Commercial Group Properties shares had movement earlier today. A trade ocurred at 09.56 with 2000 shares being sold. The market now values shares at 25p from a high of 210p a year ago.
The Market Cap of £5.25 million must be causing concern to Brian Moritz ( picture) as CGP's Financial Director and pain to Ken Wills and Chris Seymour-Prosser who hold between them almost 66% of shares. A 10p drop today is not good news for them.
On another note, I am reliably informed that as dawn broke yesterday on the B2190 at Manston, there was no sign of fence posts at Pouces Cottages. One must assume that KCC Highways concerns were actioned by CGP or that a 'Fannit' opportunist has some interesting logs on his fire tonight!
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2 comments:
Bertie with another trade today 5p lower than yesterdays and with more shares being offered at 25p it looks as though they may fall again. As no trading occurred for over a month and now these small amounts I wonder what is going on, a market cap of £5.25m with bank borrowing over £24m certainly looks uncomfortable. I would imagine much of this rests on the real value of their land at Manston.
Michael, at the moment, their agricultural land holdings are just that. The value of farmland has settled back and unless TDC is able to re-designate this land for employment purposes, as I suspect GOSE and others will support, it will be still agricultural land and a re-adjustment of their holdings value will occur in due course. Looking at what happened at Dover, this will have to be written down as a 'loss' in the accounts.
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