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Hopefully the regulars here will join Sain and Strictly on the Bellway board....seems a sensible homebuilder.
maybe Sain is right and it will be a blessing to have the Telford proceeds frozen for a couple of months,end of year might be even better.
Does seem smart to keep the dividend at 60% of EPS with margins coming under pressure.
Hi Rapper....Could be reduced by 50% to bring it level with their peers on a 1/3 of EPS basis.
Tom...Bellway have said today that margins are continuing to moderate towards normal levels.That will be the case with all the homebuilders so TW SP may not be quite the steal you think it is.The probability is that SPs in this sector also continue to moderate to reflect the real world.
So we now have the choice of selling in the market for 349p less fees or waiting until the end of September for 350p net from CBRE.
https://ir.q4europe.com/solutions/telfordhomesplc/2792/newsArticle.aspx?storyid=14403532
odd that TEF still trading just under the offer price after vote taken place,does that mean CBRE have won the day?.Would have expected it to drop if offer voted against.
is this the end of the line for small shareholders?.
CRST SP now below TEF,long time since that has been the case.
Contact your broker and ask them to vote your shares on your behalf
After being a holder here for 13 years,I think I am about to be mugged for the shares by CBRE.
Still hopeful?.
With most trades today,at or just below 350p,the market is not expecting a higher offer for TEF.A brave investor would sell now and vote no to CBRE in the hope that the bid fails and the SP falls back and then buy back at a lower SP>
The results today suggest that the headwinds for homebuilders are increasing in strength and we may have to get used to lower earnings for a while.Brexit is just one of the issues adding to global signals of slowing economies.
Apparently Neil Woodford has said that world economies are headed for the rocks.Will he buck the poor calls he has made I nrecent years,which have cost his investors dear,and be correct? Don't know whether investors will ever trust him again after locking them out for six months and yet still charging 100k a day In management fees.CBRE must be high fiving themselves at the , so far,non appearance of any competition for their offer.
Very little time left for anyone else to show their hand.
Ex...I have instructed my broker to vote no and like you,believe In TEF future albeit that I think that after CBRE bid that sooner or later,someone will eventually make a succe@ful bid.
Ex...the founders want to retire and dispose of their interests in the business,so JDS,Katie et al are obliged to accommodate them perhaps,So if 350p is as good as it gets,they may well think,a bird in the hand etc.They will not be best pleased at the natural disappointment of some other shareholders,but they go.Our only hope would appear to be a counter offer but we should not hold our breath.Some of us believe that TEF are worth more than 350p,but is there anyone out there with 300m or more that thinks that way?You have indicated that you have a substantial holding here,are you willing to vote against the bid if there is a chance that that a no vote might lead to a substantial SP fall?