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
  +0.00p +0.00% 19.625p 19.25p 20.25p - - - 0 12:02:01
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 85.2 -15.1 -8.9 - 33.82

Lxb Retail Share Discussion Threads

Showing 1626 to 1648 of 1650 messages
Chat Pages: 66  65  64  63  62  61  60  59  58  57  56  55  Older
DateSubjectAuthorDiscuss
21/11/2017
14:44
The fund manager wants to sell Stafford Retail, Sutton and hopefully Sheppey before transferring the remaining assets to Newco. If the Newco proposal gets approved in Feb. 2018 it will take a few months to implement. I think the fund manager has at least 6 months to try and sell Stafford, Sutton and Sheppey. Hopefully the accounts will give us a better idea of the current state of play.
npt
21/11/2017
14:36
I would be shocked if Sutton is sold anytime soon. The planning application for the amalgamation of units B3, B4, and B5 for the gym has not yet been approved, so I imagine this property would be very difficult to sell at present. The same goes for Neats Court. I see another planning application for it from LXB that is awaiting approval. I am guessing the two remaining units are proving difficult to let, that is why they are requesting a loosening of restrictions. Stafford retail should be at full occupancy, but as you've stated the lack of communication (other than the warning of an undisclosed write-down) regarding this must be concerning. Stafford is fully, or almost fully let though, so you would think that at this point it's the most likely to be sold.
tabhair
21/11/2017
14:21
The management fees are fixed until March 2019 (I think) and I'm sure the fund manager will want to be remunerated if they have to stay in until phase 2 and 4 at Rushden are constructed. Hopefully The Crown Estate will have taken over the entire project before March 2019.
npt
21/11/2017
14:11
Any new financials, based on history, will include additional payments to the Investment Manager, spuriously justified. But I will be very happy to be proved wrong, not to say, very surprised.
shaker44
21/11/2017
13:51
I wonder whether the accounts will only be released in late December/early January when the fund manager has something positive to disclose at the same time - like the sale of Sheppey/Sutton/Stafford etc. Concluding the sales should enable a 15p distribution.
npt
21/11/2017
13:39
A 15p distribution? In our dreams I think. In the best case scenario (assuming that no money is due to Highways England) - I estimate that the company holds about £25M in cash (about 15p). This is adding the £8.6M that was/will be received from Rushden to the current cash balance, also including £1.3M from Greenwich, then taking out £2.5M for expenses and £2.5M for committed to Rushden costs. I am guessing that in reality, things are worse than that, as there always seems to be mishaps and cost overruns with this company. I am thinking if we include a Highways England claim and overruns, maybe there should be another £5M deduction to the cash balance. Assuming the company would want to keep some sort of a cushion, maybe they could afford to pay out £10M (which would be about 6p). If Stafford or Sutton was almost close to a sale, perhaps, they could pay out £20M (about 9p).
tabhair
21/11/2017
09:18
The September 2017 accounts will be released any day now. Dividend payment to follow soon? 15p?
npt
16/11/2017
07:51
http://uk.advfn.com/p.php?pid=nmona&article=76107638
spob
09/11/2017
10:33
The oldco windup and Newco proposals will only be revealed to shareholders at the end of Feb.2018 for a vote. The implementation of the proposals may take a few months. I still think that the fund manager has 5 to 6 months left to sell assets before transferring the remainder to Newco. The last thing anyone wants is a firesale of the remaining assets. I don't mind waiting a few months longer if it is going to secure a higher sales price. More time hopefully means getting more lettings done and achieving a higher sales price.
npt
09/11/2017
10:13
Yes, the we were promised end of year results in the second half of November, perhaps they will kitchen sink the good and the bad news then. It seems like a lot of disposals (Stafford Riverside, Sutton, plus a few other bits and bobs) that were promised prior to Newco will need to happen between now and end of February 2018. Very little has been heard on this front, bar the teaser that Stafford Riverside is being actively marketed. No progress. I wonder is there a possibility that Newco gets pushed back even further.
tabhair
09/11/2017
10:07
The September 2017 numbers are not going to look pretty and the fund manager probably wants to keep some good news (lettings at Rushden) back to cushion the blow. I don't expect an update before the release of the accounts closer to the end of the month. The fund manager must currently be negotiating with TCE to exit the Rushden Lakes project. Getting planning permission for the link road which will enable the practical implementation (traffic & parking) of the terrace A extension will hopefully add some value. I'm not expecting any developments re Sutton, Sheppey and Stafford apart from a few lettings. Selling the three assets may take longer than anticipated.
