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HCP Hotel Corp

16.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Hotel Corp HCP London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 16.50 00:00:00
Open Price Low Price High Price Close Price Previous Close
16.50 16.50
more quote information »

Hotel Corp HCP Dividends History

No dividends issued between 29 Mar 2014 and 29 Mar 2024

Top Dividend Posts

Top Posts
Posted at 05/2/2016 13:20 by hedgehog 100
Hedgehog 100 30 Jan'16 - 19:19 - 1039 of 1055 0 0 edit
"... RJ,
Barcelo was managing the hotels during the share price collapse from 2007 - 2012, not Puma: ... "

Hedgehog 100 30 Jan'16 - 19:34 - 1040 of 1055 0 0 edit
"Also, RJ, note the division of responsibility here.
Puma will be responsible for executing the investment strategy and investment decisions made by the board, as distinct from actually determining the strategy itself: ... "


EDF,

RJ Allen and myself were talking about Puma, not Shore Capital.
Please refer to the following two post extracts above.

Puma is just a subsidiary of Shore Capital.

For SIP (the renamed HCP), SIP's board sets the strategy, and Puma will manage its implementation.
So Shore Capital itself won't be directly involved in those aspects.
They should be involved in fundraising, but that's different.

In any case, most of your material in post 1053 above is either about Puma, or about Shore Capital fundraising for HCP.
There's nothing explicitly about Shore Capital itself setting the strategy.

But even if there was, and even if Shore Capital was setting the new strategy for SIP, that doesn't mean that the new SIP strategy would be wrong.
The new strategy should be judged on its merits, and it looks very good to me.

Also note that HCP's strategy was initially very successful for the first two and a half years, when the share price more than trebled, before being derailed by the credit crunch.

SIP certainly looks to have that sort of upside potential to me, and without the downside of many speculative technology and resource plays.

In HCP's past the wrong strategy for the coming credit crunch was perfectly executed.
So if Puma can now perfectly execute the RIGHT (or REIT) strategy, then SIP should be a sustained success.
Posted at 03/2/2016 17:16 by evil_doctor_facilier
You said
'The very generous open offer allowance was a courtesy for those investors who did wish to take advantage of such a good opportunity."

Surely 'anyone' (rights holder or not) could just buy in the open market cheaper? So anyone who has not already lost 99% of their capital ,can buy in cheaper! Some generous and courteous gesture that is?



Hedgehog, Shore Capital was responsible for HCP from conception to demise.
I am totality at a loss to understand how or why you seem to make Shore Capital blameless for the loss to shareholders here.

For anyone not understanding the full picture here ,i have put together a list of events that clearly show Shore capital's role in HCP from the very start in forming HCP to therm farming out the management of the hotels to barcelo.


The Hotel Corp PLC (“HCP”) was formed by Shore capital and Dawney shores Hotels (“DSH”) with an objective of being an investment company to invest directly into “DSH” acquisition of the Paramount chain of hotels (“Paramount221;) from Alchemy Partners

“DSH” was also a vehicle established by Shore Capital and “DHS” with a stated objective of acquiring a substantial chain of four star British regional hotels.

Shore Capital managed “DSH” in partnership with Dawnay, Day Hotels Limited ("DDHL") charging management fees for this service.

The consideration for the acquisition of “ParamountR21; was £215m, financed through private equity raised by Shore Capital and senior debt provided by Anglo Irish Bank.

“HCP” was listed on AIM July 2004.
Shore Capital and Corporate Limited acted as The Hotel Corporation plc's nominated adviser and broker.

Shore Capital raised £22m through the placing of 22 million ordinary shares at £1 per “HCP”
share
“HCP” then subscribed £21.7 million towards the acquisition of “ParamountR21; by “DHS”.

“HCP” through Shore Capital raised an additional £13.25 million through the placing of 13.5 million ordinary shares at £1 per “HCP2” share in in December 2014.
“HCP” also subscribed for further investment in “DSH” in December February 2005 respectively, bringing “HCP” investment in “DSH” to £33,670,000.

