Share Name Share Symbol Market Type Share ISIN Share Description
Capital & Regional Plc LSE:CAL London Ordinary Share GB00BL6XZ716 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  -1.30 -2.26% 56.20 299 08:00:32
Bid Price Offer Price High Price Low Price Open Price
55.20 59.80 56.20 56.20 56.20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 70.00 -23.30 -22.00 93
Last Trade Time Trade Type Trade Size Trade Price Currency
08:00:31 AT 299 56.20 GBX

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25/4/202218:50Capital and Regional plc271
11/7/201610:23Caledonia Mining- London listing coming?2
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29/12/201411:32capital & regional converting to a REIT1
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Capital & Regional (CAL) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2022-06-29 15:13:1757.6233,79319,472.81O
2022-06-29 14:59:5458.4434,24220,011.85O
2022-06-29 14:22:2558.00876508.08AT
2022-06-29 14:22:2258.007,7984,522.84AT
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Capital & Regional Daily Update: Capital & Regional Plc is listed in the Real Estate Investment & Services sector of the London Stock Exchange with ticker CAL. The last closing price for Capital & Regional was 57.50p.
Capital & Regional Plc has a 4 week average price of 56.20p and a 12 week average price of 54.40p.
The 1 year high share price is 75p while the 1 year low share price is currently 54p.
There are currently 165,399,863 shares in issue and the average daily traded volume is 30,579 shares. The market capitalisation of Capital & Regional Plc is £92,954,723.01.
rambutan2: It lives! Mall Debt Restructure and Reduction, Launch of Open Offer, Posting of Prospectus as well as Notice of General Meeting Capital & Regional plc (LSE: CAL) ("Capital & Regional", the "Company", or the "Group"), the UK convenience and community focused shopping centre REIT, is pleased to announce that it has reached an agreement with its lenders to restructure and reduce the debt secured over its four Mall Assets (the "Mall Facility") (the "Mall Debt Restructuring"), including the launch of a fully underwritten open offer to raise GBP30.0 million (the "Open Offer"). Lawrence Hutchings, Chief Executive Officer, comments: "We recently announced a set of results which clearly demonstrate the relevance of our Community Centres Strategy, the underlying strength of our portfolio and the skills and commitment of our team. Against the backdrop of a positive reopening of the economy following the disruption caused by the pandemic and increased confidence in our segment of the retail and services market we have been focusing our resources on generating the highest returns from our core Mall investment assets while working closely with our lenders towards both restructuring and reducing the Group's debt. "These proposed transactions, which will recapitalise the balance sheet, allow us to achieve just that and represent a significant and positive step forward for the Group. They will allow us to once again focus fully on continuing our repositioning and merchandising, while looking at how we can best leverage the expertise in our platform and, in due course, the reintroduction of cash dividends." "I would also like to take this opportunity to thank all of our stakeholders including our lenders, major shareholders and Growthpoint, as well as our teams, retailer customers and the local communities for their continued support throughout the challenges that the pandemic has presented." Key Highlights -- The Mall Facility currently comprises a GBP265 million debt facility with RBS and TIAA secured over the Four Mall Assets, being the Mall Blackburn, the Mall Maidstone, the Mall Wood Green and the Mall Walthamstow. TIAA currently has a balance outstanding of GBP165 million and RBS has a balance outstanding of GBP100 million. -- Under the terms of the Mall Debt Restructuring, Capital & Regional Holdings Limited (the "Purchaser") has agreed to acquire the GBP100 million of debt outstanding with RBS (the "RBS Debt") for a principal amount of GBP81 million, representing a discount of GBP19 million or 19 per cent.
1nf3rn0: Shares of Capital & Regional are worth holding onto, the Sunday Times's Sabah Meddings said in her 'Inside the City' column.The tipster pointed out how the shopping centre operator was outperforming rivals on several key metrics.Furthermore, its net asset value was 75% higher than its current share price, a possible indication of an "opportunity" for investors, Meddings also said.Year-to-date, CapReg's rent-collection was running at 60% and a spate of deals may boost that figure to 70%, versus 41% at Hammerson.In parallel, Hammerson's net asset value had plummeted 85% to 85.0p per share.CapReg's portfolio value meanwhile had fallen by 27.5% or £200m, versus a 41% drop at another of it rivals, Intu.Helping CapReg, many of its community-based centres, which are anchored around a grocery tenant, "put it in a strong position".Indeed, the company was busy refurbishing its food halls to appeal to Deliveroo.Nevertheless, Company Voluntary Arrangements were likely to continue, Meddings cautioned, and as CapReg's boss Lawrence Hutchings had argued in the past, there is 30% more retail in the UK than is needed.Over the preceding year, 17 of CapReg's tenants had gone insolvent through CVAs, twice the 2019 figure."Hold", said Meddings.
