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Van

Berkeley Director Sells Up

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Warning signs??

*********************

29 March 2006

Builder bales out

The period immediately after a results 'season' is typically an active one for boardroom dealing. Directors aren't allowed to buy or sell shares in a closed period before results, so once the figures have been presented to the City, the floodgates often open.

So it has proved this week, with sales by value outweighing purchases. One disposal in particular stands out from the rest; the disposal by Tony Pidgely of £11.65m worth of Berkeley units. Berkeley is in the midst of a transformation from a traditional housebuilder to an urban regeneration specialist, a process that involves substantial returns of capital to shareholders later this year and in subsequent years. His disposal appears to be a straight sale, unconnected with the granting or exercise of options, and the company said it could not comment on the reasons behind it. Others have pointed out that Mr Pidgley correctly called the last property market crash, but in its new guise, Berkeley would be less susceptible to the effects of a nasty shock in the housing market than traditional builders.

Directors at Persimmon, which was promoted to the FTSE100 index at the last review, have also been heavy sellers of stock, but company officials have been cited as saying this is related to tax liabilities on option grants.

*************

Smart cookie, that Mr Pidgley...

Edited by Van

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Ah that old chestnut, he predicted the last crash......

Yeah, apparently Roger Bootle did too. And Andrew Farlow etc etc.

They all sat around reading the Sunday Papers & declared to their wives that property was overvalued & whoosh, the crash happened the next day.

Luckily we have their wives recollection of that hung-over sunday morning discussion, so we can elevate their current status to guru's & all buy their reports and predictions.

:lol::lol:

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Ah that old chestnut, he predicted the last crash......

Yeah, apparently Roger Bootle did too. And Andrew Farlow etc etc.

They all sat around reading the Sunday Papers & declared to their wives that property was overvalued & whoosh, the crash happened the next day.

Luckily we have their wives recollection of that hung-over sunday morning discussion, so we can elevate their current status to guru's & all buy their reports and predictions.

:lol::lol:

Yeah yeah. Why would he sell up if he thought everything was hunkadory in the property market? School tuition fees, maybe? Or perhaps, being a director of a £1.2bn company, you'd think he'd know a thing or two about the state of the market.

You don't amass £11m in wealth without knowing a thing or two about when to buy and, just as importantly, when to sell.

Edited by Van

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Ah that old chestnut, he predicted the last crash......

Yeah, apparently Roger Bootle did too. And Andrew Farlow etc etc.

They all sat around reading the Sunday Papers & declared to their wives that property was overvalued & whoosh, the crash happened the next day.

Luckily we have their wives recollection of that hung-over sunday morning discussion, so we can elevate their current status to guru's & all buy their reports and predictions.

:lol::lol:

As the cattle truck sped TTRTR off to the slaughter house, he gleefully remembered Farm Browns last words to him........look forward to the future as an opportunity to maximise your true potential :D

Edited by Catch22

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As the cattle truck sped TTRTR off to the slaughter house, he gleefully remembered Farm Browns last words to him........look forward to the future as an opportunity to maximise your true potential :D

That's right. Optimism to the end. That's what built this world, doers optimism. The others simply were employees.

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That's right. Optimism to the end. That's what built this world, doers optimism. The others simply were employees.

Your an unpaid tax collector like the rest of us TTRTR. How are you my friend anyway - buying, selling or happy as you are.

I'd like to give you the usual verbiage but todays been a good day, so I'll be nice.

If fact, 'I think to myself - what a wonderful world'.

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Ah that old chestnut, he predicted the last crash......

Yeah, apparently Roger Bootle did too. And Andrew Farlow etc etc.

They all sat around reading the Sunday Papers & declared to their wives that property was overvalued & whoosh, the crash happened the next day.

Luckily we have their wives recollection of that hung-over sunday morning discussion, so we can elevate their current status to guru's & all buy their reports and predictions.

:lol::lol:

TTRR, Far from it being a causual converstation with his Mrs, he actually pro activley reduced his exposure so you can't really make light of his timing this time.

http://www.advfn.com/columns/akerman.php

"Those with a long memory will recall that Berkeley called the top of the last housing boom, and aggressively sold land assets just before the property crash. Could this be another example of shrewd timing by MD Tony Pidgely?"

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  • 301 Brexit, House prices and Summer 2020

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      • down 5% +
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