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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Ediston Property Investment Company Plc | LSE:EPIC | London | Ordinary Share | GB00BNGMZB68 | ORD 1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 68.80 | 0.00 | 00:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 68.80 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 12/1/2024 | 11:07 | ALNC |  IN BRIEF: Ediston Property shares removed from LSE amid liquidation |
| 12/1/2024 | 08:00 | UKREG | London Stock Exchange Notice Cancellation - Ediston Property Investment Co... |
| 11/1/2024 | 17:48 | ALNC | IN BRIEF: Ediston Property shareholders vote for liquidation |
| 11/1/2024 | 11:34 | UKREG | Ediston Property Inv Comp PLC Result of General Meeting |
| 10/1/2024 | 17:07 | UKREG | Ediston Property Inv Comp PLC Holding(s) in Company |
| 10/1/2024 | 15:10 | UKREG | Ediston Property Inv Comp PLC Holding(s) in Company |
| 09/1/2024 | 16:44 | UKREG | Ediston Property Inv Comp PLC Holding(s) in Company |
| 09/1/2024 | 16:38 | UKREG | Ediston Property Inv Comp PLC Holding(s) in Company |
| 08/1/2024 | 15:10 | UKREG | Ediston Property Inv Comp PLC Holding(s) in Company |
| 05/1/2024 | 17:48 | UKREG | Ediston Property Inv Comp PLC Holding(s) in Company |
Ediston Property Investm... (EPIC) Share Charts1 Year Ediston Property Investm... Chart |
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1 Month Ediston Property Investm... Chart |
Intraday Ediston Property Investm... Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 09/10/2024 | 11:04 | EDISTON - A propco Managed for Yield | 2,130 |
| 07/9/2020 | 13:36 | Inspecs Group - Designer and Manufacturer of Eyeware | - |
| 27/2/2008 | 13:11 | Earthquake - On line survey - add your input | 3 |
| 15/3/2005 | 19:00 | What's in an EPIC? | 2 |
| 14/12/2002 | 04:48 | shorters charts | 8 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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| Top Posts |
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Posted at 24/9/2024 23:52 by chucko1 Did EPIC have some dotty old aunt who had money stuffed under her bed? Was she the one who forgot to invest the cash?It's barmier than SLFR/X, and that is saying something. |
Posted at 24/9/2024 13:39 by spectoacc I guess HL pay the cheque into my ISA?Love the little kicker at the end - how much extra per share? £10? £0.000000001? |
Posted at 24/9/2024 13:02 by justdave20 Received the following good news.Ediston Property Investment Company plc (In Members’ Voluntary Liquidation)(“ I can confirm that there will be a second cash distribution to shareholders of the Company and we have received confirmation from the Company’s Registrar, Computershare, that this distribution (which will be made by cheque only) will be made to shareholders on 30 September 2024. The Joint Liquidators have confirmed that the rate of this distribution will be 1.45 pence per ordinary share. There have recently been some developments as the Company may also be due additional funds, although, at this stage, it may some months before this is received. As such, we estimate that there will be a third and final distribution to shareholders around June 2025 (perhaps sooner if the funds materialise earlier) however we do not yet know the quantum of this distribution. We will provide an update to shareholders once these details have been confirmed and a third and final distribution can be made to shareholders of the Company. |
Posted at 16/9/2024 08:49 by theoldcodger From AJ Bell today:The liquidators intend to make a second cash distribution of approximately GBP0.0121 per share by the end of September 2024. A further distribution is expected to be made around June 2025. |
Posted at 13/9/2024 06:36 by chucko1 October? (is 9 months)"envisaged"! EPIC!!!! But yes, it's just one more unexpected hiccup, though nothing with EPIC can be categorised as "unexpected" as they were never in the business of envisaging anything. |
Posted at 08/6/2024 17:49 by spectoacc Indeed, but we're due a little tickle at some point - just that I can't recall when, or how much. It's the final wind-up amount, have had it several years later in some cases, but am sure EPIC was stated as being sooner.ie half a p or something, not big money. |
Posted at 07/6/2024 12:39 by spectoacc When do we get our final small payout on EPIC? |
