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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Treveria | TRV | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.0021 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.0021 | 0.0021 |
| Top Posts |
|---|
Posted at 29/10/2014 17:07 by cerrito An upbeat assessment from RDI today on the German property market-retail sectorquote Prime yields in the key German markets have compressed by 20bps to 30bps in the 12 months to June 2014 (Colliers) and are now back to historically low levels. The pricing of prime assets has resulted in a noticeable increase in risk appetite with institutional investors moving into secondary assets and a general increase in the number of transactions focused on more asset management intensive portfolios. The availability of capital to invest in real estate from both German and international investors is expected to remain strong and currently outweighs existing available supply. Likewise, liquidity in the banking market remains robust and given the current interest rate environment, borrowing costs are likely to stay at exceptionally low levels. unquote |
Posted at 08/9/2014 16:44 by praipus Yet another arbitrageur on the registerI try to follow / track the rest of Damille's holdings on the WAM thread Allways interested to hear about other activist investors. I also wonder who sold Damille the stock presumably a protected trade as there has been no RNS yet. |
Posted at 24/9/2010 11:22 by cerrito Been going through the interims.Good to see that in the first half property valuation only fell by 0.2% and perhaps given recent pick up in German economy and retail there may even be in the second semester a modest revaluation. Indeed I note that the property valuation at both 30609 and 30610 was E1.837b. Alot of what they say about expanding the cost base to improve the asset management makes sense and also makes sense to close London office. Seems sensible that they are spending cash on tarting up the properties. Somewhat surprised at the slow rate of property sales The RETT issue will be a cloud over the company till final resolution which I guess could easily take 2 years. Move to IOM seems sensible and makes even more remote that Teveria PLC will have to pay the tax. Note that they had E100m in cash at 30610,E 36m of which was cash trapped and of the remaining E64m, £53m was held by the parent so it seems that the other E11m was held in silos E G and J. There is a useful presentation of the interims on the Treveria website- -. This rather alarmingly shows that the ERV of the vacant space increased from 7.86% to 10.83% in the first half.I guess that justifies the increased investment in personnel. Would have preferred that more voids be in C as the reality is that this is a writeoff. I am comfortable that what caused most of these vacancies especially the cancellations of C and A were a one off event and that we are unlikely to see a repetition of this now that the retail market in Germany has stabilized and of course management is now more on the ball.. Not entirely happy with the news of the RNS of September 15 that we no longer enjoy the protection of the City Code especially given shareholder structure and for me that represents a penalty of about E2c a share- a somewhat arbitrary figure I grant you. Makes sense not to have an interim dividend and i am wondering if we will be getting any dividends soon. I guess they will want to keep their powder dry as they get into restructuring negotiations with the banks as having the ability to make a partial cash payment will be a useful negotiating tool. Glad I bought some more a couple of months back; do not see any reason for the share price to move much higher in the immediate future but comfortable with what I have got. |
Posted at 15/1/2010 04:42 by ydderf with these recovering AIM stocks the biggest danger is usually a cheap buyout followed by a delisting, but with a highly motivated entrepreneur in the driving seat, it seems more likely that everything possible will be done - and fast - to extract shareholder value (for shareholders:)).my guess is that a combination of stable property values and financial engineering, will make it possible for an investor to recover the current share price in cash dividends and leave a rump with a nav of 20-30 cents to find a level in a recovering property investment market...after all the directors can hardly say that they intend to gut the company with the banks staring over their shoulders, can they? whatever happens i see very little downside at this price |
Posted at 13/1/2010 14:02 by norbert dentressangle Thanks miamisteve. I get the bit about returning cash, I thought it was in a separate account anyway and couldn't be migrated in to the company's main account (put simply for my benefit!) It's still left me scratching my head though, regarding what it's designed to achieve. share price is 15c, NAV was 40c at last report. So am I right in thinking that distributing cash to share holders is an effort to appease investors because the share price is too low, ie giving back some value, or is it in an effort to cause a share price fall and therefore present a greater disparity ratio from share price to NAV, ie to present a greater investment opportunity to those not invested? What's wrong with a share price that represents such a discount to NAV, surely if the market considers the company to be undervalued then the shares will find their own level (presumably higher) Sorry for being utterly thick! |
Posted at 13/1/2010 02:16 by miamisteve Norbert - The rational was spelt out by the company back on the 29th September. It did seem to have a positive effect on the share price after that point, up until the tax issue arose.-------------------- "For some time now, there has been a notable disconnect between the Company's share price and the Group's net asset value. The market capitalisation of the Company has been much more closely aligned with the level of cash within the parent company as investors take a cautious approach to the likelihood of medium term value within our four largest property sub-groups, or 'silos', given the high loan-to-value ratios and refinancing risk. "The board has therefore carefully judged all the relevant factors within the context of continuing to operate the business as a profitable and viable going concern. As a result and given the current strategy, the level of cash held by Treveria plc is surplus to its current needs. The board has therefore decided that it is in the best interests of its shareholders to return the surplus cash and, accordingly, it is proposed that the directors will recommend a distribution or return of surplus cash to the shareholders amounting to 10c per share equivalent to about EUR60.3 million." |
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