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MINERVA - undervalued (MNR)
tammie - 20 Feb 2008 12:59
Property market out of flavour...but 4.25 to 1.25 that is an over reaction surely!
Lancaster Gate - dubbed the Lancasters is one of their projects in London. Are property prices falling in London...
From The Sunday Times
February 17, 2008
Super-rich snap up apartments in world's most expensive residential scheme
RECESSION, what recession? The super-rich are snapping up apartments at the world's most expensive residential scheme at Londons One Hyde Park as if they were going out of fashion.
According to data released exclusively to The Sunday Times, half of the 80 apartments at the luxury scheme designed by Richard Rogers have already been contracted to be sold even though the project will not be completed until 2010. Knight Frank, one of the estate agents handling the Knightsbridge development, said sales already totalled more than 500m and the average apartment price had reached 20m.
Wealthy oil barons, Russian oligarchs and hedge-fund managers are shelling out at prices that break down to almost 6,000 per square foot for the chance to own one of the apartments. That figure is up from 4,000 per square foot in late 2006.
The sales reflect Londons status as a global city, with 39% of the buyers hailing from Russia, 25% from the Middle East, 14% from Britain and 11% from continental Europe. The highest price paid for an apartment at the scheme is rumoured to be more than 100m. The interiors are the work of Candy & Candy, the interior design company run by Nick and Christian Candy, two brothers in their early thirties who have become multi-millionaires by creating fantasy homes for people with limitless budgets.
The site will have an underground passage to the nearby Mandarin Oriental hotel, where staff will be on hand to cater to residents needs.
CPC, the Guernsey-based investment company owned by Christian Candy, has an equity stake of more than a third in One Hyde Park. The scheme is also backed by Sheikh Hamad bin Jasim Jaber al-Thani, foreign minister of the Gulf state of Qatar.
Liam Bailey, head of residential research at Knight Frank, said sales of so-called super-prime homes in London worth 10m or above had more than doubled in the three months to the end of January compared with the same period last year.
He said: It is quite extraordinary the way the super-prime market has continued to surge ahead. Sales of homes worth 1m-5m have slowed, but once you get above 5m, and certainly above 10m, they are still powering ahead.
Lancaster Gate - dubbed the Lancasters is one of their projects in London. Are property prices falling in London...
From The Sunday Times
February 17, 2008
Super-rich snap up apartments in world's most expensive residential scheme
RECESSION, what recession? The super-rich are snapping up apartments at the world's most expensive residential scheme at Londons One Hyde Park as if they were going out of fashion.
According to data released exclusively to The Sunday Times, half of the 80 apartments at the luxury scheme designed by Richard Rogers have already been contracted to be sold even though the project will not be completed until 2010. Knight Frank, one of the estate agents handling the Knightsbridge development, said sales already totalled more than 500m and the average apartment price had reached 20m.
Wealthy oil barons, Russian oligarchs and hedge-fund managers are shelling out at prices that break down to almost 6,000 per square foot for the chance to own one of the apartments. That figure is up from 4,000 per square foot in late 2006.
The sales reflect Londons status as a global city, with 39% of the buyers hailing from Russia, 25% from the Middle East, 14% from Britain and 11% from continental Europe. The highest price paid for an apartment at the scheme is rumoured to be more than 100m. The interiors are the work of Candy & Candy, the interior design company run by Nick and Christian Candy, two brothers in their early thirties who have become multi-millionaires by creating fantasy homes for people with limitless budgets.
The site will have an underground passage to the nearby Mandarin Oriental hotel, where staff will be on hand to cater to residents needs.
CPC, the Guernsey-based investment company owned by Christian Candy, has an equity stake of more than a third in One Hyde Park. The scheme is also backed by Sheikh Hamad bin Jasim Jaber al-Thani, foreign minister of the Gulf state of Qatar.
Liam Bailey, head of residential research at Knight Frank, said sales of so-called super-prime homes in London worth 10m or above had more than doubled in the three months to the end of January compared with the same period last year.
He said: It is quite extraordinary the way the super-prime market has continued to surge ahead. Sales of homes worth 1m-5m have slowed, but once you get above 5m, and certainly above 10m, they are still powering ahead.
tammie - 20 Feb 2008 13:01 - 2 of 360
RNS Number:0106N
Minerva PLC
31 January 2008
31 January 2008
Minerva plc
NOTIFICATION OF PRELIMINARY RESULTS
Minerva plc will be announcing its Preliminary Results for the half year ended
31 December 2007 on Monday 25 February 2008.
Minerva PLC
31 January 2008
31 January 2008
Minerva plc
NOTIFICATION OF PRELIMINARY RESULTS
Minerva plc will be announcing its Preliminary Results for the half year ended
31 December 2007 on Monday 25 February 2008.
tammie - 21 Feb 2008 12:39 - 3 of 360
Downtrend looks close to being broken?
stroreysj - 21 Feb 2008 12:44 - 4 of 360
ive been sitting on the sidelines and finally took the plunge at 126 for a small 10,000 holding. Set at stop loss at 120 in case it goes pear shaped but looks like most of the bad news is factored in so fingers crossed for monday
tammie - 21 Feb 2008 14:40 - 5 of 360
Oil money fires up European market
Paul Yandall 20/02/2008 14:15
Middle East investors flush with petro-dollars could help turn around the current property downturn, according to DTZ's latest European Quarterly.
With Britain taking 52% of the 3bn (2.26bn) spent by Middle East investors on European property in 2007, London stands a good chance of benefiting from the cash-rich buyers.
"Obviously they've got a lot of wealth at the moment with the petro-dollar coming in with oil at record prices," said DTZ's managing director of international investment, John Slade.
"They've always been very interested in property and we feel they are looking harder, not just at property directly but also indirectly through corporates and through funds."
DTZ said the value of European investment volumes was projected to reach 36-38bn (27-28bn) for the Q1 2008, down from 40bn (30.1bn) in Q4 2007, with a recovery predicted in the second half of 2008.
Paul Yandall 20/02/2008 14:15
Middle East investors flush with petro-dollars could help turn around the current property downturn, according to DTZ's latest European Quarterly.
With Britain taking 52% of the 3bn (2.26bn) spent by Middle East investors on European property in 2007, London stands a good chance of benefiting from the cash-rich buyers.
"Obviously they've got a lot of wealth at the moment with the petro-dollar coming in with oil at record prices," said DTZ's managing director of international investment, John Slade.
"They've always been very interested in property and we feel they are looking harder, not just at property directly but also indirectly through corporates and through funds."
DTZ said the value of European investment volumes was projected to reach 36-38bn (27-28bn) for the Q1 2008, down from 40bn (30.1bn) in Q4 2007, with a recovery predicted in the second half of 2008.
tammie - 22 Feb 2008 09:50 - 6 of 360
LeFrak stake in Minerva revealed
22/02/2008 09:00
LeFrak has built a 2.3% stake in Minerva, it has emerged.
The New York developer is believed to have sought advise on making an offer.
The City believes any more is unlikely before Minervas interims on Monday. Minerva closed up 5p at 131.25p.
22/02/08 Financial Times 42 Daily Telegraph B7
Daily Telegraph | Financial Times
22/02/2008 09:00
LeFrak has built a 2.3% stake in Minerva, it has emerged.
The New York developer is believed to have sought advise on making an offer.
The City believes any more is unlikely before Minervas interims on Monday. Minerva closed up 5p at 131.25p.
22/02/08 Financial Times 42 Daily Telegraph B7
Daily Telegraph | Financial Times
tammie - 22 Feb 2008 10:42 - 7 of 360
Results out on Monday - is this pointing to the end finally of the downtrend?
amardev
- 25 Feb 2008 09:51
- 8 of 360
Well done stroreysj ...... for having the oomph for doing it before the results.
Where now? .......... all views welcome
Cheers
Amar
Where now? .......... all views welcome
Cheers
Amar
stroreysj - 25 Feb 2008 10:15 - 9 of 360
the results were no all inspiring but NAV is double the share price so not surprising it went up today. I will continue to hold but adjust a rolling stop to jump ship if there is another down turn
amardev
- 25 Feb 2008 10:18
- 10 of 360
Can't fault your strategy.
All the best
Amar
All the best
Amar
tammie - 25 Feb 2008 12:21 - 11 of 360
Still considerable discount to NAV. Lancasters update was encouraging!
hlyeo98 - 25 Feb 2008 16:18 - 12 of 360
Minerva H1 pretax loss before revaluations widens to 6.4 mln stg UPDATE - AFX
(Adds details on net financing costs; share price)
LONDON (Thomson Financial) - Real estate company Minerva PLC posted a wider first-half underlying pretax loss on higher net financing costs and uncertain market conditions, but said it has a robust balance sheet, funding in place for its key developments and a strong cash position to take the business forward.
The company said its pretax loss before investment property revaluation movements widened to 6.4 mln stg for the six months to Dec 31 from 2.3 mln stg last year. It had an investment property revaluation deficit in the period of 14.4 pct. Net asset value per share at end-December was 266.0 pence against 327.9 pence at June 30, 2007.
During the period, net financing costs increased to 4.2 mln stg from 3.6 mln last year, net of interest capitalisation of 9.2 mln stg against 4.0 mln a year ago on development projects. This partly reflects the higher net debt operated by the group as its development activities increase, but also reflects a charge for the movement in financial instruments of 2.6 mln stg.
The company said its investment property performance has been affected by weakening investment yields and deteriorating sentiment towards the broader UK real estate sector.
'The difficulties facing developers in the financial markets have reduced the potential supply of speculative developments, particularly in The City of London. As a result, our major projects in The City are expected to be delivered into a more supply-constrained environment from 2010 onwards,' chairman Oliver Whitehead said.
At 8.13 am, shares were up 3 pct at 137 pence.
tf.TFN-Europe_newsdesk@thomson.com
(Adds details on net financing costs; share price)
LONDON (Thomson Financial) - Real estate company Minerva PLC posted a wider first-half underlying pretax loss on higher net financing costs and uncertain market conditions, but said it has a robust balance sheet, funding in place for its key developments and a strong cash position to take the business forward.
The company said its pretax loss before investment property revaluation movements widened to 6.4 mln stg for the six months to Dec 31 from 2.3 mln stg last year. It had an investment property revaluation deficit in the period of 14.4 pct. Net asset value per share at end-December was 266.0 pence against 327.9 pence at June 30, 2007.
During the period, net financing costs increased to 4.2 mln stg from 3.6 mln last year, net of interest capitalisation of 9.2 mln stg against 4.0 mln a year ago on development projects. This partly reflects the higher net debt operated by the group as its development activities increase, but also reflects a charge for the movement in financial instruments of 2.6 mln stg.
The company said its investment property performance has been affected by weakening investment yields and deteriorating sentiment towards the broader UK real estate sector.
'The difficulties facing developers in the financial markets have reduced the potential supply of speculative developments, particularly in The City of London. As a result, our major projects in The City are expected to be delivered into a more supply-constrained environment from 2010 onwards,' chairman Oliver Whitehead said.
At 8.13 am, shares were up 3 pct at 137 pence.
tf.TFN-Europe_newsdesk@thomson.com
tammie - 26 Feb 2008 15:45 - 13 of 360
nice intraday reversal
tammie - 27 Feb 2008 06:50 - 14 of 360
Chartists - downtrend broken?
Fundamentals - substantial discount to NAV.
Well worth a re-read of the Lancasters!
Fundamentals - substantial discount to NAV.
Well worth a re-read of the Lancasters!
stroreysj - 27 Feb 2008 07:19 - 15 of 360
Its getting to those heady values where the profit is tempting to jump ship as still not convinced by the current rally in the FTSE. Barratts gave a very reassuring assessment of the market today so will hold a little longer
Toya
- 27 Feb 2008 07:41
- 16 of 360
I kept this little snippet from an AFX news round-up on 10 January this year:
"Chatter continued that Songbird Estates, which runs Canary Wharf in London, was preparing to offer 220 pence per share for Minerva whose shares rose 16-3/4 to 157-1/4."
"Chatter continued that Songbird Estates, which runs Canary Wharf in London, was preparing to offer 220 pence per share for Minerva whose shares rose 16-3/4 to 157-1/4."
tammie - 27 Feb 2008 16:20 - 17 of 360
another intraday reversal...c'mon need one of those 10% rises in a day soon to clearly breakout of the downtrend...and back on the path northwards.
tammie - 28 Feb 2008 11:49 - 18 of 360
Minerva plc
Notification of Transaction by a Director
Pursuant to paragraph 3.1.4R(1)(a) of the Disclosure Rules, Minerva plc (the
'Company') hereby discloses that, on 27 February 2008, the Company received
written notification from Ivan Ezekiel, Finance Director of the Company that on
that day he purchased 10,000 ordinary shares of 25 pence each in the capital of
the Company, at a price of 138.5 pence per share.