As a result of these subscription, the Company held 49.9 per cent of the issued share capital of Shore Capital’s managed and part owned “DSH” investment vehicle.
All of the “HCP” capital invested in “DHS ” was raised by Shore Capital.

“DSH” announced in December 2006 that it was undertake a strategic review aimed at maximising shareholder value”.
In August 2007 upon the completion of the strategic review, “DSH” entered into a lease and management agreement with regards Paramount Hotels, with with Barcelo Group ("Barcelo")
“DHS” announced that it “planned to unlock value by increasing gearing and returning capital to investors”

Howard Shore, Shore Capital's chairman and a DSH director, commented on the deal said:

"We are delighted to have concluded this value enhancing transaction after a careful review of all the options. As a result, shareholders will be able to crystallise the benefits of their investment whilst continuing to benefit from significant real estate potential."

July 2008, “DHS” informs “HCP” that the management of “DHS” has today terminated the engagement of "DDHL" under the Portfolio Management Agreement and had engaged Shore Capital Limited to provide the services
Howard Shore of shore capital was appointed chairman of ”DHS”

In September 2008 HCP announced a NAV of 239p per “HCP” share in it’s interim results along with the announcement that “DSH” had changed its name to Puma Hotels PLC. (“Puma”)

May 2009, “Puma” announced that Anglo Irish bank had reduced “Puma” senior debt facility by £20 million from £350 milion to £330 million and senior debt at “Puma” stood at £347.2 million.

June 2009 “HCP” raised £12.6 million disapplying share holders pre-emptive rights by placing 15. 2 million new “HCP” shares facilitated by Shore Capital stockbrokers Ltd, primarily to invest into Pumas £20 million equity raising to repay Anglo Irish bank.



November 2011. The board of “Puma” including Mr Howard shore inform “HCP” that ("Barcelo") are proposing revised rental and other terms for the hotels. Moreover, that unless a revision to the leases is agreed between the parties, BCE is intending to withdraw financial support from its UK hotels business, Barcelo UK.

April 2012 the directors of Puma Hotels informed “HCP” that “Puma” has signed a business transfer agreement providing for the early termination of leases with “Barcelo”;
JULY 13 "Puma" announces that it has successfully completed the extension of its GBP323 million senior debt facility with Irish Bank Resolution Corporation in Special Liquidation ("IBRC").
Following the debt purchase, “Puma” re branded itself as UK Group of Hotels plc

Aug 2014 as joint administrators appointed of UK Group of Hotels plc (formerly Puma Hotels plc),The Company's investment in UK Group of Hotels plc was fully written down to GBPNil in the accounts of the Company as at 31 December 2013.
Posted at 02/2/2016 17:52 by hedgehog 100
The mainstream care home sector has seen strong institutional investor interest recently, and HCP-SIP's more specialised focus looks to be ahead of the curve.
With good scope to build a sizeable property portfolio in this area relatively cheaply, before institutions start bidding prices up.

Moreover, unlike the shares bought by an investment trust, HCP-SIP's investments will not be buyable elsewhere.

And to buy similar investments directly would be financially onerous for most retail investors, and without the liquidity of owning shares in a listed company.

Shares are often temporarily weak at the time of a fundraising, as with HCP at 0.825p, but that can often present a good buying opportunity, as in this case.
Posted at 02/2/2016 17:25 by hedgehog 100
It's also important to note that HCP-SIP will be undertaking an element of actual property development (with its increased scope for value-creation), as opposed to just buying 'completed' facilities for its purposes:

"Initial Programme
... Two of the properties are already in operation as care facilities for children and available as sale-and-leaseback opportunities while the two other properties would be open market purchases of standard homes for conversion. The adaptation work required is modest with a subsequent local authority compliance check prior to receipt of a designated change of use."

I.e. HCP-SIP will be more of an active business than an investment trust is.


