MNR - Minerva PLC

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Minerva plc is engaged in property investment, development and management. The Company has a diverse portfolio of developments comprising City of London offices, residential, mixed-use and town centre shopping. The Walbrook, London EC4, located in the City of London is a 445,000 square feet office and retail scheme, which is being developed. The Company’s Walbrook project is a development located in the City of London between Cannon Street and Bank stations. Its St Botolphs project is located at the eastern gateway of the City of London and comprises some 560,000 square feet of office and retail accommodation standing on a 1.25 acre island site.

Anyone else have Minerva stock? I was looking to buy at 14pence, was silly enough to think it will go down to 13p and in 1 day it shot up to 21pence lol. Bought at 21p, now it's at just over 32pence

From what i'm reading, a lot of people seem to be lining up to buy on Tuesday as all kinds of rumours are circling around ranging from potential offer for the company, renting of their major building (the entire thing) and positive talks on banking covenants.

It went up to 30p then people panic sold/ran for a profit once it dipped, hit 26p, held (fortunately i held too, didn't panic sell at lower price like others), then jumped again and seems to have broken the 30pence barrier well and proper now. Hoping to see it break 40pence this week - but then you never know, some people seem way too jittery.

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Hit a high of 35.60 pence today.

God only knows why, there's been no news whatsoever. Tempted to sell, but salivating at the thought of where this will be at if news hits. There's definitely two pieces of news expected, building lettings and the bank negotiations - just a matter of when. Plus the RNS the other day detailed Barclays also invested in Minerva towards the end of August.

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Hit high of 41.09 pence today on positive news regarding bank covenants. Sweet!

Anybody buy this at 32pence when i posted originally?

Really regret not getting in at 14 pence Just a note on this stock though something i've noticed, it seems to attract a lot of quick profit takers, like it'll take two steps forward and one step back, BUT that was on no news, now that news has been released, i don't know whether it will be more stable, especially considering theres some more news expected. Could be some wait though.

[super mike]

You've made yourself a tidy profit on this from the sounds of it. Nice one.

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Thanks

I invested just under 4k, hopefully i don't lose all of it

Looking to hold for a while longer (maybe even long term depending on how ballsy i get), it'll probably go down a bit again in the short term, but i didn't want to make the mistake i made with Yellow pages when i had 4.5k in at just under 22p, of course Yell hit a high of 80+ pence - still hurts thinking about that one

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Just over 53 pence today

I bought another £2000 worth @ 32pence recently as well when the price dropped.

Offer was made, it was rejected immediately as it was too low. Was tempted to sell even though while back i decided i wanted to hold until the begining of next year when Walbrook will have been let out. I'm not the best at making my mind up

Thing is, this offer was made even though the main building, Walbrooks, hasn't been rented out yet. All kinds of rumours about that building, ranging from big clients wanting a certain amount of space to even rumours about a big company wanting the entire building. I imagine once it starts getting let out, counter bids should be much higher, right? Walbrook is supposed to be finished in December.

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Hit 60 pence today

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Hit 82 pence today.

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congratulations mate - that nearly 400% for you and counting!

[BFG]

77p today when I checked, has this peaked or can more be squeezed? Good profit mate!

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There's still news on Walbrook to come which is their main building and pretty impressive (only just completed or at least should be). Once letting news comes on that the price is EXPECTED to go up further, BUT, you never know what will really happen and in the meantime, before the news comes (god knows when that will be), the price could go down further.

A lot of large institutions are investing at these higher prices though, Blackrock which everyone seems to respect, JP morgan, Citigroup etc.

I'm going to be holding for a while yet, at least until i see what happens with Walbrook; but i got lucky and got in quite low.

[Q-Ball]

This is sitting at 80p - is it still worth buying?

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There's still the Walbrook news to come as well as good news on Lancaster Gate development which is apparently getting early sales. No idea when Walbrook is going to be a done deal, but when it is, should go up.

Not sure whether 80 is a good price, as this stock has a tendency to go down a little and then hold, like after i posted the 82p info, it went down and stayed around 70pence for a bit.


Edit:
Someone posted this article on another board, thought some might like a read:

FOR those who like playing the waiting game, Minerva is a good bet. As expected, it swung to a profit while its net asset value (NAV) per share also continued to edge up, to 102p in December from 95p a month earlier.

There were no major letting announcements, however, which will come as a surprise to some investors. There are a “number of discussions underway” over its St Botolphs development, but talks on the on the 444,000 sq ft Walbrook building are merely “active”.

The Walbrook, which has been designed to house a big-hitting tenant, has missed out on some lucrative deals recently (BlackRock went to Songbird’s Drapers Gardens while Macquarie signed up at British Land’s Ropemaker). That has understandably left some investors a little tetchy.

With the shares now trading on 0.8 times December’s NAV, after strong share price performance in the last three months, the firm will need to announce a Walbrook signing soon. Still, the odds are stacked in its favour. With virtually no competing developments scheduled to come to market until 2011, Minerva is well-placed to capitalise on rising demand.

The next large firm to start office hunting in the City will have little choice other than to sign a lease at the Walbrook. With no rivals to push the price down, Minerva is sure to secure more than the £49 per sq ft that BlackRock paid for Drapers Gardens. Shrewd investors will accumulate shares before rumours of a Walbrook signing start to surface.

Source: http://www.cityam.com/news-and-analy...ut-strike-gold

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£1.04
£1.29 last week
£1.18 now

If it goes down more, going to buy some more as i sold 2/5 at 90p due to tax reasons and it shot up so fast. Mistimed my little sell off, wish i did it a while ago (or not at all), but i wasn't even thinking about these things back then.