Posted at 08/9/2023 19:44 by perfect choice So I'm reading a different view of the RNS text below and whether holders will either get 72p plus dividends paid before liquidation, or 72p, reduced by any dividends paid before liquidation.Key issue is interpretation of "unless" in sentence "the estimated amount per Share available for distribution to Shareholders in the liquidation .... is expected to be materially the same as the Estimated Net Assets per Share of 72.0 pence, unless and to the extent that any dividends are paid in the period between Completion and liquidation." So I am reading that as a condition to the value of NAV (£152.2M) equating to 72p, so if dividends are paid out that leaves less for the final value per share payout, so dividends are in effected deducted from 72p. Now more than happy to be told that is wrong and dividends are on top, if that is the case can somebody explain please. Financial effects of the Disposal on the Company -- The Property Portfolio comprises the entire business of the EPIC Group. After adjustment for estimated transaction costs, the Company expects, immediately following Completion, to have Estimated Net Assets of approximately GBP 152.2 million, equivalent to 72.0 pence per Ordinary Share[1]. -- The Estimated Net Assets per Share equates to a 17.7 per cent. premium to the Share price of 61.2 pence as at 15 March 2023 (the closing price immediately prior to the Strategic Review Announcement), a 14.0 per cent. premium to the Share price of 63.2 pence as at 2 August 2023 (the closing price immediately prior to the Strategic Review Update Announcement) and a 10.8 per cent. premium to the average Share price over the twelve months to 2 August 2023. The Estimated Net Assets per Share equates to a 10.8 per cent. discount to the latest published net asset value per Share of 80.77 pence, as at 30 June 2023. -- If Shareholders subsequently approve the voluntary liquidation of the Company on or around 31 December 2023, the estimated amount per Share available for distribution to Shareholders in the liquidation (taking into account the estimated costs of liquidation, service provider termination costs and estimated net income in the period following Completion) is expected to be materially the same as the Estimated Net Assets per Share of 72.0 pence, unless and to the extent that any dividends are paid in the period between Completion and liquidation. -- No transitional services arrangements in respect of the Property Portfolio will be required following the Disposal as Realty Income will take over the management of all the assets within the Property Portfolio immediately upon Completion. The Company will not, therefore, incur costs in implementing transitional services arrangements in respect of the Property Portfolio going forward. |
Posted at 16/8/2023 07:26 by edinandy REIT finds buyer for £200m+ portfolio16 Aug 2023 | by Chris Borland Platform comprises 11 retail parks What Ediston Property Investment Company had been considering ways to merge and consolidate with other REITs but has now agreed a sale of its retail park portfolioWhy Board had said its modest size made raising capital difficultWhat next Realty Income Corporation lined up to buy portfolio recently valued at £208mAfter exploring potential merger and consolidation options with other REITs, Ediston Property Investment Company (Epic) has settled on the sale of its £200m+ retail park portfolio to a high-flying US investment firm, React News can reveal.Realty Income Corporation has agreed terms to buy the 11-asset retail park collection from Epic, with pricing rumoured to represent a significant premium to what shares in the REIT are currently trading for. Abrdn, NewRiver, Custodian REIT and UKCM were also in the hunt for Epic.Earlier this month Epic's board said: "It is in advanced discussions with a third- party buyer regarding a possible sale of the company's property portfolio. There can be no certainty at this time that a sale of the company's property portfolio will take place; nor as to the final terms on which, or the price at which, any such sale might be undertaken." Epic declined to comment on the deal with Realty the US investor that has steamrolled the UK's retail warehouse market in recent years but it signals an end to a process that has explored ways to bolt Epic on to a complementary REIT as well as various other ownership and sale options.Epic kicked off a formal process to find a new owner in May after announcing a strategic review in March, citing challenges around liquidity, attracting larger investors, market profile and cost efficiencies that were related to the modest size of the REIT.One stated preference was to pursue a merger with one or more other REITs, however with potential partners also trading at notable discounts to net asset values, the board has landed on a portfolio sale of the real estate. It would lead to an assumption Realty has gazumped other options on the table with an offer that is close to the company's net asset value, with values for retail warehousing remaining broadly stable despite a general pricing erosion for UK commercial real estate.Epic's portfolioAt the end of June, Epic's |
