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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Hotel Corp | HCP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 16.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 16.50 | 16.50 |
| Top Posts |
|---|
Posted at 05/2/2016 15:58 by hedgehog 100 From "THE INVESTORS CHRONICLE", 22 January 2016:"A CONTRARIAN'S CONUNDRUM David Stevenson ponders what to do with the resources exposure in his Sipp ... What has struck me about the market mayhem is that many defensive assets, such as infrastructure funds, have largely been unaffected - if anything some have actually increased slightly in price. This makes me think that we're in what I'd call a narrow market panic. This gives me some comfort as it suggests that we're not anywhere approaching a repeat of the global financial crisis in 2008 when everything sold off as one. ... Over the past year (from 6 January 2015) I'm down 2 per cent, which is hugely disappointing. ... The problem is to work out what the alternative to these losses might be. Increasing your exposure to bonds is the traditional answer, but these fixed-income securities have gone precisely nowhere over the past year and, with US interest rates almost certain to keep rising, I can't see any value in virtually any part of the fixed-income credit spectrum. Gold has also edged lower and let's not mention the wider commodities complex for fear of scaring the horses. Cash pays almost nothing. What's left? I suppose the answer is to work harder by researching specific opportunities, stick to your contrarian instincts and look for genuine alternatives, assuming you can find any. ... the outlook for 2016 ... I suppose the 'consensus' choice is to stick with the developed world markets with the best (or should we say least bad) economic fundamentals moving forward, namely the Eurozone and Japan. ... But I also think you need to buy local assets selectively. ... One early bet on this trend is the investment in the Schroder European Reit (SERE). ... I'm also tempted to take the plunge this year and invest in Taliesin Property Fund (TPF). ... " |
Posted at 04/2/2016 17:24 by hedgehog 100 Evil_doctor_facilier 3 Feb'16 - 17:16 - 1053 of 1054 5 0"You said 'The very generous open offer allowance was a courtesy for those investors who did wish to take advantage of such a good opportunity." Surely 'anyone' (rights holder or not) could just buy in the open market cheaper? So anyone who has not already lost 99% of their capital ,can buy in cheaper! Some generous and courteous gesture that is? ..." EDF, It wouldn't be possible to buy large amounts at under 1p, given the very small pre-new-money market capitalisation: which is well under half a million pounds at the current mid price of 0.825p. The spread is 0.75p - 0.9p, as it was yesterday too, when the last market buy occurred: Time/Date Price Volume Trade value Type 14:35:53 0.76 69,542 528.52 O 08:37:23 02-Feb-16 0.88 20,000 176.70 O I.e. 0.88p, nearly the full offer price, for under £200 of shares. Throw in dealing costs, and the effective price per share paid for 20,000 would probably be about 0.95p. The exchange market size here is 50,000, so that's the maximum that you can guarantee to buy for the market offer price, and even then not necessarily online. In addition, the new shares come with warrants attached: one for every three new shares subscribed for, and with a decent timeframe and exercise price: i.e. three years, and priced at the market price just prior to admission. All of this clearly makes subscription a much more attractive alternative for large buys. This was a facility there for shareholders who wished to take advantage of it: some will, some won't. But on average existing shareholders have increased their holdings by over a quarter in the first round of the open offer, and their upside equity exposure by over a third including the warrants, and there is still the second round to come. If there had been no open offer, and just the placing, you would probably be complaining about retail shareholders being shut out of a cushy deal for insiders, which is often the case on AIM. |
Posted at 03/2/2016 17:16 by evil_doctor_facilier You said'The very generous open offer allowance was a courtesy for those investors who did wish to take advantage of such a good opportunity." Surely 'anyone' (rights holder or not) could just buy in the open market cheaper? So anyone who has not already lost 99% of their capital ,can buy in cheaper! Some generous and courteous gesture that is? Hedgehog, Shore Capital was responsible for HCP from conception to demise. I am totality at a loss to understand how or why you seem to make Shore Capital blameless for the loss to shareholders here. For anyone not understanding the full picture here ,i have put together a list of events that clearly show Shore capital's role in HCP from the very start in forming HCP to therm farming out the management of the hotels to barcelo. The Hotel Corp PLC (“HCP”) was formed by Shore capital and Dawney shores Hotels (“DSH”) with an objective of being an investment company to invest directly into “DSH” acquisition of the Paramount chain of hotels (“Paramount “DSH” was also a vehicle established by Shore Capital and “DHS” with a stated objective of acquiring a substantial chain of four star British regional hotels. Shore Capital managed “DSH” in partnership with Dawnay, Day Hotels Limited ("DDHL") charging management fees for this service. The consideration for the acquisition of “ParamountR “HCP” was listed on AIM July 2004. Shore Capital and Corporate Limited acted as The Hotel Corporation plc's nominated adviser and broker. Shore Capital raised £22m through the