Atlas Estates Share Discussion Threads

[steve36] 18/5/2010 16:41

This smells a bit. An offer at less than 50% nav from a company connected with the property management company. The board consider it a fair offer and unanimously recommend it to shareholders, yet the only director who owns any shares is not intending to accept the offer himself. I have never seen that before even on AIM.

They have got 63% acceptances so far (56% plus 7% committed). They always had 26% and acquired 14% from CVW (7% plus 7% committed), which equals 40%. It looks to me as if the other 23% was held by two Cypriot companies, Lockerfield and Finiman that are connected with each other. Probably just coincidence that Fragiolig is also a Cypriot co.

I wonder what Livermore (21%) are going to do. If they sell then us poor squeezed PI's may as well give up as well.

[sammu] 19/4/2010 23:33

Yes as you say.

Apparently:
"The Offer provides Atlas Shareholders with an opportunity to realise
their investment in Atlas for cash at a price that fully reflects the future
prospects of the business."

90p - there is no way that 90p fully reflects the future prospects!

The board better put up a fight.

[spectoacc] 15/4/2010 12:23

Has the feeling of a typical AIM major shareholder steal to me.

[sammu] 14/4/2010 22:25

90p my ar*e!
With a non adjusted NAV of about 213p. Adjusted NAV is 260p.

They might have had a chance if they had gone for say 130p. (still too cheap)

I assume it is Livermore, but there are a few other significant shareholders.

Maybe this is an opening salvo. Or maybe they want to put it into play to see if anyone will turf up to pick it up for a decent price.

Livermore valued Atlas at an impaired rate of euro2.07 in their interim results, since when things have usefully improved:

[spectoacc] 14/4/2010 15:27

LIV trying to get them on the cheap I presume.

[qs9] 15/3/2010 13:46

Great move up, anyone in?

[scruffydave] 17/9/2009 09:44

off topic but take a look at wner (Warner Estate)

Also news today...

[gekko3] 07/1/2009 07:38

i am confussed by the egm statement that was posted after the market close. can anyone tell me what the rns means??

[cnx] 17/11/2008 16:46

i think the 9 month report gives some ground for optimism for those prepared to wait

but the share price decline is major concern

[cnx] 08/10/2008 15:13

i imagine the problems are
(1)the due dates or roll overdates for the bank loans. anybody got a feel for what is due in next 12 months?
(2) vacant sites/voids as tenants fail

do they have a realisation plan or are we looking at rental income and "ad hoc" sales

[sscrabble] 08/10/2008 10:10

charlatan - there is your 75p -


last figures show NAV of over £200m , and it has a cap of £30m at this level - if they survive the credit problems they must be a real bargain - any chance they will not?

[charlatan7] 24/8/2008 18:17

The graph here is indicating a fast nosedive to 120p, i will be a heavy buyer at 75pence, once i have aquired my shares i shall let you no hopers know so as you can share in my success.

[meadow50] 24/8/2008 18:15

cash outflow and passed divi... bad news.... "As a result, the Board has decided not to declare any dividend for 2008, believing that it
is more prudent to invest" .Strange way of showing confidence imo.
George

[cnx] 15/8/2008 02:03

interim results seem sound and there is air of confidence for the future

[cnx] 18/5/2008 14:50

their ability to refinance and obtain additional funds for current plans is essential

anyone has thoughts on recent 1/4ly report

[cnx] 18/5/2008 14:50

their ability to refinance and obtain additional funds for current plans is essential

anyone has thoughts on recent 1/4ly report

[cnx] 29/3/2008 01:12

yes i hold ddc and dtr as well

it was the very positive content and detailed report i really liked

[isa23] 28/3/2008 10:49

ddc yields 13.5%

[cnx] 28/3/2008 02:05

i consider the detailed annual report positive and it indicates a sound base for future income and asset growth.the yield at todays rate of exchange is 7.8%

[aleman] 03/3/2008 11:33

Editted - Wrong thread.

[hectorp] 03/3/2008 09:04

Yes fine results though not any buyers.. maybe the spread's putting them off.

[rogerbridge] 03/3/2008 08:11

Nice results today excellent increase in NAV.

[sammu] 14/2/2008 13:48

Adjusted Nav £4.29 as at 30.06.07. Results in April I think, should update NAV, hopefully a bit higher.
There may be some clues in the Warsaw prospectus that is available on their website. At 490 pages I haven't had a proper look at it yet.

[qs9] 12/2/2008 20:11

Looks good so far, big blip today, still a discount to NAV is it not?