||EPS - Basic
||Market Cap (m)
|Real Estate Investment & Services
Raven Russia Share Discussion Threads
Showing 1326 to 1348 of 1350 messages
|Huge volume today, not much move though, other russian stocks are motoring, time for raven to catch up a bit !|
|With current fx rates I see the nav at 64p which is where I think fair value is, medium term I dont think it will take much to see yields compress from 12-14 pct down to 10pct if this happens I think the nav will be up to 100 and the shares should follow ...Even in argentina where rates are in the mid 20's real yields are around 7pct, In russia rates are falling and the ccy and market has stabilized I see no reason why these index linked yields should not be much lower than the current 12-14 , also there can be a big boost from financing spreads falling, at the current 39p they are priced for armageddon still|
|Trump winning is awesome for raven, there will be a relaxation of the drumbeat of anti russia rhetoric from the neocons behind hillary now, putin and trump can enjoy some bromance and Raven trade closer to fair value ....|
|Is there any chance of putting a ruble exchange rate chart in the heading|
|The recent currency moves are all to ravens benefit , strong ruble with ruble assets and very weak pound and gbp debt/prefs and the shares are quoted in gbp, the nav per share will be getting marked up next financials we see for sure !|
|ok thanks, just checking
wouldn't trust barclays as far as i could throw them|
|yes, you can only tender your divi entitlement. Makes sense with the share price so near the tender price, as many large holders won't bother with the tender. So could lead to smaller holders getting rid of their whole holdings, which don't seem fair.|
|Barclays is saying the Excess tender offer has been withdrawn
is this correct ?|
|There is a lot of upside here on tonights debate, if the witch has a spazmodic fit and pukes out green globules on live tv then trump wins and russian stocks go to the moon ... If the witch performs well then its all priced in anyway ...|
|Looking like there is a small chance now that trump wins, if he does and we get a reset of relations with russia then rus will look excellent|
|I have these on my watch list to ADD more. Couldn't quite take the plunge today; the revenue drop and dividend cut put me off. Think we are close to the bottom though so will keep watching. Below 30p would do it!|
|Were the equity or 12% Pref holders offered any of the new 6.25% Conv Pref by way of rights ?|
|Interims look ok, the rot has stopped in the underlying macro situation , if only these monkeys could pay themselves a fair incentive fee we would be looking golden !|
|Been buying some more of these, Russia is stabilizing and now this company which owns assets yielding 12-14 percent can be bought at 40 pct discount to nav, quite levered but each asset is financed with non recourse debt so the group is very safe if a few assets dont perform, medium term there is great leverage on reducing finance costs.One thing i find crazy is in the 120 page annual report despite mentioning currency risk all over the place they fail to mention the usd rub rate they use in the balance sheet or change year on year, this is needed to predict the impact this year of the improving ruble strength.|
|They bought back 450,000 of the 12% pref yesterday, that's the one to buy.|
|Good volume today, this is starting to catch up with much improved sentiment on the russian economy, next stop 50p , etalon is another uk listed russian prop company listed in uk that is worth a look,I hold both ...|
|Think we will see this trading higher, there has been excellent newsflow recently from etalon the other uk listed russian real estate play, seems like prices are firming , interest rates falling and the panic abating, may take a while to feed through to raven but the situation on the ground is improving, if oil can stay at the 50 dollar level and the ruble hold its gains a grind up to 50p should be achieved by year end|
|Rather a "knocking" item from the Business Commentary column in The Times today on Raven's new options packages.
Black marks all round at Raven
Things must be tough in the Anton Bilton household. The executive deputy chairman of Raven Russia and his model wife, Lisa B, have been forced to cut the asking price of Tyringham Hall in Buckinghamshire. Or that, at least, is the shocking news from some media reports. Yes, £5.5 million off and now just £12.5 million.
So how lucky for Mr Bilton that Raven’s shareholders may soon be making up the shortfall. On June 15, at the Guernsey AGM, they will be asked to approve a new “retention scheme” for Mr Bilton and three other directors of the investor in Russian warehouses: chief executive Glyn Hirsch, Mark Sinclair and Colin Smith, all Guernsey residents.
And at least it’s a simple plan: each will get three lots of 150 per cent of basic salary just for sticking around until 2019. That’s right: three times £820,000 for Mr Bilton, based on his £547,000 salary, regardless of performance, just for not leaving. And all at a group now worth only £220 million after a 42 per cent share price dive in 12 months.
It gets worse. The first payment arrives the minute shareholders approve the new policy. And while Mr Bilton and Mr Hirsch must take the money “in listed securities of the company”, that could be higher-ranking preference shares not aligned with ordinary investors. Not that they’ll be short of cash: the policy also provides an annual cash bonus of up to 75 per cent of salary “wholly at the discretion of the remuneration committee”.
Who chairs it, you ask? Another Guernsey resident, Christopher Sherwell, 68, who does sound a bit of a pushover. The problem with the last bonus scheme only agreed in 2014, he explains, is that it didn’t pay out, what with Vladimir Putin invading Crimea and then a mix of sanctions and the plunging oil price doing over the rouble. And the company “requires, at the very least, valid motivational targets”. What’s more, directors have gone from Putinesque expansion to a “defensive strategy”, largely consisting of sitting back and collecting the rent. So the previous targets now look a bit awkward.
Yes, the management, together for a decade, has a fan club. Invesco, Schroders and Neil Woodford’s eponymous fund hold more than half the ordinary shares and have just backed a £105 million preference share issue. Yet there wouldn’t be a change of policy if events in Russia meant the directors were now coining it. The company says 60 per cent of investors have “confirmed their full support” for the policy. Given the bad precedent it sets, they must be Raven mad.|
|Woodford effectively financed this company since day one. Some of us have done rather well out of it ta.|
|If Woodford bought some then it`s time to get out.
WPCT is full of disasters and his other one is not exactly racing upwards.|
|Woodford bought them from the Raven Russia EBT. See RNS's.
Looks like the EBT sold them to get the cash to reinvest in the new Prefs.|
|Look at the volume yesterday. 72m sells, but no effect on price.|