Notification of Transaction by a Director
Pursuant to paragraph 3.1.4R(1)(a) of the Disclosure Rules, Minerva plc (the
'Company') hereby discloses that, on 27 February 2008, the Company received
written notification from Ivan Ezekiel, Finance Director of the Company that on
that day he purchased 10,000 ordinary shares of 25 pence each in the capital of
the Company, at a price of 138.5 pence per share.
tangelina - 28 Feb 2008 12:45 - 19 of 360
FD purchase a +ve.
tangelina - 29 Feb 2008 10:21 - 20 of 360
From the Daily Express...'LeFrak bid hopes sustain Minerva'
tangelina - 03 Mar 2008 07:46 - 21 of 360
Chairman of the Company purchase another +ve.
stroreysj - 03 Mar 2008 08:42 - 22 of 360
well i got stopped at 134 so no longer hold. Will look at again when mkts stabilises
tangelina - 03 Mar 2008 10:14 - 23 of 360
stroreysj - you made a profit, can't argue with that, all the best.
stroreysj - 03 Mar 2008 15:33 - 24 of 360
yes can't ask for more. But will continue to watch closely as the SP is still half the NAV so once the light at the end of the tunnel becomes brighter im sure they will be attractive to someone so SP likely to shoot
tangelina - 06 Mar 2008 09:38 - 25 of 360
Amazing really that it is half the NAV and still no real interest.
tangelina - 07 Mar 2008 12:11 - 26 of 360
Any more rumours/news about bid(s)?
tangelina - 11 Mar 2008 12:20 - 27 of 360
looks like it is in a tightish trading range at least downtrend looks to be over
tangelina - 12 Mar 2008 07:07 - 28 of 360
C'mon over 50% discount to NAV!
A bargain IMHO.
A bargain IMHO.
amardev
- 29 Mar 2008 00:07
- 29 of 360
Hi all ....
Bit of Director buying today ......Dare we dip in as well at these depressed levels?
All comments welcome.
Cheers
Amar
Bit of Director buying today ......Dare we dip in as well at these depressed levels?
All comments welcome.
Cheers
Amar
gibby - 09 May 2008 10:15 - 30 of 360
i am in - bid fight ahead for upper end of mnr especially
hlyeo98 - 12 May 2008 07:42 - 31 of 360
Minerva prepared for challenging times - MoneyAM
Property group Minerva said it has seen continued good progress across its development portfolio for the three months to March 31st, 2008.
The company said in spite of challenging real estate conditions, it has the resources and is confident of achieving attractive long term returns.
The group added the building at the Walbrook site in the City of London is on track for delivery at the end of 2009. Minerva also said it continues to have active and constructive discussions with interested parties for the realisation of the Park Place retail centre scheme in Croydon.
Regarding the announcement Thursday by Limitless LLC, a unit of sovereign wealth fund Dubai World, Minerva confirmed that it has received no proposal from the company.
Limitless said it is in the very preliminary stages of considering its options regarding Minerva but that no decisions have been made.
Property group Minerva said it has seen continued good progress across its development portfolio for the three months to March 31st, 2008.
The company said in spite of challenging real estate conditions, it has the resources and is confident of achieving attractive long term returns.
The group added the building at the Walbrook site in the City of London is on track for delivery at the end of 2009. Minerva also said it continues to have active and constructive discussions with interested parties for the realisation of the Park Place retail centre scheme in Croydon.
Regarding the announcement Thursday by Limitless LLC, a unit of sovereign wealth fund Dubai World, Minerva confirmed that it has received no proposal from the company.
Limitless said it is in the very preliminary stages of considering its options regarding Minerva but that no decisions have been made.
hlyeo98 - 12 May 2008 07:43 - 32 of 360
Minerva prepared for challenging times - MoneyAM
Property group Minerva said it has seen continued good progress across its development portfolio for the three months to March 31st, 2008.
The company said in spite of challenging real estate conditions, it has the resources and is confident of achieving attractive long term returns.
The group added the building at the Walbrook site in the City of London is on track for delivery at the end of 2009. Minerva also said it continues to have active and constructive discussions with interested parties for the realisation of the Park Place retail centre scheme in Croydon.
Regarding the announcement Thursday by Limitless LLC, a unit of sovereign wealth fund Dubai World, Minerva confirmed that it has received no proposal from the company.
Limitless said it is in the very preliminary stages of considering its options regarding Minerva but that no decisions have been made.
Property group Minerva said it has seen continued good progress across its development portfolio for the three months to March 31st, 2008.
The company said in spite of challenging real estate conditions, it has the resources and is confident of achieving attractive long term returns.
The group added the building at the Walbrook site in the City of London is on track for delivery at the end of 2009. Minerva also said it continues to have active and constructive discussions with interested parties for the realisation of the Park Place retail centre scheme in Croydon.
Regarding the announcement Thursday by Limitless LLC, a unit of sovereign wealth fund Dubai World, Minerva confirmed that it has received no proposal from the company.
Limitless said it is in the very preliminary stages of considering its options regarding Minerva but that no decisions have been made.
gibby - 12 May 2008 12:48 - 33 of 360
Excellent
700202 - 11 Jun 2008 08:45 - 34 of 360
News today of 150p bid rumour or fact ?
gibby - 11 Jun 2008 10:18 - 35 of 360
Spoke to MNR earlier - from the tone of voice & discussion I would say fact - waiting for a guy called Ivan to call me back if this helps you? good luck
700202 - 11 Jun 2008 14:24 - 36 of 360
gibby, thanx for that, will just wait holding 30k @ 98p
gibby - 11 Jun 2008 15:36 - 37 of 360
no probs - good you should do very well 700202 - i spoke to mnr & brunswick - do not be surprised at the little information from RNS - i have been in for a while - directors recently bought at 138 i believe, so would expect more than 150 assuming all goes well imho - good luck
scoobie74 - 30 Jun 2008 09:20 - 38 of 360
what's the latest on the bid - sp is falling to new lows!
scotinvestor - 02 Jul 2008 14:00 - 39 of 360
this share is tumbling on no news
shazshare - 16 Jul 2008 09:45 - 40 of 360
down she goes further...housing massacre!
shazshare - 18 Jul 2008 12:45 - 41 of 360
omg look at BDEV, RDW & PSN...expect MNR to move sharply upwards, shorts closing will accelerate this
shazshare - 18 Jul 2008 12:58 - 42 of 360
BDEV, RDW & PSN all up nearly 15%...mnr only 5%...should catch up...enjoy the ride :-)
shazshare - 21 Jul 2008 13:27 - 43 of 360
:-)
thefall - 07 Sep 2008 18:36 - 44 of 360
Whats going on........................
Ok i know that Investors chronicle gave a sell rating, but I also read tht Aberdeen Asset Mgnt went long on 25m shares or 15% using CFDs.
1. KEY INFORMATION
Name of person dealing (Note 1) Aberdeen Asset
Management PLC
Company dealt in Minerva PLC
Class of relevant security to which the dealings being Ord GBP0.25
disclosed relate (Note 2)
Date of dealing 04/09/2008
2. INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE
(a) Interests and short positions (following dealing) in the class of relevant security dealt in (Note 3)
Long Short
Number (%) Number (%)
(1) Relevant securities 25,445,605 15.79
(2) Derivatives (other than options)
(3) Options and agreements to purchase/sell
Total 25,445,605 15.79
So how come the price broke so low, anyone with any ideas???????
Ok i know that Investors chronicle gave a sell rating, but I also read tht Aberdeen Asset Mgnt went long on 25m shares or 15% using CFDs.
1. KEY INFORMATION
Name of person dealing (Note 1) Aberdeen Asset
Management PLC
Company dealt in Minerva PLC
Class of relevant security to which the dealings being Ord GBP0.25
disclosed relate (Note 2)
Date of dealing 04/09/2008
2. INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE
(a) Interests and short positions (following dealing) in the class of relevant security dealt in (Note 3)
Long Short
Number (%) Number (%)
(1) Relevant securities 25,445,605 15.79
(2) Derivatives (other than options)
(3) Options and agreements to purchase/sell
Total 25,445,605 15.79
So how come the price broke so low, anyone with any ideas???????
hlyeo98 - 08 Sep 2008 22:21 - 45 of 360
It's running out of cash
justyi - 26 Sep 2008 14:11 - 46 of 360
Looks like Minerva will stumble further as Limitless World has withdrawn its offer for Minerva.
jodiestar - 13 Nov 2008 13:37 - 47 of 360
Look at the IMS released today, extremely positive, back up to 50p IMHO.
jodiestar - 13 Nov 2008 14:11 - 48 of 360
recent bid that didn't go through was at 160p...look how much these are discounted now!
Clubman3509
- 13 Nov 2008 16:06
- 49 of 360
Now that the uncertainty around our ownership following the ending of discussions with Limitless LLC has been resolved, we are advancing discussions with potential investors regarding a joint venture for the Park Place development in Croydon. Once a partner has been chosen, we will apply for revised planning which we believe will satisfy the prospective anchor tenant.
I would not get excited about a a joint venture in only one development
As far as I can see there is no bid for the entire Company
I would not get excited about a a joint venture in only one development
As far as I can see there is no bid for the entire Company
jodiestar - 14 Nov 2008 07:48 - 50 of 360
this will rocket again like yesterday IMHO
jodiestar - 14 Nov 2008 08:30 - 51 of 360
still expect this to be at least 20p next week after they mull over the recent news over the weekend
jodiestar - 14 Nov 2008 08:33 - 52 of 360
After Minerva hit an all-time low of 9.53p on Wednesday, the property developer bounced back with a near-60pc surge at one point. The company announced that it was in advanced talks with potential partners on one of its key London development projects, Park Place, in Croydon. Other projects, in London's financial district, were on time and on budget, Minerva added. The company, up 1.97 at 11p, was last year trading at 423p and was recently the subject of a 160p-a-share bid proposal from Dubai property group Limitless.
http://www.telegraph.co.uk/finance/markets/marketreport/3454930/ICAP-takes-hit-from-revenue-growth-fears.html
http://www.telegraph.co.uk/finance/markets/marketreport/3454930/ICAP-takes-hit-from-revenue-growth-fears.html
jodiestar - 14 Nov 2008 08:34 - 53 of 360
Bouncing back from a brutal Merrill Lynch downgrade, London commercial property developer Minerva advanced to 15p before encountering profit-taking to finish 2p better at 11p.
The company said it has received an approach from an investor interested in taking a stake in its Park Place development in Croydon. Other projects at Lancaster Gate, and The Walbrook and St Botolphs in the City of London are on time and on budget.
http://www.thisismoney.co.uk/investing-and-markets/tips-and-tactics/article.html?in_article_id=457129&in_page_id=23&position=moretopstories
The company said it has received an approach from an investor interested in taking a stake in its Park Place development in Croydon. Other projects at Lancaster Gate, and The Walbrook and St Botolphs in the City of London are on time and on budget.
http://www.thisismoney.co.uk/investing-and-markets/tips-and-tactics/article.html?in_article_id=457129&in_page_id=23&position=moretopstories
Clubman3509
- 14 Nov 2008 09:04
- 54 of 360
Minerva is an old stock of mine I would like to see it get back on track, but Commercial property IMHO is the next to suffer big time as Companies reduce their workforce and look to downsizing
jodiestar - 14 Nov 2008 09:17 - 55 of 360
but at this current SP more than doom and gloom has been factored in IMHO, it was as though they were going bust, which is not the case after reading the IMS, so these are now seriously undervalued, anyway a great opportunity for a company to try and snap them up on the cheap for less than a pound a share, with recent bid being 160p!
I certainly don't see this financial crisis as the end of minerva, this has been brutally oversold. Expect more rocket rises as things become clearer.
I certainly don't see this financial crisis as the end of minerva, this has been brutally oversold. Expect more rocket rises as things become clearer.
jodiestar - 14 Nov 2008 10:57 - 56 of 360
pls post any news articles on here that you come across
jodiestar - 14 Nov 2008 14:21 - 57 of 360
doing well again today, with alot more rises to come from this low SP IMHO
Clubman3509
- 14 Nov 2008 14:42
- 58 of 360
Something not right here 2 days big rise on SP on a maybe an investor will put a few quid into one project. If the Company was being bought I would accept these rises.
Get ready for a sell of and SP to go back down. I would cash in now if I still had stock.
Get ready for a sell of and SP to go back down. I would cash in now if I still had stock.
jodiestar - 14 Nov 2008 15:01 - 59 of 360
I disagree, if the company was being bought we would be looking at least 200%+ rises, the recent rise was because the IMS was comforting in contrast to the doom & gloom that was pounding the Minerva SP, so therefore providing a great buying opportunity from this low SP
jodiestar - 17 Nov 2008 03:46 - 60 of 360
keep this on your stockwatch list
jodiestar - 17 Nov 2008 10:00 - 61 of 360
watch this rocket when it breaksthrough 15p
jodiestar - 20 Nov 2008 12:08 - 62 of 360
way undervalued, only a matter of time before they get bought out on the cheap IMHO
Clubman3509
- 20 Nov 2008 15:34
- 63 of 360
11p now. Why will it rocket if it gets to 15p
Clubman3509
- 20 Nov 2008 15:37
- 64 of 360
RNS Number : 5854I
Minerva PLC
20 November 2008
Odeon Kensington
Minerva plc announces that it has concluded the Section 106 agreement with The Royal Borough of Kensington and Chelsea and, as a result, planning consent has now been granted to the Odeon Kensington development.
