The Local Shopping Reit Share Discussion Threads

[redhill9] 16/3/2015 16:25

Thanks envirovision, it appears he must have bought or otherwise acquired some more at some point.

It is quite reassuring that Whateley still owns so many shares considering he knows (or knew) LSR better than anyone, and the strange circumstances of his leaving.

[badtime] 16/3/2015 16:06

The ask got dropped to 30.5 and immediately got buyers

[envirovision] 16/3/2015 13:47

This confirms my info:

[redhill9] 16/3/2015 10:38

I have a note that Whateley held 7.6m shares 12 months ago, whereas your 9.81% equates to 9.0m shares based on total shares issued, or 8.1m based on shares net of those held in treasury.

Has he bought more? That would be very odd I think based on his abrupt departure "with immediate effect" from the company in October.

[envirovision] 16/3/2015 09:10

Nick Vetch holds 3.48% here, also John Grahame Whateley 9.81%

[badtime] 04/3/2015 15:05

As if u would have taken any notice of what teacher said :)

[envirovision] 04/3/2015 14:33

bt what happened in the end, teacher wouldn't let me out :(

[badtime] 04/3/2015 14:04

All resolutions passed

[badtime] 03/3/2015 16:06

Excellent still time for enviro to miss class and attend

[nk104] 03/3/2015 15:53

Think the AGM is tomorrow.

[badtime] 03/3/2015 14:22

Your mean you didn't go!!!!! Sigh

[envirovision] 03/3/2015 12:51

Did anyone drop in for the annual tea and biscuits meetup with the top bods?

[spittingbarrel] 25/2/2015 16:30

That's what I thought when I put in a cheeky 31 bid…

[skyship] 25/2/2015 16:28

Cheapest offer now 31.5p...

[spittingbarrel] 25/2/2015 16:16

I just bid 31 for a small amount and got hit instantly, clearly there's a decent seller around.

[gfrae] 25/2/2015 10:27

The £16m is being used to reduce net debt,for some reason it is being held by LSR against an equivalent borrowing.

[redhill9] 25/2/2015 09:21

You clearly haven't read previous posts - I said if they can't use the surplus cash to reduce debt then they should distribute it to shareholders.

LSR is in a liquidation procedure so your comment about the yield it was previously earning is irrelevant to that procedure. Of course cash held won't be earning the yield it was attracting as you helpfully indicate in your post 1016.

In liquidation two things matter:
1. How much cash the assets can be sold for.
and
2. How quickly that cash can be distributed to shareholders.

Hopefully we agree on that.

[gfrae] 25/2/2015 09:20

Debt is 55% odd of NAV net of £16m in cash.
They can't do anything-except continue to market Renouvier or it's assets.

[eeza] 24/2/2015 23:54

Eh???

I'm saying they're sitting on the money now that the assets have been sold & that money is now earning SFA. Instead of swanning about with it on his hip - how about returning it to its rightful owners - you know, the long suffering s/hlders. The same ones that the BOD here treat with naked contempt.

Of course you may be quite happy for the BOD to hold on to it and have the drag on earnings. Each to their own.

[redhill9] 24/2/2015 23:02

So you're saying LSR were wrong to sell the properties under Minard? Really?

The issue is use of the money once the assets are realised, not the yield they were earning before the properties were sold.

[eeza] 24/2/2015 18:20

Either way it's earning SFA now vs the yield it was attracting.

[redhill9] 24/2/2015 17:42

No, I don't think that's correct. The current cash held is mainly the net result of selling the subsidiaries (Minard) last year, where properties and associated Barclays loans were sold together. The remaining properties (Renouvier) are also in subsidiaries which hold the associated HSBC financing but the cash currently held (or the great majority of it anyway) is separate to the residual subsidiaries and therefore unlinked to the HSBC loans - please explain if you think I've got that wrong.