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Share Name Share Symbol Market Type Share ISIN Share Description
Axa Property LSE:APT London Ordinary Share GG00BYW5PW74 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 36.90p 0.00p 0.00p - - - 0 05:00:01
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 0.0 -4.2 -21.2 - 8.64

Axa Property Share Discussion Threads

Showing 651 to 675 of 675 messages
Chat Pages: 27  26  25  24  23  22  21  20  19  18  17  16  Older
DateSubjectAuthorDiscuss
15/1/2019
17:11
Something to keep us going - redemption on 29 January of 11.3% of shares at NAV of 45.39p. Very welcome. REDEMPTION ANNOUNCEMENT Further to the powers granted to the Board by: 1) the passing of the Special Resolution to change the Investment Objective by the requisite majority at the Extraordinary General Meeting held on 26 April 2013, and 2) the passing of the Special Resolution to amend the Articles of Association of the Company by the requisite majority at the Extraordinary General Meeting held on 27 February 2014, there is approximately £1.2 million in unallocated cash now available for distribution to Shareholders as a result of the ongoing, managed wind-down of the Company through asset disposals and corporate re-structuring. The Company will return this amount, equivalent to approximately 5.13 pence per Share, to Shareholders on 28 January 2019 (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 “Circular̶1;) 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 45.39 pence, by reference to the NAV per Share as at 30 September 2018. The Redemption will be effected pro rata to holdings of Shares on the register at the close of business on the Redemption Date. Approximately 11.3% of the Company's issued share capital will be redeemed on the Redemption Date (that is approximately 11.3 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. (continues)
redhill9
14/1/2019
13:12
As you may have seen, a certain Mr Nixons is looking to take over the vehicle, which we can only assume he will loot at the expense of “normal” shareholders once in charge (black box mandate, undetermined fees, no return of capital as planned currently etc). First step: EGM in a week (23Jan), in which he seeks to be appointed as director. People who share my view, should imperatively vote their shares ASAP against this directorship appointment resolution.
jeangl
04/11/2018
18:33
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.
nicholasblake
02/11/2018
22:13
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.
horndean eagle
02/11/2018
20:58
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.
horndean eagle
02/11/2018
17:21
JGH03, Good points, thanks.
redhill9
02/11/2018
14:34
redhill - I agree that these are worth holding, but I think the 29% discount to NAV may be slightly overstated. Note 7 to the accounts says, "In accordance with IFRS accounting standards, the valuation attributed to the property in Curno is before any allowance or deduction of capital gains tax due on sale. The extent of these taxes will depend upon whether the asset is sold directly, in which case full capital gains tax on the chargeable gain is due, or within the existing corporate structure, in which case the extent of the net price adjustment will depend upon commercial negotiations between the Company and the buyer. In either case it is expected the impact will be a reduction in net proceeds." Also, while the accounts are presented in Sterling, the sale and rental are presumably in Euros, so you would need to take account of any change in the GBP:EUR exchange rate.
jgh03
02/11/2018
14:17
Just been looking at the June annual figures reported a few days ago. I calculate that cash (after allowing for debtors, creditors and provisions) equates to a tad over 12p per share out of the NAV of 45.68p, so around 33.6p of the NAV relates to the property value. With share price at current 36p that suggests the property is in the share price for only around 24p, a discount to NAV of 29% (assuming cash continues at same level, i.e. rental income covers costs). Also assuming after the massive write-down in value that the property is fairly valued in the NAV, and with the prospect of an up-rate when the lease is re-negotiated with a sale then increasingly likely, this looks like a strong hold?
redhill9
02/11/2018
08:51
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.
nicholasblake
01/11/2018
23:13
They are not going to get a change in strategy away. They would need 75% of votes in their favour. Don't think they stand a hope in hell.
horndean eagle
01/11/2018
20:30
I imagine the 1m buyer is buying into a new strategy rather than the realisation play. Probably safest not to assume any cash back any time soon.
nicholasblake
01/11/2018
13:49
1m shares were traded ealier in the week. no idea what that was all about. They just need to get on with things. Fees and costs are horrendous. Need to totally sort that out. You would hope once they have lease sorted it should be an easy sell. Even now if i were in Italy I would fancy the property at current valuation. You could leave the tenant in place. Collect rent for the next 6 years and you would have your money back. you then have option value on the property and can do something with it if so desired.
horndean eagle
01/11/2018
11:29
I think we can safely assume he's not going to breach 30%.
nicholasblake
01/11/2018
11:01
Reaching 30% would be very significant. According to the City Code on Takeovers and Mergers, "When a person or group acquires interests in shares carrying 30% or more of the voting rights of a company, they must make a cash offer to all other shareholders at the highest price paid in the 12 months before the offer was announced." Source: hxxp://www.thetakeoverpanel.org.uk/the-code/download-code Whether there is scope to adjust the price offered downwards in the light of capital redemptions I don't know.
jgh03
01/11/2018
10:44
He's disclosed 29.8%, so not sure 0.2% is worth worrying about?
nicholasblake
01/11/2018
10:23
Suspension a good way to stop Mr Nixon increasing his shareholding
rj allen
18/10/2018
13:46
I agree nb. May be worth increasing
atholl91
17/10/2018
10:22
Judging by Investor's history he could be looking to use shell to repeat the value investment style he ran at Guinness Peat Group?
nicholasblake
16/10/2018
16:17
Well done Shareholder whose votes restored the listing. No reason why the Board cannot continue to sell the property. It has use as a shell.
atholl91
24/9/2018
11:10
Its all a bit of a shambles. Aviva sold out at 39p. They are close to finalising lease negotiations and also in talks to dispose of the asset. I guess the new buyer will just push them forward into hurrying up the sale. Not sure whether we get full value from it not but hopefully a decent uplift from 39p
horndean eagle
03/9/2018
15:40
That is before the liquidator's costs, any further discount following the completion of lease negotiations and tax on the disposal.
nicholasblake
03/9/2018
14:10
In the announcement issued 9 August 2018 and the subsequent shareholder circular dated 10 August 2018, the Directors confirmed that in view of the proposals to place the Company into voluntary liquidation on or around 7 September 2018 ("the Proposals"), there is currently no intention to prepare Financial Statements of the Company or updated NAV for the financial year ended 30 June 2018 or subsequent years, pending approval of the Proposals. Whilst it is still the intention to cease the release of audited financial statements for the period ending 30 June 2018 and for future periods should the Proposals be approved, the Directors are nonetheless pleased to provide the following unaudited financial information for the period ending 30 June 2018. NET ASSET VALUE The Company's unaudited Consolidated Net Asset Value as at 30 June 2018 was GBP 10.69 million and the NAV per share was 45.68 pence per share.
davebowler
14/8/2018
20:59
thanks for that.
deadly
14/8/2018
20:46
hTTps://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/APT/13749735.html
davebowler
22/6/2018
18:32
RNS: On 21st June 2018 the Board unanimously agreed that it is in the best interests of the Company and its Shareholders to wind up the Company voluntarily in accordance with the Companies Law, appoint Linda Johnson and Ashley Paxton of KPMG Channel Islands Limited as Liquidators, and to cancel the admission of its shares to the Official List of the UK Listing Authority and to trading on the London Stock Exchange.
kalkulacka
Chat Pages: 27  26  25  24  23  22  21  20  19  18  17  16  Older
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