The Local Shopping Reit Share Discussion Threads

[hillofwad] 11/9/2016 10:42

Grahame lives in a lovely Queen Anne house in the Worcestershire countryside .Not fond of walkers using a public rights of way across his land !!.Likeable but always likes to keep all the prizes . Amusingng story to give you the measure of the man is he paid the local molecatcher one year to deal with a mole problem on his lawn.Job done moles eradciated and Grahame divied up The catcher came again next year dealt with the problem and when asking Grahame for payment he was told not paying you a penny as they came back!!

If he has sold he would have extracted the best possible price.If he hasnt I will take the lead as moreto come!

[tiltonboy] 11/9/2016 10:22

I left a order to sell 2.1m on Friday at 34p, but I'm now inclined to see how it unravels, especially if there is another buyer in the market.

Might try and pick a few cheap one's up if there are any around.

[hillofwad] 11/9/2016 10:05

Good at least this now unravelling and matbe on its way out soon crystalliisng shareholder value Cant see 40p as not leaving enough juice in the portfolio for abreakup but 35p +looks hopeful Surpised that the BODS havent been more proactive in disposing of the portfolio.All the shops typical Allsops auction fodder which are achieving decent prices at auction .If Grahame Whately has sold surprised he hadnt hooverd up more shares earlier and taken it private . Always known as fighting you for the last penny and is a deal junkie

[8w] 10/9/2016 14:42

I'm hoping to get approaching 40p on my LSR holding, I seem to remember that being a realistic target an age ago. My danger is just wanting to end the pain/boredom and cashing out on first positive price action.

[tiltonboy] 10/9/2016 11:58

From reading the THAL board it looks like he is a maverick entrepreneur. It is a decent sized bet for them, so hopefully they have a plan!

I initially thought the 6m trade was THAL buying more, but I understand it is a new buyer.

Intriguing. Think I will stay put for the time being.

[ntv] 10/9/2016 10:00

seems wierd for an oil services company to buy a stake in a property co like lsr.
presume he is going to lean on them to sell up to get the cash once he has 29.99%
that won't be long at this rate.
or will it be, sell the oil services co and and change of direction to mop up other lowly rated property companies that are standing at big discounts
interesting anyway as we have a small stake here

[strathroyal] 10/9/2016 09:59

DIL2 are of course looking to wind up so they may have sold some of their 20M.

Will be interesting to see if you are correct about the 6M not being a THAL buy. I see that Conygar have recently cancelled their share premium account to increase their distributable reserves and they had a decent shareholding here at one time. Also Duncan Soukup has somewhat tenuous links to Oryx, albeit some years back, and Christopher Mills continues to be a very activist investor.

Anyway, hopefully this will shorten the wait for a resolution. On a slightly different topic, details of the properties entered in the next Allsop auction will be available on the 17th.

[tiltonboy] 09/9/2016 22:35

Looking at the shareholdings, I would guess that Whateley has sold, but where have the others come from?

[tiltonboy] 09/9/2016 15:03

THAL have picked up another 6m. It will be interesting to see what their game plan is!

[holts] 09/9/2016 14:30

Only took a minute

[holts] 09/9/2016 14:14

It's been like watching paint dry , some rapid action would be most welcome .

[tiltonboy] 09/9/2016 13:57

Somebody just threw 50k away at 30.5p. They are at least a penny better bid than that in size. I'm told the buyer has more to do, so I'm trying to help him along the way.

Anybody want to sell at 30.5p come and see me!

[my retirement fund] 09/9/2016 09:44

I wasnt having a pop at you you may do better than me holding your nerve for another year or what ever, i'm afraid i've somewhat lost confidence in the board.

You seem to have a habit of finding them with self serving greedy ways perhaps thats why they all appear so undervalued :)

[redhill9] 09/9/2016 08:47

I wrote recently that I would sell for 32p. I've just changed my mind.

[skyship] 09/9/2016 08:31

MRF - pleased to read you've made a profit here; & I don't mind being branded a sadomasochist if I can continue to make profits in this one - how ever the long and winding road it may be...

