||PART PREF SHS NPV
||EPS - Basic
||Market Cap (m)
|Real Estate Investment & Services
Real-Time news about Matrix Eur (London Stock Exchange): 0 recent articles
|nigelwestm: I see they've finally completed the sale of the Celle property in Germany at a small premium to what it was valued at on 31 December: 9.8 million as opposed to 9.4 million.
If they carry on doing this then the share price should start to converge with NAV per share and we'll go above £2.|
|nigelwestm: Yep... share price fell but given that we know they plan to continue to sell assets at a premium to NAV and are buying back shares for a price that is well in excess of the current share price buying more of these is a no brainer. Every time that they return cash to me I use it to buy more MERE shares.|
|kramch: zangdook, I meant the cash value at the 160p (which I think was based on the share price), vs the market value at 250p.
K2, I agree, a 10% commission over 225p would an incentive which would deliver value. But why not offer this to the Matrix team? I cannot see what he's bringing to the liquidation process that's so special, his CV shows him to be a fund investment manager not a property dealer.
|zangdook: Please let us know if you get a reply, kramch.
One point - "160p \share NAV" - 160p is not NAV. It seems to be an approximation of the share price. If it's not I don't know how they worked it out. Either way it's an inappropriate level. I could understand employing someone who might be able to get us better than NAV - but he should be paid a share of that excess.|
|sand dollar: 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.|
Thanks to Skyship et al who have provided excellent coverage of property stocks these last few years. Bought a whole tranche under 90p and kept buying under a pound. Just goes to show that sometimes a share price is NOT too good to be true. I was guided by the massive discount to NAV.
Will eventually have to find a home for these ISA funds which I originaly switched from Invista European & AXA property. Where do I switch back to retain european exposure and high divi? Have had a small punt on Invesco European @2p but need to replace matrix dividend. What are you guys switching to?|
|nigelwestm: Ok. Just dug it out. NAV was 279p as of 31st December. So it's not quite a 100% premium to the current share price, which is a little disappointing.
EDIT: Geng. 250p only represents upside of around 52% on the current share price of 164.5p. That's hardly worth bothering with for most of the punters on ADVFN who are looking for three, five and 10 baggers.|
|nigelwestm: Well, seems that someone is accumulating. 150,000 shares traded is unusually high volume for MERE. Whoever it is is being clever, though, and being patient. Enough people are selling into this rise to make sure the share price doesn't get out of control, so topping up with the odd 50,000 shares per day means the buyer is getting a good price.|
|tim00: I haven't looked for the precise wording, but in what part of the capitalist world can a buyer dictate the price to an undistressed seller? I very much doubt MERE can buy the shares at any (market) price! (The MERE share price is not fixed - it moves from day to day!) Would you sell shares you hold on that basis?! I don't think so!|
|pedwar18: Debt is the reason we are trading at these values. I hope the MERE share price will enjoy the same 20% boost that MNR has seen this morning on their successful refinancing. I don't doubt that MERE will get refinancing, the question in my mind is how cheap they get it.|
Matrix European Real Estate share price data is direct from the London Stock Exchange