First Property Share Discussion Threads

[baner] 22/8/2023 13:59

what a messy company this is..........not easy to understand the value, nor the "strategy" - other than filling habib´s pockets what ever the performance.......

[stevegrass777] 11/7/2023 11:28

It seems now interest rates have gone up, lettings are going up probably as companies are preferring to let rather than buy.

[stevegrass777] 07/6/2023 08:07

RNS loans platform, it's hard to comment much on this until it starts to bring results in.
Obviously it sounds like FPO are bringing other investors in as well as ourselves so a shared risk approach sounds a good way to start,and they seem to have a conservative lending criteria.

[stevegrass777] 19/5/2023 08:57

Another buy RNS for Habib.

[stevegrass777] 12/5/2023 10:00

Are directors thrashing around buying shares so they get their own way on voting.
Scared that gyllenhammer will out vote them.

[baner] 12/5/2023 08:09

It is interesting to see that the directors are now buying shares in the market at a price 20% higher that the strike price at which the options were issued a month ago - and, hold your breath, there is a 10 year maturity on these options! What an absolute scandal this is.

[baner] 11/5/2023 07:52

Not ”difficultR21; to justify Steve - it is totally impossible to justify ! These shares were 50+ 6 years ago……230;…..the company would probably do much better if habib left for the politics 100%. However, it would be sad for the country, of course.

[stevegrass777] 10/5/2023 18:36

The property deals are ok, and obviously it depends on market conditions,but the options grab is hard to justify especially when you point at difficult market conditions as an excuse for under performance.
And don't tell me it didn't cost the company anything,as it cost us already suffering shareholders!!!
A massive % grab like that is difficult to justify White knight

[guywhite knight] 10/5/2023 13:49

You’d be best advised to learn a little about property, how properties are repositioned and market movements over the last 3 years before jumping in with both feet and revealing your idiocy.

Few deals make the stellar returns already generated by Gdynia with more to come.

Now toddle off and do some research before venturing another idiotic opinion.

[smithie6] 10/5/2023 13:41

The building in Gydnia is 72% empty.

What a brilliant purchase that was !!

[smithie6] 10/5/2023 13:37

if the management are so good why is the share price so low

& why have shareholders done so badly over recent years
60p in 2018 & only 27p now.
£10k invested then would now be worth <£5k !!!

while the boss has got richer via bonuses !!

[guywhite knight] 10/5/2023 13:21

You are aware the Gdynia property was bought by FPO with the debt in place? The company made a cash on cash return of 100% per annum on its investment for 6 years, depreciating the property all the while knowing the value would eventually be below the debt. It then renegotiated the debt level from a position of strength giving the company the opportunity to make a capital gain, while avoiding a wipe out for the bank. Sounds like damn good property and financial management.

[smithie6] 10/5/2023 12:42

last years "profit" only reflected a book profit from a hair cut that a polish bank had to accept as a result of habib´s bad management of the gdynia property. and for that he was paid a £1.35m bonus !!! horrible"

did the boss really get such a big bonus

for getting the share price down so low !!

nuts imo

[stevegrass777] 10/5/2023 10:44

With the director buys,I take it they are fighting for control of the company with Gyllenhammer.

[baner] 27/4/2023 19:14

still i guess Habib will be paid £1m+ of bonus for this transaction.........plus given
a further 8m options for nil consideration.........

[speedsgh] 27/4/2023 13:34

They are looking for £60m. Doesn't mean they will achieve that. Maybe not one of their best purchases?

[stevegrass777] 27/4/2023 13:24

Bought for 62.5 and sold for 60?

[speedsgh] 26/4/2023 16:04

First Property Group Eyes £60 Million Borehamwood Office Campus Sale -

Imperial Place Comprises Four Offices and Is Home to Just Eat, Taylor Wimpey and Simarc

First Property Group is bringing to market for sale Imperial Place, amajor office campus in Borehamwood in Hertfordshire, seeking £60 million or a net initial yield of 8.10%

[continues behind paywall]

-----------------------------

Imperial Place was bought by an Fprop fund in 2018 for £62.5m...

[baner] 25/4/2023 07:53

Steve - you are absolutely correct in what you write, this is a massive transfer of shareholders value over to the greedy management team. Habib is enormously overpaid already - for doing a mediocre job at best.

Oh, i forgot today´s announcement - they have let 200+ sqm in the Gdynia property - fantastic!!! This must give Habib another £100k or so in bonus one would assume………….?

[stevegrass777] 24/4/2023 23:18

"The options tie in key people at no cash cost while debt is scarce and markets under pressure. Unless they perform, the options will expire."
You've been careful with words here,no cash cost,but it is giving a massive amount of the company % wise, rarely seen.and as you say at a tough time.
This is hardly small change.and Habib is already paid enough with bonus etc.
This is a step to far as give aways go.
It might not cost the company cash,but it certainly costs the shareholders part of there company.

[kemche] 24/4/2023 21:31

Guy, are you habib?

[guywhite knight] 24/4/2023 20:21

Markets have been turned on their heads in the last six months. Interests rates and inflation rocketing. Work from home causing other problems. All hitting debt markets, banks and property. Best to make sure management are locked in with shareholders.

The options tie in key people at no cash cost while debt is scarce and markets under pressure. Unless they perform, the options will expire.

FPO has been through many cycles and Hanib has delivered. Including Covid and the GFC too.

Let’s see how the company performs over the next year or two.

[baner] 24/4/2023 16:53

steve

u r spot on! this is the most disgraceful "behaviour" of any RemCom that has been seen for very long in a UK public company. habib´s performance is mediocre at best - and he has been exceptionally well paid for delivering.......not very much to shareholders in recent years. in fact the share price has gone steeply south and the dividend has been cut by two thirds...........last years "profit" only reflected a book profit from a hair cut that a polish bank had to accept as a result of habib´s bad management of the gdynia property. and for that he was paid a £1.35m bonus !!! horrible.

[stevegrass777] 24/4/2023 11:37

Isn't it striping assets giving yourself so many options, it's very unusual that options given to CEOs or management can be measured by a % of the company,this is very unusual behaviour and not acceptable especially if you say property is going through a tough time,why give so much away to yourself?