placing of 22 million ordinary shares at £1 per “HCP” share “HCP” then subscribed £21.7 million towards the acquisition of “ParamountR “HCP” through Shore Capital raised an additional £13.25 million through the placing of 13.5 million ordinary shares at £1 per “HCP2” share in in December 2014. “HCP” also subscribed for further investment in “DSH” in December February 2005 respectively, bringing “HCP” investment in “DSH” to £33,670,000. As a result of these subscription, the Company held 49.9 per cent of the issued share capital of Shore Capital’s managed and part owned “DSH” investment vehicle. All of the “HCP” capital invested in “DHS ” was raised by Shore Capital. “DSH” announced in December 2006 that it was undertake a strategic review aimed at maximising shareholder value”. In August 2007 upon the completion of the strategic review, “DSH” entered into a lease and management agreement with regards Paramount Hotels, with with Barcelo Group ("Barcelo") “DHS” announced that it “planned to unlock value by increasing gearing and returning capital to investors” Howard Shore, Shore Capital's chairman and a DSH director, commented on the deal said: "We are delighted to have concluded this value enhancing transaction after a careful review of all the options. As a result, shareholders will be able to crystallise the benefits of their investment whilst continuing to benefit from significant real estate potential." July 2008, “DHS” informs “HCP” that the management of “DHS” has today terminated the engagement of "DDHL" under the Portfolio Management Agreement and had engaged Shore Capital Limited to provide the services Howard Shore of shore capital was appointed chairman of ”DHS” In September 2008 HCP announced a NAV of 239p per “HCP” share in it’s interim results along with the announcement that “DSH” had changed its name to Puma Hotels PLC. (“Puma”) May 2009, “Puma” announced that Anglo Irish bank had reduced “Puma” senior debt facility by £20 million from £350 milion to £330 million and senior debt at “Puma” stood at £347.2 million. June 2009 “HCP” raised £12.6 million disapplying share holders pre-emptive rights by placing 15. 2 million new “HCP” shares facilitated by Shore Capital stockbrokers Ltd, primarily to invest into Pumas £20 million equity raising to repay Anglo Irish bank. November 2011. The board of “Puma” including Mr Howard shore inform “HCP” that ("Barcelo") are proposing revised rental and other terms for the hotels. Moreover, that unless a revision to the leases is agreed between the parties, BCE is intending to withdraw financial support from its UK hotels business, Barcelo UK. April 2012 the directors of Puma Hotels informed “HCP” that “Puma” has signed a business transfer agreement providing for the early termination of leases with “Barcelo” JULY 13 "Puma" announces that it has successfully completed the extension of its GBP323 million senior debt facility with Irish Bank Resolution Corporation in Special Liquidation ("IBRC"). Following the debt purchase, “Puma” re branded itself as UK Group of Hotels plc Aug 2014 as joint administrators appointed of UK Group of Hotels plc (formerly Puma Hotels plc),The Company's investment in UK Group of Hotels plc was fully written down to GBPNil in the accounts of the Company as at 31 December 2013. |
Posted at 03/2/2016 15:48 by hedgehog 100 Nick,The £2M. placing funds are guaranteed, subject to enough shares being left after the open offer. Round one of the open offer has received 5.2% take up (£129,935), which means that a minimum of £2,129,925 has been raised so far. If the same is raised in round 2, then £2,259,870 gross will have been raised from the placing / open offer, over 90% of the maximum subscription. The open offer round one allowed shareholders to increase their holdings by six-fold, and few people will want to increase their holdings so markedly, however good the investment. Hence the structure of this fundraising, with the large placing element likely. The very generous open offer allowance was a courtesy for those investors who did wish to take advantage of such a good opportunity. 03/02/2016 09:00 UKREG Hotel Corp (The) PLC Result of Round 1 of the Open Offer "Further to the Company's announcement on 15 January 2016, HCP is pleased to announce the result of Round 1 of the Open Offer. The Company has received valid acceptances for 649,675 Open Offer Shares from Qualifying Shareholders, representing approximately 5.2 per cent. of the Open Offer Shares available. Accordingly, 11,805,090 of the Open Offer Shares will be available under the Excess Application Facility as Excess Shares under Round 2 of the Open Offer. Only Qualifying Shareholders who have taken up their Open Offer Entitlements in full under Round 1 of the Open Offer are entitled to participate in Round 2 of the Open Offer. Details of Round 2 of the Open Offer, including its terms and conditions are set out in the Circular (defined below). Qualifying non-CREST Shareholders who are entitled to participate in Round 2 of the Open Offer can apply for Excess Shares by using the Round 2 Application Form which is expected to be posted to such entitled persons later today. For Qualifying CREST Shareholders who are entitled to participate in Round 2 of the Open Offer, Excess CREST Open Offer Entitlements are expected to be credited to stock accounts in CREST at 8.00 a.m. on 4 February 2016. The timetable of expected events for the Proposals is set out below. Capitalised terms used but not defined in this announcement bear the meanings ascribed to them in the circular dated 15 January 2016 (the "Circular"). The Circular is available on the Company's website at www.thehotelcorporat |