This consent provides for an exclusive development of around 100,000 sq.ft. of apartments and town houses, with car parking, and an underground multi-screen public cinema. As part of the Section 106 agreement, 30 affordable housing units will be provided off-site.
The Odeon Kensington, situated on Kensington High Street just south of Holland Park, was acquired in joint venture with Northacre plc in 2005.
Salmaan Hasan, Chief Executive of Minerva plc, said
'Minerva is very pleased to have realised planning permission for this landmark development, located in London's premier residential district.'
Minerva PLC
20 November 2008
Odeon Kensington
Minerva plc announces that it has concluded the Section 106 agreement with The Royal Borough of Kensington and Chelsea and, as a result, planning consent has now been granted to the Odeon Kensington development.
This consent provides for an exclusive development of around 100,000 sq.ft. of apartments and town houses, with car parking, and an underground multi-screen public cinema. As part of the Section 106 agreement, 30 affordable housing units will be provided off-site.
The Odeon Kensington, situated on Kensington High Street just south of Holland Park, was acquired in joint venture with Northacre plc in 2005.
Salmaan Hasan, Chief Executive of Minerva plc, said
'Minerva is very pleased to have realised planning permission for this landmark development, located in London's premier residential district.'
jodiestar - 20 Nov 2008 17:16 - 65 of 360
double bottom at 10p, resistance at 15p, a breakthrough 15p and some more positive news and this could easily rocket.
Clubman3509
- 21 Nov 2008 16:36
- 66 of 360
Legal & General Group Plc (L&G)
Reduced their holding from 4% to 3%
Reduced their holding from 4% to 3%
halifax - 23 Nov 2008 17:38 - 67 of 360
L&G'S timing is immaculate, a fine example of buy at the top sell at the bottom, glad I'm not a policy holder.
jodiestar - 25 Nov 2008 18:13 - 68 of 360
wot happened here then just before the end of day???
jodiestar - 26 Nov 2008 10:01 - 69 of 360
keep this on your watchlist
jodiestar - 26 Nov 2008 10:08 - 70 of 360
Worth a read
http://www.ft.com/cms/s/0/2a428ce8-bb5b-11dd-bc6c-0000779fd18c.html
http://www.ft.com/cms/s/0/2a428ce8-bb5b-11dd-bc6c-0000779fd18c.html
jodiestar - 26 Nov 2008 14:59 - 71 of 360
is this the beginning of stake building in the hope to buy the company on the cheap
700202 - 26 Nov 2008 15:21 - 72 of 360
Anyone know Kifin ltd is ? took 20% stake yesterday, Kuwait investment vehicle?
jodiestar - 26 Nov 2008 15:30 - 73 of 360
kifin picked up some shares last month too...getting exciting
jodiestar - 26 Nov 2008 15:43 - 74 of 360
believe these will get bought out finally, just a matter of time and price...40, 60 or 80p?
700202 - 26 Nov 2008 16:21 - 75 of 360
jodiestar, but they did not seem that interested in limitless 160p offer,phoned advisor seems KIFIN ltd is a Kuwait investment , buyer of the 15.5% from Aberdeen Asset stake, they now have 20% holding
Am holding 200k @ 18p
Am holding 200k @ 18p
jodiestar - 26 Nov 2008 17:23 - 76 of 360
agreed they were not that interested in the offer at 160p, all i know is at the current SP they are seriously undervalued...another strong finish close of day :-)
jodiestar - 27 Nov 2008 07:46 - 77 of 360
hoping for another exciting day today
blackdown - 27 Nov 2008 08:03 - 78 of 360
Masses of debt. Some development sites where the prospect of finding occupiers not good.
jodiestar - 27 Nov 2008 09:22 - 79 of 360
true, however more than priced in from 423p down to sub 15p!
cm2008 - 27 Nov 2008 13:12 - 80 of 360
I do agree that this is way oversold, as interest in this company grows again, this will rise very sharply, on a technical note look for buys above 15p as signs of another attempt to break through this 15p resistance level. Personally expect this to rise and people to start falling over themselves to get in only for the SP to really accelerate further. You know how it is, while it is steady trading between 10-15p no fresh interest, when it breaks that resistance people will buy in and pay a considerable premium to the current sp IMHO.
cm2008 - 27 Nov 2008 14:51 - 81 of 360
From The TimesNovember 27, 2008
Minerva finds new investor with Kirsh
Smaller companiesPeter Stiff
A little-known South African investor emerged yesterday as the largest shareholder in Minerva, the commercial property group.
Nathan Kirsh, through his Kifin investment vehicle, is understood to have been behind a huge share purchase in the company that went through late on Tuesday.
Aberdeen Asset Management is believed to have sold its entire stake in Minerva, after being approached by Mr Kirsh. Kifin now holds about 20.4 per cent of Minervas shares.
It is understood that the South African, whose other business interests include a holding and directorship with Magal Security, an Israeli security group, is not preparing a bid for the group in the near future..
Minervas share price has been hammered over the past year as the value of its property has tumbled. Limitless, a Middle Eastern investment fund, had shown interest but concern over the size of Minervas debts killed off any hopes of a deal. The shares rose 2p to 14p.
Minerva finds new investor with Kirsh
Smaller companiesPeter Stiff
A little-known South African investor emerged yesterday as the largest shareholder in Minerva, the commercial property group.
Nathan Kirsh, through his Kifin investment vehicle, is understood to have been behind a huge share purchase in the company that went through late on Tuesday.
Aberdeen Asset Management is believed to have sold its entire stake in Minerva, after being approached by Mr Kirsh. Kifin now holds about 20.4 per cent of Minervas shares.
It is understood that the South African, whose other business interests include a holding and directorship with Magal Security, an Israeli security group, is not preparing a bid for the group in the near future..
Minervas share price has been hammered over the past year as the value of its property has tumbled. Limitless, a Middle Eastern investment fund, had shown interest but concern over the size of Minervas debts killed off any hopes of a deal. The shares rose 2p to 14p.
cm2008 - 01 Dec 2008 08:16 - 82 of 360
+ve opened up
+ve buyers above 15p
bodes well
+ve buyers above 15p
bodes well
cm2008 - 01 Dec 2008 13:52 - 83 of 360
everyone on the side of caution understandably
however that does mean many projects/potential not priced in currently
interesting...
'Three UK sites in running for Bloomberg HQ
By Mark Leftly
Sunday, 30 November 2008
Bloomberg, the media empire founded by the current Mayor of New York, has shortlisted three sites for its new London headquarters.
The New York head office is considering taking 300,000 to 400,000 square feet in either Watermark Place, the UBS and Oxford Properties development next to the Thames, which is due to open next year; Minerva's The Walbrook, under construction in the City; and Ropemaker Place, which is being developed by FTSE 100 giant British Land. '
however that does mean many projects/potential not priced in currently
interesting...
'Three UK sites in running for Bloomberg HQ
By Mark Leftly
Sunday, 30 November 2008
Bloomberg, the media empire founded by the current Mayor of New York, has shortlisted three sites for its new London headquarters.
The New York head office is considering taking 300,000 to 400,000 square feet in either Watermark Place, the UBS and Oxford Properties development next to the Thames, which is due to open next year; Minerva's The Walbrook, under construction in the City; and Ropemaker Place, which is being developed by FTSE 100 giant British Land. '
cm2008 - 02 Dec 2008 10:39 - 84 of 360
in a trading range currently 10 - 15p, awaiting a break above 15 for some action
cm2008 - 02 Dec 2008 14:37 - 85 of 360
worth taking a small stake and building it up steadily IMHO
mitzy - 03 Dec 2008 11:59 - 86 of 360
I will take a position around 7/8p got to be a bargain.
Clubman3509
- 03 Dec 2008 12:44
- 87 of 360
7 or 8p is worth a punt
cm2008 - 03 Dec 2008 13:06 - 88 of 360
well CEO has just announced 175k buy at 14.25p
cm2008 - 04 Dec 2008 07:46 - 89 of 360
more good news...
'PLANNING PERMISSION SECURED FOR RAM BREWERY'
'PLANNING PERMISSION SECURED FOR RAM BREWERY'
blackdown - 04 Dec 2008 07:56 - 90 of 360
Maybe, but a) section 106 agreement still to be finalised and this will impose actions/costs on the developer; b) they need to find some occupiers - thin on the ground at the moment; and c) site worth a lot less today than it was when the planning process started.
So I shouldn't get too carried away.
So I shouldn't get too carried away.
cm2008 - 04 Dec 2008 08:07 - 91 of 360
Surely all the above concerns (and a whole lot more) are already factored into the SP, down from over 420p, the market has hammered these as though they are bust!
todays news is a step in the right direction, is how I see it, by the time they complete everything hopefully we can be looking forward to renewed interest in property and this company
todays news is a step in the right direction, is how I see it, by the time they complete everything hopefully we can be looking forward to renewed interest in property and this company
cm2008 - 04 Dec 2008 10:21 - 92 of 360
anybody think there will be a bid for these soon?
700202 - 04 Dec 2008 10:35 - 93 of 360
cm2008 Maybe a possible bid target,but refused 160p bid from limitless ,but they seem to be very confident with the sites and value ,100+ million in cash NAV at circa 230p, planning granted is an obvious bonus.
The advantage they have is they have a number of apartments pre-sold and when there projects are completed (1-2 years) the economy may have improved along with bank lending
I am old enough to have seen this thing before, been in and out of my property portfolio 3 times in 30 years
Overdone,I am holding 300k @ 15p
Also look at QED building around Wembley bought & sold 2 weeks ago big profit and prospects,I am now back in 50k at 32p
The advantage they have is they have a number of apartments pre-sold and when there projects are completed (1-2 years) the economy may have improved along with bank lending
I am old enough to have seen this thing before, been in and out of my property portfolio 3 times in 30 years
Overdone,I am holding 300k @ 15p
Also look at QED building around Wembley bought & sold 2 weeks ago big profit and prospects,I am now back in 50k at 32p
cm2008 - 04 Dec 2008 11:12 - 94 of 360
in the current economic climate it is difficult, understandably not to be able to look long term, surely there must be some very astute investors who will swoop this up amidst this turmoil
700202 - 04 Dec 2008 12:14 - 95 of 360
I would not be surprised to see a bidder, they have prime sites in and around London (Lancaster Gate) just one
I see a stake of 15% changed hands last week and London will, if history repeats itself will be the first place to see a recovery.
I think the important thing is they are building now and with the current economic climate it makes everything from materials to labour cheaper than in BOOM periods
BUY
I see a stake of 15% changed hands last week and London will, if history repeats itself will be the first place to see a recovery.
I think the important thing is they are building now and with the current economic climate it makes everything from materials to labour cheaper than in BOOM periods
BUY
cm2008 - 04 Dec 2008 12:50 - 96 of 360
Property Week
Minerva drinks to iconic Ram Brewery redevelopment
11:57 | 04.12.08
By Jennifer Rigby
Minerva has got the green light for a 1m sq ft redevelopment of the former Youngs Ram Brewery in Wandsworth, south west London.
The developer won consent from Wandsworth Council on Wednesday for the scheme, after agreeing to pledge 41m to fix transport problems.
The scheme will restore listed buildings on the site including the Brewers House and provide space for new facilities including a micro-brewery.
The full development comprises four Town Centre sites and set aside more than 200,000 sq ft of space for bars, restaurants and shops.
It will include two towers on the main brewery site, one of 32 storeys, one of 42 storeys. Nine other blocks will range in height from three to 15 storeys.
Planning applications chairman Leslie McDonnell said: The new homes, shops and restaurants come with the biggest transport 'dowry' we have ever secured.
'It is the only prospect we have of getting the money to tackle the area's chronic traffic problems.
We have not compromised on quality to get these benefits.
'The whole development has been designed to make the most of the site's unique industrial heritage. It aims to create an attractive environment that will change for ever people's perceptions of the town centre.
The Wandsworth Town Centre Partnership described the brewery site as pivotal.
Minerva drinks to iconic Ram Brewery redevelopment
11:57 | 04.12.08
By Jennifer Rigby
Minerva has got the green light for a 1m sq ft redevelopment of the former Youngs Ram Brewery in Wandsworth, south west London.
The developer won consent from Wandsworth Council on Wednesday for the scheme, after agreeing to pledge 41m to fix transport problems.
The scheme will restore listed buildings on the site including the Brewers House and provide space for new facilities including a micro-brewery.
The full development comprises four Town Centre sites and set aside more than 200,000 sq ft of space for bars, restaurants and shops.
It will include two towers on the main brewery site, one of 32 storeys, one of 42 storeys. Nine other blocks will range in height from three to 15 storeys.
