Share Name Share Symbol Market Type Share ISIN Share Description
Axa Property LSE:APT London Ordinary Share GG00BDC40227 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.25p -0.42% 58.75p 57.50p 60.00p - - - 10,164.00 16:35:12
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 0.0 1.6 2.1 28.2 18.69

Axa Property Share Discussion Threads

Showing 626 to 650 of 650 messages
Chat Pages: 26  25  24  23  22  21  20  19  18  17  16  15  Older
DateSubjectAuthorDiscuss
23/3/2017
14:10
Prospects The Manager continues to work on the sale of the last remaining property, the Multiplex cinema complex outside Bergamo, east of Milan. A number of interested buyers have come forward over the last year but it has not been possible to convert such interest into an acceptable sale transaction. The holding is a modern purpose designed building next to a busy shopping centre, and the Company receives, contracted for nearly 8 years, rental income from a major film distribution organisation.(UCI Italia) The Board, the Manager and their agents, believe it is in the interests of the shareholders to persist in the marketing campaign and not adopt a "forced sale" approach. As this process could well continue for some time the Board, over the next few months will review the various options available to minimize the Company's expenses Charles Hunter Chairman 21 March 2017
davebowler
21/3/2017
17:57
No sign of the Half Year Report that according to the NAV announcement on 28 Feb would be released in the "next few days". Hopefully the delay is due to news on the sale of the Italian property.
culver
21/2/2017
07:32
I may buy some if it goes a bit lower
robizm
20/2/2017
21:03
someone bought 200k at 65p; seems they forgot the redemption date.
deadly
16/2/2017
12:59
So, if you bought today, would you have 44% redeemed? I believe the answer to that is "Yes" (subject to it actually being 44.74%) but you should check with your broker if unsure. Sorry, I don't understand the first part of your comment. My understanding of the RNS is that at close of business on the record date 17 February 44.76% of any shares held will be redeemed for 71.4p per share on 1 March. The remaining 55.24% of shares held will convert to a new ISIN at market opening on 20 February (although some brokers will take longer to process - I'm thinking here of Barclays in particular).
redhill9
16/2/2017
12:18
Ex dates are normally Thursday while record is Friday. So, if you bought today, would you have 44% redeemed?
langland
16/2/2017
11:22
I don't think so - the record date is close tomorrow. Fro the RNS: EXPECTED TIMETABLE Redemption Announcement date 02 February 2017 Redemption Date, Redemption Record Date, 17 February 2017 (close of expiry of Old ISIN business) New ISIN enabled, CREST Accounts credited 20 February 2017 Payment of proceeds date 01 March 2017
redhill9
16/2/2017
07:05
Presumably the price will be ex the redemption today.
langland
13/2/2017
16:18
To nibble or not to nibble, that is the question. Whether 'tis nobler in the mind to take the cash or to buy more, bank the 7p per share difference in the redemption price for 44 per cent of the shares and be left with a single Italian asset. Just not quite sure there's enough margin of safety here in advance of knowing the results position.
nk104
03/2/2017
16:04
Thanks Redhill. Look forward to seeing the Interims out end Feb which should give indication of NAV including cash remaining and value of remaining property.
atholl91
03/2/2017
11:51
atholl91, I suggested something in excess of 50% so the distribution 44.76% is lower than I guessed could be afforded. I was estimating the respective ratios of the three asset components of Rothenberg, Curno and Cash/Debtors/Creditors within the asset mix based on previous figures and these ratios may have changed, plus what is unknown is how much cash the directors consider prudent to retain, and what impact there may be of outstanding debtors/creditors (although I'd assumed these would have minimal effect). I'm not unhappy as the distribution per share of 71.4p is top-end of what might have been expected, and the previous APT comments on 31 October about anticipating a sale of Curno (the one remaining property) within 12 months is encouraging for the prospect of another significant distribution this year as either a final payment or one that settles most of the remaining asset value. It was possible to buy APT at 64p for the first couple of hours yesterday before the market worked out the figures - arguably a bargain in the circumstances.
redhill9
03/2/2017
09:41
Redhill, re 622 post shouldn't redemption have been 10/15% higher?
atholl91
02/2/2017
17:12
delayed reaction to the news, but a few buys later.
