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Pochin's Share Chat :

the troll 18:02:16 11/06/2014
there's a development-land surplus of £3.4m though ( see RNS of 14th August last year ) NOT accounted for ( because it offends some arcane rule or other ) but does mean the ( adjusted ) tangible NAV = 77 p which I'm NOT happy to sell for 45 p & await the Chairman's justification letter with interest.
topvest 20:31:12 10/06/2014
Yes, but at least they have got the price up from below 40p to 45p. There is also a share alternative for those brave enough to hold this as a private company. The net asset value is only c60p - c£12m divided by 20m shares. I only have a few held for many years. Happy to just take the 45p and exit, but if I had a bigger position I would not be as happy.
the troll 18:00:14 10/06/2014
re; 9.6.2014 RNS; selling 77 p of net-tangible assets, inc £1.40 pps of appreciating commercial property, for approximately 45 pps ? ? my my, it will be interesting to see how the non-execs. ( acting in the interests of all shareholders remember ) justify a 58%+ discount to NAV in a recovering sector.
topvest 20:08:13 02/01/2014
I think an agreed bid is likely. The bidder must have been 100% sure that 40p would be rejected. They have just done it this way so that they pay 50-55p rather than 60-70p. Happy to cash up the small number I hold and move on.
jonwig 09:50:20 05/09/2012
I looked at this a few years ago. Yes, the asset backing is tempting, but I will never buy PCH, as the various family interests hold about 80% of the stock between them. There's a fashion for de-listing and this looks to be a prime candidate.
hybrasil 08:03:32 05/09/2012
This share was beloved of John Lee. It is quite a disaster. Its market cap is £5M against assets as of nov 2011 of £22m. A little turn in the construction world which if history is anything to go by must be coming could really turn these around. I hope when I look back at this post that I am correct!
jonwig 16:11:12 15/04/2009
With a MCap of £13.5m and net assets of £48.6m (all tangible) this ought to be a recovery situation. But ... there's the gearing, forecast (broker) of losses in 2010 and 2011 and over 50% of the shares are 'family' (or families).
M.T.Glass 10:45:04 21/11/2007
Broker downgrade yesterday (Charles Stanley). Some horrible words and phrases within that company statement. "Challenging".."difficult".. "cautious".."delays".. any one of which would sound like a warning bell.
Sleepy 11:43:43 09/02/2004
Congratulations - You must have made many hundred percent on your investment! I invest in a very small number of small companies and am finding it hard to find value at present. Have very few holdings at present but have held onto Pochins. I would be very interested to know what other shares you like? Sleepy
Forensic 19:22:39 04/02/2004
Yes I have been a long term shareholder in Pochins and have Annual Accounts back to 1986. The shares have been a very profitable investment. If the compound growth rate in net asset value continues at 12.3% per annum, then in 5 years time the NAV would have increased by over 78% (and the share price likewise if it goes up in line).

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