UK citizen but I think the way the EU have treated UK is a disgrace and this is supposed to be an negotiation but sadly the take all they are offered but no reciprocation. I think this strategy would provoke lots of whining from the German and French owned companies Airbus BMW and Siemens egged on by their governments. Let them off the potential by loss will bring the various power hungry leaders will change their tune. Donald Trump is right UK has been far too generous to EU. To day we see a drunk Junker falling around before the NATO gala dinner I would hate to see him after but Trump will have seen the behaviour of EU leader and further undermined his opinion of the institution. There is far too much fear in our leadership and it is time to stand up to the b......s. This situation will not do TEF any good and we will go through another 3 years with no share appreciation. We may have good management team but sentiment and confidence is totally against sector.

Sain Still have most of my long time holding. I went through last downturn and even topped up at 25p. I do rate JDS very highly and people have to live in homes. TEF operate in very good area,which they have a great reputation and great market knowledge. Their gearing is significantly lower than 2009 and totally different company. I hope local elections will bring some normality to LBTH. The 2 sites have tied up large amount of funds,time and fees. Hopefully they can move planning forward and either develop or sell to BTR market. Grainger results gave very positive sentiment to BTR and there is a very strong market in right location. I may be a glutton for punishment but I am retaining majority of my investments in TEF including my ISA's. Maybe there may be re evaluation after results but AIM sector is attractive at my age. The development sector has reached a cross road position but time will heal the problem but how long that will be is the 64k dollar question.

Share price is minus 1.93% over past 3 year period. Difficult to see turn around in short term. Major purchases in their patch recently so competition will get stronger. Good management but it is the SP that is important for investors and there is little reward.

Terrace This board gave details of planning issues in TH. That is at the front end of developments and after purchase and huge fees. Couple this with the problems of selling property and the gloom and doom that exists in the economy I am afraid TEF will conserve on dividends. I am in since 2005 and saw shares fall from £4 to 25p. I do not expect repeat put would not be surprised to see further retreat on share price. At best TEF are a hold and judging by past experience a pragmatist would sell part of holding and wait to buy back at lower price. Many here are great TEF loyalists but we must not fall in love with our holdings. There is a time to be in property shares and now is certainly not that. I think we have good management but after referendum I was very gloomy and I remain so.

Spain Grainger published their results this morning and reported a 4.1% overall like for like rental growth.They have a new BTR development in Canning Town 134 apartments with 40% let at c3% above forecast rentals Positive for TEF potential PRS sales. Grainger have mainly being buying outside of London and are focusing on new purchases in nth England. The changes in taxation will favour BTR corporate investor as it is obvious the government will drive our private investor. Now the Greystar have resolved planning issues with their major Croydon development let's hope they can sort out Nine Elms and that will give TEF considerable profile. PRS sales are difficult as I think it is a buyers market but it is obvious TEF are on a de-risk policy strategy and with the contacts of the new directors it all points to JVs partnerships and BTR and I expect them to use their expertise in dealing with planners together with their development skills to make them an attractive partner for a variety of investors. I agree with Terrace I think now may be a buying opportunity and with low gearing and a sizeable uplift in profits plus a dividend of c9.5p there is a good chance of a 10% uplift by end of May.

Sain You must have spread confidence as a purchase of 75000 @ 4.10 after close

Sain I would not like to see TEF doing any tie ups with other developers at present. Friday's big drop did not affect the fuĺl listed cos. The smaĺl cos/AIM always get hammered when there are negative signs such as Brexit last year and now possible interest rate rises. TEF is in good shape now as against where it was in 2009 and lightly to be debt free by interim results apart from project finance for City north plus one other small liability. Site values will fall and effect the sites purchased earlier this year but hopefully they will be sold on to PRS sector. We face very uncertain times with a cocktail of Brexit,rising inflation,interest rate rise,weak goverment,lack of confidence in market and possible recession and the treat of Corbin in No 10 TEF heading to be cash rich and in a position to pounce on 'cheap' sites when the market shows signs of turning and may take a few years. Maybe then can look at U&C. May sound pessemestic but as a shareholder since 2005 The co has always been undercapitalised and now is the time to build up the war chest while the competitors return capital to their shareholders.

I certainly don't want to see another placing,assuming they could manage to find investors. Last placing at 360 in 11/15 was not a success for the 30 investors who coughed up 50 m and have only recently seen a premium. Last placing went down like a lead baloon and the share price never recovered. I don't think the directors,who are waiting to exit would be in favour. As Sain says strike while iron is hot so they will no doubt sit down with their club bankers this year to discuss the 180m but don't forget they also have 2 other banking facilities and they will all be aggregated. I have no doubt JDS has a good relationship with the banks and I suspect the FD is also highly rated so in good hands.