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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Regional Reit Limited | LSE:RGL | London | Ordinary Share | GG00BYV2ZQ34 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.35 | 1.73% | 20.60 | 20.50 | 20.60 | 21.50 | 19.64 | 19.64 | 1,650,942 | 11:12:40 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Real Estate Investment Trust | 93.32M | -65.16M | -0.1263 | -1.63 | 106.5M |
Date | Subject | Author | Discuss |
---|---|---|---|
28/3/2024 08:53 | We all know that something has to be done, it is just a question of what gets done in what combination. | rcturner2 | |
28/3/2024 08:47 | Reached a decent point to apply some shorts. Story breaks about fundraising a price x, price falls to x, it doesn't happen the very next day therefore it can't be happening at all so price recovers. Corporate event ultimately happens per prognosis at some later date. Meanwhile we have some comprehensive financial data that informs the view that something needs to be done. | hpcg | |
26/3/2024 22:17 | So Shell Retail Ltd office at Coventry expired in FY23 at a rent of 1.4 they've renewed for two years at 0.9m. If this is replicated across every renewal doesn't bode well. I appreciate things wont play out as bleak but NRI is going to remain under pressure and thats if they can hold the void rate steady which seems unlikely. | nickrl | |
26/3/2024 12:42 | Add in capex (both what's been spent and what should have been spent - the later harder to quantity) And it's not cashflow covered Fine if there's debt capacity :) | williamcooper104 | |
26/3/2024 10:16 | "Significant preparatory work has been undertaken to date in respect of both the debt and equity refinancing options". And more extensively from the annual report "As previously mentioned,the maturity of the £50m 4.5% Retail Eligible Bond in August 2024, has been a particular focus of the Board. The most appropriate refinancing option is still subject to commercial and practical considerations, though significant preparatory work has been undertaken to date in respect of both the debt and equity options, which remain under active consideration." Section 29.7 In the annual report "Liquidity Risk" they have £94m of outgoings to fund in 2024: the retail bond, £20mn of bank debt to repay and £31m to trade creditors, with £8mn on the positive side for interest rate derivatives and in a table above £9mn of receivables. The net bank repayments made in 2023 account for the reduction in cash over the period. £6mn of the payables was for the dividend announced but not paid. | hpcg | |
26/3/2024 09:38 | @Feddie rent roll is down another 4m at year end vacancies are up so ongoing expenses up over 3m on previous year the only positive is the inv mgt fee is down a fair whack which helps them just keep divi covered going forward. However, net cash is down 15m to 35m and how much of that could be set a side for the bond im not sure but probably no more than 20m. So im surmising its Plan A a race to complete property sales or Plan B raise some additional cash. Why they just didn't cull the dividend for 2-4qtrs is beyond me and surely a city scribbler will ask that. | nickrl | |
26/3/2024 09:09 | All in million 1. Revenue: 91.9 2. Property costs: (38.2) 3. Administration: (10.6) 4. Finance costs: (16.2) FFO (1-(2+3+4)): 26.9 Forward looking dividends: 24.8 Dividends are covered. If cut, they would go a long way to reducing debt. | feddie | |
26/3/2024 08:40 | Yes - let's pay a divi > than op cashflow And then do a rights issue That's the way to do it :) | williamcooper104 | |
26/3/2024 08:01 | it was mentioned before, but its still true now: there's a lot of weak minded people on this thread. | arbus5000 | |
26/3/2024 07:54 | Operating cash flow 22m. Dividends paid 32m. How long can that continue | dartboard1 | |
26/3/2024 07:45 | Because you're wrong ? Ever crossed your mind ? | feuille | |
26/3/2024 07:42 | How can there not be a RI accompanying these results - must be having trouble getting it away. | spectoacc | |
26/3/2024 07:32 | Some weeks ago I posted that there was probably value in RGL but they would effectively need to go into wind down in order to pay off all the borrowing on time. That calculation was based on £150m disposals in 2024, so good so far. Unfortunately for shareholders it would also mean £150m in 2025 and again in 2026. I still don't see an investment case for the shares (at anything much above 10pps considering the risks v rewards outcome), but the bonds are looking a bit more secure. | grahamg8 | |
26/3/2024 07:15 | The current disposal programme comprises of 58 assets totalling c £130m: · one disposal contracted for £405,000; · 10 disposals totalling c. £22 million under offer and in legal due diligence; · 9 further disposals totalling c. £20 million are in negotiation; · 24 further disposals totalling c. £42 million are on the market; and · 14 potential disposals totalling c. £46 million are being prepared for the market | rcturner2 | |
19/3/2024 09:40 | Yep Spectoacc, ink on RI document dried a long time ago, only bit blank is the price and that is finding the sweat spot for underwriting fee /resemblance of reputation 10p still my thinking and will probably take that on my bonds if shareholders dont take full allocations | hindsight | |
19/3/2024 07:32 | I'm not sure Specto. The bounce to 17.5p seems too high to me. On the other hand the pricing of the retail bond suggest the RI is going to be successful too. I begin to wonder if the bounce is short closing combined with some bottom pickers who maybe think there is room for a bid at 25p. | cc2014 | |
19/3/2024 06:56 | The bounce implies the RI is nearly ready IMO - major shareholders all over the wall. | spectoacc | |
18/3/2024 19:40 | "significant preparatory work has been undertaken to date in respect of both the debt and equity options, which remain under active consideration." Perhaps a convertible then lol, so the lender can convert n dump the shares at a later date to cover risk - maybe not a bad deal if at the CRE nadir Anyway, a technical base is forming.. it'll cross the exit line soon | ih_431051 | |
18/3/2024 18:19 | Maybe there isn't a RI | tiltonboy | |
18/3/2024 18:05 | Price seems to have bounced back somewhat? I don't really get it due to the rights issue | tradez4dayz | |
14/3/2024 20:22 | Retail bonds rank higher than equity. If they don't repay them, they will be in default and this default may even cause a default on their bank debt. Can't see retail bond holders exchanging current bonds for new bonds at higher rates as they will be trade below par almost immediately. Sales will help, but half that money has to go to repay bank debt and timing is difficult to predict. A large equity raise is the best option but will dilute everyone if it's not an open offer. There are a large number of PE funds which would have a go here at the right price. | lpavlou | |
14/3/2024 10:49 | I think all the assets, or almost all, are encumbered | williamcooper104 |
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