Planning applications chairman Leslie McDonnell said: The new homes, shops and restaurants come with the biggest transport 'dowry' we have ever secured.
'It is the only prospect we have of getting the money to tackle the area's chronic traffic problems.
We have not compromised on quality to get these benefits.
'The whole development has been designed to make the most of the site's unique industrial heritage. It aims to create an attractive environment that will change for ever people's perceptions of the town centre.
The Wandsworth Town Centre Partnership described the brewery site as pivotal.
cm2008 - 05 Dec 2008 08:39 - 97 of 360
oversold and undervalued
mitzy - 05 Dec 2008 11:10 - 98 of 360
looks like it cm.
cm2008 - 09 Dec 2008 09:22 - 99 of 360
looks like it may have bottomed at 10p and trading in the 10-15p range, hopefully building up strength to breakthrough 15p, there have been recent attempts at breaking through, so keep this on your list, with alot of upside to the next resistance level, can only buy in small amounts
cm2008 - 11 Dec 2008 10:03 - 100 of 360
another attack on 15p!
cm2008 - 14 Dec 2008 22:42 - 101 of 360
Did anyone notice the recent RNS, Kifin increasing their holding to 22%, who thinks they are gearing up to make a bid?
cm2008 - 15 Dec 2008 08:10 - 102 of 360
don't take this off your radar/stockwatch list
cm2008 - 17 Dec 2008 09:25 - 103 of 360
trickling along ignored, it's time will surely come, will get noticed when it doubles/triples as bid speculation returns, all the best to holders
scarr - 22 Dec 2008 16:55 - 104 of 360
Kifin now 27%
700202 - 22 Dec 2008 18:48 - 105 of 360
Kifin and Christmas is coming,topped up another 50k,they have bought and raised there stake very quickly.
I believe Kifin Ltd has a South African owner, as does the New Atlantis Hotel in Dubai,could it be The Arabs coming in the back door ?
I believe Kifin Ltd has a South African owner, as does the New Atlantis Hotel in Dubai,could it be The Arabs coming in the back door ?
scarr - 25 Dec 2008 03:46 - 106 of 360
nice rise on christmas eve, may get some more media attention along with the close above the 15p resistance, which should interest the technical buyers too
scarr - 28 Dec 2008 16:33 - 107 of 360
Expecting more of the same this coming week
scarr - 29 Dec 2008 04:04 - 108 of 360
Billionaire tycoon Caudwell scents property opportunity
Billionaire tycoon John Caudwell, who founded the Phones4u retail chain, is piling into Britain's beleaguered commercial property market in a sign that some investors believe that prices may be bottoming out.
http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/3982618/Billionaire-tycoon-Caudwell-scents-property-opportunity.html
Billionaire tycoon John Caudwell, who founded the Phones4u retail chain, is piling into Britain's beleaguered commercial property market in a sign that some investors believe that prices may be bottoming out.
http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/3982618/Billionaire-tycoon-Caudwell-scents-property-opportunity.html
scarr - 29 Dec 2008 12:45 - 109 of 360
this is classical taking a small step back before the clean breakthrough
scarr - 31 Dec 2008 08:46 - 110 of 360
not expecting many more buy opps below 15p, waiting for this to rocket northwards in 2009
scarr - 02 Jan 2009 13:48 - 111 of 360
bottomed out, only a matter of time IMHO
scarr - 05 Jan 2009 12:39 - 112 of 360
Large trades/volume
scarr - 06 Jan 2009 11:42 - 113 of 360
Kifin now crossed above 29% holding, this should really hot up now
scarr - 06 Jan 2009 12:05 - 114 of 360
having already bottomed out, these are building momentum and look prime to attack and breakthrough 15p this time, come on let's see if there will be a bid now...
scarr - 06 Jan 2009 12:24 - 115 of 360
any other views
Clubman3509
- 06 Jan 2009 12:33
- 116 of 360
Looks good, but I have bad gut feeling so will give it a miss
scarr - 06 Jan 2009 13:48 - 117 of 360
waking up, getting excited
scarr - 06 Jan 2009 14:30 - 118 of 360
looks like this about to explode northwards
scarr - 06 Jan 2009 15:43 - 119 of 360
still great opp to get in before it really rockets north
scarr - 06 Jan 2009 16:17 - 120 of 360
still alot more to come
scarr - 07 Jan 2009 05:05 - 121 of 360
keep this high on your watchlist
Clubman3509
- 07 Jan 2009 07:36
- 122 of 360
Scarr are you on the board ? if not you should be for your efforts.
scarr - 07 Jan 2009 07:48 - 123 of 360
of course not on the board lol
Sorry, my enthusiasm looking at the fundamentals and chart of this company, make me want to shout about it, guess you were suggesting I post too much? Ok no more posting by me, and all the best to MNR holders.
Sorry, my enthusiasm looking at the fundamentals and chart of this company, make me want to shout about it, guess you were suggesting I post too much? Ok no more posting by me, and all the best to MNR holders.
Clubman3509
- 07 Jan 2009 07:59
- 124 of 360
No problem Scarr I was joking if you have a feeling for a stock go with it
700202 - 07 Jan 2009 09:39 - 125 of 360
Scarr You keep posting EVERYONE is entitled to there opinion,I will go along with you that a bid will come,the only thing is i do not understand why they did not take up the 165p offer from Limitless ?
I have been buying this for a time current holding 200k @ 12p average,I will be holding until there is some news.
I am as excited as you are,fingers crossed
I have been buying this for a time current holding 200k @ 12p average,I will be holding until there is some news.
I am as excited as you are,fingers crossed
Clubman3509
- 07 Jan 2009 09:49
- 126 of 360
Good luck Scarr we need all the good news we can get.
kimoldfield
- 07 Jan 2009 09:57
- 127 of 360
700202, I think it was more a case of Limitless walking away from the bid offer:-
"On 21 July 2008 Minerva announced that it had received a proposal from Limitless to acquire Minerva at 160 pence in cash per Minerva share. On 17 September 2008, Minerva announced that negotiations between the parties were ongoing and that Limitless required third party consents as a waivable pre-condition to an announcement of an offer for Minerva. As a result of being unable to obtain the necessary consents on terms satisfactory to Limitless, Limitless announces that it no longer intends to make an offer for Minerva."
It does look increasingly likely that Kifin may make an offer, which will probably be quite low, but they should do it sooner rather than later; the longer they leave it, the more they may have to pay! No complaints there though!
"On 21 July 2008 Minerva announced that it had received a proposal from Limitless to acquire Minerva at 160 pence in cash per Minerva share. On 17 September 2008, Minerva announced that negotiations between the parties were ongoing and that Limitless required third party consents as a waivable pre-condition to an announcement of an offer for Minerva. As a result of being unable to obtain the necessary consents on terms satisfactory to Limitless, Limitless announces that it no longer intends to make an offer for Minerva."
It does look increasingly likely that Kifin may make an offer, which will probably be quite low, but they should do it sooner rather than later; the longer they leave it, the more they may have to pay! No complaints there though!
blackdown - 02 Feb 2009 14:31 - 128 of 360
Get out if you are in profit. Commercial property is going to have a seriously bad time over the next few years.
yasmine - 18 Feb 2009 16:20 - 129 of 360
had to nibble again at this low price
thefall - 18 Feb 2009 16:52 - 130 of 360
yeah me too, I understand that they are trying to sell and leaseback some buildings with a price of est 50m+, i reckon ill hold until at least some further developments on that
yasmine - 19 Feb 2009 08:27 - 131 of 360
Property Sector is indeed in the doldrums, however market cap of 25M for MNR is surely way undervalued, kifin with 29% or someone else will take these over at this bargain basement price IMHO, so looking for this to explode north.
Lancasters was over 27% sales secured - correct?
Cash was around 117M when last reported?
Surely some more rich Arabs other than Dubai Investment, must be interested in these, not only has the MKT Cap fallen from 600M to 25M but also the exchange rate makes buying in the UK approx 30% cheaper than a year ago.
Lancasters was over 27% sales secured - correct?
Cash was around 117M when last reported?
Surely some more rich Arabs other than Dubai Investment, must be interested in these, not only has the MKT Cap fallen from 600M to 25M but also the exchange rate makes buying in the UK approx 30% cheaper than a year ago.
yasmine - 20 Feb 2009 10:23 - 132 of 360
they have more CASH than their Market Cap, and also property/assets that they can sell off, somebody with the buying power could just buy this company and sell it off in pieces surely for a handsome profit?
yasmine - 20 Feb 2009 10:36 - 133 of 360
thefall think this is what you were referring to in your post 130
from property week
'Minerva HQ on market
13.02.09
Minerva is marketing its plush London West End headquarters in a bid to raise funds
The listed London developer has instructed Franc Warwick to sell 42 Wigmore Street and the neighbouring 5 Welbeck Street, in which government department the Rent Service is the tenant.
The asking price for the long leasehold of the 41,400 sq ft block is 51m a net initial yield of 5.62%.
Minerva, whose shares are trading at 17.5p, from a high of 143p in February last year, plans to lease back its 12,887 sq ft of offices at 75/sq ft. It also hopes to sell its Kensington Odeon site for potential residential development.
Jones Lang LaSalles central London market research shows that average West End rents fell by 11.6% from 107.50/sq ft to 95/sq ft in the fourth quarter of 2008. Taking incentives into account, net effective rents are 79.90/sq ft.
However, it is predicted that rents have fallen further now and are as low as 75/sq ft on the best space in Mayfair and St Jamess.
At the 28,551 sq ft 5 Welbeck Street, the Rent Service is paying at 72.10/sq ft until 2017. '
from property week
'Minerva HQ on market
13.02.09
Minerva is marketing its plush London West End headquarters in a bid to raise funds
The listed London developer has instructed Franc Warwick to sell 42 Wigmore Street and the neighbouring 5 Welbeck Street, in which government department the Rent Service is the tenant.
The asking price for the long leasehold of the 41,400 sq ft block is 51m a net initial yield of 5.62%.
Minerva, whose shares are trading at 17.5p, from a high of 143p in February last year, plans to lease back its 12,887 sq ft of offices at 75/sq ft. It also hopes to sell its Kensington Odeon site for potential residential development.
Jones Lang LaSalles central London market research shows that average West End rents fell by 11.6% from 107.50/sq ft to 95/sq ft in the fourth quarter of 2008. Taking incentives into account, net effective rents are 79.90/sq ft.
However, it is predicted that rents have fallen further now and are as low as 75/sq ft on the best space in Mayfair and St Jamess.
At the 28,551 sq ft 5 Welbeck Street, the Rent Service is paying at 72.10/sq ft until 2017. '
yasmine - 20 Feb 2009 11:31 - 134 of 360
Been looking over their results for the end June 2008, so they had 110M+ in cash, nearly 550M+ in debt, finance in place with 30% debt to be paid in 2yrs+ and over 40% to be paid in 5yrs+
Total valuation for their holdings remained the same at nearly 870M (increase in Lancasters offsetting other property holdings)
870+110 - 550 = 430M would give an SP of over 250p
NAV per share quoted was around 200p.
Today, the economic climate is still dire and expected to be for 2009 and recovering in 2010 , residential and commercial property continues to suffer, major projects are not threatened by finance however tenants need to be secured to remove uncertainty. Lancasters already had 100M pre-sales secured back in June 2008.
Results are due to be released by end of next week, according to their website, just can't understand how these can be valued at below 25M Mkt Cap - expect the results to show how absurd this is. Even with valuations falling that is significantly more than their debt. Perhaps when the results are released some cash rich kings will come out of the woodwork and bid for MNR.
If valuation in 6 months has fallen to 700M and cash has halved to say 50M that would still give them a value of 200M, lets say a NAV of at least 100p, even with the market building in future uncertaintly let's dicount this another 50% that would still give an SP of 50p!
I guess I just don't understand this share lark LOL
Total valuation for their holdings remained the same at nearly 870M (increase in Lancasters offsetting other property holdings)
870+110 - 550 = 430M would give an SP of over 250p
NAV per share quoted was around 200p.
Today, the economic climate is still dire and expected to be for 2009 and recovering in 2010 , residential and commercial property continues to suffer, major projects are not threatened by finance however tenants need to be secured to remove uncertainty. Lancasters already had 100M pre-sales secured back in June 2008.
Results are due to be released by end of next week, according to their website, just can't understand how these can be valued at below 25M Mkt Cap - expect the results to show how absurd this is. Even with valuations falling that is significantly more than their debt. Perhaps when the results are released some cash rich kings will come out of the woodwork and bid for MNR.
If valuation in 6 months has fallen to 700M and cash has halved to say 50M that would still give them a value of 200M, lets say a NAV of at least 100p, even with the market building in future uncertaintly let's dicount this another 50% that would still give an SP of 50p!
