Abrdn Property Income Share Discussion Threads

[greenroom78] 03/12/2012 15:33

Every buy seems to move an MM on L2, we'll be at the stage where each buy generates a tick soon.

[cockneyrebel] 03/12/2012 15:32

Some chunky trades.

CR

[sportbilly1976] 03/12/2012 14:47

quite possibly GG...a few more 5k+ buys and we'll see :)

[soundbuy] 03/12/2012 14:47

76p paid for 2600 shares - should have gone to Specsavers!

[greenroom78] 03/12/2012 14:30

Looks like someone needs a better broker!

[greenroom78] 03/12/2012 14:29

2.6k @76p?

[sportbilly1976] 03/12/2012 14:28

76p paid for 2600 shares...thats some TDW premium!!

[greenroom78] 03/12/2012 14:25

Surely it is 'significant' if it is on the books for nothing? It is worth 10p per share after all.

[sportbilly1976] 03/12/2012 14:21

mmm, I wonder if the valuation is a contentious issue with the sale...certainly 15% to me isn't significant

[speedsgh] 03/12/2012 13:50

sportbilly - According to that interview posted by CR over the weekend ( US property valued at c£8m. Current mcap c£54m. So just 15%?

[sportbilly1976] 03/12/2012 13:43

"It's worth pointing out that API has a hidden and valuable asset in its New Jersey site which "covers 20 acres within the Manhattan commuter belt and is potentially worth a significant part of its market capitalisation"

mmmm...how much of a significant part - 30%, 40%??

[speedsgh] 03/12/2012 13:32

WJCCGHCC - good spot. This is undoubtedly the cause behind the sudden buying. It's from ST's wider article on Crystal Amber who own a stake in API...

"Packaging materials group, API, is of keen interest, too, after the board put the company up for sale following pressure from major shareholders. The sale process is ongoing, but a sale looks likely after US activist fund and 32 per cent shareholder Steel Partners and 28 per cent shareholder Wynnefield Capital announced they want to sell out. The most likely bidders are trade buyers in Germany and the Middle East and foil-makers in Asia. It's even possible that Illinois Tool Works may bid even though its offer of around 100p a share was turned down seven years ago.

It's worth pointing out that API has a hidden and valuable asset in its New Jersey site which "covers 20 acres within the Manhattan commuter belt and is potentially worth a significant part of its market capitalisation" according to Crystal Amber, adding that even without a bid "reorganisation, investment and marketing initiatives combine to offer share price upside well in excess of 100p". I agree and, with API shares currently priced at 70p in the market, there could be significant upside from this holding, too.

It goes without saying that I rate Crystal Amber, Sutton Harbour and API all as buys."

[greenroom78] 03/12/2012 13:26

At midday?

The first buy came in at 12:09 and that opened the floodgates (when you consider how illiquid this normally is).

[wjccghcc] 03/12/2012 13:14

Simon Thompson in IC mentioned it.

[greenroom78] 03/12/2012 13:14

I think we are clearing a seller tbh, it dropped from low 70s and stuck at 70p for a while regardless of the buying.

[sportbilly1976] 03/12/2012 13:08

MM's not wanting to let this go...100k of buys and just a 1p increase.

[greenroom78] 03/12/2012 13:04

Those buys all came through together, something has been said somewhere - we didn't get a Numis or ED upgrade last week relating to the results. Might be that maybe?

[interceptor2] 03/12/2012 12:56

Broker comment or a tip I would guess, as looking at the size of the transactions they look like small private investors imo.

API doesn't seem to leak news, unlike MDM last week.

ic2...

[sportbilly1976] 03/12/2012 12:51

CR,

possibly if it was released at noon....

[cockneyrebel] 03/12/2012 12:49

Hmmm, news about? Broker comment or a tip perhaps.

CR

[sportbilly1976] 03/12/2012 12:48

imo something is poised to be released...

[hardrider8] 03/12/2012 12:43

first buy in over offer now. Nice bounce point aswell on the weekly trend.

[sportbilly1976] 03/12/2012 12:33

130p please...just shy of £100mln mkt cap :)

[sportbilly1976] 03/12/2012 12:21

nice flurry of buys coming through since 12pm....