Share Name Share Symbol Market Type Share ISIN Share Description
Lxb Retail LSE:LXB London Ordinary Share JE00B4MFKH73 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.25p +0.84% 30.125p 30.00p 30.25p 30.00p 30.00p 30.00p 63,612 16:35:14
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 85.2 -15.1 -8.9 - 51.92

Lxb Retail Share Discussion Threads

Showing 1526 to 1550 of 1550 messages
Chat Pages: 62  61  60  59  58  57  56  55  54  53  52  51  Older
DateSubjectAuthorDiscuss
14/7/2017
13:56
I have a lot of skin in the game. Yes, I did ask the Chairman the questions, but he accused me of 'emotive and personal challenges' and refused to answer my questions or communicate with me any further. Personally I think the questions I asked were to hard for him to answer. The Non-Executive directors will all resign later this year and the remaining assets will be transferred to an AIM (UK) listed entity. It is at this stage that I'm really worried that the fund manager will insist on a new performance incentive and management fees and a lot of value will be transferred from the shareholders to the fund manager. The share price should have been way up after the good news re Rushden Lakes, but the share price is now the same as before the news. For me it shows that the market has lost faith in the fund manager & Board and sees the potential transfer of wealth from the shareholders to the fund manager as a significant risk.
npt
14/7/2017
13:41
So do you email him back with those questions?I assume you still have some skin in the game?
badtime
14/7/2017
11:05
Managers income in the years ending 31st March: 2016 £4,630k 2017 £4,300k 2018 £1,700 (increased by 700k)* 2019 £1,100 (increased by 100k)* * increased from the previously indicated amounts as a direct consequence of the greater workload and resources needed to drive shareholder value over a longer period of time. The above was taken from an email to me by Phil Wrigley. The management fees is £1,7m for 2018 and £1,1m for 2018. This is high because the Directors increased the fund management fees to the fund manager above what the fund management agreement specified. I have a question that has been on my mind. Remaining assets will be transferred to a UK listed company later this/beginning of next. Do the management fees for 2018 & 2019 cover the management of the existing fund to termination and the new company or just the run-off of the existing fund? Or will the fund manager be allowed to charge an additional management fee for the management of the new company on top of the existing fees for 2018 and 2019? The fund management fees were originally based on the NAV of the fund, so it will be utterly wrong if they get management fees for the old fund and also fees for the new company. It is tantamount to charging management fees twice on the same asset. I also would like to know if a new performance incentive for the fund manager will be attached to managing the new company. The fund manager did not achieve the performance targets in the existing fund, so it will be very interesting to see if the fund manager will use the creation of the new company as an opportunity to put a new performance target in place (as well as increased management fees). I mentioned in previous posts that the Newham Farm asset will not be marketed or sold because the fund manager wants it as a seed asset for the Living Villages concept. It has been communicated by LXB that this asset will be transferred to the new company. What are the plans with this asset? I thought assets were supposed to be sold and funds returned to shareholders. When was it agreed by shareholders to keep the asset and use it as a seed asset for the Living Villages concept. This is again an example of the fund manager's interests trumping that of other shareholders.
npt
13/7/2017
09:54
Rushden Lakes (I presume it's the one) appeared on Countryfile last Sunday.
badtime
07/7/2017
10:39
A lot of money and time have been invested into the Living Villages idea and brand. I wonder if current shareholders will ever receive any benefit from it or if the asset will eventually be sold on the cheap as the first asset for the fund manager's next venture. I would be very interested to know how much was spent to date on the Living Villages concept. Keep an eye on what the fund manager does with the Newham Farm asset, as well as the ownership of the Living Villages intellectual property rights. This could be worth a lot if a future business is going to be built around it. The ip rights should not be transferred/sold for next to nothing, especially to a investment manager or an associated fund. I would suggest writing to the Chairman and asking him what the plan is with the asset and IP rights.
npt
07/7/2017
09:58
I went to the AGM 18 months ago and I felt that Living Villages had intended to be a major concept that they could roll out in multiple locations but planning delays meant it never got traction within the life of LXB. Pity, looks a good idea.
mad foetus
07/7/2017
09:54
For those of you who are interested...... Living Villages - Higher Newham Farm hxxp://www.highernewham.com/the-vision.php This is the asset which I keep banging on about that is going to be transferred to 'Newco'. 155 Homes etc.