And HCP-SIP's investing policy focus has shades of how Duncan Bannatyne built a large part of his initial fortune:
"The initial and primary focus is to make investments in purpose-built homes for adults with learning difficulties requiring support from carers (for example adults with autism), purpose-built care homes for the elderly and infirm and converted dwellings accommodating young adults/late teens requiring extensive support from social services."

Duncan Bannatyne:
"Net worth £175 million"
"He eventually sold the business for £28,000, founding a nursing home business called Quality Care Homes which he then sold for £26 million[7] in 1997 and children's nursery chain Just Learning for £12 million.[9]"
Posted at 01/2/2016 21:14 by hedgehog 100
HCP (currently 0.825p mid) looks to have attractive potential in both the short, medium, and longer terms:

1. SHORT TERM.

• Currently looks to be returning back up the the fundraising price of 1p, and a slight premium to post-fundraising cash of circa 0.9p per share.

• Active positive February newsflow: 20:1 share price consolidation and name change to Specialist Investment Properties (both 8 February), and news re. completion of the fundraising.

2. SHORT/MEDIUM TERM.

• Strong positive newsflow as the company executes its initial property investment programme during March - June.

• Follow-up company development: larger fundraising(s), and further acquisitions.

Dividend policy: "The Company is targeting a dividend yield of seven per cent. per annum, and your Board expects to pay the first dividend in Q1 2017."

3. MEDIUM/LONGER TERM.

• Growth in dividends.

• Capital growth: " ... these properties can offer attractive returns on equity and the prospect of medium term capital growth as the chosen specific property category grows and becomes better appreciated by mainstream property investors."

• Move to increased rating as the company grows, develops a track-record in its new sub-sector, and becomes more widely-appreciated by the market.
Posted at 01/2/2016 20:42 by hedgehog 100
Compare HCP to another former shell, PPG (Plutus Powergen):



PPG has been popular with retail investors, and quadrupled in a year.

But PPG looks to have significantly bigger risks than HCP, while having just comparable upside.
Posted at 01/2/2016 18:40 by hedgehog 100
EDF,

There's a difference between advising on the technical aspects of a strategy that you are asked to execute, as opposed to determining that strategy itself.

And in any case, hindsight is a wonderful thing, and many people did not see the credit crunch coming.

But the new, defensive strategy suggests that insiders here have learnt that the previous strategy was too risky. I'm glad that that lesson has already been learnt, as it decreases the chances of a similar mistake being made in the future.

With regard to the level of cash after the current fundraising (£2.3 - £2.8M. depending upon the level of subscription, but probably at or close to £2.8M.), this is just the start.

From page 15 of the Circular (section 2.3):

"2.3 Initial Programme

The Property Investment Adviser has initially identified four properties for the Company to look to acquire. ...

The Property Investment Adviser has additionally identified a pipeline of similar transactions which it will introduce to the Company for the Company to seek to execute within two to three months of the close of the Capital Raising. The Property Investment Adviser would then aim to identify further acquisitions which would be part financed through raising further equity in a larger fundraising or raisings."



Shore Capital has raised hundreds of millions of pounds, so they're well-place to deliver the desired funds here.

Especially with the resources and tech sectors being avoided by many investors at present due to global market concerns, and people seeking safer, domestic plays.

The aim will doubtless be to 'get bigger fast', to reduce the percentage of fixed costs.

And in the meantime, Puma is waiving some of its fees for 2016 (see section 2.10 of the Circular), and there will be strong positive newsflow.


Similar costs concerns were raised with respect to FFWD, but that has addressed them by 'getting bigger fast' over the last few months, and its share price performance has been strong.

Indeed FFWD's placing last week was at a premium to the market price, as is HCP's current fundraising (including from the time it was announced), which is comparatively rare for AIM.


There's an ideal size from which a company like this can become a multi-bagger: too small, and fixed costs become too burdensome; whereas too big, and there can be insufficient quality opportunities in a chosen niche.

