Abrdn Property Income Share Discussion Threads

[philjeans] 31/1/2011 13:54

T/O coming here with potential bidder holding 29.7% already.

[knowing] 31/1/2011 12:39

Been saying that for over a year now when the price was 6p.

[hello dolly] 31/1/2011 12:39

Online limits turning bearish

Tree shake?

[citytrader 007] 31/1/2011 12:06

... is this one of them ones that everyone says "its great" but no one buys it ?

[aishah] 31/1/2011 10:51

API Group Plc
("API" or the "Company")

Director Shareholding and Notification of Significant Interest in Shares

The Company announces that, on 28 January 2011, Andrew Turner, a director of the
Company, bought 310,000 ordinary shares at a price of 16 pence per share.
Following this transaction, Andrew Turner has a beneficial interest in 351,231
ordinary shares of 1 penny each, representing 0.46 per cent. of the issued share
capital of the Company.

The Company also announces that, on 28 January 2011, Wynnefield Capital, Inc, a
substantial shareholder in the Company, bought 725,000 ordinary shares at a
price of 16 pence per share. Following this transaction, Wynnefield Capital, Inc
has a beneficial interest in 22,815,474 ordinary shares of 1 penny each,
representing 29.77 per cent. of the issued share capital of the Company.

[knowing] 31/1/2011 09:55

Well that was certainly great news.

[philjeans] 31/1/2011 09:32

Yes - could be.

And then pull up the 5 year chart...................and relax.

Miles of blue sky above!

BUY.

[seagreen] 31/1/2011 09:23

About to break out

[philjeans] 31/1/2011 09:11

Yes; easily 30p.

Overhang cleared (who bought, I wonder???); loss maker sold; debt reduced; tidier, tighter, slimmed down business now making good money.

Looks way too cheap.

[seagreen] 31/1/2011 08:43

super smashing great on to 30p hopefully

[seagreen] 28/1/2011 19:23

retailinvestors still blissfully unaware carry on

[philjeans] 28/1/2011 16:14

So; at a stroke, losses removed; debt reduced; overheads shaved and management more focussed on driving growth and profit.

Splendid.

[philjeans] 28/1/2011 15:54

No - I see an RNS was released first thing at 7.00am!

Not listed on ADVFN - they miss these quite a lot for small AIM stocks.

So, we're shot of the loss making division in China; received a slug of cash for doing it, and can now really concentrate on the good bit.

Excellent news.

[philjeans] 28/1/2011 15:50

Overhang gone I think; warrant holders finally got a deal presumably.

News of Chinese division sale proceeds overdue - probably next week now.

Looking very good for a strong bounce.

[aishah] 28/1/2011 15:48

Big Volume today - chunck of shares moving home I guess.

[seagreen] 19/1/2011 18:21

excellenty

[philjeans] 19/1/2011 07:44

Cash sale proceeds from the China division not yet received; should be in by end of Jan.

Expect an RNS then and a re-rating.

[seagreen] 18/1/2011 07:32

philjeans......you may be right ....but the nav will look good vs profit ......will check when I have a second...but I still have an intiitla target of 25p

[philjeans] 08/1/2011 18:49

seagreen; been checking out your figures from post 121 on 29/12 - I agree these look cheap.

However, can't quite agree this bit;

"This leaves the remaining business with potetnial annual operating profits of £4m equivalent of a market cap net of cash of only £4m"

The profit forecast may be about right; but they have £14M debt at present and so after receiving the £8M from China, they'll still have £6M debt - not £4M net cash.

Am I correct?

One to follow, but perhaps may not be as undervalued as you were suggesting.

[aishah] 30/12/2010 10:14

Broker eps upgrade in the last few weeks to 2.40p and a buy rating. Top-up time imo. dyor

[seagreen] 29/12/2010 18:42

I guess if you go to a PE of 2 it should double, to 3 it should treble etc therefore will be interesting as in theory they are implying they have sold the non performing chinese asset

[knowing] 29/12/2010 10:50

Thanks for that.

[seagreen] 29/12/2010 10:49

For your consideration from a boring accountant



seagreen - 29 Dec'10 - 10:47 - 62 of 62 edit

APT well checked up with a few share holders over xmas who all seem happy its undervalued ..having seen the interim results I see the market cap is a tad low at £11.88m according to ADVFN

From Interim accounts a few snipets

Especialy when you see they have their Chinese asset in the interim accounts at disposal value of £8,644,000 which presumably means they are expecting £8.6m comining in cash very soon (note implys December 2010) versus a market cap of £11.88m when the underlying business is making a profit according to accounts of

* Operating profits from continuing operations of �GBP2.5m, against a loss of GBP0.2m at the interim stage last year.

More about the Chinese asset

* Decision to exit loss-making, foil manufacturing operation in China. Sale of the Group's 51% shareholding at an advanced stage with completion expected in December 2010.

As with the income statement, the balance sheet has been re-classified and now shows the China business as a disposal group and valued in line with expected proceeds from the sale of the Group's 51% shareholding. As a result, assets have been impaired by a further �GBP5.9m, or �GBP3.0m after accounting for minority interests.

Assets of disposal £,000
group held for sale 6 8,642

i also see defered tax losses

Deferred tax assets 7,045


Forgive me for thinking this is still undervalued hugely if the £8m in cash comes in and the NAV is only £12m and the underlying operations are making an operating profit of £2m over 6 months (before the exceptional item write offs)
and they have a nice defered tax asset of £7m.....

This leaves the remaining business with potetnial annual operating profits of £4m equivalent of a market cap net of cash of only £4m

Staggering ............8-)))))))

The full note for the accountants amongst you

[philjeans] 27/9/2010 15:40

It's only 1p; but it's every day and it'll do me!

[seagreen] 27/9/2010 15:33

My only non-resource stock in the global equity world