deadly
02/2/2017
11:01
LSE:APT OKSearch Axa Property Share News (APT) 5 Follow APT Share Name Share Symbol Market Type Share ISIN Share Description Axa Property LSE:APT London Ordinary Share GG00BD5J7902 ORD NPV Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade -0.50p -0.80% 62.00p 62.50p 65.00p 64.00p 62.00p 64.00p 77,458.00 10:17:49 Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m) Real Estate Investment & Services 0.0 1.6 2.1 29.8 35.70 Print Alert AXA Property Trust Redemption 02/02/2017 7:00am UK Regulatory (RNS & others) TIDMAPT AXA PROPERTY TRUST LIMITED (a closed-ended company incorporated with limited liability under the laws of Guernsey with registered number 43007) REDEMPTION ANNOUNCEMENT Further to the passing of the Special Resolution by the requisite majority at the Extraordinary General Meeting held on 27 February 2014 and the powers therein granted to the Board, the Company will return approximately GBP18.4 million to Shareholders, equivalent to approximately 31.96 pence per Share, on 17 February 2017 (the "Redemption Date") by way of a redemption of a proportion of all Shareholders' holdings of Shares (the "Redemption"). Words and expressions that were defined in the Circular posted to shareholders on 4 February 2014 (the "Circular") shall have the same meaning where they are used in this announcement, except where the context requires otherwise. The Redemption Price per Share shall be 71.40 pence, by reference to the NAV per Share as at 30 September 2016. The Redemption will be effected pro rata to holdings of Shares on the register at the close of business on the Redemption Date. Approximately 44.76% of the Company's issued share capital will be redeemed on the Redemption Date (that is approximately 44.76 Shares for every 100 Shares held (the "Relevant Percentage")). Fractions of Shares will not be redeemed and so the number of Shares to be redeemed for each Shareholder will be rounded down to the nearest whole number of Shares. Following the completion of recent real estate sales as part of the Company's disposal programme more fully described in the Circular, the Company currently has approximately GBP18.4 million in unallocated cash, making this an appropriate time to distribute to Shareholders the unallocated cash. Further redemptions will be issued as cash reserves are made available for distribution. The costs and expenses of this Redemption are estimated not to exceed GBP7,500, equivalent to approximately 0.01 pence per Share being redeemed. The Company currently has 57,577,470 Shares in issue of which none are held in treasury. All of the Shares redeemed on the Redemption Date will be cancelled. A further announcement will be released following the Redemption Date to confirm the new number of Shares in issue. The Shares will be disabled in CREST on the Redemption Date and the existing ISIN, GG00BD5J7902 (the "Old ISIN"), will expire. A new ISIN, GG00BDC40227, in respect of the remaining Shares which have not been redeemed (the "New ISIN") will be enabled and available for transactions from and including the first Business Day following the Redemption Date. Up to and including the Redemption Date, Shares will be traded under the Old ISIN and as such, a purchaser of such Shares will have a market claim for a proportion of the redemption proceeds. CREST will automatically transfer any open transactions as at the Redemption Date (which is the record date for the purposes of the Redemption) to the New ISIN. Payments of redemption proceeds are expected to be effected either through CREST (in the case of Shares held in uncertificated form) or by cheque (in the case of Shares held in certificated form) within 8 Business Days of the Redemption Date. Shareholders will be paid their redemption proceeds in Sterling. EXPECTED TIMETABLE Redemption Announcement date 02 February 2017 Redemption Date, Redemption Record Date, 17 February 2017 (close of expiry of Old ISIN business) New ISIN enabled, CREST Accounts credited 20 February 2017 Payment of proceeds date 01 March 2017
davebowler
02/2/2017
08:42
Redemption Announcement Redemption Date - 17 February 2017 The Redemption Price per Share shall be 71.40 pence Approximately 44.76% of the Company's issued share capital will be redeemed Payment of proceeds date - 01 March 2017
kalkulacka
30/12/2016
15:49
30th December 2016 AXA Property Trust Limited Repayment of Debt Facility Following the Company's recent announcements regarding property sales, the Directors are pleased to confirm that the Company has fully repaid its debt facility with Crédit Agricole-CIB prior to the maturity date of 31st December 2016.
davebowler
07/12/2016
11:27
Yes, and note this part: Completion is expected at the end of January 2017. Following the receipt of funds net sales proceeds, together with surplus cash reserves, will be returned to shareholders as soon as practicable. Edited: Rothenburg represents a lower proportion of the property element of the NAV than the property at Curno in Italy (I reckon ratio of c.46% to 54%) so adding in surplus cash that should mean something in excess of 50% of the NAV returned sometime from mid-February onwards. Apologies, first version had ratios reversed.
redhill9
07/12/2016
10:06
Rothenburg is sold at 1.7 per cent below NAV. 22.02 million Euros.
