Aew Uk Long Lease Reit Share Discussion Threads

[belgraviaboy] 26/2/2018 07:23

I still struggle to understand the strategy here. A petrol station does not sound exciting, but nevermind - however, capping the RPI rent increases to 3.5% hardly offers investors much protection against inflation rising....

[spectoacc] 09/2/2018 07:31

No; pretty bad tho, that was a big chance for them to scale up in size. Not sure when they'll get the opportunity again but it won't be at that premium to NAV!

[daveofdevon] 09/2/2018 07:18

The share issue has been pulled. Not surprising !

[belgraviaboy] 01/2/2018 16:07

It's XD - so all the prices above come without the dividend.

I must be missing something....

[jonwig] 01/2/2018 15:21

It is xd today, though.

Just saying.

[belgraviaboy] 01/2/2018 14:59

Tough choices here. Suppose for a minute, you want more shares, should you:

a) pay 99p in the offer
b) pay 98p in the market
c) wait for the market to realise they are worth leess than 92p

Just saying

[belgraviaboy] 01/2/2018 14:46

Good luck with that

[speedsgh] 01/2/2018 14:30

New fundraising at 99p. Maximum issue size of 35 million new Shares.

Proposed Issue of Equity -

[jonwig] 25/1/2018 14:43

SteMiS - - yes, price action is weird. Since trades are 'O' and go through a few market-makers, they must have a stock shortage or hidden demand. I find that strange given they want to issue stock, which ought to depress the share price. (Share price stabilisation is legal just after an IPO provided it's announced beforehand.)

Anyway, folks who read the RNS and want out have a free rein here.

[skyship] 25/1/2018 11:34

"...it's like there is some 'price management' going on here."

More than likely with the brokers working on a large equity issue!

[stemis] 25/1/2018 11:23

Interesting how the price is holding at 100p. I place an order to sell yesterday at a minimum of 99p but it was only part filled, despite the sell price never falling below 100p. I'm not usually a fan of conspiracy theories but it's like there is some 'price management' going on here. Anyway out here completely now...

Might go back in when it all settles down and I can see what the situation is going forward.

[jonwig] 24/1/2018 07:55

belgravia - I'm inclined to agree - huge acquisition costs and maybe quality of assets. This from LXI, a similar company:

The NAV and EPRA NAV per share has increased to 105.01 pence as at 30 September 2017, an increase of 7.15% from the 98.0 pence at the time of the Company's initial public offering ('IPO') in February 2017

EDIT: sold (happily) at 100p.

[belgraviaboy] 24/1/2018 07:43

Oh dear - NAV 92p. Glad I am well clear of this one.

It should be trading at a discount...

[skyship] 24/1/2018 07:39

Strewth - 92.27p - surely that has to be a seriously disappointing figure. Sp will be back below 100p for sure. Try to sell on the bell seems the best advice.

Plenty of far better players in this income sector - RGL perhaps the best.

[jonwig] 24/1/2018 07:09

Update including NAV. This has fallen to 92.27p due to acquisition costs which were 4.4% of previous NAV. This seems too high to me.

They'll find it hard to raise new shares unless it's well below 100p.

[jonwig] 09/1/2018 06:31

Citywire article says the new shares will be offered to both institutional and private investors:

[mach100] 08/1/2018 09:25

Thanks jon. I have more than 'oo,ooo so I guess i still don't qualify :P Having reread the RNS I don't think we will be given access but assume it is a positive move as long as the placing money achieves decent yields.

[jonwig] 08/1/2018 08:51

@ Mach - the initial NAV was 98p and they were due to calculate a NAV on 30 Sept which they haven't told us about yet. Another NAV due at 31 Dec. Actually I'd guess acquisition costs will wipe out any NAV increase in the interim. So you could be right that they issue shares at 100p or so.

But will you be invited to participate - unless you've a few '00,000 I doubt it!

[mach100] 08/1/2018 08:41

Morning jonwig. Do you think they will revert to the issue price of a 100p. i expect so myself given the short timeframe and that it was undersubscribed last time. I think though given what they have outlined today that it will be fairly straightforward to get investors subscribing and I shall certainly be adding myself. I wonder will some holders forward sell their holdings when the cut-off date is announced if the shares come discounted?

[jonwig] 08/1/2018 07:12

Happening more quickly - £30m new debt facility and attempt to raise £35m with a share issue (non-preemptive).

[jonwig] 19/12/2017 11:27

With today's acquisition, they've spent £49.4m to date, and say they have 13 further assets under offer. That would be an average of £2.4m each, which is lower than any single acquisition to date.

The next stage looks like a loan facility to finance these (30% is target, 40% max). I'd guess an equity fundraising will be a lot further down the line.

[speedsgh] 15/12/2017 15:34

Apologies for part O/T...

Thread created for Aberdeen Standard European Logistics Income plc (ASLI) which has today listed on the premium segment of the London Stock Exchange offering a focused long term income strategy exploiting the demand-supply imbalance in European logistics...

[spectoacc] 13/12/2017 14:02

That's not bad for the Aberdeen one - didn't get any but seems a good area to get into. Pity it wasn't when the £ was 30% higher of course ;)

[jonwig] 13/12/2017 09:24

II very efficient today - credited back the Aviva REIT application so I was able to buy back here and make a profit as well. (Not much, admittedly.)