Member Info for tomtom86

Anyone thoughts on this one?

You would think that they have funding from one of these entities below sorted, for them to take this step RE: the director resigning and mentioning all that detail in the PR.

I am assuming they are waiting to see if further schemes close and will only call for funding if their cash flow becomes critical. The scheme that reached financial close must have given them a decent amount of time to play with.

"Stephen is Chairman and shareholder of Wildlife Group, a company which is a potential customer of the F1 Modular business and he is also Chairman and shareholder in Partnering Health, a company in which Ashley House has a 33.3% stake. Following the announcement by the Company last week, Stephen has been advised that conflicts of interest may arise by virtue of the Company considering certain funding solutions and that these potential conflicts are best avoided by his resignation from the Ashley House board"

Can't see this one mentioned previously? https://www.ashleyhouseplc.com/bridport_extra_care/

Now another financial close or two would be welcome and confirmation if we are going belly up or not.

I was hoping for some positive RNS's off the back of the budget review from the govt, end of austerity and all, but no doubt these things take time (years I'm guessing) to actually click into place.

One day Rodney...

She could finance the mine, you are correct.

However she will leave existing shareholders with next to nothing.

She's not going to save you by taking on all the risk and then still let you have your slice of the pie afterwards.

Casa - much appreciate your time to reply here. Enjoy the swim.

Many thanks for this information. Currently sat on the sidelines after being spooked by the bond sale.

Almost got back in yesterday on the RNS, but couldn't fathom it out...

Basically Citi still have a (relatively for them) small holding, with the option to more than double it IF the funding comes through... so not really a big vote of confidence and more a very nice trade for them?

Are you out of this for good or waiting to see what happens?

Cheers, enjoy the US.

LL - do you mind if I ask what your take is on the bond delay? Are you still invested here?

Sorry, I meant a sale of part/all of PHL.

"After 28 years' service, Stephen Minion, one of the original directors and shareholders of the Company has stepped down from the Board of Ashley House plc with immediate effect. Stephen is Chairman and major shareholder in Invescare Limited, a company that has an outstanding loan to Ashley House. Furthermore, Stephen is Chairman and shareholder of Wildlife Group, a company which is a potential customer of the F1 Modular business and he is also Chairman and shareholder in Partnering Health, a company in which Ashley House has a 33.3% stake. Following the announcement by the Company last week, Stephen has been advised that conflicts of interest may arise by virtue of the Company considering certain funding solutions and that these potential conflicts are best avoided by his resignation from the Ashley House board. Stephen continues to be a shareholder in Ashley House, he remains fully supportive and will continue to work with the Company as a shareholder and through its relationship with Invescare, Wildlife Group and Partnering Health."

'Certain funding solution' that obviously implicates one of the other companies... so either a recall of the Invescare loan, the sale of part/all of the Invescare holding, or a loan from Invescare (makes little sense if they have an outstanding loan though). Someone else's take on this would be welcome though.

Cheers

Well it appears not...... but this is the opposite to what I am reading about the wider bond market.

I'm out, GL to all holding this one.

At this late stage, is there any chance that the arse falling out of equity markets this week/today will see our coupon come down on the bonds?

You'd think the flight to bonds / yield might provide some opportunities, but I don't know if that ship has already sailed, or we are really that unattractive that nobody would be interested below 13.5%.

“We’re proud to be partnering with Rhondda Cynon Taf Council and F1 Modular to build the firstmodular extra care scheme in the county.The progress made so far on the build has been great to see, and with the last module now installed,the extra care scheme is really taking shape. Using modular construction, the rate of development is far quicker than using traditional buildingmethods, and we’re already considering how we can use this method again in the future."https://f1modular.co.uk/wp-content/uploads/2019/05/Linc-Press-Release-13-05-2019new.pdf

https://bdaily.co.uk/articles/2019/05/13/leeds-city-council-joint-venture-submits-plans-for-new-and-accessible-elderly-homes

Same, no nothing yet. Going to give it a few days then get in touch with them.

"Sirius are able to call the bonds after June 2021 at 150%, or 28.125p. So that is the top share price that can be expected until the CB tranche (2.1bn shares) have found homes."

Assuming that's correct (further input would be great!).

That's +68% max in a little over two years from today's price, which doesn't seem too shabby to me.

I guess assessing the risks between now and then, PPVN has decided they are too high for the reward and they would be better invested elsewhere in the meantime.

Stumbled across this, may be of interest:

Ashley House Plc. Framework

RLB has been appointed as Employer’s Agent on a framework by development partner Morgan Ashley, with its first commissions providing care home and extra care facilities for the elderly in both Yorkshire and North East Lincolnshire. The framework (a joint venture from Ashley House plc and Morgan Sindall Investments Limited) includes schemes in Grimsby and York and four schemes in the Leeds area.

https://www.rlb.com/en/news/2019-04-25-rlb-appointed-on-batch-of-frameworks-across-yorkshire-humber/

Good to hear someone else fell for the same trap haha!

If it drops down to 15's again I think I'll scoop a few more, but I'm hoping the only way is up from here. Seems like value to me at least.

True. I waded in at 17's yesterday though naively thinking the raise could be at the top end and the SP would rise today... hahahahha, how fucking stupid of me huh?

So think I'm done on this for now other than my OO. Average will be approx 22p then so the dream is still alive, in part.

* assuming SP is above 15p before OO closes and they buy to sell.

Anyway, I take it there's no rush to accept the OO? It makes sense to wait just before the deadline right?

I'm also guessing the SP will crash after the OO as well, as anyone who has bailed out post raise will likely just sell their OO into the market?

I'm learning a little through the pain of this at least.

Why favour II's over PI's though? Probably volume? Probably logistics? I bet it could be done with today's technology though but they don't want it to happen.

I would have doubled my holding yesterday @ 16p, 17p maybe even 18p. I'm sure a lot of others would have too. Seems like 15p was a behind closed doors job and us getting a tiny % of our holdings is total BS. Completely unfair representation to increase shares by 20-odd% and only dish out 4% or less to PI's.