Abrdn European Logistics... Share Discussion Threads

[cwa1] 04/10/2021 10:26

Thanks. This seems a bit of a mess where most people got it sorted out quickly right from the start and a few, me included, have been forgotten/overlooked/whatever and we're having to pull teeth at II to get it sorted :-(

[elvor] 04/10/2021 10:03

I'm with II got the 25% cash back on 29th September.

[jjcarrera] 03/10/2021 17:00

I have been scaled back as well, numbers now show correct tin II, and not got ££ back yet - J

[cwa1] 03/10/2021 14:28

Pleased to say the shares are now in the account at II. Was scaled back to 75% as others have been. Better late than never.

However, the open offer refund cash due has NOT been credited to the account yet. If I may ask, have others at II had the scaled back cash element refunded to them yet?

Cheers

[jjcarrera] 01/10/2021 17:30

were you scaled back 25% as per others ???

[cwa1] 01/10/2021 15:16

Sounds like some clients with II are OK but a few have had it screwed up. Hopefully it won't take TOO long to sort it out...

[peckers56] 01/10/2021 14:45

Shares in my ISA tradeable

[jjcarrera] 01/10/2021 10:22

Hi, Im with II - no amend and no info as of 10.21 today - shambles... J

[cwa1] 01/10/2021 08:44

First reply is basically not very helpful and not answering the question, explaining that I'll get all my entitlement shares. Yes, I explained, I expected that, but what about the excess application? Waiting to hear back about that...

As a matter of interest to those with II, have either or both of the rights and excess shares been moved to being tradeable for you yet?

Thanks

[cwa1] 30/9/2021 18:51

Thanks. That's a bit disconcerting. I've sent them a secure message and will see what comes of it

[alan pt] 30/9/2021 11:52

With AJ Bell, I can see they cancelled the original order and replaced it with one for 75% of the value, haven't actually got the holding showing in the portfolio yet

[cwa1] 30/9/2021 11:35

Mine are in a trading account rather than an ISA and wonder if they might be doing ISAs first?

[cwa1] 30/9/2021 11:34

Thanks. Interesting. NO email and no holdings in the account with II...yet

[peckers56] 30/9/2021 11:29

CWA1 ' With II. Got a "new corporate action" email at 9:14 this morning. 25% cash returned. Holding appears in account, but cannot buy/sell until tomorrow.

[cwa1] 30/9/2021 11:07

Interims(my bold)...



Highlights...

Focus on high quality and structurally supported Continental Europe mid box and urban warehouse assets delivers another period of strong NAV and earnings growth



Aberdeen Standard European Logistics Income PLC, the Continental European investor in modern warehouses, which is managed by abrdn, today announces its interim results for the six months to 30 June 2021.



Continued NAV and earnings growth:

- Net asset value per ordinary share increased by 3.3% to €1.24 (31 December 2020: €1.20)

- Share price total return of 12.0%

- NAV total return (in Euro terms) of 5.2% for the period and 14.7% for the 12 months to 30 June 2021, primarily driven by ongoing favourable yield movement

- Loan to Value of 31.7% (all in cost of debt 1.36%, average term to maturity 5.5 years)

- Declared dividends of 2.82 Euro cents (equivalent to 2.42 pence) per share in respect of the period, in line with the target for the financial year

- Reflecting the Company's growth ambitions, a £19.4 million oversubscribed equity issuance completed in March 2021, and as announced on 29 September 2021, a post-period end oversubscribed £125 million equity issuance, with strong pipeline of acquisitions identified



Acquisitions and focus on asset and counterparty quality take gross assets to over €500 million:

- Strong rent collection with 99% of rent due for the period collected

- Portfolio valued at €492 million, reflecting yield compression and new acquisitions; on a like for like basis, the portfolio value increased by 3.4% over 31 December 2020

- Two acquisitions, totalling €46.8 million, taking the total portfolio to 16 modern properties, diversified by geography and tenant:

· A 34,000 sqm warehouse in Lodz, Poland, for €28 million, reflecting a net initial yield of 5.5%

· Post-period end, the €18.8 million acquisition of a modern urban logistics warehouse in Barcelona, Spain, reflecting a net reversionary yield of 4.7%

- Weighted average unexpired lease term ("WAULT") of 7.4 years



Further progress delivering on ambitious sustainability targets:

- Long-term solar panel leases at the Company's Ede and Den Hoorn assets have delivered a capital uplift of approximately €1 million

- Four out of a maximum of five Green Stars with a GRESB score of 79/100, which compares favourably with the 68/100 average score for the Western Europe Industrial Distribution Warehouse peer group





Tony Roper, Chairman, Aberdeen Standard European Income Logistics, commented:

"To date we have built a diversified portfolio of 16 modern, high quality logistics warehouses with long term, inflation linked income characteristics. Our ambition is to increase the size of Company, while replicating the outperformance delivered by the Manager to date. With the support of both the new and existing shareholders who participated in the successful equity raise and a sizeable pipeline of acquisition opportunities, we are well placed to achieve this ambition and can look forward to the further scale and diversification benefits which additional investment will afford."



Evert Castelein, Lead Fund Manager, Aberdeen Standard European Income Logistics, added:

"The structural changes underpinning the continued growth of the European logistics sector show little sign of abating. Supply chains are being optimised with the demand for logistics boosted by the rise of e-commerce as more people across Europe have adapted to buying online. Alongside this, we are increasingly seeing the growing trend of near-shoring overseas manufacturing closer to home and higher inventory levels, in order to reduce operational risks. The result is a significant demand supply imbalance of modern Grade-A stock, in strong locations, meaning that vacancy rates are at historically low levels.



"The Company's forensic approach to asset selection and strict investment criteria has resulted in another period of strong financial performance. By focusing on property fundamentals and counterparty quality, we feel well placed to capture both rental and capital growth, with the necessary downside protection. Despite the weight of global capital seeking to access the sector, the opportunity in the mid box and urban logistics space for experienced managers with deep local market expertise remains sizeable, underpinning our strong conviction in the Company's prospects."

[cwa1] 30/9/2021 11:02

I haven't heard re my application yet, with ii. If I may ask who are those that HAVE heard their allocation with? Cheers

[petewy] 30/9/2021 10:09

Healthy set of results?

[bathcoup] 30/9/2021 08:52

Yes, my account has been credited shares equivalent to 75% of the amount I applied for.

[alan pt] 29/9/2021 20:17

Looks like I got scaled back 25%, still pretty happy with that

[speedsgh] 23/9/2021 12:02

Savills IM report pinpoints new opportunities in European industrial and logistics sector -

[speedsgh] 23/9/2021 12:02

@elvor - Page 20/21 of that Quoteddata report answers your query. Basically the dividend is declared in euros and has been static in euro terms since the trust has been fully invested post-IPO. The fluctuation of the div payments in sterling terms is therefore due to FX movements. Note that the company does employ currency hedging to provide greater certainty on the level of Sterling distributions paid in
respect of each FY.

[cwa1] 23/9/2021 10:50

Here's something, from just a few posts ago, for you to get your teeth in to research wise:-



HTH