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|Real Estate Investment & Services
Rugby Estates Share Discussion Threads
Showing 76 to 100 of 100 messages
|I've sold my last few now. Not worth waiting a couple of years to get a bit more back in my opinion as the solvent liquidation of this group will take a while to sort out. Always the chance that it gets used as a cash shell, but thought I would just cash up.|
|Another £1.25 / share payout due on 18th August. Surprisingly low interest in this cash cow!|
|Thanks hoveite. Saved me trawling masses of RNS.|
|They aren't planning to liquidate - however they are planning on concentrating on their asset management business rather than the business of directly owning properties.
In their half yearly report they said they "expect the disposal of the directly-owned property portfolio to have been substantially completed by 31 December 2011." If they manage this then they will have more cash to return to return to shareholders this year. Whether they do return the cash or not will depend on whether they need it for their asset management business.
It has to be said that plan to grow their asset management business hasn't been going too well - they have been losing rather than gaining mandates.
Administrative expenses are too high for the size of business that remains at £1.577m for the last half year, but they say "the cost base of the Group remains under review".
All things considered, I've been buying at these levels in the hope that the asset sales and cash return continue - and that not too much of the assets gets eaten up in directors' salaries.|
"Sold far far too early"...... Where have I heard that before!
Is there a particular reason why RES has been handing cash back for so long?
Are they planning to liquidate altogether?|
Done. I am not holding at the moment, but they seem to have done a lot of NAV enhancing via the capital returns in order to get NAV over £6 and it might be worth a dip back in, having only made c.20% last time. Despite starting this thread at pretty much its nadir, I sold far far too early!|
|One of the major shareholders here is Laxey.
I'm attempting to track Laxey's other holdings for us PI's mutual benefit. If you know of any other's please let me know.
"Tracking the Arbutrageurs"
|scburbs, any chance of adding the company website in to the header please?
|If the NAV is now circa £6 why are the shares at £3.48?|
|OK, all happened now. On first glance it seems fairly unfavourable for shareholders in terms of value of holding before and value after the special dividend.|
I had thought this was ex the special dividend day per the announcement:-
Latest time and date for receipt of 11.00 a.m. on 18 January
Election Forms or TTE Instructions 2011
from CREST holders in relation to
Latest time and date for dealings 4.30 p.m. on 18 January
in Existing Ordinary Shares 2011
Existing Ordinary Shares disabled 5.00 p.m. on 18 January
in CREST and Existing Ordinary Share 2011
Share Split Record Date 5.00 p.m. on 18 January
Record Time (for determining entitlement 5.00 p.m. on 18 January
to the Capital Repayment on the B 2011
Shares and the Special Dividend on
the C Shares)
But I stil seem to have the same number of shares, the price hasn't changed and it isn't marked as being XD. Any close followers of this that can shed any light on it?|
|£1.15 / share to be returned on 31/1/11 subject to General Meeting being held on 13th Dec.|
|And a further 100p or so to be returned in the new year.
No-brainer this one
|and a further distribution 150-175 per share LOL are they winding the company down?
|Indeed, good value on a break-up basis.|
|Why no price movement after todays announcement? does this represent good value?
|Hopefully, most of the capital will be returned once properties are sold-off and then we will be left with shares in a much smaller asset manager. They need some more asset management mandates, but I should think that the quality of management should attract some.|
|Added a few more here. Looks like more upside than downside potential with over 400p NAV and Laxey chomping at the bit for break-up / capital return.|
|These guys at the top are pretty shrewd. I daresay any sale might have some strings around ongoing management/ valuation fees and any resulting cash will likely be used to return value to investors. All IMHO.
This is one of the steadiest, if not the dullest share in my portfolio, but I anticipate double digit growth for the next 3-5 years if they don't sell out before.
|If the CGLP investment vehicle is to be wound up later this year or at the beginning of next and the REIT trust is bought out what is the effect on on going earnings? RES is trying to reposition itself as a manager of property funds but these are two of its major income sources.|
|Yes-All reads well in yesterdays update|
|due for a re-rating based on triple nav of 400p.|
|Rugby Estates plans to return a further 45p per share cash to shareholders through a redemption payment or special dividend.
Earlier this year, following a strategic review of the business, Rugby returned 50p per share.
Last month it sold two industrial properties for a total of 5m as part of its decision to concentrate on asset management and return capital realised on the disposal of its property portfolio to shareholders.
A general meeting to approve the latest proposals will be held on January 12.|
Yes was unfortunate, it has happened to me a few times over the years.
|AO, Yes I agree, much better than holding "surplus" cash. Having moved some of my cash into higher risk property shares I just needed to replenish my cash reserves, looks like I was a day early given today's positive disposal news!|