I guess I just don't understand this share lark LOL
yasmine - 25 Feb 2009 15:27 - 135 of 360
overlooked share, will all change IMHO when results are released this week
thefall - 25 Feb 2009 17:08 - 136 of 360
lets not forget kirsh from sth africa recently bought up 29% of co, could be a good springboard for anyone looking to takeout MNR
justyi - 25 Feb 2009 18:46 - 137 of 360
MNR is one for the graveyard shares. At 12p now, things are getting worse. Debts are rising.
Clubman3509
- 26 Feb 2009 09:44
- 138 of 360
Loss doubles at Minerva
MoneyAM
Real estate group Minerva showed a loss after investment property revaluation movements and taxation of 186.7m for the first six months, more than double the previous figure of 90.7m.
Chairman Oliver Whitehead said, 'The real estate and financial markets have deteriorated significantly over the last six months. This has had a consequential effect on the value of our property portfolio and our results have also been impacted by the revaluation of our interest rate hedges in what is now a very low interest rate environment.'
Property revaluation produced a deficit of 20.8 per cent. The loss before tax and investment property revaluation movements was 1.6m versus 6.4m in 2007.
No dividend was declared.
MoneyAM
Real estate group Minerva showed a loss after investment property revaluation movements and taxation of 186.7m for the first six months, more than double the previous figure of 90.7m.
Chairman Oliver Whitehead said, 'The real estate and financial markets have deteriorated significantly over the last six months. This has had a consequential effect on the value of our property portfolio and our results have also been impacted by the revaluation of our interest rate hedges in what is now a very low interest rate environment.'
Property revaluation produced a deficit of 20.8 per cent. The loss before tax and investment property revaluation movements was 1.6m versus 6.4m in 2007.
No dividend was declared.
yasmine - 26 Feb 2009 11:36 - 139 of 360
Unprecedented times indeed
Mkt Cap less than 20M but have over 100M CASH
SP currently 11p but NAV of over 100p
Kirsh - swoop in and take these over.
Mkt Cap less than 20M but have over 100M CASH
SP currently 11p but NAV of over 100p
Kirsh - swoop in and take these over.
yasmine - 02 Mar 2009 10:08 - 140 of 360
MKT Cap of less than 12M, surely this is an over reaction. Some cash rich investor will takeover MNR and sell off the assets for a big profit, surely investors must be applying some risk/reward to a takeover approach of MNR now, what with their cash and assets IMHO.
Once everyone has bailed out and then there is interest in MNR again, should see this on the leaderboard of percentage risers, with a large mark-up.
Once everyone has bailed out and then there is interest in MNR again, should see this on the leaderboard of percentage risers, with a large mark-up.
blackdown - 02 Mar 2009 13:51 - 141 of 360
Dream on.
justyi - 02 Mar 2009 19:44 - 142 of 360
Last week was 12p, now crashed another 50% to 8p.
Looks like it will crashed to 4p soon.
Looks like it will crashed to 4p soon.
thefall - 02 Mar 2009 21:34 - 143 of 360
I wish, i read a report that highlighted bank covenent concerns due this June. I think that is leading the sp down. However im sticking with this and keeping till THE TAKEOVER!
yasmine - 03 Mar 2009 08:18 - 144 of 360
depressing (and that's putting it mildly), can't remember the last blue day, has been just red day after red day, looking forward to a big blue day and yes talk of a takeover. 'Dreams can come true - you know you got to have them' lol
yasmine - 03 Mar 2009 12:28 - 145 of 360
will 8p be the new support level...
halifax - 03 Mar 2009 12:31 - 146 of 360
5P maybe, sinking under the huge debt burden.
yasmine - 03 Mar 2009 13:23 - 147 of 360
ok Limitless, go on then, we'll accept your 160p final offer!
halifax - 03 Mar 2009 15:48 - 148 of 360
Chairman sells 220k shares at 10p must be a vote of confidence!?
thefall - 03 Mar 2009 17:28 - 149 of 360
well so long as the sth africans are happy to hold at the prices they paid then ill stick with it. June is still a long way off, and lets face it the markets are v irrational at moment.
hlyeo98 - 03 Mar 2009 17:42 - 150 of 360
3 March 2009
Minerva plc
Notification of Transaction by a Director/PDMR
Pursuant to paragraph 3.1.4R(1) of the Disclosure Rules, Minerva plc (the 'Company') hereby discloses that, on 3 March 2009, the Company received written notification from Oliver Whitehead, Chairman of the Company that, on 26 February 2009, he sold 220,000 ordinary shares of 25 pence each in the capital of the Company, at a price of 10.0 pence per ordinary share.
Minerva plc
Notification of Transaction by a Director/PDMR
Pursuant to paragraph 3.1.4R(1) of the Disclosure Rules, Minerva plc (the 'Company') hereby discloses that, on 3 March 2009, the Company received written notification from Oliver Whitehead, Chairman of the Company that, on 26 February 2009, he sold 220,000 ordinary shares of 25 pence each in the capital of the Company, at a price of 10.0 pence per ordinary share.
yasmine - 06 Mar 2009 13:55 - 151 of 360
it's not all over yet still some life left at least until 30 June
Clubman3509
- 06 Mar 2009 14:51
- 152 of 360
On its arse get out while you can
yasmine - 06 Mar 2009 14:55 - 153 of 360
flat on it's arse indeed, however a little fart here and there and its up 25% like now, still some life in it, yes needs a 100% rise to gain some interest coupled with positive news
Clubman3509
- 06 Mar 2009 15:32
- 154 of 360
More like some mugs still buying it.
Clubman3509
- 06 Mar 2009 15:37
- 155 of 360
yasmine - 11 Mar 2009 09:53 - 156 of 360
still life in this one...
yasmine - 11 Mar 2009 11:11 - 157 of 360
rumours on an alternative site of a bid, I do stress that it's just a rumour at this moment...certainly the price is reacting...an RNS would need to be released if this is true
yasmine - 11 Mar 2009 13:42 - 158 of 360
Rumour is of 20p per share
Stress on the fact that this is still a rumour!
Stress on the fact that this is still a rumour!
blackdown - 11 Mar 2009 14:24 - 159 of 360
I heard that this was for the whole company.
yasmine - 12 Mar 2009 09:38 - 160 of 360
lol blackdown
anyways, MNR doing well this morning
anyways, MNR doing well this morning
yasmine - 16 Mar 2009 08:43 - 161 of 360
8p looks like support
also interesting article, well worth a read
http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/4986406/London-property-attracts-foreign-investors.html
also interesting article, well worth a read
http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/4986406/London-property-attracts-foreign-investors.html
yasmine - 26 Mar 2009 15:19 - 162 of 360
still hanging in there, anyone else?
mitzy - 26 Mar 2009 16:38 - 163 of 360
Could well be the bottom imo.
halifax - 26 Mar 2009 16:40 - 164 of 360
property shares expected to sink further beware.
mitzy - 26 Mar 2009 16:56 - 165 of 360
Maybe halifax I'm not much good with property shares but @6p they are a gamble that they may manage to sell one of their sites.
halifax - 26 Mar 2009 17:08 - 166 of 360
Too many half built offices, too much debt, too few potential occupants.
yasmine - 27 Mar 2009 08:43 - 167 of 360
doomsday already priced in
mitzy - 27 Mar 2009 09:19 - 168 of 360
At 6p this must be n ear the bottom.
yasmine - 27 Mar 2009 10:04 - 169 of 360
certainly looks like near the bottom, price now moved up to 7p
yasmine - 30 Mar 2009 11:03 - 170 of 360
holding around the 7p still
mitzy - 30 Mar 2009 14:39 - 171 of 360
Edging up.
Clubman3509
- 31 Mar 2009 14:07
- 172 of 360
Don't know what to make of this.
Pursuant to paragraph 3.1.4R(1) of the Disclosure Rules, Minerva plc (the 'Company') hereby discloses that, on 31 March 2009, the Company received written notification from Oliver Whitehead, Chairman of the Company that, on 30 March 2009, he purchased 314,573 ordinary shares of 25 pence each in the capital of the Company, at a price of 6.99 pence per ordinary share.
Pursuant to paragraph 3.1.4R(1) of the Disclosure Rules, Minerva plc (the 'Company') hereby discloses that, on 31 March 2009, the Company received written notification from Oliver Whitehead, Chairman of the Company that, on 30 March 2009, he purchased 314,573 ordinary shares of 25 pence each in the capital of the Company, at a price of 6.99 pence per ordinary share.
mitzy - 31 Mar 2009 14:24 - 173 of 360
He sold the other month @10p he has bought the same quatity back @6.99p.
Clubman3509
- 31 Mar 2009 14:29
- 174 of 360
His purchase does not seem to have had much effect on the SP
blackdown - 31 Mar 2009 14:48 - 175 of 360
Massive 22k investment - wow!
Clubman3509
- 31 Mar 2009 15:18
- 176 of 360
Maybe he is trying to push up the SP with his pocket money investment before bailing out again.
mitzy - 01 Apr 2009 08:45 - 177 of 360
Anyhow it seems to have done the trick.
Clubman3509
- 01 Apr 2009 08:51
- 178 of 360
Yes, maybe I should have put my pocket money in yesterday
yasmine - 01 Apr 2009 10:35 - 179 of 360
steady as she goes...(up for a change!)
mitzy - 01 Apr 2009 10:38 - 180 of 360
I put my babysitting money in.
Clubman3509
- 01 Apr 2009 10:45
- 181 of 360
Watch him cash in if, and when the SP rises a few pence.
Clubman3509
- 01 Apr 2009 10:46
- 182 of 360
Sold all my ex wifes stuff on ebay, maybe I will invest this money.
mitzy - 01 Apr 2009 11:08 - 183 of 360
A 10 bagger if they manage to survive the recession.
halifax - 01 Apr 2009 15:46 - 184 of 360
Not looking good too much selling.
mitzy - 02 Apr 2009 10:55 - 185 of 360
Plenty of action today.
yasmine - 02 Apr 2009 10:56 - 186 of 360
looking better
yasmine - 02 Apr 2009 11:27 - 187 of 360
bottomed finally?
mitzy - 02 Apr 2009 11:58 - 188 of 360
Looks that way 8p today.
mitzy - 02 Apr 2009 12:38 - 189 of 360
In my view proprty is now at the bottom its just a question of picking the right plays.
yasmine - 02 Apr 2009 12:53 - 190 of 360
IMHO once they announce positive news about their covenants this will more than double, then these will be even more of a bid prospect
Did anyone follow Quintain (top risers list most of this week) they have the same main bankers (unconfirmed) as MNR and have just had their covenants relaxed, so would be no surprise to see MNR more than double if their covenants are renegotiated too. Please DYOR
Did anyone follow Quintain (top risers list most of this week) they have the same main bankers (unconfirmed) as MNR and have just had their covenants relaxed, so would be no surprise to see MNR more than double if their covenants are renegotiated too. Please DYOR
mitzy - 02 Apr 2009 13:01 - 191 of 360
I'm holding for 100p yasmine once people realise property is on the turn.
yasmine - 02 Apr 2009 13:06 - 192 of 360
70p is my target, along way to go yet
volume increasing as this is rising from out of the downtrend
volume increasing as this is rising from out of the downtrend
yasmine - 02 Apr 2009 16:04 - 193 of 360
up over 20% but want more...
thefall - 02 Apr 2009 17:51 - 194 of 360
yeah nice play with mnr, anyone have ideas on any other real estate plays?
mitzy - 02 Apr 2009 18:53 - 195 of 360
TAP and OPF are good.
yasmine - 03 Apr 2009 10:57 - 196 of 360
QED have tripled since their announcement...bodes well for MNR ;-) if they get their covenants relaxed too, considering they are already priced to go bust
mitzy - 03 Apr 2009 10:59 - 197 of 360
MNR is steal mind you if they go bust they will be.
yasmine - 06 Apr 2009 06:51 - 198 of 360
From standard.co.uk
'The vultures are hovering, so we must be at the bottom'
'Welcome to the bottom of the commercial property market. It must be, for today the world's biggest property agent says so. "The time to buy UK property is now," reckons CB Richard Ellis.
The message from the group, with 29,000 employees, is contained in an eight-page piece of research which concludes the combination of plunging prices and plunging interest rates means it is time for investors to open their wallets.
"Property yields are now approaching levels where, even with some realistic allowance for tenant fallout, the income will provide a substantial real return," says Peter Damesick, UK head of research at CBRE. "Equity-rich investors will have the field."
To translate: An office block rented out for half a million a year would have cost 10 million in 2007. The same block can now be had for 6 million. Happily the tenant is still paying 500,000 a year in rent. Don't worry about the price going up or down, says CBRE. Thanks to low borrowing costs you can make profit on the rental income alone.
But the agent adds three important caveats. First, the office block must be in a good spot. Second, you must be pretty sure the tenant is not going to go bust. Third, you must be able to raise the asking price.
That final provision is still, of course, the big snag. But the ever-enterprising property market is now busy figuring it out. Right now, a great deal of brainpower is going into setting up property funds to buy distressed assets.