[my retirement fund] 09/9/2016 08:21

They will probably take it out for 36p eventually as a guess. Im out now btw. Not hanging round for this long drawn out shananigans. Been far too painful as it is just pleased to have a profit.What a ride sadomasics only imo

[langland] 09/9/2016 08:02

What a bizarre transaction.....paying over 34p per share.

[spob] 09/9/2016 07:56

interesting

[masurenguy] 09/9/2016 07:17

Acquisition of ordinary shares in The Local Shopping REIT plc ("LSR")

Thalassa Holdings Ltd, a holding company currently with subsidiaries in the Energy Services and Defence and Homeland Security Industries is pleased to announce that it acquired yesterday 10,438,376 ordinary shares ("LSR Shares") in The Local Shopping REIT plc ("LSR") at an aggregate cost of approximately £3.6 million. As a result, it is now beneficially interested in 12,868,376 LSR Shares, which represents 15.559 per cent of the issued share capital of LSR.

[badtime] 07/9/2016 19:15

Someone took 200k

[redhill9] 01/9/2016 18:50

Good initiative Skyship. Thankyou.

[skyship] 01/9/2016 18:31

Having made contact, I put the below to him. If anyone out there has a long memory, post whether it was indeed Joseph Maxwell.
=================================================

Hi Rupert - thnx for the reply & I look forward to hearing the view of the NEDs
regarding the recommencement of IMSs.

On another matter, I would like to ask whether you have considered Maxwell
Joseph's excellent solution to difficulties with a portfolio sale,

NB: I think it was MJ when he had a surplus portfolio from a Grand Metropolitan
acquisition, though it could have been the Berger family with an acquisition by
Reliable Properties (no longer listed!). I held both at the time - but too long
ago to remember who was the master tactician.

Anyway, whoever, it was a great idea....& it worked.

With their acquisition came 3 small trading estates; mainly lock-ups at the back
& small retailers at the front, with flats over. He knew he could easily sell a few plums such as one let to a bank and others on long lets to building societies and bookmakers. He knew he would struggle to sell the lock-ups.

What he did was to drop the top 10%; & most crucially drop the bottom 10%. He
then marketed as a portfolio the middle 80%. The few buyers interested were not
then deterred by the problem of the bottom 10%. Two buyers got into an auction
and the sale was conducted at a highly satisfactory price. The rump at the bottom
was kicked out on a massive yield just to get rid of it; but the sum involved was so small it was irrelevant - JOB DONE!

SO:

As it has to be considered unlikely thst another Canadian pension fund is about to
kick down your door to buy the 50% balance of the initial portfolio - it is time for INTERNOS to get a little bit more imaginative - that is why after all we are paying you £1m+ per annum.

There are two ways forward:

1. Try the Joseph method

2. Bring in another specialist property advisor and start making individual property sales. It is not as difficult as INTERNOS have tried to make out...; but it does require a little more manpower...

I hope this may help.

As you have not yet tried the Joseph method, could you please seek out the oldest
property expert in your operation and ask him to comment.

Thanks

[skyship] 01/9/2016 18:26

Our Internos manager Steve Faber left 4months ago - moved on to a private propco. Replaced by Rupert Wallman.

I asked him two things the other day:

1. Why no Interim Management Statements

2. Why no "Holdings" BUY RNS following the sale of 5% by Schroders.

He replied:

The decision was taken to suspend interim management statements during the marketing of the remaining property portfolio. During this period most relevant information would have been of a price sensitive and confidential nature, so there was little to disclose. Furthermore, and as you may appreciate, it is very troublesome to sell individual assets from a portfolio you are marketing as a whole (the change in composition creates continual pricing discussions), hence the slowdown of individual sales.

I do understand your desire for more frequent information on the company and would be happy to raise the issue of the recommencement of the management statements with the non-executive directors at our next board meeting towards the end of Sept.

In regards to the Schroders disposal, we have not received notice from any investor stating they have crossed over a threshold which means they are bound to inform us (3%, and each percent thereafter), hence no corresponding RNS. If for instance the shareholding were split 50-50 between two new shareholders, neither would be bound to inform us, both being below the 3%.

I will let you know what the decision is in regards to the management statements.

[badtime] 01/9/2016 14:34

And it goes quiet