nickrl: CAL have three Debenhams that are down the swanny although rents have been bashed down by the CVA already so maybe not so much to lose but there stuffed with not having service charge income as well as empty rates to pay. Not going to break them but there Arcadia outlets also unlikely to be reopened so no wonder share price is down
nickrl: 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!
spectoacc: 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: 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.
spectoacc: 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: CAL Getting it's just rewards now.......wrong sector, wrong business model. Wrong CEO. Wrong to take on the people of Luton. Kiss of death. We warned you. You took on a fight you could never win, big eye off the ball, big deflection, big mistake. CAL drowning in debt, no chance of easing the lock down in time to save this pile of carp.
swindon41: I mentioned WHSmiths more because they are heard pressed to compete - albeit OK at the moment - and are going to be negotiating hard with CAL for rent forgiveness/rent reductions as much as anyone else....they have a trump card to play in that they ARE one of the few large space-renters /high street retailers doing OK and boy do CAL need them to biggest fear for CAL is the business model: it's based on large amounts of debt that is serviced by ( ever upawards increasing) rental flows as retail high street tenants compete with each other for the valuable space that CAL centres occupy. The model is broken - and in my view for good. I'm commenting here more as a property valuer than an investor; previously the dice have been loaded in favour of landlords: now it's with the tenants and their valuers. If I'm correct, you're likely to see rentals falling, void increasing and bad debts rising - all leading to falling NAV's. If that happens, it will mean one thing: Gearing Covenants being broken and the owners of debt taking control and at best if CAL are to survive it will be via debt for equity swaps. Make no mistake, if that happens equity gets decimated. All imho and DYOR as I could be way out ( I was wrong about the speed with which CAL's share price has plunged) . If you still believe in retail, perhaps better to invest directly in those you think will survive like WHSmiths if you think they have a compelling long term business offer.
spectoacc: I think Woodford's selling will send NRR lower, but they're are a developer & pubco really. The "buying more shopping centres" is more the new JV/management side. Their rents are super-low and with Co-ops, the occasional Lidl, & resi, they seem to sweat things well. I fancy the ones who do the buying to ultimately do well, and the ones stuck with tired legacy stuff on high rents to do badly (CAL, INTU, HMSO for eg). But - takes two to make a market! If I'm wrong, CAL could be a bargain. But I think there's a lot more downside to come on the CAL/INTU stuff, & for reasons above IMO CAL at high risk of going to zero. Is possible I'm wanting to have my cake & eat it - I have some BLND for eg. Edit: NRR: "NewRiver REIT plc ('NewRiver') is a leading Real Estate Investment Trust specialising in buying, managing, developing and recycling convenience-led, community-focused retail and leisure assets throughout the UK. Our GBP1.3 billion portfolio covers over 9 million sq ft and comprises 34 community shopping centres, 19 conveniently located retail parks and over 650 community pubs. Having hand-picked our assets since NewRiver was founded in 2009, we have deliberately focused on the fastest growing and most sustainable sub-sectors of the UK retail market, with grocery, convenience stores, value clothing, health & beauty and discounters forming the core of our retail portfolio. This focus, combined with our affordable rents and desirable locations, delivers sustainable and growing returns for our shareholders, while our active approach to asset management and inbuilt 1.9 million sq ft development pipeline provide further opportunities to extract value from our portfolio. " As compared to CAL: "Capital & Regional is a UK focused retail property REIT specialising in shopping centres that dominate their catchment, serving the non-discretionary and value orientated needs of their local communities. It has a strong track record of delivering value enhancing retail and leisure asset management opportunities across a c.GBP0.9 billion portfolio of tailored in-town shopping centres. Capital & Regional is listed on the main market of the London Stock Exchange and has a secondary listing on the Johannesburg Stock Exchange. Capital & Regional owns seven shopping centres in Blackburn, Hemel Hempstead, Ilford, Luton, Maidstone, Walthamstow and Wood Green. Capital & Regional manages these assets through its in-house expert property and asset management platform. " So there's overlap in what CAL have and claim (minus 650 pubs of course), yet NRR's is "bought cheap", rented cheap, tertiary stuff, and CAL's are a series of secondary-located old-style shopping centres. Or - NRR is B&M, convenience stores, pubs, CAL is TopShop/Debenhams. Happy to hear dissenting views, as always :)
Capital & Regional share price data is direct from the London Stock Exchange
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