Posted at 29/3/2023 21:03 by williamcooper104 Oliver Shah in React Capco and Shaftesbury; LXi and Secure Income; Workspace and McKay; LondonMetric and Mucklow: whisper it, but consolidation in the listed segment is finally happening. We all know the obstacles to corporate dealmaking management team turkeys tend not to vote for Christmas, and discounts to net asset value can make the numbers awkward.But we also know the REIT sector needs bigger, more liquid companies to attract the attention of generalist investors. This wave of mergers and acquisitions is long overdue.Ediston Property Investment Company (Epic), the quoted owner of 11 regional retail parks, did its bit for the cause this month. It put out a statement saying, in effect, that it had reflected on its position and decided it needed to find a merger partner, sell itself, or liquidate its portfolio and return the proceeds to shareholders.Epic, which has a market cap of around £130m, summed up the argument for wider PLC real estate M&A when it said: "The company, like many of its peers, remains of a size which might deter some potential investors. Challenges as to liquidity, the ability of larger investors to achieve their desired quantum of investment commitment, market profile and cost efficiencies are all directly referable to the modest size of the company.""Very brave, minister"It was an admirably honest assessment. "Very brave, minister" might have been the civil servant's verdict. The decision to put an M&A process out in the open from the get-go was also unusual. One investment banker not involved speculates that Epic might have held private conversations with a suitor and not got anywhere before issuing the statement. Another describes it as "a very high-risk strategy, unless they have a deal in the background that we just don't know about". But a source close to the company says: "Epic wants to find the best solution, and only by kicking it into the public domain can you explore all the options."Epic presumably had the support of big shareholders such as TR Property Investment Trust, which has been vocal about the need for consolidation. In many ways, M&A is more difficult at the shallow end of the industry, where directors may be more attached to lifestyle businesses, portfolios may be of more mixed quality and small market caps don't move the needle for big acquirers. Epic will be an interesting case study.Person, Human, TarmacEpic's Prestatyn Shopping Park. The retail park specialist does not have any pure competitors that would make obvious merger candidatesSince its float in 2014, the company has sold its office and leisure assets to concentrate on retail parks in locations such as Glasgow and Rhyl. It doesn't have any pure competitors and LondonMetric, which still dabbles in retail parks despite its logistics focus, is understood not to be interested, put off by Epic's holdings in Scotland and Wales. Any partner would have a portfolio that would skew Epic away from retail parks. So getting bigger would come at the cost of straying from the strategy.Deal or no deal?The obvious big suitor would be British Land, which has been active in the retail parks space. Discounts would make it tricky, though. British Land is trading on around a 50% discount to September's NAV of 695p per share. Epic is on around a 35% discount to its September's 95p. Taking British Land paper share-for-share would be dilutive to Epic investors, then, while adjusting for the discrepancy would be dilutive to British Land investors. Not easy.Another prospective industry consolidator, the diversified REIT Picton Property Income, has found that it can take time. Picton danced with Invista Foundation Property Trust in 2011 before it was taken over by Schroders. It looked at flexible office company Workspace in late 2021, but decided the numbers didn't work. Michael Morris, Picton's chief executive, made clear his desire to lead corporate activity at the start of last year, saying transactions were "inevitable". But so far, nothing has transpired."Especial |
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