Alpha Share Discussion Threads

[hosede] 19/11/2013 11:43

It seems quite wrong that they can't sell (at least the unmortgaged) property to pay part of this loan off BEFORE the main loans

[fenners66] 19/11/2013 11:28

And they can afford to burn €2.2m ?
Just because Barclays is holding the gun?

[hybrasil] 19/11/2013 11:19

On thinking about it even if they had got bank money at favourable terms the best they could have hoped for is euribor + 3 so at the worst they are paying 7% too much on 25m or £1750000 per annum

[senor_sensible] 19/11/2013 11:16

no point buying until the price has stopped dropping, get rid of a few small sellers, I will be buying a few more then...

[prokartace] 19/11/2013 10:47

better buy some then QS99

[hybrasil] 19/11/2013 10:22

I sold out for the moment.

[qs99] 19/11/2013 10:01

Nav may now be slightly less given interest but we are still sitting at a ludicrous discount in my humble opinion so value will out...

[fenners66] 19/11/2013 09:53

I can almost believe that (given the way they have already been fleeced) this loan could be compound daily !
Then repayment would be €3.4m in interest after all "rolled up is mentioned".... and the management have proved so good they probably would not have asked either.

[jimmy12345] 19/11/2013 09:33

Sold mines, 7.82 held for 5 months expected a bit more of a rise today to be honest. Bought at 5p so cant complain

[cjohn] 19/11/2013 09:18

They can repay the new loan at any time AFTER repayment of the existing secured borrowings.

[senor_sensible] 19/11/2013 09:17

excellent news, the rental income will cover most of the hedge, the rest will go onto the debt when re-financed.

I would expect a few IIs, the management company and the BOD will be buyuing now out fo the close period. the MMs might hold the share price back to cover these buys so be careful not to get mugged. I am buying more.

Again, this is an excellent outcome from a bad situation we should not have been in the fuirst place. This is why the BOD need to dig deep and get some shareholder support now

[parsons] 19/11/2013 09:15

The spare cash has gone to the bank.

[bill-e] 19/11/2013 09:01

This was 16% up first thing???

[aspex] 19/11/2013 08:40

What happened to the spare cash?
Some comments suggested that the net(deficit) after accumulated cash was less than 10m euro.

[joe say] 19/11/2013 08:37

And surely the whole structure of the deal has been geared to do precisely that - so the interest cost may be a lot less than at first appears simply from a time perspective

[parsons] 19/11/2013 08:34

There are still buyers around for first class property. Also remember that valuations are always on the low side . So they could just sell a few properties and refinance the rest and get rid of THIEVING BARCLAYS they have 15 months to do it. Even this poor excuse for management should be able to do that !!!

[cjohn] 19/11/2013 08:30

Just about all? Well, an extreme but interesting case. But if that did happen, the equity left would still dwarf the current market cap.

[fenners66] 19/11/2013 08:24

"what a scandal. 10%+ is outrageous. No wonder the banks are hated and seen as con merchants."

Here, here.

How can u trust a bank like that?
The fact that they are setting out from the start that the interest will be rolled up says to me they can't pay it, so out of the frying pan...
And what happens in 2015?
Just about all the equity in property handed over to the bank , or else?

[jimmy12345] 19/11/2013 08:16

There not intrested in letting you sell either

[parsons] 19/11/2013 08:14

Quite right spooky I am adding.

[spooky] 19/11/2013 08:07

Well they are not too interested in letting me add to my position this morning. Look around the market and you can see property stocks trading at 10% discounts, there are some trading with discounts of around 20%+ but nothing like this, these are going way higher. The market knows it, they are just hoping that a few private investors can't quite work it out :-o)

[qs99] 19/11/2013 08:02

Markets like it so far...will we see 10p soon?

[empirestate] 19/11/2013 08:00

what a scandal. 10%+ is outrageous. No wonder the banks are hated and seen as con merchants.