One man busy helping to set up such funds is John Forbes, head of real estate for Europe at PricewaterhouseCoopers. "UK property looks cheap. A number of fund managers are looking to raise real-estate funds to take advantage of the UK recovery when it happens," he says.
These opportunity funds typically look to pull in between 50 million and 500 million from professional investors, or other funds. They can be quite lucrative for those setting them up. The fees lie between 3% and 5% of the money raised. Most of this will go to lawyers, bankers and advisers like CBRE and PwC, who both have expertise in setting up funds.
But there is a little-known group of intermediaries who are sometimes needed. If the promoters don't have good connections to investors, they can turn to so-called placement agents.
For a fee of between 1% and 2% of the money raised, these guys get investors to commit to paying cash when the "opportunity" fund goes live. Imagine your cut if you could raise 500 million. The smell of vulture hanging around the word "opportunity" means most of the new funds will have bland names like "UK Office Recovery Fund". But make no mistake. They are being set up to pick the carcass of other funds and property businesses that have been killed in the jaws of the negative-equity trap. The bottom of the market is a very bloody place.'
'The vultures are hovering, so we must be at the bottom'
'Welcome to the bottom of the commercial property market. It must be, for today the world's biggest property agent says so. "The time to buy UK property is now," reckons CB Richard Ellis.
The message from the group, with 29,000 employees, is contained in an eight-page piece of research which concludes the combination of plunging prices and plunging interest rates means it is time for investors to open their wallets.
"Property yields are now approaching levels where, even with some realistic allowance for tenant fallout, the income will provide a substantial real return," says Peter Damesick, UK head of research at CBRE. "Equity-rich investors will have the field."
To translate: An office block rented out for half a million a year would have cost 10 million in 2007. The same block can now be had for 6 million. Happily the tenant is still paying 500,000 a year in rent. Don't worry about the price going up or down, says CBRE. Thanks to low borrowing costs you can make profit on the rental income alone.
But the agent adds three important caveats. First, the office block must be in a good spot. Second, you must be pretty sure the tenant is not going to go bust. Third, you must be able to raise the asking price.
That final provision is still, of course, the big snag. But the ever-enterprising property market is now busy figuring it out. Right now, a great deal of brainpower is going into setting up property funds to buy distressed assets.
One man busy helping to set up such funds is John Forbes, head of real estate for Europe at PricewaterhouseCoopers. "UK property looks cheap. A number of fund managers are looking to raise real-estate funds to take advantage of the UK recovery when it happens," he says.
These opportunity funds typically look to pull in between 50 million and 500 million from professional investors, or other funds. They can be quite lucrative for those setting them up. The fees lie between 3% and 5% of the money raised. Most of this will go to lawyers, bankers and advisers like CBRE and PwC, who both have expertise in setting up funds.
But there is a little-known group of intermediaries who are sometimes needed. If the promoters don't have good connections to investors, they can turn to so-called placement agents.
For a fee of between 1% and 2% of the money raised, these guys get investors to commit to paying cash when the "opportunity" fund goes live. Imagine your cut if you could raise 500 million. The smell of vulture hanging around the word "opportunity" means most of the new funds will have bland names like "UK Office Recovery Fund". But make no mistake. They are being set up to pick the carcass of other funds and property businesses that have been killed in the jaws of the negative-equity trap. The bottom of the market is a very bloody place.'
yasmine - 06 Apr 2009 09:05 - 199 of 360
up up
mitzy - 06 Apr 2009 09:50 - 200 of 360
Great share.
yasmine - 06 Apr 2009 10:04 - 201 of 360
...and away she goes
mitzy - 06 Apr 2009 10:09 - 202 of 360
My prediction is 25p sometime.
yasmine - 06 Apr 2009 10:27 - 203 of 360
w bottom forming nicely
mitzy - 06 Apr 2009 10:37 - 204 of 360
25p would only take us back to Jan 12 th.
mitzy - 06 Apr 2009 11:39 - 205 of 360
Up 50% now.
yasmine - 06 Apr 2009 11:42 - 206 of 360
relax it's only 50% up, wake me up when it's 300% lol
happy days at last, stelios are you interested in MNR, then you will have to BID against Kifin and perhaps Limitless...All IMHO please DYOR
happy days at last, stelios are you interested in MNR, then you will have to BID against Kifin and perhaps Limitless...All IMHO please DYOR
yasmine - 06 Apr 2009 12:41 - 207 of 360
this is just the beginning, back on peeps radars, more rises to come from this lowly bottom, any positive news and we could see this double in a day in the very near future IMHO
mitzy - 06 Apr 2009 14:18 - 208 of 360
If you believe property has bottomed now is a great time to buy cheap property plays.
yasmine - 06 Apr 2009 15:51 - 209 of 360
jumped ahead of itself, pull back is good and normal as profit takers depart, setting up for the next rise over time, who cares about the odd penny per share if it doubles from here on the next leg up
halifax - 06 Apr 2009 17:02 - 210 of 360
why should property prices have bottomed with companies laying off employees both commercial and domestic property prices still have quite some way to fall inmho? probably at least a further 15-20%.
Clubman3509
- 06 Apr 2009 17:10
- 211 of 360
property prices have a way to fall a lot more, credit is still tight, and mortgages are only being loaned to people with good credit score.
yasmine - 06 Apr 2009 17:18 - 212 of 360
20% off MNR SP will bring it down from current 10p to 8p but they are only this low because of covenants, recall these were well above 400p
30%+ rise today with over 10M volume
vultures are hovering over the property sector, read the earlier article and did anyone read about Stelios
this is priced to go bust remember with some covenants to be tested in June, however recently property companies have had their covenants relaxed/negotiated e.g. QED rocketed from 9p to 30p when they announced such news recently
always a risk/reward scenario and I see these worth the risk as always IMHO and please DYOR
30%+ rise today with over 10M volume
vultures are hovering over the property sector, read the earlier article and did anyone read about Stelios
this is priced to go bust remember with some covenants to be tested in June, however recently property companies have had their covenants relaxed/negotiated e.g. QED rocketed from 9p to 30p when they announced such news recently
always a risk/reward scenario and I see these worth the risk as always IMHO and please DYOR
halifax - 06 Apr 2009 17:25 - 213 of 360
The question which has to be answered is do they have the resources to complete their projects?
mitzy - 06 Apr 2009 17:40 - 214 of 360
If it can pass 15p theres nothing till 25p.
yasmine - 06 Apr 2009 18:00 - 215 of 360
support 10p
resistance 15p
resistance 15p
mitzy - 06 Apr 2009 22:13 - 216 of 360
British Bulls web-site have Buy confirmed tonight so I would expect a rise to 12p Tuesday.
yasmine - 07 Apr 2009 07:05 - 217 of 360
some large buys yesterday, could we see some positive RNS today
yasmine - 07 Apr 2009 08:29 - 218 of 360
lots and lots of 75k buy AT trades yesterday and this morning already
mitzy - 07 Apr 2009 08:39 - 219 of 360
LSE prices are completely wrong this am its about time they sorted themselves out after all they get paid large amounts for doing nothing.
yasmine - 07 Apr 2009 09:26 - 220 of 360
good reversal trend set matched by crescendo style volume is there anything you like more than a voluminous bottom?
mitzy - 07 Apr 2009 09:43 - 221 of 360
Take a look at TAP yas I'm keen .
yasmine - 07 Apr 2009 10:29 - 222 of 360
sure this is on more peeps radars after yesterday
yasmine - 07 Apr 2009 12:44 - 223 of 360
TW. financing successfully complete, awaiting MNR to do the same with their covenants and also triple
yasmine - 08 Apr 2009 09:32 - 224 of 360
technical retest perhaps of 10p support level
yasmine - 09 Apr 2009 12:21 - 225 of 360
successful retest and now look at it move northwards 15p resistance here we come
yasmine - 09 Apr 2009 12:35 - 226 of 360
wakey wakey as this rockets northwards
yasmine - 09 Apr 2009 12:54 - 227 of 360
whoooooooooooooooooooosh!
mitzy - 09 Apr 2009 13:06 - 228 of 360
Bought more today and TAP another unloved property share.gl.
yasmine - 09 Apr 2009 13:17 - 229 of 360
RNS later perhaps of notifiable interest
mitzy - 09 Apr 2009 20:02 - 230 of 360
Finished up 20% I'm holding from 6p so happy to hold.
mitzy - 14 Apr 2009 10:34 - 231 of 360
24p next stop
yasmine - 14 Apr 2009 18:58 - 232 of 360
progressing well
my other holdings LOOK are doing well and TFC is starting to motor
I like battered sectors namely property and transport
my other holdings LOOK are doing well and TFC is starting to motor
I like battered sectors namely property and transport
blackdown - 14 Apr 2009 18:59 - 233 of 360
What are you likely to have for breakfast tomorrow?
mitzy - 14 Apr 2009 21:04 - 234 of 360
Egg & bacon.
mitzy - 15 Apr 2009 15:27 - 235 of 360
Nice chart forming back to 25p soon.
sharecooper - 21 Apr 2009 14:56 - 236 of 360
Large sells going through, no news to support the recent rise, so no surprise this is falling back equally as quick.
Clubman3509
- 21 Apr 2009 15:04
- 237 of 360
Could soon have to change the topic heading to Minerva Overvalued
mitzy - 21 Apr 2009 15:19 - 238 of 360
still cheap.
sharecooper - 21 Apr 2009 15:25 - 239 of 360
Yasmine disappeared, now mitzy bailing out, bet lots of people bought on the impulse recently, now left holding the baby, when will people learn that they need to do more research before they part with their hard-earned money!
halifax - 21 Apr 2009 15:27 - 240 of 360
Is this yet another pump and dump for dummies?
blackdown - 21 Apr 2009 17:10 - 241 of 360
Big borrowings. Outlook for commercial property is v poor.
sharecooper - 22 Apr 2009 14:23 - 242 of 360
maybe worth a look in July if this is still around IMHO
mitzy - 23 Apr 2009 14:13 - 243 of 360
lol.
Clubman3509
- 12 May 2009 16:46
- 244 of 360
UK Small Caps
Tuesday May 12, 04:29 PM
Croydon scraps Minerva shopping centre deal
LONDON (ShareCast) - Croydon council has told real estate firm Minerva (LSE: MNR.L - news) it is cancelling its contract to develop the ADVERTISEMENT
Park Place shopping centre after almost a decade of waiting.
It says it's become clear that Minerva won't be able to come up with a town centre development that meets planning permission granted five years ago and which expired last week.
The terms of an agreement between the two, struck in December 2004, required Minerva to submit a strategy for securing funding.
But the company has been hunting for a new joint venture partner since March 2008 after Lend Lease (Munich: 858788 - news) pulled out of the deal without success.
"It has become all too apparent that in the present economic climate there is virtually no chance of Minerva bringing on board the partners it needs to make the retail scheme happen," said councillor Mike Fisher:
"We hope to continue amicable negotiations with Minerva to allow a fresh start with another partner who is capable of proceeding with a scheme that meets Croydon's needs and will bring John Lewis to the town."
He didn't rule out a compulsory purchase order for the land if Minerva doesn't play ball.
Tuesday May 12, 04:29 PM
Croydon scraps Minerva shopping centre deal
LONDON (ShareCast) - Croydon council has told real estate firm Minerva (LSE: MNR.L - news) it is cancelling its contract to develop the ADVERTISEMENT
Park Place shopping centre after almost a decade of waiting.
It says it's become clear that Minerva won't be able to come up with a town centre development that meets planning permission granted five years ago and which expired last week.
The terms of an agreement between the two, struck in December 2004, required Minerva to submit a strategy for securing funding.
But the company has been hunting for a new joint venture partner since March 2008 after Lend Lease (Munich: 858788 - news) pulled out of the deal without success.
"It has become all too apparent that in the present economic climate there is virtually no chance of Minerva bringing on board the partners it needs to make the retail scheme happen," said councillor Mike Fisher:
"We hope to continue amicable negotiations with Minerva to allow a fresh start with another partner who is capable of proceeding with a scheme that meets Croydon's needs and will bring John Lewis to the town."
