Brixton Share Discussion Threads

[lomax99] 22/6/2009 08:48

that was a close one, I actually added to my holding in the early 60's before ditching the lot last week as I was getting uncomfortable about the lack of apparent progress/communication.

[scburbs] 22/6/2009 08:48

By the way what is the point in agreeing to defer the bank covenant testing until 31 July if you are going to breach the bond covenants? (and how can you not comment on that point!)

[scburbs] 22/6/2009 08:45

Well I suspected the board weren't up to the job and they have conclusively proved that. Behind the curve in every single aspect of the current situation.

Given the price differential, anyone looking to buy might be better off buying SGRO (although they will probably increase if there is a credible counterbid, which given the delay I assume would have to be a new entrant). I suspect SGRO shareholders have told their board that if they want another £250m they had better make sure it is an excellent deal.

[gatdecor] 22/6/2009 08:42

sergro are now down 4.5% as well

[mercury123] 22/6/2009 08:40

Well I'm out with a nasty loss but will watch with interest. Good luck all holders

[dodopoo] 22/6/2009 08:33

does this open the door for other interested parties? Or does it now mean a long term play?

[fireplace22] 22/6/2009 08:26

The bargain price doesn't seenm to have done much for SGRO currently down a bit.

[madasafishman] 22/6/2009 08:17

stopped out at the bottom for me
good luck guys but ive lost enough
pastures new for me

[warmsun] 22/6/2009 08:15

Is that said more in hope?

I dearly hope you are right.

[skyship] 22/6/2009 08:13

I want to buy again - but @ 44p the Market clearly anticipates competitive action - quite right too.

[2trikky] 22/6/2009 08:10

well L2 is nearly 4:1
so someone wants to buy at these prices
and don't let binladin frighten you ... he's a paid deramper

[binladin] 22/6/2009 08:09

back to 17p. or going bust.................

[warmsun] 22/6/2009 08:06

Well, if anyone else is interested in buying the company, they could, seemingly, get it on the cheap!

[madasafishman] 22/6/2009 08:06

my stops are set at 42p
looks like im out at the bottom
for max loss
igindex is in auction cant trade anyway

[2trikky] 22/6/2009 07:59

indeed ...doesn't smell right to me.

[zangdook] 22/6/2009 07:49

So the board has agreed an offer of less than 40p per share? Why would anyone accept? It's a p*ss-take.

I'm afraid the loss is too much for me to swallow. I shall have to sit tight and hope my too-small number of Segro shares appreciate.

[lord gnome] 22/6/2009 07:14

Ouch! Surely the board isn't going to recommend that paltry offer. Today will be nasty for all longs. Commiserations.

[fireplace22] 22/6/2009 07:10

Half price Brixton, 1.75 SGRO per BXTN.

[quepassa] 21/6/2009 14:03

The article in today's Sunday Telegraph looks very different to the report in yesterday's FT.

The head-lines in The Sunday Telegraph are below and the full article can be viewed on-line:-


"Brixton bondholders wage war in attempt to derail takeover.


Bondholders in Brixton will this week call for the heads of the property group's top executives and an independent valuation of its real estate portfolio in a move to derail the company's takeover talks with Segro, its arch-rival."

This is before we have heard from other interested parties.

All IMO. DYOR.

QP

[hamsterape] 21/6/2009 12:33

My only saving grace is I got 2/5 of my holding off at 66.75 and
repurchased most of it later that day at 63.25, so my average
price is slightly lower.

I'm annoyed with myself that I didn't repeat this trade a few times
on previous occasionswhen opportunities were clearly indicated
and all the RNSs were showing that the big players were doing the
opposite of what wold normally happen in a take-over.

[geoffrey] 21/6/2009 12:06

Bond holders are restive and want protection as a priority. So many possibilities loom ahead for next week so lets wait and see!! Not much point in guessing share price in short or long term until we know more.

[sommet2] 21/6/2009 10:59

hamster,
As you demonstrate the share price of SEGRO makes a big difference assuming of course the bid is all share - which I hope it is.I was originally thinking about 75p per share but clearly this was optimistic.I would be happy with 2.5 SEGRO per 1 BXTN because I belive the combined companies will appreciate in value significantly.So if the bid is worth 55p I can see 80p plus by the end of the year.The new company will also be very attractive to an outside bidder looking to get exposure to the UK commercial property market.In particular I remember the Norwegian Sovereign Fund saying about 2 months ago that it was interested in the UK.The new company should also be able to pay a good div as rental income will be impressive.My only regret is not selling out at 70p+ and buying back in again on Monday because it could be a bargain.I must stop holding out for another 10p and end up losing 20p - one of these days I will learn!

[madasafishman] 21/6/2009 10:29

ive got guarenteed stops on this trade in case it went bust
but didnt think the offer price would be less than 70p at worse
wish i had set them higher now as i think they will be hit
on opening and i will be seriously out of pocket

hamster we were suggesting a lower bid price last week shame
we didnt act on it and cut our losses then

[hamsterape] 20/6/2009 23:22

The offer that sources were recently suggesting was likely about a
week or two ago(not on here, mind) was a 5 for 2 share offer.

That would be 2.5 x 22p = 55p. Obviously if SGRO is perceived to be
getting a bargain and/or if the sector perks up a bit then the offer
will be worth more.

At 26p it's worth 65p at that ratio.