55p, but we get it this month, which is impressive. More held back than I'd have expected, and Far Ralia really needs to get sold. |
The guide price for Far Ralia on KF website is £12m. |
Garbet - agree your figures. If we get a net £10m from Ralia that would provide a rump 2.6p/share to be paid out. |
It looks like they did this as a sale of the corporate vehicle that owned the assets, rather than transferring title to the properties individually to the buyer, which makes sense.
If that is indeed what happened, there will be a post completion true up of the target vehicle's accounts, to deal with any stray expenses which were incurred before the completion date but which were invoiced to the target after that date. It makes sense for the vendor to hold a bit of money back to deal with any points arising from that true up. |
I may be over-thinking.....
So we receive "initial proceeds of at least £234m"
- does this suggest there might be something subsequently?
- "at least" is encouraging
But "subject to normal adjustments, including those arising from the completion process."
- does this suggest that we may actually receive less? Significantly less, or just marginal cost uncertainties?? Or does this tie in with "initial"?
And is it logical to assume that the (unspecified) amount deposited in the liquidity fund is what will be returned via the B shares scheme?
I make £234m to be 61.4p / share. So, assuming marginal adjustments, the current share price is covered. And Far Ralia @ £10m would be a further 2.62p.
Absent further clarification, I'm not a buyer. And probably not a seller in view of the short timescale to early Jan |
Recommended this share to family but haven't kept up with events. The purchase of the property portfolio is worthy 64p per share. Then we have Far Ralia with an unknown value ....approx 4p per share?
Is this correct? |
Nice bounce on Monday ? |
Have made API my largest holding last couple of days, sold ERNS as dont want divi and at 60.5 looked better bet. Sold few in tonights auction as didnt see the news |
My view on Far Ralia unchanged from when they bought it, but would have hoped it might have found interest after the Budget uncertainty was cleared - no changes to woods tax nor to carbon credits etc.
(API my 2nd largest holding @frazboy ;)).
"....Make substantial returns of capital by early January 2025 (expected to be implemented in the first instance by way of a redeemable bonus share scheme) and to put the necessary mechanics in place ultimately to delist and place the company in members' voluntary liquidation....
The Company continues to market its interest in the land at Far Ralia and the cash proceeds of the Transaction will be held in a AAA-rated liquidity fund managed by abrdn, the Company's investment manager, apart from an amount to be held in a current account for Transaction and ongoing operating expenses." |
Quick off the mark there Specto!Capital return v soon, just need to sell that highland estate. |
Portfolio sale completed. |
Looks like Far Ralia is still up for sale.
hxxps://www.knightfrank.co.uk/properties/residential/for-sale/far-ralia-cairngorms-national-park-scotland-ph21/hub2341390
Presumably we will get the majority of the cash before the sale of FR has been completed? |
 Verbage below taken from the Sale RNS two months ago. So, this Friday sale should complete:
===========
Conditions and timetable:
Completion of the Transaction is anticipated to take place on 29 November 2024.
It is intended that subject to receipt of consent from the Scottish Forestry Commission, Far Ralia will be transferred from APH to API prior to completion.
Provisions have been made to complete on the sale in the event of a delay by Scottish Forestry, whilst protecting the interest of API.
The Transaction is also subject to clearance under the UK National Security and Investment Act 2021.
It is expected that following completion of the Transaction and at an appropriate point in time, API will seek API Shareholders' approval to appoint a liquidator to wind up the Company and to cancel the Company's admission to trading on the Main Market of the London Stock Exchange. Trading in API Shares will no longer be possible from that time.
From the point that the conditions to the Transaction are satisfied, API will not continue to fulfil the relevant conditions to qualify for UK REIT status.
The intention is to commence the returns of capital to shareholders as soon as the liquidator can do so. |
Date: 7 November 2024
Company: abrdn Property Income Trust Limited
Subject: Dividend Declaration
Third Interim Dividend
The Directors of abrdn Property Income Trust Limited (the "Directors") have declared a dividend of 1.0p per share payable in respect of the quarter ended 30 September 2024 split as follows:
Property Income Dividend ("PID") 0.3000 pence per share
Ordinary Dividend ("Non PID") 0.7000 pence per share
Ex-Dividend Date - 14 November 2024
Record Date - 15 November 2024
Payment Date - 29 November 2024
Dividend per Share - 1.0p |
I have parked some spare cash here with a view to picking up the ~5% or so. Quite a lot actually, sitting tight as I dont have anywhere else for it. |
Isn't the deal set for the 29th November so, shortly after that I would assume.
Also the said a 1p dividend will also be paid. |
Does anyone have an idea when we are likely to realise this investment if we continue to hold. I’m sitting on 224k shares and I’m keen to redeploy elsewhere. Also having trouble working out the likely payout per share including / excluding far ralia |
On The Market have it listed - previously, per my post 1244, it was showing as being no longer on the market.
And I can now find it on KF's UK website :
hxxps://www.knightfrank.co.uk/properties/residential/for-sale/far-ralia-cairngorms-national-park-scotland-ph21/hub2341390
Although, just possibly, I missed it previously as it's listed under "Residential"......! |
Did we work out if it's sold or not? I tried calling Knight Frank - no answer, probably all dealing with potential HOME valuation litigation. 3 ringing out, the mobile numbers all to voicemail: |
Should be an RNS if sold. |
Far Ralia
I can no longer find this on Knight Frank's website. And On The Market are showing it as No longer on the market.
Mildly encouraging |
Pre budget. CGT concerns? I would if I were him |
I see a NED has disposed of 128k shares |
RGL aren't that far ahead at 128p, but yeah 100p would have been a steal. I have bought a basket of different REITS and am hoping they do well. |
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