Matrix European Real Estate Share Discussion Threads

[geng] 05/8/2011 08:22

If Sell off approved today then at this price you can buy a £10 note for just a little over a fiver!

Hardly been touched by the recent carnage.

Cheap as Chips!

[praipus] 04/8/2011 22:16

Good attitude that man.

[badtime] 04/8/2011 20:17

Hmm..might add som at ths price

[johnv] 29/7/2011 13:32

From 7th July



"Dividend

The Board proposes to pay a six-month interim dividend for the period to 30 June 2011 of 5 pence per share to reflect current cash generated by the portfolio and this interim dividend payment will be made 25 August 2011, resulting in an ex-dividend date of 27 July 2011 and an associated record date of 29 July 2011."

We must have. Not much of a drop

[n1mgn] 29/7/2011 13:28

have we gone ex d chaps??

thxs

[sand dollar] 13/7/2011 15:51

Treating the proceeds as capital gain/loss makes good sense especially as some big original investors are sitting on some substantial losses. It will be interesting to see what price they get for their first sale, if this is close to it's NAV we could see people jumping on board, and the share price increasing. You will still have the option of selling your shares or waiting for further property sales. Not a bad position to be in.

[skyship] 13/7/2011 10:00

Ahh - Rebecca at the Company is trying to get the Circular onto the website as I type. Apparently the person who usually does that wasn't available to do so. She hopes to have it there within the next 30mins!

[kimboy2] 13/7/2011 09:55

The NAV is 267p at 30/6/11. They are proposing to effect compulsory redemption of shares rather than just dish out cash.

It seems the main purpose of this is to get the distribution taxed as capital rather than income.

I would suspect that the next dividend will be the last on this basis as well. The rental payments will obviously keep accumulating in the company and will be added to disposals cash.

[skyship] 13/7/2011 09:49

Thnx Alan - link didn't work for me, but this one does:



EDIT - Sorry, no it doesn't. See below...

[alanji] 13/7/2011 09:30

Circular now available - I have not gone through it yet:

[praipus] 12/7/2011 19:05

Most shares with European in the title went down today except MERE:)

[skyship] 12/7/2011 16:11

Notice of the EGM & Circular. Regrettably, contrary to what they say, it is not yet on the website!

[skyship] 07/7/2011 07:49

I suspect today's RNS (Valn. & Divi) is hardly here nor there in terms of our final expectations:

[investor_tp] 30/6/2011 10:04

MATHISVALE: I've been wondering about the tax situation too, but as I understand it proceeds will not necessarily be returned as dividend, but can also be returned as 'return of capital'. Someone correct me if I'm wrong please.

My thinking was this: let's say I bought shares for 170p.

Now, let's say that they pay a dividend of 15p this tax year, next tax year, and the tax year after that (numbers completely made up of course). Let's also say they return 50p of capital this year, and 100p next year, and 100p the year after.

As I understand it, I would then have to pay tax on 15p worth of dividends this tax year, and no capital gains, with the capital basis reducing to 170p-50p=120p. Then next tax year I'd have to pay tax on 15p worth of dividends, and again no capital gains, with the capital basis reducing to 120p-100p=20p. Then in the tax year after that, I'd have to pay tax on 15p worth of dividends again and capital gains tax on 80p (100p-20p) per share.

Is this right?

[mathisvale] 30/6/2011 08:45

The tax position on the proposed asset realisation looks very interesting, and if I have got this wrong would somebody please correct me.

Suppose I buy £1000 worth of MERE shares today. Now after all the MERE assets are sold I will have received back about c £1500 in dividends and have shares worth £0. The tax on the divis is 10%, paid for by MERE and I have a tax loss of £1000 on the shares and £1500 in cash. That looks far too good to be true. Somebody tell me that I am dreaming.

[praipus] 29/6/2011 16:30

They can have them for £2.99 each.

[johnv] 29/6/2011 14:35

Barclays max buy 5k@178 but to sell max 25k@170. Looks like they want your shares.

[johnv] 29/6/2011 14:29

We could have a flood of buyers soon from mnr punters selling out.

[kimboy2] 29/6/2011 14:18

Perhaps it is based on exchange rate movements.

I think it is a bit odd that they seem to have gone very quiet on the whole issue. I wonder if they have been approached by someone for the whole company.

[investor_tp] 29/6/2011 14:08

It seems to be an estimate, presumably based on last NAV + development of some benchmark index since then?

[praipus] 29/6/2011 13:46

Morningstar updated in December last year say the same...

[zangdook] 29/6/2011 13:37

I wonder where they got that from. The company hasn't announced it (has it?).

[johnv] 29/6/2011 10:29

According to the iii thread, the MD has always err on the side of caution with valuation and the NAV could be 300p.