He didn't rule out a compulsory purchase order for the land if Minerva doesn't play ball.
marni - 12 May 2009 17:45 - 245 of 360
yes halifax, you need to watch out for pump and dump people like mitzy or others that try to scare you into selling your shares by predicting silly prices
mitzy - 12 May 2009 17:50 - 246 of 360
Well you learn something new everyday dont you today I found out marni is a complete idiot.
marni - 12 May 2009 17:56 - 247 of 360
if you put some punctuation in mitzy, that might make sense
tristanshare - 13 May 2009 13:10 - 248 of 360
impressive intra-day turnaround
Clubman3509
- 13 May 2009 15:53
- 249 of 360
Marni. Why would you think a stockholder would be influenced by a member of a internet board, unless he / she were a complete idiot.
marni - 13 May 2009 23:05 - 250 of 360
well you do get new investors in life.......we all have to start at some point.
and there are some good informative posts, however you do get some rampers / derampers and through time we get to find out
and there are some good informative posts, however you do get some rampers / derampers and through time we get to find out
tristanshare - 14 May 2009 12:28 - 251 of 360
another positive move today to add to the intra-day turnaround yesterday a break through 16p would make this really interesting with 25p the next ceiling
mitzy - 14 May 2009 13:19 - 252 of 360
David Shamoon has built up a 8/10% stake according to the Telegraph.
tristanshare - 14 May 2009 13:50 - 253 of 360
post the link here it would be useful
tristanshare - 14 May 2009 13:50 - 254 of 360
buyers now in at over 15p looking +ve
tristanshare - 14 May 2009 14:30 - 255 of 360
volume over 4M already today and new high for the day
tristanshare - 14 May 2009 14:49 - 256 of 360
not too late to get in before the herd, only just starting it's ascent IMHO and a penny here or there will not matter if this does indeed double, DYOR
tristanshare - 14 May 2009 15:14 - 257 of 360
volume swelling, breakthrough 16p and the brakes are off
mitzy - 14 May 2009 18:13 - 258 of 360
Looking great tristan more to come I reckon.
marni - 14 May 2009 22:17 - 259 of 360
oh god, mitzy at it again.....pumped a month ago and a week later dumped them.....afraid to say halifax may be right in this instance
tristanshare - 15 May 2009 08:02 - 260 of 360
told ya this would be going north
mitzy - 15 May 2009 08:07 - 261 of 360
Marni read my posts I sold @12p I do not hold at the mom...
tristanshare - 15 May 2009 08:12 - 262 of 360
26p short term target i.e. next resistance based on chart technically
chart looking positive
volume magnificent this week
newspaper article positive about stakebuilding
Negative, and it is a big negative is that covenant news has not been released as to state that they have been relaxed, so as always wanted to add some caution that please keep this risk element in your decision making.
chart looking positive
volume magnificent this week
newspaper article positive about stakebuilding
Negative, and it is a big negative is that covenant news has not been released as to state that they have been relaxed, so as always wanted to add some caution that please keep this risk element in your decision making.
tristanshare - 15 May 2009 11:58 - 263 of 360
CLOSED my position, over on another thread some of the rumours of positive news are known Pump and Dumpsters, moved to cash DYOR!
tristanshare - 15 May 2009 11:58 - 264 of 360
if no RNS comes out people who bought on rumour will head for the door before close and leave us holding the baby, sorry but had to reduce the risk of holding, of course will be kicking myself if these rise, please please do your own research!
mitzy - 15 May 2009 18:02 - 265 of 360
Well done for making a profit.
tristanshare - 20 May 2009 09:36 - 266 of 360
thanks, it has fallen over 20% since.
mitzy - 20 May 2009 09:41 - 267 of 360
lol..
tristanshare - 21 May 2009 09:02 - 268 of 360
Mitzy are you in these?
Daily Telegraph
May 21st 2009
Minerva was another small-cap subject of bid gossip. Well placed banking sources said South African businessman Nathan Kirsh, who owns 29pc of the property company, has been in talks with entrepreneur David Shamoon, who has also been building a stake, about a joint bid that could value the company at between 40 and 50p a share. Mr Kirsh is likely to lead any bid. The shares, though, slipped 1 to 15p.
Daily Telegraph
May 21st 2009
Minerva was another small-cap subject of bid gossip. Well placed banking sources said South African businessman Nathan Kirsh, who owns 29pc of the property company, has been in talks with entrepreneur David Shamoon, who has also been building a stake, about a joint bid that could value the company at between 40 and 50p a share. Mr Kirsh is likely to lead any bid. The shares, though, slipped 1 to 15p.
tristanshare - 21 May 2009 09:08 - 269 of 360
lol back in at 16.3
tristanshare - 21 May 2009 09:49 - 270 of 360
just read a previous post of yours Mitzy, your not in these.
I posted recently chart says 26p, hmmm all these rumours...decisions decisions!
I posted recently chart says 26p, hmmm all these rumours...decisions decisions!
tristanshare - 21 May 2009 12:30 - 271 of 360
exciting to see blue on a red day elsewhere
mitzy - 21 May 2009 12:31 - 272 of 360
I sold out @12p tristan gl.
tristanshare - 21 May 2009 13:17 - 273 of 360
thanks, it's up nearly 7% on a day of red sea
debbiestroud - 21 May 2009 15:31 - 274 of 360
long 16p
target 40p
(made an absolute kill on QED, BXTN, TW. ,BDEV)
MNR (and WKP) of the few giants to awake yet, few such excellent recovery plays left.
target 40p
(made an absolute kill on QED, BXTN, TW. ,BDEV)
MNR (and WKP) of the few giants to awake yet, few such excellent recovery plays left.
debbiestroud - 22 May 2009 07:14 - 275 of 360
can some please post a chart
debbiestroud - 22 May 2009 08:06 - 276 of 360
BXTN subject to possible offer, excellent news for MNR and the property sector
debbiestroud - 22 May 2009 08:16 - 277 of 360
trend is your friend, someone post a chart please
debbiestroud - 22 May 2009 08:27 - 278 of 360
creepinggggggg up nicely
debbiestroud - 22 May 2009 15:52 - 279 of 360
but too slowly so closed out and topped up BXTN ciao
Master RSI
- 22 May 2009 15:58
- 280 of 360
debbiestroud
The choice is yours whish one you want
The choice is yours whish one you want
Intraday Chart
3 month
5 days
3 month
tristanshare - 26 May 2009 12:51 - 281 of 360
saying goes 'buy on the rumour sell on the news'
well the rumour-mill is ramping high, coupled with the articles from the paper but what is the delay? Call MNR and ask, you may well be surprised, what would you do if there was no news?
well the rumour-mill is ramping high, coupled with the articles from the paper but what is the delay? Call MNR and ask, you may well be surprised, what would you do if there was no news?
tristanshare - 28 May 2009 09:13 - 282 of 360
ramped and still it falls, something seriously not right here!
debbiestroud - 28 May 2009 13:17 - 283 of 360
tristan weren't u ramping this lol
halifax - 29 May 2009 16:46 - 284 of 360
Don't you just love those late friday afternoon RNS's looks like they have a major problem?
tristanshare - 08 Jul 2009 13:28 - 285 of 360
still no RNS about covenants, what cr@p is that! Guess they were tested on 30th June, down she goes..........
Clubman3509
- 08 Jul 2009 13:41
- 286 of 360
Toilet stock
tristanshare - 10 Jul 2009 13:01 - 287 of 360
OMG - look at this, it's not over after all
http://www.propertyweek.com/story.asp?sectioncode=36&storycode=3144462
Trying to buy some, proving difficult with these about to explode now they look they will survive after all!
http://www.propertyweek.com/story.asp?sectioncode=36&storycode=3144462
Trying to buy some, proving difficult with these about to explode now they look they will survive after all!
tristanshare - 10 Jul 2009 13:06 - 288 of 360
b@stards can't buy a sizeable amount, now nobody wants to sell these
tristanshare - 10 Jul 2009 13:14 - 289 of 360
got myself a handful finally
tristanshare - 10 Jul 2009 13:30 - 290 of 360
Minerva lifeline
10.07.09
By Deirdre Hipwell
Vulnerable London developer secures two-year reprieve from banks with 600m debt deal
Minerva, the listed London developer, has reached an agreement in principle with its main lenders to restructure its 600m-plus debt pile.
Property Week has learnt that within the next two months the London developer is expected to announce it has extended the maturity date for its investment loans for up to two years.
It will also reveal amended terms on all its non-recourse development loans, extending repayment dates, waiving and changing some covenants and removing some operational guarantees altogether.
Minerva has five main lenders: Deutsche Postbank, Nationwide Commercial Bank, HSH Nordbank, Landesbank Berlin and Lloyds Banking Group.
As a developer with virtually no income-producing properties, it is regarded as more exposed to the banking credit crunch than others, and speculation about its survival has been rife.
In February, Minervas chief executive Salmaan Hasan, who was previously head of property finance at Deutsche Postbank before joining Minerva, warned there was significant doubt about its ability to continue as a going concern if existing market conditions and property valuations do not improve.
Its level of gearing jumped from 46% to 67% in the second half of 2008 and the average interest cost of its debt, excluding joint ventures, was 6.6%.
Around 11% of its borrowings are scheduled to mature next year.
Minervas two main development projects are City of London office schemes Walbrook on Cannon Street and St Botolphs near Aldgate Underground station.
Deutsche Postbank and Nationwide financed the 445,000 sq ft Walbrook scheme with a 275m facility that included 75m to refinance existing bank debt.
HSH Nordbank and LandesBank Berlin provided a 315m facility for the development of St Botolphs, which is around 20% prelet to Lockton Insurance Company.
Minervas development loans, which include other schemes such as the Lancaster Gate residential scheme overlooking Hyde Park, have no interest cover ratio covenants and are only repayable two years after practical completion.
However, the restructuring, if approved, will waive some loan-to-value covenant tests and remove some guarantees altogether, such as prelet targets that were set to be achieved two years after practical completion.
Deutsche Postbank and Lloyds Banking Group are also thought to have extended a repayment date on a loan drawn down to finance the purchase of most of the Park Place site in Croydon. Last month Croydon Council ended its development agreement with Minerva.
Minerva is still finalising the negotiations but it is thought to have achieved credit approval from its banks. Minerva is also still looking at other ways to raise funds, including selling its London West End headquarters at 42 Wigmore Street.
A Minerva spokesman said: We stated on 8 May that Minerva is engaged with its long-term relationship banks regarding the amendment of covenants and obligations to ensure the groups financing continues and is appropriate for the current economic environment.
10.07.09
By Deirdre Hipwell
Vulnerable London developer secures two-year reprieve from banks with 600m debt deal
Minerva, the listed London developer, has reached an agreement in principle with its main lenders to restructure its 600m-plus debt pile.
Property Week has learnt that within the next two months the London developer is expected to announce it has extended the maturity date for its investment loans for up to two years.
It will also reveal amended terms on all its non-recourse development loans, extending repayment dates, waiving and changing some covenants and removing some operational guarantees altogether.
Minerva has five main lenders: Deutsche Postbank, Nationwide Commercial Bank, HSH Nordbank, Landesbank Berlin and Lloyds Banking Group.
As a developer with virtually no income-producing properties, it is regarded as more exposed to the banking credit crunch than others, and speculation about its survival has been rife.
In February, Minervas chief executive Salmaan Hasan, who was previously head of property finance at Deutsche Postbank before joining Minerva, warned there was significant doubt about its ability to continue as a going concern if existing market conditions and property valuations do not improve.
Its level of gearing jumped from 46% to 67% in the second half of 2008 and the average interest cost of its debt, excluding joint ventures, was 6.6%.
Around 11% of its borrowings are scheduled to mature next year.
Minervas two main development projects are City of London office schemes Walbrook on Cannon Street and St Botolphs near Aldgate Underground station.
Deutsche Postbank and Nationwide financed the 445,000 sq ft Walbrook scheme with a 275m facility that included 75m to refinance existing bank debt.
HSH Nordbank and LandesBank Berlin provided a 315m facility for the development of St Botolphs, which is around 20% prelet to Lockton Insurance Company.
Minervas development loans, which include other schemes such as the Lancaster Gate residential scheme overlooking Hyde Park, have no interest cover ratio covenants and are only repayable two years after practical completion.
However, the restructuring, if approved, will waive some loan-to-value covenant tests and remove some guarantees altogether, such as prelet targets that were set to be achieved two years after practical completion.
Deutsche Postbank and Lloyds Banking Group are also thought to have extended a repayment date on a loan drawn down to finance the purchase of most of the Park Place site in Croydon. Last month Croydon Council ended its development agreement with Minerva.
Minerva is still finalising the negotiations but it is thought to have achieved credit approval from its banks. Minerva is also still looking at other ways to raise funds, including selling its London West End headquarters at 42 Wigmore Street.
A Minerva spokesman said: We stated on 8 May that Minerva is engaged with its long-term relationship banks regarding the amendment of covenants and obligations to ensure the groups financing continues and is appropriate for the current economic environment.
tristanshare - 10 Jul 2009 14:03 - 291 of 360
imagine the takeover price now from Kirsh and or Shamoon, more than that 40p rumoured before, with these surviving after all!
blackdown - 10 Jul 2009 15:13 - 292 of 360
Says it all really. Market cap 21M, net debt 600M. Only being kept alive as the lenders don't want to have to deal with the unlet properties.
halifax - 10 Jul 2009 17:11 - 293 of 360
on life support keep pumping.
tristanshare - 10 Jul 2009 22:21 - 294 of 360
still life in this one...could be an amazing recovery story unfolding
tristanshare - 11 Jul 2009 12:08 - 295 of 360
http://www.dailymail.co.uk/money/article-1198937/MARKET-REPORT-Ailing-property-developer-Minerva-thrown-lifeline.html
"Its shares firmed 1p to 14.25p yesterday on a report in Property Week, the trade magazine, that it has secured a two-year reprieve from its bankers thanks to a 600m debt deal.
