The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Hope you are well etc, Not been active share wise for a while, although I am at the moment on a downward spiral with an oil share, not critical but annoying. Been an interesting year, am finally getting organised, will be ready to sell up in the spring, the urgency now is if the demented nationalists finally sink Scotland. Sell up and get out, I am not the only one that thinks escape! The Millwall report arrived the other day, will have read and get back to you. ATB
If this board is as dormant as the previous one, will try and keep a thread alive! Not really had time to look at MW, although the debt position, if it continued at the same level over perhaps five years or so, and JB exchanged debt for shares, not good! Though the increased land value might balance things out. Still a "Rabbit out of the Hat" kind of thing within a few years before the debt gets out of control. Remember 21% of the shares were outwith the control of the BODs when they delis-ted. Why did the shareholders hang on in? In my case it was always a punt! Try and work out a value for the share, and hang on in no matter what happens. Will look in on this board once a week or so. ATB
Thanks for the information! Had a quick read, there was one part that causes concern. The redemption of loan notes converted to shares then valued at £30 and £40 per share. Also the loans at 10 and 15% fro CHV, with running debt on this scale, and no significant increase in income, interesting and fraught times ahead. Also the council and Millwall are having a dispute over a small property that the council wish to give to the developer, at least there is some action. Did not like the clause near the end that referred to share issues etc to raise funding, dead end for the small PI I think ATB
Hi All! Will try and look into Millwall, have a bit more free time at the moment, might find some other punters that have an interest. Just on a number thing , 21% at the time of delis-ting was still outwith the control of the BOD. No great money has been spent,second lowest budget for the championship, and surprisingly they are hanging on in with a good chance of a mid table finish. There might have been information for shareholders in some form! but I have not come across anything. As it will soon be a year since delisting, will write to the BOD and ask if we can expect any information/future prospects/takeover etc. Did read somewhere about planning being applied for adjacent to the development. Have read up on some supporters forums , and there is a minority view that the team will decant to Essex or whatever. That is the scenario that I subscribe to, everybody would win (I hope), the council would be better off with the income/rates from perhaps three hundred flats. It has taken a long time to get to this stage, the only plus is that JB can sell instantly, if some mad millionaire popped up looking for a vanity thing. Other teams get taken over by ex Dictators, Russian Mafia, and hapless Asian Billionaires, alas poor old Milllwall is in the remainder bin! ATB and good luck.
The BOD said we were all going to get share certificates issued,then said they could be held in Crest for ten years, that is where the confusion comes in. My share certificates arrived very quickly, even the 100 I bought in the last seconds of trading. If you check with the Broker, most likely your certificates are held in crest. Hope you get a solution quickly. ATB
Hello Bonz. I thought this share would be a three\four year deal, I have now revised the time to perhaps "Ten Years". The holders of the 21% still not owned by the BOD (allow perhaps a couple of % owned by small PIs) could have sold\offset whatever, but they have hung on in. Have not got a clue re the turn it will take. The council (so far) have been nothing but helpful etc, so future help is possible, perhaps relocation of Stadium. When you realise how many flats\apartments etc you could build there, the council would be better off with the rates. The decision to relocate is completely a council matter they can rubber stamp it and even provide the land to relocate the Stadium. ATB
Now that Millwall should be more or less solvent, perhaps it could be floated on the Hong Kong Exchange. The investment needed for a great leap forward ,does not seem to be coming from the BOD. The board have brought the company up in the sense that it is now perhaps a marketable product and packaged to sell. Even with the undoubted skills of the management, be difficult to sustain momentum with an average gate of ten thousand ish. Better to sell on when the company is solvent ATB
http://www.newsshopper.co.uk/news/lewgreen/9782610.Plans_for_Millwall_stadium_development_on_show/ The above and any other information seems to come from the developers, nothing seems to come from Millwal! The added value of the land, should make it easy to borrow money at realistic rates. So no need to ask the PIs. Still think we will get a result. The increase in value of the developement over the next few years might be so much that giving the few Pis a payoff might be ok. Nothing has been easy but we are still in the game! Not over till they are folded\Bankrupted whatever. The Club is not another Rangers (IHope) ATB