nk104
30/11/2016
13:16
Quarterly results are out: QUARTERLY RESULTS Net Asset Value (“NAV”) as at 30 September 2016 was 71.40 pence per share, an increase of 6.3% compared to the prior quarter (30 June 2016: 67.20 pence per share). In the three months to 30 September 2016, the Group made a net profit after tax of £0.43m. The closing share price was 56.63 pence per share at 30 September 2016. Compared to the Net Asset Value per share at 30 September 2016, this represents a discount of 14.77 pence (-20.7%). MANAGED WIND-DOWN STATUS The disposal strategy continues with the marketing of the Trust’s remaining assets. Post-quarter the Company, together with its joint venture partner, completed the sale of the property at Agnadello, Italy. The sales price of €23.2 million (at joint-venture level) reflects a discount of 1.3% below the asset’s independent valuation as at 30 September 2016. At Rothenburg, marketing continued and second-round bids were received during the quarter. A preferred bidder was selected and exclusivity was granted for the bidder to complete detailed due diligence. Post-quarter negotiations are being finalised with the aim of contracting for a sale by the end of December 2016, in which case completion is expected in early 2017. The remaining asset at Curno remains available for sale but interest has been limited despite the asset’s resilient cashflow.
nk104
28/11/2016
10:49
Any chance of the Italian referendum being a fly in the ointment. I'm working on the assumption that the referendum will be lost and that Renzi will resign.
nk104
07/11/2016
16:40
7 November 2016 AXA Property Trust Limited Update on Asset Disposals The Board of AXA Property Trust Limited is pleased to announce that the Company, together with its joint venture partner, has entered into a binding contract for the sale of the property at Agnadello, Italy. The sales price reflects a discount of 1.3% below the asset's independent valuation as at 30 September 2016. Completion is due by 30 November 2016 and net sales proceeds will be used to pay down the Company's outstanding debt Facility with Crédit Agricole CIB. Following the sale of Agnadello, the Company will own two remaining assets, located in Germany and Italy respectively. Further updates on the sales programme will be provided in due course.
davebowler
07/11/2016
16:40
Yes. good news on progress. They say price was 1.3% below the 30/9 valuation but we don't know what that was as last published figure was for 30/6. However assuming there wasn't much difference I reckon proceeds should have been c.£10.9m with c.£10.0m of that used to fully repay outstanding debt leaving c. £0.9m increase in Cash with no debt remaining. Rothenburg the next step with comments in the Annual Report seeming to suggest a sale at a higher value than the last published NAV. That sale should also trigger a further share redemption.
redhill9
07/11/2016
16:38
Discount of 1.3 per cent, I'll take that.
nk104
07/11/2016
16:22
Good news, probably was leaked earlier to explain the recent moves: .....has entered into a binding contract for the sale of the property at Agnadello, Italy. The sales price reflects a discount of 1.3% below the asset's independent valuation as at 30 September 2016. Completion is due by 30 November 2016. The Company will own two remaining assets, located in Germany and Italy respectively.
deadly
01/11/2016
18:04
Hi onwego, For my quick calculation I approached it from the perspective of what the NAV should have become now after allowing for the 8.3% exchange movement, I then applied that to the respective remaining assets and liabilities after the Dasing sale. I've now had time to do it in more detail and realise I hadn't allowed for the amount of loans repaid after cash from the Dasing sale so although my net position is unchanged the proportion of cash available after the two current sales is higher than I suggested. My workings as follows: As a control figure, the NAV of £38.694m at 30 June becomes £41.906m on 31 October after exchange revaluation by 8.3%. Shares in Issue are 57,577,470 which give NAV per share of 67.2p at 30 June and 72.8p at 31 October (as per my previous post). My Summarised Balance sheet at 31 October: Properties Under Offer (Rothenburg & Agnello) £31.2m Cash £10.1m Less: Loans (estimate after Dasing reduction) £10.0m = Cash Available £31.3m Add: Property unsold (Curno) £13.3m Less: Net Debtors/Creditors/Provisions £ 2.7m = Net Assets £41.9m Cash available of £31.3m, assuming sales of Rothenburg and Agnello complete and loans fully repaid , represents almost 75% of NAV. Retaining £6m cash would still enable a distribution of 60% of NAV on completion of Rothenburg & Agnello sales, say within several months. Note my figures ignore any variation in property values since 30 June, e.g. APT seem to be suggesting that Rothenburg value has significantly increased after the year end of 30 June. As davebowler says, there is a currency risk but personally I'm not betting on Sterling strengthening significantly against the Euro in the short term.
redhill9
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