Hammerson Share Discussion Threads

[redoctober5] 12/3/2021 13:08

can anyone please explain to me in plain English what everyone is talking with reference to scrip .?shorts have to stump up 0.2p?. I am new to this financial jargon.

[smithie6] 12/3/2021 12:30

I am sure that you are right.

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scrip done at a solid % yield to reward shareholders for holding the shares....while they take a risk waiting for the locations to be fully open again

& phps also to dissaude shorters. ??

[catsick] 12/3/2021 12:26

I guess whoever has had their shares lent will want the scrip so the will be short the scrip option would be my guess, if not you would not lend them ..

[flyfisher] 12/3/2021 12:13

What is the situation with short interest and dividend.

Do they have to stump up 0.2p or do they have their short increased by the scrip amount of 2p in shares.

Do they have a choice?

[return_of_the_apeman] 12/3/2021 10:46

94% occupancy, lets see how that holds up when rents are due to be collected following the re-opening of shops - a return to propper dividends will also put pressure on the shorters as they will have to pay them.

Will be interesting to see the prices realised for assets. In my naive world if they get anywhere close to nav for them that would be another shr price enhancing moment

[williamcooper104] 12/3/2021 10:41

Majority of the outstanding rent will be won't pay can't pay rather than the likes of Boots who are in the can pay won't pay camp

[nickrl] 12/3/2021 10:35

Best part of £55m of outstanding rent inc current qtr. Be interesting to know how much is from the can pay but won't given the scale of waived rent would cover units in trouble.

Suggest these are still vulnerable to needing another cash raise with refinancing needs over next couple of years. Will APG offer to take the French sites off their hands?

Value retail will be down again this year but potential to bounce back in 2022 as global vaccination levels improve.

[gclark] 12/3/2021 10:35

Good points made. I share this counter viewpoint now that the demise of people working in offices and going to shops is exaggerated. I've been working from home - big drawbacks in terms of interconnecting with colleagues and learning from each other. Online is ok for difficult to get hold of products, but I like to get out to buy things, so retail is not dead. It is always the balance, maybe some shift towards more home working and online retail, but by how much is always the question!

[carer] 12/3/2021 10:30

I can see why the company needs strategic review. It probably will shed more assets to get some cash

[return_of_the_apeman] 12/3/2021 10:29

It's not orchestrated by MS, their continued buying of a significantly reduced free float is just one factor that will make it more difficult if the shorters want to close. How much more MS wish to accumulate is anyones guess but adding another 5% would reduce the free float by a further 25% and the shorts would have to buy approx 50% of free float to close

Only 1 month until shops re-open and I am expecting biblical queues and comments that the demise of non-online shopping was overdone which would be a big catalst to the shr price here if I am right

A lot of reits have started buy back programs as they are at discounts to nav - what an effect that would have here, someday it may happen who knows, but imo it would be significant given the current free float

Just my opinion, we shall see, figures are approximations

[gclark] 12/3/2021 09:53

Yeah, the points you make are valid carer, and I have been thinking on this one as well. I was short, the price went up, I went long and the price went down! It's easy to swing both ways!
I'm now a little bit long, for interest really. A small stake so not committed, but on balance I see:
MS buying - for themselves, or another for a bid, who knows?
real estate has value, this is not like a carillion where it was all about the value of contracts, will they get any more contracts if there are questions about their viability?
they do have some high value sites
land can be reused - what is the relative worth of a retail park as residential, who knows in aggregate, somebody would need to spend a lot of time going through each site - maybe MS did this, who knows?
the net asset value of 82p when the share price is 32p appears appealing
But I'm not convinced it is a short squeeze orchestrated by MS. Why is it in their interests for the price to go up if they want to buy more? The shorters have to buy back, but the current holders are the beneficiaries. If MS was now reducing their holding to sell to shorters maybe, but they aren't.
An interesting one ....

[carer] 12/3/2021 09:38

With high street retailers like John Lewis announcing permanent closures of many stores, The future for the companies like HMSO is not very clear. Even After the pandemics, it is not very clear how the high street will recover as people have changed the shopping habits. Certainly it will not be as normal as before. After my research, I decided not to get in this one, even though JPMG has built up a sizable stake.

[1hughb] 12/3/2021 09:17

hxxps://kvgo.com/IJLO/Hammerson_2020_Full_Year_Results Here's their webcast for 9.30

[sr2day] 12/3/2021 09:09

I expectthe share price to be driven down until the scrip issue is over.

[researchcentre123] 12/3/2021 08:35

So it would seem that they are planning on constant 2p scrip dividend or 4p a year. My guess is they are working on share price going up to 80p or so, just below NAV giving pple a good 5% return at that point on their cash, until they improve the assets of course.

[researchcentre123] 12/3/2021 08:26

That's a very good note nb92. So 8% shorts have at some point to buy the shares off 20% of the shareholders, some of whom are holding for the long term - it looks a bit awkward for them to me and unlike gamestop this is actually still much below NAV.

[researchcentre123] 12/3/2021 08:18

Hopefully they've all got it worked out this time. Last time Hargreaves Lansdowne took it up automatically

[irishmatt] 12/3/2021 08:14

Which broker is that. Scrip was easily dealt with last time at II

[researchcentre123] 12/3/2021 08:13

Yes that scrip is a bit annoying - it's a kind of wealth distribution between those who take it up and those who don't!

[topnotch] 12/3/2021 08:08

Blasted through it's resistance of 33p - next resistance 41p

[topnotch] 12/3/2021 08:01

Hmmm, Markets seem to like the news....

[catsick] 12/3/2021 08:01

All looks ok to me, the worst is over, cash generation for the year not so disappointing, nav at 82p a good base and a target to shoot for, scrip div is annoying as I have to make a special request to my brokers to deal with it and would be better to give .2p cash to everyone

[noujay] 12/3/2021 07:56

Likewise. NAV 0.82 vs share price 32.6

[bigchungus] 12/3/2021 07:55

Isn’t it the opposite of Carillion? Weren’t all about phoney big profits, while the liquidity was always dreadful and getting worse. Hammerson have reduced their debts and increased their liquidity. I’m cautiously bullish.