£10 - £15M. is probably the ideal early-stage starting point, and with more fundraising HCP-SIP looks well-placed to approach or even reach that very quickly.
Posted at 01/2/2016 17:11 by evil_doctor_facilier
Hedgehog ;- Who do think advised on the deal with hcp and Barcelo in 2007?
Is it not the case that it was shore capital's formed Dawney shores hotels who arranged the lease and management deal with for Barceleo?
Dawney shores was a vehicle formed by Shore Capital.

This from Howard shore, shore capitals chairman at the time of the transaction with Barceleo...... "We are delighted to have concluded this value enhancing transaction after a careful review of all the options"

Also Shore capital directly had control and responsibility for the portfolio management agreement from July 2008.

If you are trying to somehow suggest Shore capital had nothing to do with the decisions and actions that gave way to total destruction of over 45 million pounds that was invested into HCP then i would very much beg to differ.

Still in anyone want to yet again pay them to have a second chance after the first diabolical attempt then that's their prerogative.
bases on the performance of the last attempt . Personally i would not trust them to run a car boot stall.


How is this new investment strategy ever going to make shareholders any cash? it is so small scale that surely once you have yet again paid the fee's to Shore the wages to the two board members and then the plc running costs what rate of return would be needed to have a crumb left over for shareholders?
40-50%??? who are theses guys warren buffet on drugs?


Lets looks at last years admin costs alone of 144k that right there is 7.5% of any gain of the properties investment gone before you start. That is before the fee's paid to Shore for managing the properties.

Its a stone cold avoid at all costs, the business will never generate enough % to cover all the above costs with just 2 million to invest in property.
Posted at 30/1/2016 19:34 by hedgehog 100
Also, RJ, note the division of responsibility here.

Puma will be responsible for executing the investment strategy and investment decisions made by the board, as distinct from actually determining the strategy itself:

15/01/2016 07:00 UKREG Hotel Corp (The) PLC Placing & Open Offer and Notice of EGM

"2.5 Property Investment and Management

The Company intends to adopt a conventional offshore real estate investment trust REIT like structure. The Board will be responsible for approving the investment strategy, making investments, monitoring performance, determining dividends, organising accounting, company administration and reporting to Shareholders. The sourcing, evaluating, structuring and negotiation of the investments will be delegated to the Property Investment Adviser under a property investment advisory agreement. The Property Investment Adviser will also be responsible for monitoring of the investments, organising property administration and rent collection."




So if the strategy is wrong (e.g. being heavily indebted in a cyclical sub-sector at the top of the market), then that is not Puma's responsibility, and there's no reason to believe that Puma are not very efficient and effective in their area of operation.


In terms of the new strategy, it looks to be bang on the money: a defensive niche, undervalued, with excellent growth potential.
And with a sensible level of gearing (70%) to increase returns.

My opinion is that shareholders have come up trumps here, and that an investment in HCP could now be an absolute cracker: especially from the current depressed level of 0.75p.
Posted at 01/9/2015 09:38 by debbie_does_dallas_twice
"Anyone feel the company has made a decent case to vote against the requisition?"

What and support the management and shore capital? ( Shore Capital are the shareholder whose proposal apparently have the board baking)
The very same partnership that got HCP into this mess in the first place?

Shore capital formed HCP to invest into Shore capitals own hotel investment vehicle Dawney hotels.

Shore capital was HCP nomad and broker when HCP invested into shore capital's part owned and part managed Dawney hotels chain (HCP only investment ).

Shore capital raised via placings more money by issuing HCP shares ALL OF WHICH WAS INVESTED IN SHORE CAPITALS PART OWNED DAWNEY HOTELS.

Shore capital was instrumental in the deal with Barcelo group that took over lease and management of the Dawney hotels (PUMA)
Barclo later abruptly ended this contact sending the company into a death spiral

Shore capital had a huge part in the running up of 347 million debt in Dawney hotels (Puma) with Anglo Irish bank of which was later called in by Bank Resolution corporation and put Dawney hotels (Puma) into ADMINISTRATION wiping out all HCP assets in one swoop.

So i guess what i am trying to say is Nick.
Are you f''king Serious???

aimho

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