Member Info for Yawksha

Tomorrow, 23rd April

" ... there is no real price discovery in UK shares anymore, the banks and hedge funds have destroyed all value for their own benefit."

I wonder how they missed (eg) Rolls Royce & Galliford Try?

Spot on G 👍🏼

Good to see Callaway picking up £70k shares today too ...

I reckon they've now purchased 4.593m shares costing £2,521,865.

Leaving a balance of £478,135 on the current scheme.

Don't want to criticise your effort Value, but Converium hold more (now 6%, see RNS 8 Jan '26). I haven't verified your full list.

I know all stated holdings weren't purchased in one chunk, are you easily able to add price paid / total investment, which would additionally be very illuminating.

What's a fact is that as the SP has recently drifted, no one has been significantly divesting.

As long ago as 4 years now, Converium started making noises about selling Foxt.

At the time they held 2%, which through subsequent steps has risen to 6% this Jan.

Foxt apparently engaged with Rothschild in Apr '24, but nothing ensued.

Oakley, Connells, LSL & even Savills have all to some degree been mooted as possible suitors.

For me the one thing that's gone quietly unnoticed was the appointment of Panmure Liberum this year. No explanation why, and with a company led by the indomitable Ricci, expect action.

So yes, no smoke without fire, but it is taking an awfully long time to ignite, and the chestnuts remain well overdone!

Aberforth have taken their holding to over 15% after purchasing another c.2.25 million shares.

But yet the decline continues ... This won't and can't continue.

Under 2 weeks to FY'25 results, and presumably some indication as to current trading performance and outlook.

That old chestnut! Can't see it personally, but stranger things.

I'd agree though that '26 is showing some green shoots.

And we wait ...

Interesting on a number of fronts, and explains some of the off book transactions conducted recently.

More significant though (if I'm reading things correctly), that given the acquisition threshold was reached yesterday, then who on earth has been active to such a large scale today?

Without a doubt ...

Picking up on Stups point re: buybacks.

In the current scheme, over 83% complete, just over 4.5m shares have been purchased at a smidgen under 55p a share.

Again mindful of hindsight, but the timing & execution has, in football parlance, left a fair bit out on the pitch.

Even in this crazy market I'd be amazed if this fell much into the 40's. Fundamentals just too strong.

But, someone's been divesting today and that's very contra to the action since the update.

More going on than meets the eye, where's the true conspiracy theorist (5eights) when you need him (or her)?!

You're right, but hindsight is a great thing.

It's not had a sniff of the 60's effectively in the last 6 months (post capital markets day).

There's often no logic to many SP's, and in this case sentiment appears to be holding sway in keeping it in the doldrums.

But, someone or somebody continues to acquire in the background and the joint broker announcement must have been for a reason ...

Happy? Mmm ...

We're 10% down since the trading update.

Acquisitions like No. 9 buses, none for 18+ months then 2 in a week!

I wonder what it'll take to shift the SP ... The property market seems to be a potential beacon in the economic gloom of this awful government.

Seems more likely to me that expansion out will win over someone swooping, despite sain's sentiments ... Which would result in slow & steady growth towards the Capital Markets aim of £50m profit.

In summary, happy with the strategic moves & likely forward market conditions, but frustration in that I don't see how that makes us rich quick!

And to me, on this basis it appears a better deal than what was paid & received in comparison to the Haslams & Imagine acquisitions some 20 months ago.

Fleetmilne website also states "We focus on a niche market and do it expertly. With a portfolio of over 2,000 fully managed and Build-to-Rent apartments, ...".

They also only currently have 38 properties for sale. The clue re: value might be that 2 of those properties (both STC) are in Wolverhampton & Sutton Coldfield. Due diligence must have occurred to understand and scope the significant wider West Midlands opportunity ...

Very much as expected then ...

The acquisition foothold into MK should give great opportunity to extend the footprint all the way along the M1 corridor towards Northampton?

But not unexpected. Winky substantially down at the bell but subsequently ticked back up. I'd expect Foxy's to wholly mirror this tomorrow. There's been little volume recently and the price has marginally drifted. Not much to get excited about re: growth in the UK economy but as Sain suggested the all launch pads are ready.

The appointment of new joint brokers possibly suggests more than them just transacting share buybacks!

Agreed.

2% share then, 6% now.

SP on 15 Mar'22 was c.36p.

That's nearly 4 years ago; they, like the rest of us are displaying considerable patience whilst upping their stake.

Tick tock goes the clock ...

Maybe, but that hasn't stopped Converium Capital upping their stake from 5 to 6% 👀

And why? Full year results are scheduled for 5/3/26, which replicates last year.

It'll be interesting to see what the market makes of the update; it was clearly suggested in the Q3 update that Sales were likely to lag expectations towards year end (which they surely have), and there's nothing evident to me that suggests it's picking up (yet). The second tranche of share buybacks is virtually complete, but no acquisitions have occurred since Haslams & Imagine 15 months ago.

All in all, it's quite likely that Mr market will mark down the SP imo ...