Updates

Belvoir

February 2024

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

TMI NAP for 2024 Belvoir jumped after receiving an all-share take-over approach from rival the The Property Franchise Group (TPFG; 310p). The deal would give Belvoir shareholders 48.25% of the enlarged group, valuing Belvoir shares at 277.4p. It’s seems a miserable premium but the real jam is likely to come from retaining the shares in the enlarged group, which ends up with combined revenues in excess of £60m (41% recurring), with managed services fees of £27m and EBITDA of £22.5m. BLV directors and one large shareholder with a combined 22% have provided irrevocable commitments in favour and a further 9.2% provided non-binding letters of intent, so not yet a done deal. Await developments. ...

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Brickability

Belvoir (November 2023)

Belvoir (July 2023)

Belvoir (August 2022)

Belvoir (June 2022)

Beloir (February 2022)

Belvoir (November 2021)

Belvoir (September 2021)

Belvoir (July 2021)

Belvoir (June 2021)

Belvoir (February 2021)

Belvoir (November 2020)

Belvoir Group - Property franchise business trading comfortably ahead of expectations (March 2020)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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