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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Axa Property Trust Limited | APT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 31.75 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 31.75 | 31.75 |
| Top Posts |
|---|
Posted at 28/2/2019 10:41 by nicholasblake Good to see uplift in NAV at half: |
Posted at 07/2/2019 20:16 by horndean eagle Yes. A change will require 50% and given he got voted on board it is likely he would win again. Whether APT directors will let it get as far as fighting it is another matter. I really don't like what they are proposing but I fear we are going to legged over. |
Posted at 04/11/2018 18:33 by nicholasblake HE, The group will take a loss on Curno but if by way of an asset sale the sub which owns it could make a taxable profit if it owned the asset BEFORE APT bought the sub.IMO the bigger point is that with a continuing mandate and a refreshed board a price closer to 2017 book value ought to be on the cards, which would push NAV/share (prior to any CGT)above 50p. |
Posted at 02/11/2018 20:58 by horndean eagle jgh03 - think you are barking up the wrong tree. APT are going to take a huge loss on the property at current book value. Even the previous valuation would be a huge loss. |
Posted at 02/11/2018 08:51 by nicholasblake Not sure where you got the 75% from. Although APT did volunteer a special resolution in 2013, the listing rules only require 50% to make a change. |
Posted at 14/8/2018 21:46 by davebowler hTTps://www.londonst |
Posted at 03/2/2017 11:51 by redhill9 atholl91, I suggested something in excess of 50% so the distribution 44.76% is lower than I guessed could be afforded. I was estimating the respective ratios of the three asset components of Rothenberg, Curno and Cash/Debtors/CreditoI'm not unhappy as the distribution per share of 71.4p is top-end of what might have been expected, and the previous APT comments on 31 October about anticipating a sale of Curno (the one remaining property) within 12 months is encouraging for the prospect of another significant distribution this year as either a final payment or one that settles most of the remaining asset value. It was possible to buy APT at 64p for the first couple of hours yesterday before the market worked out the figures - arguably a bargain in the circumstances. |
Posted at 02/2/2017 11:01 by davebowler LSE:APTOKSearch Axa Property Share News (APT) 5 Follow APT Share Name Share Symbol Market Type Share ISIN Share Description Axa Property LSE:APT London Ordinary Share GG00BD5J7902 ORD NPV Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade -0.50p -0.80% 62.00p 62.50p 65.00p 64.00p 62.00p 64.00p 77,458.00 10:17:49 Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m) Real Estate Investment & Services 0.0 1.6 2.1 29.8 35.70 Alert AXA Property Trust Redemption 02/02/2017 7:00am UK Regulatory (RNS & others) TIDMAPT AXA PROPERTY TRUST LIMITED (a closed-ended company incorporated with limited liability under the laws of Guernsey with registered number 43007) REDEMPTION ANNOUNCEMENT Further to the passing of the Special Resolution by the requisite majority at the Extraordinary General Meeting held on 27 February 2014 and the powers therein granted to the Board, the Company will return approximately GBP18.4 million to Shareholders, equivalent to approximately 31.96 pence per Share, on 17 February 2017 (the "Redemption Date") by way of a redemption of a proportion of all Shareholders' holdings of Shares (the "Redemption"). Words and expressions that were defined in the Circular posted to shareholders on 4 February 2014 (the "Circular") shall have the same meaning where they are used in this announcement, except where the context requires otherwise. The Redemption Price per Share shall be 71.40 pence, by reference to the NAV per Share as at 30 September 2016. The Redemption will be effected pro rata to holdings of Shares on the register at the close of business on the Redemption Date. Approximately 44.76% of the Company's issued share capital will be redeemed on the Redemption Date (that is approximately 44.76 Shares for every 100 Shares held (the "Relevant Percentage")). Fractions of Shares will not be redeemed and so the number of Shares to be redeemed for each Shareholder will be rounded down to the nearest whole number of Shares. Following the completion of recent real estate sales as part of the Company's disposal programme more fully described in the Circular, the Company currently has approximately GBP18.4 million in unallocated cash, making this an appropriate time to distribute to Shareholders the unallocated cash. Further redemptions will be issued as cash reserves are made available for distribution. The costs and expenses of this Redemption are estimated not to exceed GBP7,500, equivalent to approximately 0.01 pence per Share being redeemed. The Company currently has 57,577,470 Shares in issue of which none are held in treasury. All of the Shares redeemed on the Redemption Date will be cancelled. A further announcement will be released following the Redemption Date to confirm the new number of Shares in issue. The Shares will be disabled in CREST on the Redemption Date and the existing ISIN, GG00BD5J7902 (the "Old ISIN"), will expire. A new ISIN, GG00BDC40227, in respect of the remaining Shares which have not been redeemed (the "New ISIN") will be enabled and available for transactions from and including the first Business Day following the Redemption Date. Up to and including the Redemption Date, Shares will be traded under the Old ISIN and as such, a purchaser of such Shares will have a market claim for a proportion of the redemption proceeds. CREST will automatically transfer any open transactions as at the Redemption Date (which is the record date for the purposes of the Redemption) to the New ISIN. Payments of redemption proceeds are expected to be effected either through CREST (in the case of Shares held in uncertificated form) or by cheque (in the case of Shares held in certificated form) within 8 Business Days of the Redemption Date. Shareholders will be paid their redemption proceeds in Sterling. EXPECTED TIMETABLE Redemption Announcement date 02 February 2017 Redemption Date, Redemption Record Date, 17 February 2017 (close of expiry of Old ISIN business) New ISIN enabled, CREST Accounts credited 20 February 2017 Payment of proceeds date 01 March 2017 |
Posted at 31/10/2016 18:05 by redhill9 Some quick thoughts:Reported NAV at 30 June was 67.2p. Adjusting that for exchange movement to 31 October the NAV becomes c. 72.75p, a discount of c.11.5%. There are two of the three remaining properties currently under offer representing (I calculate) c.70% of the property values, so c.£32.6m. Deducting Borrowings of £15.0m leaves £17.2m net cash expected to be generated by current sales and loan repayments. There is also £8.8m of cash held at 30 June (with current debtors and creditors more or less equal) so that suggests cash of c£26.0m could be available for distribution within a few months. The directors will want to hold some back, but if they distributed, say, £20m that would represent a redemption of c.49% of shares in issue at, presumably, a NAV of c72.75p (all other things, principally exchange rate, being equal). That would leave a residue of assets of c£20.5m of which about 30% would be cash and debtors/creditors and the remainder the value of Curno which may not be sold until we are well into 2017. Also, the results included this comment about Rothenburg: ......after the year end, a new under lease agreement was concluded at the shopping centre at Rothenburg Bavaria, which has significantly increased the asset’s value and saleability which suggests it is being sold at more than the value used for the 30 June NAV calculations. Overall APT still looks good to me with potential for half the shares being redeemed within 3-4 months at potentially c.11% above current Bid price and the remainder similarly redeemed in (say) 9 months. |
Posted at 13/10/2016 12:22 by redhill9 The extension of the loan facility to only December 2016 seemed perhaps to suggest that APT were confident of selling the remaining properties within that timescale. If the Italian properties were being marketed in June and the German property being prepared for sale at that same time then we might have hoped to have heard something by now, four months later. Personally I'd be happy for them to take a quick sale at below NAV and get the proceeds distributed a.s.a.p. |
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