Hello Bonz\Alexas. Nothing much to report! The section 106 was passed on 5\04\2012 which should make the actual\potential asset value of Millwall holdings the envy of a lot of the smaller clubs. Surrey Canal Road railway station has an opening date of mid december 2012 Renewal came in with the cash needed. The Tenants with leases on the land , some are up in eighteen monthes, the longest is ten years . As this is a staged development. does not present any great problems(I hope) At the time of delisting, IMO there was about 21%percent of the shares not controlled by the BOD, and as long as that continues , there is still a chance of a payoff (eventually) If the Team plods on as it is, in a few years I could see the BOD relocating the stadium to a newbuild on a bit of toxic land (council owned property) and the council allowing the Den to be built on. Winners allround. Millwall has not actually ,to my knowledge, come out with any real enthusiasim re the stadium etc, and the real money was allways in the redevelopment side of things. Be good if we could round up a few shareholders, we are starved of information. All the Best
Off Topic-----Hi Bonz Beginning of the New year was bad for me ,took ill, much better now, bit of a wake up call! If you have the time , could you give some thought/insight etc into "Bowleven" it is an oil share.I am not up on the nuances, terminology, projections, flow this etc etc I remember you being quite down on these type of shares, so your observations will be interesting for me. I do know a couple of people who bought in big a couple of years ago, they are siting on at least a 70% loss. If you could find a little used board, might try and revive the "Millwall" board under another name. ATB
I sold Twenty thousand the other week, and I have the same again I can shift. Am not up to speed on this one! Have you any up to date information/rumour re takeovers of Bus/coach/companies or in fact countries? The reason i ask is that I had a quick look at the "Chinese coach building scene" The only outcome i can see is very quickly they will be the major force in the industry. Quality build and any specs you wish, and the volume in a short delivery date, must mean that "Alexanders" cannot compete on the open market. If stagecoach can buy into a few countries, and put their own kit in, that perhaps would still make "Alexanders viable" As the labor costs in "China are so low" it pays to have assembly plants in targeted countries, then undercut the existing suppliers. The Chinese vehicles are already selling well in the USA, meet all regs and more. While "Alexanders is a good little company,good product etc. Cannot ever meet like for like re volume. I do not think it is even seen as a threat etc to the "Chinese companies" in that they would ever buy Alexanders. Volume discounting on the open market, will finish Alexanders" I think Alexanders were bankrupt when Suitor bought it, and although it is run quite well,times have moved on in the last few years. Stagecoach can function without Alexanders. But if they were to expand a bit more, would make keeping Alexanders a viable proposition. Shortly I do not think he could sell it as a Bus/coach builder. ATB
Out of touch with the day to day goings on with this share. was going to sell about half my holding , beginning April. Can hit 220ish then sinks. I need to cash up this share in August for something else. The ideal for me is to hit 250 sometime in July, but I don't think there is more information till late summer. Any views on subject welcomed. ATB
Re the £10 . Perhaps in time this will be seen as a very sharp move by the management. It is and never was meant for the ordinary punter. Unless it takes a massive drop soon, I will just wait and see what happens, perhaps another consolidation!
Hello Bonz. I am still sitting on a good profit on this one. In fact enough to cover myself if a certain other share goes down the tube. Normally I have no qualms talking about my :Tactics, strategies,volume,loss, gains whatever, as honesty can show up your ignorance(not knowing of facts etc) of a situation. And in doing so,people like your good self and others,if they can, and in good spirit, give opinions and advice, which is the life blood of this game. Re a certain other share. There was always going to be a slaughter of the innocents(sounds a bit biblical, but I think you will know what I mean) the ordinary punter was doomed from day one( and that was years ago). The reason I piled in around the price I did , was simply, I picked a price on what little information there was, and stuck to it. The volume---so I could stay in the game, crumbs from a rich mans cake, that is all I am looking for. Remember this share, it went down to 9.75 . I followed it from 101pence down to 26pence then I ran out of money, and I have lived well off it ever since. No direct comparisons. But it was classed as a basket case. ATB