There was also vague gossip doing the rounds that the 1m square foot Park Place retail scheme in Croydon is not dead and buried.
Minerva has apparently found a new partner who will front a re-submission of planning proposals for the site."
"Its shares firmed 1p to 14.25p yesterday on a report in Property Week, the trade magazine, that it has secured a two-year reprieve from its bankers thanks to a 600m debt deal.
There was also vague gossip doing the rounds that the 1m square foot Park Place retail scheme in Croydon is not dead and buried.
Minerva has apparently found a new partner who will front a re-submission of planning proposals for the site."
tristanshare - 12 Jul 2009 19:01 - 296 of 360
expecting this to open up tomorrow with this media coverage over the weekend
a top up tomorrow me thinks before this gets motoring in the run upto the confirmation RNS which can come at anytime, with fewer sellers now (knowing this has returned to life) and not forgetting the bid rumours that always circulate around this share too, this has multi-bags of potential IMHO
a top up tomorrow me thinks before this gets motoring in the run upto the confirmation RNS which can come at anytime, with fewer sellers now (knowing this has returned to life) and not forgetting the bid rumours that always circulate around this share too, this has multi-bags of potential IMHO
Clubman3509
- 13 Jul 2009 07:50
- 297 of 360
More chance of making money betting on who will win Big Brother.
tristanshare - 13 Jul 2009 07:52 - 298 of 360
I'll bet on BB with my winnings from MNR
tristanshare - 13 Jul 2009 08:08 - 299 of 360
Feel free to join in, u know u want to, rather than watching this rise from the sidelines lol
Clubman3509
- 13 Jul 2009 10:38
- 300 of 360
Better be quick before your winnings turn to losses
tristanshare - 28 Jul 2009 15:47 - 301 of 360
Clubman I surrender that this share is indeed useless, the market recovery has seen stocks rise week on week, this piece of sh1t just hangs around this level.
Aanyway the world recovery is about to commence the second wave down (Short DOW 9080 and Short GBP/USD 1.6460).
Aanyway the world recovery is about to commence the second wave down (Short DOW 9080 and Short GBP/USD 1.6460).
tristanshare - 04 Aug 2009 16:21 - 302 of 360
OMG they will survive after all!
RNS out tomorrow, get in, I can't be bothered am on hols.
RNS out tomorrow, get in, I can't be bothered am on hols.
tristanshare - 04 Aug 2009 16:26 - 303 of 360
covenant news with a bid is the rumour
navman - 04 Aug 2009 19:44 - 304 of 360
Went long on these this afternoon, anyone else a shareholder? Excited by the fact lots of positive news is pending and is rumoured (press articles of late about banking covenants and bids), good luck to all
navman - 05 Aug 2009 12:18 - 305 of 360
surprise no posts on this thread, just sold and banked fastest profits ever!
gmans - 10 Sep 2009 12:09 - 306 of 360
you sold out too quickly matey should have held on this is going to double by Monday as 2 seperate contacts have confirmed that there will be no rights issue and covenants have been relaxed with the additional bonus that a big letting has also been signed. RNS should be out tomorrow and then the weekend media will love this recovery up and Monday will see an even bigger rise.
They have not entertained any bids because interested parties wanted covenants sorted first so expect bid activity next month.
DYOR
They have not entertained any bids because interested parties wanted covenants sorted first so expect bid activity next month.
DYOR
gmans - 10 Sep 2009 14:55 - 307 of 360
on the trading floor there is alot of chatter about MNR you will be thanking me very soon I assure you
gmans - 10 Sep 2009 17:10 - 308 of 360
will not be surprised if you don't get a chance to buy sub 30p again
gmans - 10 Sep 2009 18:29 - 309 of 360
Chatter continues into the evening bars lots of positives to be released to the market tomorrow and next week
gmans - 11 Sep 2009 06:47 - 310 of 360
,
Toya
- 11 Sep 2009 07:14
- 311 of 360
Thanks gmans - it'll be interesting to see what happens with this. I'd had it on my watchlist and seen the rise in sp and general activity
gmans - 11 Sep 2009 07:56 - 312 of 360
what is coming from the very strong rumours once confirmed will wake the market up to this share and then you will see what a rise in sp really is
adsan - 11 Sep 2009 07:58 - 313 of 360
added to my list now thx
gmans - 11 Sep 2009 08:02 - 314 of 360
i did say last orders for sub 30p
gmans - 11 Sep 2009 08:08 - 315 of 360
enjoy...
gmans - 11 Sep 2009 08:19 - 316 of 360
MMs want your stock they are holding the price at the moment in the hope to get sellers if they move it up this will increase the buyers but they can't suppress the price which is beginning to move as I type
adsan - 11 Sep 2009 08:28 - 317 of 360
long 31p before everyone else realises
gmans - 11 Sep 2009 08:33 - 318 of 360
once through 31p it will move very quickly as nearly all the MMs are blue
gmans - 11 Sep 2009 08:38 - 319 of 360
this is yet to even get noticed although it is creeping up the leaderboard
gmans - 11 Sep 2009 08:45 - 320 of 360
not much interest from anyone so i'll stop posting and talking to myself
Clubman3509
- 11 Sep 2009 08:53
- 321 of 360
First sign of madness
adsan - 11 Sep 2009 09:24 - 322 of 360
Gmans thx 4 highlighting this, you madman (just joking) LOL
gmans - 11 Sep 2009 09:47 - 323 of 360
Making fun of me are we?
well we will see who has the last laugh
well we will see who has the last laugh
Clubman3509
- 11 Sep 2009 10:33
- 324 of 360
Paranoia can also be a bad sign for early mental problems
adsan - 11 Sep 2009 11:10 - 325 of 360
stupid me for following a ramper and buying into these am going to sell out it is falling now
gmans - 11 Sep 2009 12:38 - 326 of 360
its a rumour strong one not true until confirmed by the market of course
Clubman3509
- 11 Sep 2009 12:42
- 327 of 360
Was it posted by a car dealer, or maybe a Banker, Lawyer
gmans - 14 Sep 2009 12:04 - 328 of 360
latest...
No bid interest
No lettings secured
Covenants still not signed and sealed, still negotiations in progress, rights issue expected at 20p
Results pushed to october which is the next RNS, no news will be released to the market before then, not going to go bust but things not as positive as hoped!
No bid interest
No lettings secured
Covenants still not signed and sealed, still negotiations in progress, rights issue expected at 20p
Results pushed to october which is the next RNS, no news will be released to the market before then, not going to go bust but things not as positive as hoped!
Toya
- 17 Sep 2009 09:23
- 329 of 360
... however, climbing up nicely this morning: up 7.75% and showing me a good profit. Tempting to sell but think I'll hold.
wbenz - 21 Sep 2009 08:26 - 330 of 360
Contacted the company and we will have to wait until early October until we get some news so guess we will have to wait another couple of weeks. In the meantime think this will fall back down as alot of hot money was in for news to be out this past week, it's currently 34/35 but not looking so strong on level 2. It has risen since the bandwagon rise from 15p so over a 100% profit to be locked in already for many.
Also FTSE expected to fall back as the rally since March can't be sustained. Think people have mistaken the end of recession to mean back to normality IMHO.
Also FTSE expected to fall back as the rally since March can't be sustained. Think people have mistaken the end of recession to mean back to normality IMHO.
wbenz - 21 Sep 2009 15:46 - 331 of 360
FTSE down 60 points so far, MNR down 2p likely to accelerate down further tomorrow if the DOW does not recover from 80 points down at the moment. Could well be the start of the correction to the recent rally.
Toya
- 21 Sep 2009 16:21
- 332 of 360
I sold this morning - not going to risk it!
Toya
- 22 Sep 2009 08:07
- 333 of 360
Today's RNS:
MNR - Successful conclusion of debt refinancing
Hmm... held on to a small number of shares but should have been more patient with the rest. This is good news!
MNR - Successful conclusion of debt refinancing
Hmm... held on to a small number of shares but should have been more patient with the rest. This is good news!
wbenz - 22 Sep 2009 08:48 - 334 of 360
i reduced yesterday and bought back today on this news, I did very well on QED in a similar situation, look at their SP!
wbenz - 22 Sep 2009 08:48 - 335 of 360
.
wbenz - 22 Sep 2009 08:48 - 336 of 360
.
wbenz - 22 Sep 2009 09:05 - 337 of 360
don't miss the boat
not many stocks like this recovering one around with so much upside potential
not many stocks like this recovering one around with so much upside potential
Toya
- 22 Sep 2009 09:06
- 338 of 360
I held QED a long time ago but never got back into it - well done for spotting it
wbenz - 22 Sep 2009 09:09 - 339 of 360
best to be in early before the heard which will inevitably push this much higher and as the news gets out it will open up even higher tomorrow!
wbenz - 22 Sep 2009 09:18 - 340 of 360
it is normal to think this has peaked and then when you look it has gone even higher just wait and see when you see these at double the price wondering why you were paused waiting for a 1p retrace lol
Toya
- 22 Sep 2009 09:19
- 341 of 360
Certainly glad I held onto some of MNR - showing a great profit and will just keep them now for long-term
wbenz - 22 Sep 2009 09:32 - 342 of 360
can't buy online and over the phone asking a premium over the ask lots more to come
Clubman3509
- 22 Sep 2009 09:35
- 343 of 360
Same could be said if it tanks if large shareholders decide to cash in on current rise.
wbenz - 22 Sep 2009 09:46 - 344 of 360
Anybody else watching Bloomberg? Wonder how many will start jumping into this now it has been mentioned on there!
wbenz - 22 Sep 2009 11:03 - 345 of 360
more press coverage
http://proactiveinvestors.co.uk/companies/news/8382/minerva-soars-on-news-of-successful-debt-refinancing-8382.html
http://proactiveinvestors.co.uk/companies/news/8382/minerva-soars-on-news-of-successful-debt-refinancing-8382.html
wbenz - 22 Sep 2009 11:05 - 346 of 360
and more
http://www.bloomberg.com/apps/news?pid=20601102&sid=aHw9wZNhEFSg
http://www.bloomberg.com/apps/news?pid=20601102&sid=aHw9wZNhEFSg
wbenz - 22 Sep 2009 11:06 - 347 of 360
and yet more
http://www.xe.com/news/2009-09-22%2002:49:00.0/686325.htm?c=1&t=
http://www.xe.com/news/2009-09-22%2002:49:00.0/686325.htm?c=1&t=
Clubman3509
- 22 Sep 2009 11:14
- 348 of 360
Rampers are very active today, beware pump & dump
wbenz - 22 Sep 2009 11:27 - 349 of 360
ok will do thanks Clubman
wbenz - 22 Sep 2009 12:13 - 350 of 360
volume to support the rise now over 6 million
Clubman3509
- 22 Sep 2009 12:29
- 351 of 360
Many punters being sucked in now. I just placed a large short trade.
Fantastic stock for shorters.
Fantastic stock for shorters.
wbenz - 22 Sep 2009 13:00 - 352 of 360
short on confirmation of covenants relaxed you must want to lose money
wbenz - 22 Sep 2009 13:18 - 353 of 360
40p could be taken out very soon and then you will wished you had not waited to buy
last orders sub 40p! many will be kicking themselves tomorrow when this opens up even higher tomorrow
last orders sub 40p! many will be kicking themselves tomorrow when this opens up even higher tomorrow
wbenz - 22 Sep 2009 14:36 - 354 of 360
Clubman you deramper but I do agree this is being heavily ramped on all BBs and a fall back to low 30s is possible in the gap now until results and mass profit-taking that will ensue
Many people don't research that is there own mistake
Fundamentally we all know this is overpriced in comparison to their NAV but that will become clearer upon results next month
DYOR
DYOR
Many people don't research that is there own mistake
Fundamentally we all know this is overpriced in comparison to their NAV but that will become clearer upon results next month
DYOR
DYOR
Clubman3509
- 22 Sep 2009 15:27
- 355 of 360
Just increased my short position, used the wife and childrens savings pot. Should be able to put it back in a couple of days and buy my new beamer
wbenz - 22 Sep 2009 15:56 - 356 of 360
whatever clubman, i sold and locked in my profit, before the pump and dumpsters do
Clubman3509
- 22 Sep 2009 15:58
- 357 of 360
Good call benz. Now go short and make some big money
jayazee - 02 Oct 2009 07:52 - 358 of 360
i followed these a while back, good news that they have completed negotiations, huge debt though and not a dead dog, alot of ramping everywhere on this stock, with the market sentiment changing as the DOW clearly indicated last night, illiquid stocks like this will fact back quickly and sharply, may have another look next week if there is anything in their results to suggest these are undervalued
mitzy - 26 Mar 2010 08:16 - 359 of 360
Cant beleive I bought these at..6p.
mitzy - 06 Apr 2010 13:55 - 360 of 360
These are going all the way.
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