Home Reit Share Discussion Threads

[igoe104] 16/2/2023 08:33

I think lots of inside information has been leaked, thats why they had such a short attack...

[wskill] 16/2/2023 08:13

This advisor has managed to make £350m and £263m raised in 2022 disappear well done boys nothing illegal with that in the UK .I am sure it would not be allowed in the USA or any other European country.

[spectoacc] 16/2/2023 07:17

OK perhaps not 10p - Bluestar Group Ltd is a single small co with a single (Belgian) financial advisor director, a total shareholder base of a single share, and about £167k balance sheet as at last accounts.



Or rather - if 10p, not from Bluestar.

[spectoacc] 16/2/2023 07:11

Please read this morning's RNS in the context of their strenuous denials to the VR allegations.

What an absolute sh*tshow. HOME continually exceed my expectations, in the worst possible way. Worst since Woodford, & before that the splits scandal.

This stuck out:

"For the quarter ending November 2022, only 23% of rent has been collected, meaning that out of a £14,827,147 quarterly rent roll, only £3,401,615 has been paid"


If I had to put a finger in the air, I'd say a 10p offer might come through. There's assets and not much debt, albeit the assets are turning out to be exactly what I thought they were & the "bid" seems designed to hold off the banks IMO.

Peterlee was the canary, and sadly seems repeated elsewhere. Who's gone into the night with the money? Will they get away with it?

[spectoacc] 15/2/2023 08:09

LOL fair point.

[tradez4dayz] 15/2/2023 08:08

They didn't say which February!

[spectoacc] 15/2/2023 07:29

"...Will provide a further update to the market by mid-February..."

Did I miss it? Yesterday was mid-February, tho had to check I hadn't missed a leap year.

AGM next Monday, coincidentally the day HOME's latest 20-day trading suspension is meant to end.

Still no sign of the accounts, and tbh what chance Simpact Group having checked thousands of properties in a month. But still - why make a rod for your own back by stating "by mid-February" in the first place.

[tradez4dayz] 13/2/2023 12:37

https://www.cityam.com/home-reits-top-tenant-looking-to-offload-leases-as-cash-troubles-continue/

[spectoacc] 07/2/2023 12:49

Lol @Wc104

[williamcooper104] 07/2/2023 11:47

Actually a pretty good article for the Guardian - not a "they're all evil capitalists" rant Agree - doesn't tell us anything we don't know Other than those aren't the photos used in HOMEs annual report

[spectoacc] 07/2/2023 10:26

Thanks @Biffa58 - I spoke too soon then. Not a lot new in there but just look at those pictures.

Key thing will be the court case to recover rents - and whether HOME is party to the deal with the developer:

“We’ve been promised an amount of money that hasn’t been delivered. We pay for refurbishments as best as we can, but we can’t pay for everything. Tenants are living in substandard accommodation.”;


Wonder what all the ESG investors will do if/when HOME relists.


Nice to see someone else pick up on Simpact Group at least:

"However, the appointment of Simpact has raised eyebrows. Simpact is run by its founder and chief executive Joseph Kahan, 31, and says it manages a social housing portfolio in England and Wales across more than 100 local authorities. It declined to provide further details on its portfolio. Simpact is the trading name of Krea Group Ltd, a company estabished a year ago that has one director, Kahan, and has yet to file accounts..."

Or rather, nick my research :)

[biffa58] 07/2/2023 10:12

Grauniad article

Looks very messy

[williamcooper104] 07/2/2023 08:18

There's not going to be a material recovery until Alverium go

[lucidlips] 07/2/2023 07:57

In complete agreement with Wallywoo. Huge amount of tenant posturing going on currently. Every expectation that this will relist, using even back of bus ticket estimates, at in excess of 50p. There are some fundamental cornerstones of strength here. For sure, some financial crack monitoring has been deemed necessary, but this fund is underpinned by some comfortably robust principles - meanwhile one receives 14+% returns for the superficial discomfort.

[wallywoo] 06/2/2023 09:13

Lol, just have left you guys to it. There's no share price to influence. Still firmly believe that this will be trading at 50+, when they relist. It doesn't really matter what flack is raised, this has a base core value. It's a bit like any landlord, you may have house repair and tenant issues temporarily but they have a core value.

[spectoacc] 05/2/2023 19:58

Have we just gone a week with no new bombshell allegations? @wallywoo will be pleased.

[js53] 03/2/2023 07:49

Simon Lee’s photo and biog (as Head of Public Real Estate) appears to have been disappeared from the alti-global web-site. Was on there previously. Maybe a mistake...

While I think of it, Mrs Lee acquired a few social housing properties from sellers in the early days of Home Long Income Fund. Assuming that would have been at full value and all above board...

[trcml] 01/2/2023 17:26

"Huge credit to VR for being largely right from the start."
And some credit for yours truly for my overall assessment*, despite being told off!

* 12 Dec '22 - 12:05 - 562 of 800

[nexusltd] 30/1/2023 11:26

RNS Update on Corporate Brokers: VH Global Sustainable Energy Opportunities plc (the "Company") announces that Alvarium Securities Limited is no longer acting as joint corporate broker to the Company. Numis continues in its role as broker to the Company.

LXi next?

[williamcooper104] 29/1/2023 20:30

Alvarium investigates Alvarium

[spectoacc] 29/1/2023 20:01

Strewth.

"[HOME has} begun an internal investigation into payments made to a previously undisclosed third party as part of deals where the Home REIT appears to have significantly overpaid for rundown housing stock."


They don't say. Plenty above on the Peterlee portfolio.

Huge credit to VR for being largely right from the start.

[williamcooper104] 28/1/2023 15:16

Just a fraud investigation https://www.cityam.com/exclusive-home-reit-property-deals-examined-by-uk-crime-agency/Board needs a forensic investigation and of course to terminate Alverium

[tradez4dayz] 27/1/2023 10:42

Just reread the rns,The final line saying no resolutions will be raised.Does this mean the directors just get a free pass on reelection, underhand at the least