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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Tamar Euro | TEIF | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 37.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 37.00 |
| Top Posts |
|---|
Posted at 29/5/2014 16:42 by kenny Thanks tilt's. We shareholders certainly need something to happen because the company makes little effort to keep investors informed. Also, the promised capital distribution, has been promised for so long without actually appearing that we will all be long dead and gone before it occurs!! |
Posted at 05/4/2014 16:49 by kenny Praipus - It looks like Weiss anticipated or were told that there would be no return of capital and that is why they sold 5m shares in TEIF well ahead of us private investors being told. Poor show from management.It is unclear if Weiss will be dumping any more or whether they have been trickling some more shares out since last November. |
Posted at 27/3/2014 08:30 by holts Inclined to agree , don't think we are going to see a payout unless forced by larger active investors. |
Posted at 27/11/2013 19:31 by remi2059 Hi all, just came across this company.Looks interesting, with a good discount to NAV and upside from asset sales. But 2 things bother me: 1) Why are Weiss / Brookdale selling? they are not stupid investors, they are specialists in closed end fund arbitrage... 2) In the interims, they quote two adjusted NAV figures: a) adjusted net asset value before deferred tax liabilities of 61.6p b) Adjusted net asset value after deferred tax liabilities and contingent deferred tax of 47.1p Does anyone know why the headline numbers all concentrate on (a) rather than (b)? Is there a good reason to disregard the deferred tax liabilities? Any thoughts? |
Posted at 13/4/2013 08:57 by langbarb Hi scburbs, thank you so much for your insightful posts, they help me lesser knowledgeable investor to better understand the investment opportunities available. I have gone though the finals and would have a few questions for you, as I am trying to become more proficient in reading financial statements.I agree with you re. the error in the operating cashflow. Afterall the "Unrealised loss on revaluation of investment properties" are added back in the op. cash flow calculation, and so should the realised losses. The questions now: 1) How do you calculate the WC movement you mention above? 2) Under portfolio overview they anticipated operating income for 2013 of £13.154mio, this looks very optimistic, would you know how they could come to this estimate? 3) I noticed form the income statement that the expenses over rental income ratio increased to 72.5% from 66.3%. This tells me that they have disposed of the assets with better income yield, and going forward operating performance could worsen. Is this a concern for you? 4) A rule of thumb I use to decide how sustainable a dividend is, is the following: operating income - operating expenses - cost of financing and see if this covers the dividend. In other words I ignore revaluation gains/losses and any other extraordinary item. Is that a sensible approach? What do you do to gain comfort on dividend sustainability? thanks |
Posted at 20/3/2013 10:01 by langbarb can someone clarify the "Unrecognised deferred tax liabilities" which hits the NAV by 14p? Note 10 (b) says "At 31 December 2012, deferred tax liabilities of £19,623,000 (2011: £31,682,000) on temporary differences at the time of initial recognition arising from investment property transactions treated as asset acquisitions have not been recognised in accordance with IAS 12."Does this mean that sooner or later they will have to be paid and that the actual NAV is 46p? I.e. IF no changes in valuation ever occur from now till liquidation, the investors will be distributed 46p (again for simplicity assuming no fees or associated costs)? |
Posted at 09/1/2013 21:49 by scburbs Difficult to get excited about a few million of disposals at marginally above book as book value has been falling fast.TEIF look good value given the lowish gearing, but progress has significantly slowed. It is high time for them to start returning cash to shareholders with my preference for the first return of cash being share buyback/tender offers (assuming the share price remains depressed). Perhaps Patrizia will find some investors who want to acquire TEIF as Patrizia will want to retain the management mandate. |
Posted at 30/6/2011 11:26 by scburbs Swedish market continues to look strong (12% of TEIF's assets). TEIF should get the 13% vacancy sorted out first, up the average lease length and then they should be able to achieve significant premium to book."May 26, 2011 12:17 PM EDT Positive outlook for investment property market in Sweden A positive economic outlook and a continued market growth make Sweden's property investment market attractive for investors at home and abroad in 2011 according to international real estate advisor Savills. The firm reports that by the end of the first quarter of 2011 total turnover reached SEK19.5 billion (2.18 billion), up from SEK 8.5 billion (2.07 billion) in the same period of 2010. This quarterly upward trend began last year as investment volumes increased each quarter in 2010 compared with the same quarter in 2009 according to Savills. In addition the volume of retail assets sold in the first quarter of 2011 has already reached half the 2010 year total, at SEK4.3 billion (480 million). Overall Sweden's Gross Domestic Product has grown every quarter since the beginning of 2010, a trend which continues into 2011 with a positive GDP growth of 5.5% expected by forecasters. ... 'Prime yields hardened within all property segments throughout 2010 and we have started to see slight closing signs of the yield gap between prime and secondary properties, driven primarily by the strengthening office leasing market, relatively low vacancy levels, the limited development pipelines and the lack of product on the market. We expect to see yields remain stable in most segments in 2011 and forecast that retail yields could strengthen further,' he added." |
Posted at 06/6/2011 16:53 by praipus Been raining and is currently overcast here....no hurry Skyship. Shouldn't you weight until the end of the bird breeding season (thats my excuse for getting out of doing it anyway) ?Box or Yew hedges? AlanJI I think institutional investors can delay reporting buys and sell for all sorts of reasons in theory "protecting" the market though it amuses me how often us humble PI's are the last to know. |
Posted at 02/6/2011 14:13 by scburbs Afternoon Skyship,I think there is a clear read across of the MERE announcement to TEIF. If the market doesn't value the company properly then something needs to be done to realise the underlying value and the company can't justify just staggering along particularly with its expensive debt limiting the income profits. It will be very difficult for companies like IERE and TEIF to try and maintain the status quo when you can see the impact on MERE of today's announcement. TEIF is more likely to follow suit given the size of Laxey's holding, although a takeover would be another option. Odd that IERE has so far ignored the new reality for undervalued pan-European property companies. This is what all the activist investors are doing on the share register after all! |
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