Ft Tre Discussion Threads

[azalea] 19/9/2013 15:13

It might be at that level after FY is announced next month. So far, he has not been wrong. Only time will tell how right he has been.

[spob] 19/9/2013 14:26

i'd say a 10-20% discount to book would be fair

around 30-33p

[protean] 19/9/2013 12:22

ST says the same i.e. shares trading on a hefty discount to the pro-forma book value and rates them a deep value buy ahead of results.

[azalea] 19/9/2013 12:01

Hah! Yes so I have discovered from my email alert system. No matter, the circa 48% discount to pro forma book value of 37p is huge, I look forward to the gap being closed substantially in the near term.

[protean] 19/9/2013 11:39

ST has covered the shares today in the IC so that's probably the reason behind the rise.

[azalea] 19/9/2013 11:29

Bid 20.55P
The return of a letter of credit for euro4.8m held previously against funds, could be influencing todays rise. However, given the time lapsed since the date of that announcement, could be additional monies on its way back into TRE coffers.

[azalea] 17/9/2013 08:08

S.Thompson: FY Results due by end of October, when "if the company continues to make progress with its asset sales, I would not be surprised at all if it announces yet another distribution to shareholders. A mere 6 weeks to wait.

[badtime] 16/9/2013 20:49

all gone a bit quiet here

[azalea] 14/8/2013 09:08

Kombimatec
Yes, weeks ago.

[kombimatec] 14/8/2013 07:34

Has anyone received the 15p per share yet? I haven't???

[norbert colon] 12/8/2013 15:01

I see a significant order for 500,000 shares at 18p on Level 2 with buy volumes at +600k compared to sells at 95k

[azalea] 12/8/2013 11:47

Bid @ 19.25P, best I have seen post the return of cash- of which there is more to come.

[azalea] 10/8/2013 09:19

S.T. said(29/7) that there could be another cash distribution around the time of the FY results in OCT.

[grahamg8] 10/8/2013 06:43

Following the cash dstribution there was some share price weakness. But now we seem to be in an up trend. Eventually this will reach my target price, but not for quite some time yet. Plenty of value still to be unlocked IMO. DYOR.

[azalea] 01/8/2013 07:02

Current discount to NAV is over 50%. Even if the share price tick up reaches S.T. 'fair value of 25p', it will still leave significant hesdroom in terms of NAV discount and further disposals.

[grahamg8] 30/7/2013 15:05

I agree Azalea. The Company isn't worth any more today than last week. So the rise is down to steady buying demand. And the most likely source of that is reinvestment of the distribution. Now if the II's tried to reinvest then there wouldn't be enough shares in issue to satisfy them. Stand by for take off!!! Well you have to be an optimist.

EDIT
Sorry folks, blew a fuse yesterday the comments below are for PVCS which I also hold and who are also returning cash to shareholders. TRE money now in my account, should I buy some more?

Actually on reflection the PV agreement between China and the EU is also positive. Remove some doubt over future pricing and the discount to NAV should fall.

So that's another reason for a rise.

[azalea] 30/7/2013 11:45

15P a share money in the account., The share price ticks up, possibly some reinvesting the money ahead of the next tranche

[azalea] 29/7/2013 15:28

29/7. S.Thompson:- "fair value 25p, would not be surprised to see another return of cash announced at the AGM - post FY results in October".

[azalea] 26/7/2013 16:13

Sometimes there is only one/two MM.

[jezza123] 26/7/2013 15:33

surely the only reason a MM taps another MM for shares is to fill their book order and/or replenish their book if there has been a big buy order put in. Otherwise MMs have no need to trade with each other given they make their money from commissions - now of course there is a lot of 'dark pool' nonsense going on too, so as a PI you can rarely make total sense of holdings.

[azalea] 25/7/2013 06:49

MM hold shares in the companies they are authorised to deal in. Its a fallacy that trades are just between other types of shareholders, if not, the net collective amount of shares helds by major institutions would never increase in their millions. Some of these large trades trigger a 3%(or more) declaration, without another major holder announcing a comparable decrease in its holding. So, excluding placings and rights issues, from where do these shares originate, if not from MM?

[jezza123] 24/7/2013 22:27

how can market makers sell azalea? unless you mean MMs are selling to each other??

[azalea] 24/7/2013 10:13

I had to dash off, so did not finish my post, now done.

[badtime] 24/7/2013 08:38

yes i figured that out from yur previous post...100-88=12 :)

[azalea] 24/7/2013 08:36

Between the MM and PI there's just 12% left(30m) .