Highcroft Investments Share Discussion Threads

[superadams] 23/1/2024 14:07

TISE may tell you !

[mtioc] 23/1/2024 10:44

They could not provide details of platform that would allow dealing on TISE.

[spectoacc] 23/1/2024 10:31

It's a scheme/scam to get peoples shares on the cheap, and I'm very surprised Simoon Thompson couldn't see that.

As someone above pointed out - if they wanted lower listing costs, move to AIM.

Be interested to know what platform they had in mind for holding/dealing.

[mtioc] 23/1/2024 10:22

I wrote to the company who were fairly unrepentant. They even suggested moving my SIPP to an (unnamed) platform that would allow holding/dealing. Tail wagging dog.

This seems prejudicial to small, private shareholders. There is not a liquid or orderly market in the share (which is one of the reasons for the move). Those shareholders who cannot hold are effectively forced sellers into a very disorderly market. Perhaps the company should have buyback options for those in schemes (ISAs/SIPPs) with institutions that do not offer TISE holding/dealing at the 6 month average price before announcement. Wishful thinking!

[spectoacc] 23/1/2024 09:51

Appalling verging on scandalous IMO. From what I've seen of the intraday auctions, there's someone sat on the bid wanting 15,000 shares.

Now, who on earth could that be? Clearly the concert parties (IMO) have spotted an opportunity to clean up on the cheap. They either get your shares in the few weeks before they delist them, or they'll get them over time on TISE as the only buyers.

We've already seen a Holdings RNS.

Still waiting for someone - anyone - to point me to a UK retail broker who'll buy/hold TISE-listed shares. I can't even buy some UK-listed shares with some of them ("No KIDD document, sir" etc).

[1c3479z] 23/1/2024 09:38

minority shareholders well and truly stranded and locked-in unless they sell their holding before the middle of Feb, left with the invidious choice of either selling at a poor price or taking a chance on the future and hope for a tidying up of the company eventually with a reasonable offer to buy out the few remaining holders.
appalling treatment.

[glavey] 23/1/2024 09:08

Last time I came across something similar was as stock which moved from an LSE full listing to the Channel Island Exchange. Infrequent dealing was done by some kind of matched bargain arrangement via the companies broker / a full service broker and the dealing fees were quite significant. The general illiquidity meant it could take a while and there was little point unless dealing in reasonable size.

[spectoacc] 23/1/2024 06:58

Thanks all - yes, seems AJB allow you to hold, but not to sell. All the others are either sell before delisting, or take out of ISA and send you a cert. If AJB would theoretically allow a sell in future, that would make them the best.

Again tho, if no UK retail broker allows purchases, who are you selling to in future?

[1tx] 22/1/2024 22:42

It is worth pointing out that the major shareholders Kingerlees have been involved with Highcroft for 50 years;it was a tiny investment company into which they invested property assets.They actually floated the company & it later morphed into a reit after it sold its listed investments and concentrated just on properties.The Conn's I think have been here 25 years.
The annoying thing for me is if I cannot continue to hold in an ISA is the increased Tax.REIT divi's are actually taxed at a higher rate than tax on other non reit company divi's.

[mtioc] 22/1/2024 22:35

AJ told me that I can hold in my SIPP but not buy, and only sell if there is a market.

[crumppot] 22/1/2024 22:14

AJ bell will hold Highcroft in an ISA I have been told.

[superadams] 22/1/2024 21:07

Specto. Most of mine are held in an AJBell ISA so I need to work out how I sell any, if the day ever comes.

[spectoacc] 22/1/2024 20:37

@superadams - have you a broker who'll allow trading on TISE? I've yet to find any, which doesn't bode well for finding buyers if you're one day a seller.

[superadams] 22/1/2024 20:17

I voted against but having studied the TISE website, I'm feeling much more positive about it all. I bought in knowing full well the family involvements and still look forward to good income growth longer term.

[spangle93] 22/1/2024 17:51

84.12% per cent. of votes cast by Independent Shareholders at the General Meeting were in favour of the Resolution

The Company announces that at the General Meeting held earlier today, the special resolution put to the Company's shareholders was duly passed.

Accordingly, the last day of dealings in the Company's ordinary shares on the premium segment of the Main Market will be 19 February 2024

[spectoacc] 22/1/2024 16:37

Personally expecting it to go through, but - be nice if they told us, either way. Been several buys since 2pm.

[1tx] 22/1/2024 16:34

The Conn concert party has previously voted against Kingerlee Concert party in particular voting against their then board non exec Edward Kingerlee in 2022 who resigned.

[spectoacc] 22/1/2024 16:30

Probably shouldn't be surprised that they've failed to issue an RNS before close, 2 and a half hours after the vote.

Will be no RNS's ever from HCFT before long.

[1c3479z] 22/1/2024 14:32

fingers crossed that this has been voted down,
will hear shortly.

[spectoacc] 22/1/2024 08:56

Meeting is at 2pm today.

Half expected a clarification from Simon "ramper" Thompson at the end of his usual piece in the IC this week.

Nope - instead it was a plug for his book.

Not the first time he's dropped the ball, but this one seems particularly heinous.


Edit - have written to the IC, should have done it sooner.

[spectoacc] 20/1/2024 15:35

To me it says "trash the price then pick them up on the cheap".

We'll know on Monday.

Have now asked the same question to HL 3x, and they completely clueless. Last response was that you wouldn't be able to sell again, and it would be sent out of your ISA for being an unrecognised exchange.

I've pointed out to them again that TISE is a recognised exchange.

[1c3479z] 19/1/2024 19:02

can interpret this as
buying in the knowledge that MOnday's vote unlikely to go through so takes advantage of the temporarily depressed price
or know that the vote will pass so will add to their position and bargaining power while there's some liquidity.

[spectoacc] 19/1/2024 16:50

Would that RNS be a concert party taking the opportunity to buy on the cheap I wonder?

[williamcooper104] 19/1/2024 10:14

Staggering Should be writing about what to do to prevent things like this happening

[spectoacc] 19/1/2024 09:48

Since the price is holding up relatively well, I wonder if the concert parties are currently buyers, so is very much designed to shaft minorities.

ie "We're delisting from London, you all have to sell on the cheap to us".

If it's not that, it'll be that they're the only buyers on TISE from future sellers.

Is ST really unaware of all this?