npt
04/7/2017
15:07
10p on top of the 34p NAV last reported? The Chairman said that he was confident about reaching the 38.67 NAV reported in Sept. 2016 (I think). The 38.67 NAV number excluded any uplift from Rushden phase 2 & 3. I'd be extremely happy if we get 45p plus return in total. I would have expected the share price to react more strongly to the good news.
npt
04/7/2017
14:41
I had originally hoped for around 15p, but I'm nearer your 10p at the moment. I think mid/high 40's is as much as we are going to see, but given their track record, it could trend lower.
tiltonboy
04/7/2017
13:46
Hi tilts - what do you see as the value of P2+3 not accounted into NAV for now? I had in mind ">10p".
actofwill
04/7/2017
12:02
For those also mystified by the above, lab announced today that the Secretary of state will not call in the Rushden plans. Good news as is good progress in letting on that site
shaker44
04/7/2017
10:40
Hopefully this news will push them back up. http://uk.advfn.com/stock-market/london/lxb-retail-LXB/share-news/LXB-Retail-Properties-Plc-Update-on-planning-statu/75166016
tiltonboy
14/6/2017
19:56
Maybe so Shaker but that only works if in the end a good NAV is delivered. There's just not enough liquidity for them to exit in any other way.
loglorry1
14/6/2017
15:21
But for them it's win win. If the share price falls they just load up on the expenses. Nice work if you can get away with it.
shaker44
14/6/2017
15:02
It's a risk shaker44 but they have quite a lot of skin in the game having bought significant stock themselves.
loglorry1
14/6/2017
12:03
That would imply you trust the BoD and Walton to put the shareholders interest s first and not to leak significant funds to investment advisor and to massage newco structure. I wish I felt that confident
shaker44
14/6/2017
11:54
Assuming all phases of Rushden Lakes go through probably looking at final NAV of mid to high 40s. Not a disaster and probably worth averaging down at these prices.
loglorry1
14/6/2017
10:39
WTF! Wriggles has thrown us a bone!
mad foetus
13/6/2017
08:32
Just to add, under the Codes of Practice published by the JFSC, the regulators of LXB, the prime principal is that the interests of investors are paramount. If you state that there is a widespread belief that they have been ignored then I would be surprised if the JFSC didn't look at it, especially if there are multiple complaints.
mad foetus
13/6/2017
08:22
The JFSC won't get involved unless there is an accusation of wrongdoing. If you want to go down that route the pressure points are the administrator and George Baird, the resident Jersey director. I would suggest you use phrases like "I am concerned that the board are failing to provide independent oversight of the investment manager and are failing in their fiduciary duty to minority shareholders, causing reputational damage to the Island."But there is no downside risk, you won't be sued.
mad foetus
13/6/2017
08:19
deleted as duplicate
786sunshine
13/6/2017
08:18
Plan to write as suggested by npt but as stated, and having regard to the history, doubt this will have an effect, so I think a stronger pressure may be needed. Are there any potential risks or downsides with raising a complaint with the Jersey Financial Services Commission? e.g. potential liability to pay the costs of the defendant if the complaint is not upheld? or being sued for "defamation" if the complaint fails? Asking as unfamiliar with Jersey laws.
786sunshine
13/6/2017
06:44
Personally I would write to the Chairman (Phil Wrigley) and copy in the Company Secretary and Fund Manager. It only takes five minutes to pen an email communicating your unhappiness about the increase in fund management fees in light of the big drop in NAV. I would also raise a concern about what the new Fund Management agreement in Newco will entail (will it contain a new profit split agreement or just a management fee?). Lastly, I would mention the Higher Newham Farm asset and question what is being done about the massive overheads as this is eroding the remaining shareholder value fast. I'm don't think that the emails will change anything, but at least it communicates shareholders dissatisfaction and could influence how Newco is structured and the Fund Management agreement that accompanies it. A little pressure on the Board and Fund Manager is appropriate at this juncture otherwise shareholders will be shafted. Therefore, I ask all shareholders that share my concerns to write a quick email to the Chairman and copy in the addresses below. I would really appreciate it. I've done my bit, but the Chairman took offence at my questions and refuses to answer any of them. Remember, shareholders are paying the Board £305,000 per year to do what is in the best interests of shareholders and I for one want to know what is being done by them to earn it. phil@madisoncapital.co.uk Sarah.Earles@Intertrustgroup.com lxbproperties@intertrustgroup.com info@lxbproperties.com
npt
13/6/2017
01:57
Jersey financial services commission.
shaker44
12/6/2017
23:48
Is there a regulatory body to which a formal complaint could be raised, either individually or as a group, for the points highlighted by npt?
786sunshine
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