Capital & Regional Share Discussion Threads

[deadly] 23/12/2020 14:19

Jump today 26%? Bid?

[nickrl] 11/11/2020 17:44

This ones a smaller version of INTU imv and don't know who advised Growpoint but I would sue them although without there investment im sure they would have needed a capital raise. There on the rack over rents and not covering there admin & finance costs currently but are quite exposed to the can pay that won't pay brigade so this one could be beneficiary if the moratorium is lifted in December.

Several assets have breached there covenants with lenders but have short term waivers so i guess it now depends on whether there is some stability in asset values now.

Divi was suspended but as a REIT they acknowledge that some further distribution is required but are asking HMRC to approve a 6mth deferral. They estimate upto 7.4m would have to be distributed or 7p a share.

Growpoint could have bought the lot for less than 50m a few weeks ago but clearly realise when they opened the tin it was as Specto described!

[1nf3rn0] 11/11/2020 10:20

It really is! I've taken advantage of weak pricing over the last 6 months to add some quality shares and funds to my portfolio. I wonder if now is the time to add some garbage like this... :)

[spectoacc] 11/11/2020 09:28

UANC and CAL are like comparing caviar with dog sh*t ;)

If I were Growthpoint I may want to take out the rest just to hide my embarrassment.

[1nf3rn0] 11/11/2020 09:12

June NAV 229p. If we assume it's now around 2 quid, would an offer at half that amount be accepted? (still almost double current share price). Or would a bid need to be much closer to NAV to be successful?Urban & Civic accepted an offer at NAV last week (which was still too low in my view) although CAL is a much higher risk proposition.

[nickrl] 15/10/2020 12:28

Specto report worse than others but share price have spiked up on unusual volume - if only EPIC could respond so positively!

[spectoacc] 15/10/2020 08:43

You thought? I didn't :)

51% rent collection in the post-lockdown period, before re-entering restrictions.

"September footfall outperforming the national index by 11%" a favourite.

"This means we have collected approximately 56% of all rents that have fallen due from the 25 March 2020 to the date of this announcement, including rents payable on both a quarterly and monthly basis. "

Will that get better or worse from here? They've got cash, but is it covering interest repayments & costs? Interims was £67m unrestricted cash as at end-June, at end-Sept is £60m.

[deadly] 15/10/2020 08:41

Good update today.

[tiltonboy] 24/9/2020 14:21

It obviously took somebody a long time to realise they put an order at best on the SETS board.

[spectoacc] 24/9/2020 14:14

First UT 5k shares 52.2p at 8.50am. Next also 5k shares, 59.6p at 9.07. Then a large 39.1k shares UT'd at 68p at 9.13. Were some keen buyers (& a few more prescient sellers) in the early 70's around 9.14-9.16am, & a bid bot appeared 72.2p. All a bit odd considering where it now is.

[tiltonboy] 24/9/2020 14:01

Looks like the purchases were at 0907, and the unwind at 0915.

[spectoacc] 24/9/2020 13:49

Went on a bit long for FF - was well bid and multi-hit at 72.2p, as well as through 3 auctions on the way up (and now 4 on the way down, lol).

[tiltonboy] 24/9/2020 13:28

Fat-finger trade

[spectoacc] 24/9/2020 13:20

Now negative on the day, amazing.

[knowing] 24/9/2020 09:26

Some move !

[spectoacc] 24/9/2020 09:23

Wow back to 50p!

[spectoacc] 24/9/2020 09:12

Not seen anything, but Growthpoint the obvious thought..

[knowing] 24/9/2020 09:08

Whooo whats going on

[spectoacc] 16/9/2020 14:00

How deep are Growthpoint's pockets tho? They won't want to walk away from something they only recently paid £3.30 and £2.50 per share for (pre-10/1 consolidation).

Hard to believe now, but only c.61% of shareholders voted the offer through. Even without Covid, CAL were a basket case.

5.4p now in old money.

[swindon41] 04/9/2020 12:25

Can't see debt being serviced for long here, and then its bank covenants that will be breached. It won't end well. retail will not imho revert to old norms, many shoppers have changed for good. Imaginative reuse of existing sites say to residential might be part of the solution.

[spectoacc] 04/9/2020 11:29

Agree with all that but the part that caught my eye was:

"We are now working to better understand the long term impact of the current uncertainties to determine the best approach for reducing debt levels...".

I reckon Growthpoint's involvement/partial ownership prevents an INTU - but can see a situation where there's another big fundraising at a level only Growthpoint support.

[nickrl] 03/7/2020 14:01

In line with others 34% rental collection so far vs 40% they've now recvd from previous qtr. Half of what is owed is from the big retailers who won't be able to withhold if moratorium removed end of Sept?

[pauladrew] 18/4/2020 16:55

Company maintaining 11p Dividend

From RNS 24th March 2020

Within its Year End Results announcement on 5 March 2020 the Company proposed a final dividend for the year ending 30 December 2019 of 11 pence per share (the "Dividend").

The Company is maintaining the Dividend but, in light of the evolving impact of the COVID-19 pandemic, is proposing to initiate a scrip dividend alternative, subject to shareholder approval at the Company's Annual General Meeting scheduled for 20 May 2020.

The Company's Directors and its three largest shareholders, Growthpoint Properties Limited, Mstead Limited and PDI Investment Holdings Limited, who together represent approximately 60.6% of the Company's Issued Share Capital, have all confirmed that they will take up the scrip option for the entirety of their holdings. In addition, a further three of the Company's largest shareholders have also indicated that they will take up the scrip option, which would increase the total take-up to at least 65%.

The Board believe this approach to be the most beneficial course of action to take in the current circumstances, noting that it:

-- Results in the majority of the proposed GBP11.4 million total dividend payment being preserved in cash within the business;

-- Demonstrates the support of the Company's largest shareholders;
-- Maintains compliance with the Company's REIT requirements; and
-- Provides other shareholders with flexibility to take cash or the scrip alternative.

[pauladrew] 18/4/2020 16:42

swindon41 read the RNS update on 31st March 220 - 'As at close of business on 25 March 2020 the Group had total cash on balance sheet of over GBP90 million, which is equivalent to more than one year's gross revenue'.