Wt Wner Usd Discussion Threads

[p@] 24/1/2013 13:09

looks like someone is buying these,buys showing as sells.

[hybrasil] 31/12/2012 11:38

One of the best lessons there is in destroying shareholder value. How the bankers have allowed the directors to stay is beyond me

[markt] 31/12/2012 11:22

BTW
What's the short summary of the Warner story ?

whacko chart !!
up to 900p then crash and 1.7p now
wow, 900p to 1.7p !

[dazzaa] 27/9/2012 21:43

ok

new month

new news

any takers?

[knigel] 23/4/2012 07:41

O dear.... new RNS out today which really doesn't actually say anything! lol! Except any shareholders left probably should get out now...

[knigel] 16/3/2012 23:55

Should be an update soon...

[zastas] 08/2/2012 18:08

Maybe just shorters, trying to close before the shares are suspended. Then you are waiting for ages before your profit on the short is credited to your account.

[cudman] 08/2/2012 16:13

Why on earth is anyone buying these???
It is actually almost exactly a year to the day since these spiked to 25p.

[hectorp] 04/1/2012 15:09

Some value in it at 2p?

[oakville] 30/12/2011 08:07

At last !!

[zastas] 02/12/2011 20:50

Results just out. Negative 20 to 40 pence per share now. RIP. Will be put out of its misery, but not quite yet. Banks' warrants under water too.

[zastas] 02/12/2011 20:49

Results just out. Negative 20 to 40 pence per share now. RIP. Will be put out of its misery, but not quite yet. Banks' warrants under water too.

[cudman] 09/8/2011 15:36

Terrible shame I was on holiday in February and didn't see the spike to 25p, would have finally been rid of this.

[zastas] 29/7/2011 18:44

Well, I get little pleasure out of seeing my Nov 2010 predictions come wholly true, apart from my intuition and analysing being right for once.

I said it was entirely run for the banks, who were also given equity rights at 5 pence, and no way should it be worth more. We're there.

WNER equity: RIP. A victim of executive hubris and reckless layer-upon-layer leveraging. As a consolation, at least the Warners will have lost virtually all too.

[harrybigdick] 29/7/2011 18:00

Its just been verified...it is SHAGGED!
Hope i have helped the normal ones and the thick ones
Sanks


Warner future hangs on debt talks
29 July 2011

Warner Estate warned shareholders today that it is in crunch talks with lenders to refinance £250m of debt which matures next year, but that even if these talks were successful it would provide little value for shareholders.


The listed property company and fund manager said that its debt maturity had been extended from April of next year to December, but that even if a successful long-term restructuring were achieved, it would bring little benefit to shareholders.

"Discussions with the lenders remain ongoing and there can be no certainty as to the terms of any agreement, whether any agreement will be reached or the viability of any equity raise or other potential solution," Warner said. "The board believes that in the absence of a very significant rise in the value of the group's properties in the near term, it is likely that any solution would deliver very little, if any value to existing shareholders, other than the opportunity to participate in an equity raise were that solution to be pursued."

Warner chairman Philip Warner added: "The group has performed well at an operational level but it is the outcome of discussions with our lenders that will determine our future."

The details of the talks were revealed in Warner's results for the year to 31 March. The company saw its nebt liability per share rise from 7p to 20p, because its wholly owned property portfolio is worth £211m against debt of £250m.

[harrybigdick] 15/7/2011 00:13

Yeah...i think its shagged!..or its in the process of getting shagged..this probably can be clarified by the company, i think.

Sanks

[dovegang] 30/6/2011 14:05

It's all gone very quiet here, has anyone got any recent news on the finacial position etc?

[squire007] 06/4/2011 01:40

RTO maybe ...?

[purplebox] 18/3/2011 20:25

I don't think this is going to rally until the Agora debt is refinanced, as it's a couple of weeks past the 7th March maturity deadline.

My guess is that there will be deal but it's turned into a game of hardball with the banks.

[squire007] 16/3/2011 23:01

Next spike up coming soon. retrace bizarre !

[purplebox] 28/2/2011 08:52

Still no news on the Agora facility - less than a week now until its due...

[purplebox] 16/2/2011 07:24

RNS - Interim Management Statement



Not the best - no solution as yet to 7th March maturity on the Agora debt.

[purplebox] 11/2/2011 18:11

scburbs - 11 Feb'11 - 17:40 - 271 of 272

Purplebox,

They need some form of deal or bid. It is difficult to see a sharp rise being on merit as all the value relies on a deal or a sharp rise in property values (which are flat).

Commercial property prices aren't 'flat' - they are still rising.

But Warner is slowly working though it's issues and re-financing as required.

Remember that WNER's property management operation is doing well and it's in nobodies interest for the company to fail. If the banks wanted out they would not have allowed the refinancing that was agreed last year.

A bid is possible - but if it comes it's going to have to address all the issues so perhaps it will be more of a 'deal' than a 'bid'.

IMO the current rise in the share price is in anticipation of future events.

[mack010101] 11/2/2011 17:40

found this in Property Week

Warner breaches loan as maturities line up
11 February 2011 | By Mike Phillips

PrintEmail Share Comment Save Loan on two City of London properties breached with second loan due in March

Warner Estate has breached debt covenants on a £72m London office joint venture with Barclays Capital, and also faces an imminent debt maturity on a shopping centre joint venture.

A loan-to-value covenant was breached on the Greater London Offices Fund last week. The fund owns two London properties totalling 155,700 sq ft, one of which is 55 Old Broad Street in the City.

A £72m loan was granted to the joint venture by Barclays, and then securitised. The loan, which matures in October, has been transferred to the special servicing department of Barclays Capital – the "workout" process for securitised loans in default.

A spokesman for Warner told Property Week: "The debt facility of the Greater London Offices vehicle, a joint venture owned in equal share by Barclays Capital and Warner Estate, has been transferred this week to special servicing within Barclays Capital Mortgage Servicing Limited."

"The special-purpose vehicle, which comprises two City of London mixed-use properties, has a swapped-debt facility from [securitisation vehicle] Indus (Eclipse 2007-1), which is due
for renewal in September 2011."

"Ahead of this date the borrower is continuing to work closely with the special servicer to explore options to enhance the prospects of a maximum recovery for all stakeholders."

The spokesman also said the two City of London assets are fully let, and Warner has completed a series of initiatives including the removal of the old city walkway and the introduction
of a new statement entrance portal.

"At a time when market improvement is anticipated, Warner Estate's focused asset-management approach will be more important than ever to stabilise income and enhance values," he added.

A separate Warner joint venture with HBOS – now part of Lloyds Banking Group – also has a debt facility provided by Barclays that is part of the Greater London Offices Fund securitisation vehicle.

The Agora Max fund owns the Grange and Pyramids shopping centres in Birkenhead, which were valued at a total of £88m last year.

A £63m loan secured against the assets matures on 7 March this year. Warner declined to comment on its strategy for repaying the loan.

It is also in talks with Lloyds on a workout strategy for a separate shopping centre joint venture with Lloyds, called the Agora Shopping Centre Fund.

[scburbs] 11/2/2011 17:40

Purplebox,

They need some form of deal or bid. It is difficult to see a sharp rise being on merit as all the value relies on a deal or a sharp rise in property values (which are flat).

"As reported in June, although the exit fees payable when these facilities expire [April and December 2012] would not be covered on current cash flow projections without a considerable rise in property values, the Board continues to address this issue in order to ensure a solution is found prior to the maturity of the facilities."