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LSR The Local Shopping Reit Plc

20.30
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
The Local Shopping Reit Plc LSE:LSR London Ordinary Share GB00B1VS7G47 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 20.30 20.20 21.00 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

The Local Shopping Reit Share Discussion Threads

Showing 2951 to 2974 of 3525 messages
Chat Pages: Latest  129  128  127  126  125  124  123  122  121  120  119  118  Older
DateSubjectAuthorDiscuss
18/12/2018
18:16
Thalassa is run for Duncan Soukup and close associates only in my view. The preference share debacle is the height of poor corporate governance and an attack on minority shareholders. It quite frankly is disgraceful and the NOMAD should have resigned. Whatever the net asset value is or isn’t is irrelevant as it will soon be controlled by him, and other shareholders won’t get a dividend or an exit anywhere near NAV. Same will happen at LSR unless the board can fend him off. Good luck.
topvest
18/12/2018
13:11
thanks for the clarification on that gfrae
frazboy
18/12/2018
11:30
Thx missed that gfrae, agree now on 150p
hindsight
18/12/2018
11:23
Duncan Soukup, Chairman of Thalassa, said: "I am happy to report that the receipt of the second payment of $0.6 million triggers the final payment of $4.8 million due 11 September 2019, which the Company will now recognise as a receivable. As a result, the Company's Book Value of c.$29 million (as at 30 June 2018) will increase by $6m to c.$35m. The Company's cash balance as of today is little changed from the c.$18.5 million announced 23 October 2018."

I think that this equates to 150 plus.

gfrae
18/12/2018
11:09
Last published nav I could see was 114p at 30th June so same ballpark discount to lsr if allow some optionality for lsr directors finding another route
hindsight
18/12/2018
11:03
Nicholasblake - any views on the options the board has?
frazboy
18/12/2018
10:44
No 75%, but can only pay dividends out of accumulated profits, of which LSR has little.
nicholasblake
18/12/2018
10:34
frazboy, I think that the discount at Thal is still much greater, with their NAV at 140 or more.
If LSR were to distribute proceeds as a dividend, would they still require a 75% majority to do so,does anyone know ?

gfrae
18/12/2018
10:11
I wonder when we will get an update. Meanwhile, of course, the shares are dropping - the Duncan discount is comparable with the difference between NAV at a Thalassa and Market Cap, that should at least minimise the downside from here
frazboy
12/12/2018
19:54
I would have thought there has been quite a lot to do, so the £90k is fine. It's all the other costs that raise the eyebrows!
topvest
12/12/2018
19:51
Who exactly are these managers? And what are they now managing? The directors were paid £90k in total last year
frazboy
12/12/2018
18:56
Management won't be at all worried how long it takes, as long as the money holds out to keep paying their ill-begotten remunerations.
eeza
12/12/2018
18:29
38% against, but pretty much only Thalassa voting against. It’s going to take a long time to get this mess sorted out. You can’t do a good deal with a bad person.
topvest
12/12/2018
16:09
I made the same mistake as the directors Tilton! The statement does infer that they will be consulted but it could well be just lip service
frazboy
12/12/2018
15:27
I look forward to seeing THAL plan also...
tiltonboy
12/12/2018
15:10
blocked by DS et al. I look forward to seeing the board's forward plan.
frazboy
12/12/2018
15:08
no delisting
spob
12/12/2018
14:29
anyone at the meeting want to report back?
frazboy
11/12/2018
20:16
Maybe maybe not. Be interesting to see how tomorrow goes. Any sniff of dodgy ethics and its better to get out in my view. You can never do a good deal with a bad person to roughly quote Buffett!
topvest
11/12/2018
07:45
Thalassa can only buy to 30%. The issue isn't them buying on the cheap. Rather it's how they would invest the cash were they to get control.
nicholasblake
10/12/2018
21:07
Decision to sell vindicated, I think, Topvest.
eeza
10/12/2018
13:08
It wasn't that clear to me on the delisting point and pretty shambolic that the circular does not make this very clear given that it was the most likely outcome, known in advance by the board. Anyway, I'm happy to be out. Cost me double commission to do a T+1, which I wouldn't have had to do if the circular was clear. Think c30p is a good exit in the circumstances as this is going to drag on and on. 33p if Thalassa change their minds at the vote (very unlikely). Less than 30p if it all goes legal. Good luck to those that remain.

p.s. The results were truly awful. £2.5m of property outgoings (on £3.4m of rental income) defies belief. Particularly when there is £1.5m administrative expenses on top and then massive disposal losses on top of that. The costs of running this company off have been truly eye watering! They spent £993k on repairs alone before selling the properties at a massive loss.

topvest
10/12/2018
12:02
As the RNS states.

"Subject to approval of the appointment of liquidators and the voluntary liquidation of Local Shopping Reit (UK, constituent), please see details of affected indexes and effective dates below:"

The MVL needs to be approved for the shares to be de-listed.

Also, from LSR's own RNS.

"Net Realisable Value

In the announcement published on 11 October 2018, we provided a range for the Company's net realisable value of between 33.0 and 34.5 pence per share. As a result of auction sales performance and market trends since then we anticipate that the distribution is likely to be at the lower end of that range. The final amount will be determined by the sales of the residual property assets and the outcome of the general meeting referred to below."

So 33p it is then.

I think the current board will be more than happy with Soukup's foot dragging. If they play their cards right, they might get another year out of this and the 33p distribution will be more like 30p.

tabhair
10/12/2018
11:49
my reading too, hindsight
frazboy
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