Abrdn Property Income Share Discussion Threads

[bigbigdave] 02/1/2013 09:27

Looking good, news coming?

[cfro] 31/12/2012 16:10

Hopefully the New Year starting with the markets opening Wednesday will bring us some cheer.

[protean] 31/12/2012 10:54

On the 17th Dec, the IC reckoned that "we should have some news on this in the next few weeks". We're now 2 weeks on from that, so got to be fairly soon.

They also reckoned on "upside here towards 100p a share if a takeover materialises".

So a reasonably good chance of a 25% upwards move in a week or two if the takeover comes through, which many see as increasingly likely.

[greenroom78] 31/12/2012 10:31

Heading in the right direction again. Without sounding like a broken record, surely we must hear something soon?

[sportbilly1976] 31/12/2012 10:29

moving up nicely again this am on a few buys...

[protean] 31/12/2012 09:13

The Crystal Amber fund seems to be having a good run up with a number of decent holdings including API. Their website contains the recent Investors Chronicle article which rates both the fund itself and also SUH and API.

Can't be long until further news on the bidding now.

"Packaging materials group, API, is of keen interest, too, after the board put the company up for sale following pressure from major shareholders. The sale process is ongoing, but a sale looks likely after US activist fund and 32 per cent shareholder Steel Partners and 28 per cent shareholder Wynnefield Capital announced they want to sell out. The most likely bidders are trade buyers in Germany and the Middle East and foil-makers in Asia. It's even possible that Illinois Tool Works may bid even though its offer of around 100p a share was turned down seven years ago.

It's worth pointing out that API has a hidden and valuable asset in its New Jersey site which "covers 20 acres within the Manhattan commuter belt and is potentially worth a significant part of its market capitalisation" according to Crystal Amber, adding that even without a bid "reorganisation, investment and marketing initiatives combine to offer share price upside well in excess of 100p". I agree and, with API shares currently priced at 70p in the market, there could be significant upside from this holding, too.

It goes without saying that I rate Crystal Amber, Sutton Harbour and API all as buys."

[cockneyrebel] 28/12/2012 16:08

Nice buyiing here today - news come the New Year next week?

CR

[protean] 27/12/2012 12:07

Creeping up.

[sportbilly1976] 21/12/2012 16:21

don't think there is much to it other than a shuffle of holdings...but possibly they might want to improve one funds performance before the year-end?

[greenroom78] 21/12/2012 16:20

Ha ha, what a big tease.

[speedsgh] 21/12/2012 16:16

Announcement by API late on a Fri pm nearly gave me kittens!



In view of the current situation, should we read anything into this "reorganisation" disclosure by one of their major shareholders?

[soundbuy] 21/12/2012 16:14

So, sharing the spoils between funds then :)

[cockneyrebel] 21/12/2012 15:53

That's a whopper of a trade - perhaps API have a little Chrissy Pressy for us :-)

CR

[sportbilly1976] 21/12/2012 15:52

just under 3% of the shares in issue there too...

worked buy over the recent weeks?

[protean] 21/12/2012 15:43

It certainly can't be too far away now given the time they've taken so far.

And the bids must be at an acceptable price, otherwise they wouldn't have continued with the process.

Also good is the fact that there are a number of bidders so they will be competing with one another which will up the final price.

[greenroom78] 21/12/2012 15:36

Interesting.

I was involved in AUL and MDM takeovers recently and both of those saw very large volume changing hands in the days before. I wonder if this is a sign pointing towards an end game?

[cfro] 21/12/2012 15:35

Nailbitting stuff this !

[protean] 21/12/2012 15:32

Big 2m trade at mid price just gone through.

[protean] 21/12/2012 15:18

2v1 now with those few buys.

News on the sale can't be too far away.

[cockneyrebel] 21/12/2012 15:12

Still well within the chart trend imo.

CR

[sportbilly1976] 21/12/2012 13:17

A few nibbling back in today...added to the fact that it is now back onto the mid trend line from my previous chart (below) which should act as support

[protean] 20/12/2012 15:29

Drifting back a little. Some people not prepared to wait for the bid outcome it seems.

[sportbilly1976] 19/12/2012 15:47

looks like 58k of buys so far today, the majority around mid-price

[sportbilly1976] 19/12/2012 12:36

Protean,

fair point.

[protean] 19/12/2012 12:18

The interims on 29th Nov stated:

"Further to the expiry of the initial deadline at the end of October 2012, the Board can confirm that a number of indicative offers have been received and that the Company and its advisers are in discussions with a number of parties. As the next stage, due diligence information and management presentations are being provided with a view to securing revised proposals for the Board's further consideration."

So from the 29th Nov, the ongoing discussions had to be concluded, due diligence info and presentations sent out, revised proposals created by the bidders, and revised proposals considered by API.

It's certainly possible that these tasks could take longer than 20 days.