Posted at 02/2/2016 17:52 by hedgehog 100 The mainstream care home sector has seen strong institutional investor interest recently, and HCP-SIP's more specialised focus looks to be ahead of the curve.With good scope to build a sizeable property portfolio in this area relatively cheaply, before institutions start bidding prices up. Moreover, unlike the shares bought by an investment trust, HCP-SIP's investments will not be buyable elsewhere. And to buy similar investments directly would be financially onerous for most retail investors, and without the liquidity of owning shares in a listed company. Shares are often temporarily weak at the time of a fundraising, as with HCP at 0.825p, but that can often present a good buying opportunity, as in this case. |
Posted at 01/2/2016 21:14 by hedgehog 100 HCP (currently 0.825p mid) looks to have attractive potential in both the short, medium, and longer terms:1. SHORT TERM. • Currently looks to be returning back up the the fundraising price of 1p, and a slight premium to post-fundraising cash of circa 0.9p per share. • Active positive February newsflow: 20:1 share price consolidation and name change to Specialist Investment Properties (both 8 February), and news re. completion of the fundraising. 2. SHORT/MEDIUM TERM. • Strong positive newsflow as the company executes its initial property investment programme during March - June. • Follow-up company development: larger fundraising(s), and further acquisitions. • Dividend policy: "The Company is targeting a dividend yield of seven per cent. per annum, and your Board expects to pay the first dividend in Q1 2017." 3. MEDIUM/LONGER TERM. • Growth in dividends. • Capital growth: " ... these properties can offer attractive returns on equity and the prospect of medium term capital growth as the chosen specific property category grows and becomes better appreciated by mainstream property investors." • Move to increased rating as the company grows, develops a track-record in its new sub-sector, and becomes more widely-appreciated by the market. |
Posted at 01/2/2016 20:42 by hedgehog 100 Compare HCP to another former shell, PPG (Plutus Powergen):PPG has been popular with retail investors, and quadrupled in a year. But PPG looks to have significantly bigger risks than HCP, while having just comparable upside. |
Posted at 01/2/2016 18:40 by hedgehog 100 EDF,There's a difference between advising on the technical aspects of a strategy that you are asked to execute, as opposed to determining that strategy itself. And in any case, hindsight is a wonderful thing, and many people did not see the credit crunch coming. But the new, defensive strategy suggests that insiders here have learnt that the previous strategy was too risky. I'm glad that that lesson has already been learnt, as it decreases the chances of a similar mistake being made in the future. With regard to the level of cash after the current fundraising (£2.3 - £2.8M. depending upon the level of subscription, but probably at or close to £2.8M.), this is just the start. From page 15 of the Circular (section 2.3): "2.3 Initial Programme The Property Investment Adviser has initially identified four properties for the Company to look to acquire. ... The Property Investment Adviser has additionally identified a pipeline of similar transactions which it will introduce to the Company for the Company to seek to execute within two to three months of the close of the Capital Raising. The Property Investment Adviser would then aim to identify further acquisitions which would be part financed through raising further equity in a larger fundraising or raisings." Shore Capital has raised hundreds of millions of pounds, so they're well-place to deliver the desired funds here. Especially with the resources and tech sectors being avoided by many investors at present due to global market concerns, and people seeking safer, domestic plays. The aim will doubtless be to 'get bigger fast', to reduce the percentage of fixed costs. And in the meantime, Puma is waiving some of its fees for 2016 (see section 2.10 of the Circular), and there will be strong positive newsflow. Similar costs concerns were raised with respect to FFWD, but that has addressed them by 'getting bigger fast' over the last few months, and its share price performance has been strong. Indeed FFWD's placing last week was at a premium to the market price, as is HCP's current fundraising (including from the time it was announced), which is comparatively rare for AIM. There's an ideal size from which a company like this can become a multi-bagger: too small, and fixed costs become too burdensome; whereas too big, and there can be insufficient quality opportunities in a chosen niche. £10 - £15M. is probably the ideal early-stage starting point, and with more fundraising HCP-SIP looks well-placed to approach or even reach that very quickly. |
Posted at 18/9/2015 08:48 by mister md same here. I had flashbacks of SouthernCross (SCHE) when I read about the planned investment, what a terrible outcome for shareholders on that one.Perhaps the main reason for not enough votes was that most investors here have written it off, lost interest or both. Directors don't own any shares so it wasn't their holdings that determined the outcome... I only have a small holding left in this one, so will probably hold on incase something happens rather than sell and invest elsewhere... |
Posted at 17/9/2015 09:42 by nick rubens evil doc, I agree, I wouldn't participate in any fund raising with the current scenario. I don't think it's over yet and that it just needs a little more work from the Investors who called the EGM.Just over half of the shareholders seemingly voted? |
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