Sounds like they are going to actually be re-listed/trade again I guess there will be (hopefully) a large distribution once the properties are sold and then a shell co with some cash for litigation left for another 3-5 years |
From today's RNS:
"The publication of these accounts also marks the point when Lynne Fennah, Marlene Wood, Peter Cardwell and Simon Moore stand down from the Board. I would like to take this opportunity to thank them for their support since I took the Chair role in January last year."
Anodyne enough I suppose so presumably that statement doesn't have any legal effect prejudicial to the company and/or shareholders. |
There was a single trade of 40,388 on 27th December, hardly worth Southey Capitals effort. Establishes a floor if they ever resume I suppose |
A few I'm sure, but they'd be "wallywoo"s if so.
Might get a holdings RNS.
No news on sale of the remainder yet. |
I wonder if anybody actually sold at 4p... |
Surprised to see I have a Corporate Action notification for the 4p/share offer from Southey Capital. Didn't expect that this was a serious offer, even though I would love to get rid.
Quote -
If you decide to tender your Home REIT shares, it is not currently known when we expect to credit the cash to your account.
Please note that Southey (the Offeror) reserves the right to not accept any tendered shares and to not purchase them. |
Be interested to hear why the ISS advised voting against - what does it achieve?
Isn't as if HOME isn't in wind-down mode already. |
Interesting votes at the AGMAnd the board will provide an update within 6 months! |
That's about 3.99p more than I thought share holders would walk away with. |
Yep 4p is silly 12p and they could have it |
4p huh
Who would ever have thunk that this pile of loss making debt ridden lifestyle pish run by a series of crooks would ever have been worth so much huh. |
4p? lmao Even their website looks dodgy.
A year ago maybe, but not now that the loan is repaid and there miraculously still appears to be some residual value left in HOME.
Agreed that the only takers are likely to be people needing a crystalised tax loss. |
Got to wonder if the long delays to the accounts (no relisting likely until Q2 2025, if at all) relates to the possibility of directors' liability. The longer it all drags on, the more it disappears into the past.
Running/legal costs vs rent would be interesting. |
Yes. I expect some will be desperate to create capital losses before end December.
The Board could sort this out by relisting the shares |
Ha ha brilliant - they should have made that offer before the SW loan was repaid tho.
10-20p IMO - same as it was before being suspended. 4p is a cheek. |
4p a share if you want out now |
Board seemed simply inept, clueless, knew less about what was going on than we did on here.
However - where does the buck stop, if not with them. If they RNS that all's fine & dandy & VR's allegations are bunkum, can they really hide behind having been told that by the very investment manager whom the allegations were against?
Another to remember in this: M&G, who kept buying as the shares tanked and clearly do so little research they didn't investigate the allegations even slightly.
Also a certain poster whose regular response was to accuse everyone else of being in league with VR/lawyers. |
 It's worse than that, some of the rent was paid by funds that were earmarked for refurbishment. Additionally vendors were settling charities debts with money that Home spent on acquisitions. The presentation for the recent webinar gives more detail about the deceptions that were going on behind the scenes. The Unusual Transactions and Lease Inducements slides are particularly damming for Alvarium. https://www.homereituk.com/wp-content/uploads/2024/11/Home-REIT-plc-Webinar-October-Final.pdfGiven the losses also experienced at the Home Long Income fund (M&S pensions scheme a major investor) it's reassuring that the FCA have now imposed increased reporting requirements on Alvarium. https://register.fca.org.uk/s/firm?id=001b000003RCZoHAAX#what-can-this-firm-do-restrictionsI doubt if this will end well for them but there's a wider question about how they managed to get away with it for so long. Very little point in getting annoyed with the HOME NEDs especially as they don't have the big pockets needed to redress the losses. There's a wider set of failings here that need to be addressed. I'm not confident but we're certainly due a surprise on the upside here. |
Yep - I dived in before it was suspended when the board said that "all rents had been collected" Neglecting to say that it had been paid with funds lent to them by HOME Was an idiot not to jump out when they couldn't get their accounts produced |
Hard to believe they paid that dividend post-suspension too - shows just how little the management knew about what was going on. VR (& we on here ex Wallywoo) knew more.
One teeny tiny plus for holders - when the loss is finally booked, it should be in a higher CGT regime.
Don't work out what you'd have got compound in the bank tho. Each year it drags out is effectively c.5% more loss. |
Indeed - suspect it never re-lists and that shareholders get most of the proceeds of the property sales by a B share and then get something small in several years time |
The £9m fee is offset by the break gains they've paid - they won't have been contractually obliged to pay that out |
Never mind covenants it won't have been at times able to pay the interest from rent |
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