npt
09/11/2017
09:06
Rushden Lakes Link Road site is available. I think it's very strange that we have not had an update yet, we were promised one when phases 2+3 of Rushden went unconditional and the performance bond associated with this was received. It seems like we've had quite a lot of material information since then. We have heard from npt about numerous lettings, we should have further information about the Highways England claim, there is the link road of course, there's the revised funding arrangement for Rushden Lakes that the company hinted at.
tabhair
03/11/2017
10:06
The website will only work after the public consultation on the 8th of November. The link road will improve the site dramatically and the extension to terrace A to accommodate new quality tenants is more of a possibility now.
npt
03/11/2017
09:24
hxxp://www.rushdenlakeslinkroad.co.uk/ Not working incidentally.
tabhair
03/11/2017
09:17
The only thing land registry won't show is if someone had an option to buy the land and then sold the option to The Crown Estate. If the Fund Manager was involved and made money from the transaction, would that be ethical? Shareholders have been stung by the recently revealed England Highways costs and it would be a kick in the balls if the Fund Manager made a bundle by buying and selling the site that will give Rushden Lakes another site access. I think shareholders deserve to know. We pay the Fund Manager fees to manage the fund not to make side deals that benefit them personally. I may be wrong and the site may have been bought from a third party, but the Chairman's reticence is really arousing my suspicions. I'll do more research during the next week and hopefully I'll be able to get to the bottom of what's behind this land transaction. And to think the Board paid the Investment Manager a £800k bonus.
npt
03/11/2017
07:34
I guess the land registry will be able to answer your question.
flyfisher
02/11/2017
22:56
A public consultation will be held at Rushden Lakes for the proposed new link road between Ditchford Lane and Rushden Lakes. The land over which the road is going to be built was sold to the Crown Estate a few weeks ago and a they are planning to construct phase 4 and 5 there in the future. LXB is managing the public consultation and planning for the link road. The fund did not own the land for the proposed road, so who exactly sold the piece of land to The Crown Estate? Was it an external third party? Was it the fund manager? If it was the fund manager, is it ethical for a fund manager to do a side deal for a site connected to a main project for a fund itis managing? I asked the Chairman who sold the site to The Crown Estate and he did not want to give me an answer. It would be a massive conflict of interest if the fund manager bought the land and made a bundle selling it to the Crown Estate. Does anyone on the board know who owned the piece of land? https://m.facebook.com/RushdenLakes/photos/a.162910343859061.37936.162529813897114/876338005849621/?type=3&source=48
npt
01/11/2017
10:46
I think the company has committed to providing an update on November 6th (the point at which cash from the performance bond is received), so they may just decide to provide a "big bang" update at that point. We will find out shortly enough. With regard to a potential distribution at that point. We can speculate a little on what we might be able to receive. We know the company currently holds £19.7M of cash, we also know that the performance bond should bump that up by £15M, giving us £34.7M. They have said that £2.5M will need to be spent on Rushden, and if the previous interim was anything to go by, we might get about £800K in rent with £3M in costs going out the door. Subbing that out those two items, we get to just under £30M. I am guessing based on the 30-35p range of guidance that was previously given by management, that the differential relates to the unknown liability to Highways England. Best case, the liability is nothing, worst case it's £8M. If we then assume that maybe £15M of cash will be held back to fund Higher Newham, Stafford Cinema and Newco company costs for two years, then we're looking at a potential distribution of between 4p and 9p. Clearly, the outstanding Highways England claim is highly material in relation to any coming distribution. Also, my assumptions ignore any other cost overruns. The last 6 months of trading have not gone well, so I could easily see another 2p knocked off here. Maybe in a nightmare scenario, there is no money to distribute? Naturally, that analysis just focuses on the currently portion of cash on hand that can be distributed. There is of course the value of Stafford and Sutton retail developments that the company hold, as well as other smaller assets (total value of property that will not go into Newco is about £50M as of most recent interims) which are expected to be sold prior to the incorporation of Newco in February next year. That's now just 4 months away, so the clock is clearly ticking on the disposal of these assets. If we take a 20% impairment on the total (leaves £40M) and then sub out the £25M in borrowings, that leaves us with another £15M of net cash (about 9p) that could be distributed, albeit at some point later. This is juts a guess, but given that only 4 months are left to the incorporation of Newco, I am expecting that the company will announce the sale of the Stafford retail development within the next month or two. The clock is ticking. Just as a final aside, having done the sums on best case/worst case scenario's for the year end results. I have fully braced myself for what I expect to be very nasty NAV as of year end September 2017. If the Highways England claim has merit and the assets of properties held is marked down sharply, I could see NAV of 24p. In that scenario, I think the share price is likely to take another battering, even off of the current price of 20p.
tabhair
31/10/2017
09:19
The Fund Manager should now be in a position to confirm a no JR at Rushden phase 2 and 3, taking into account a 7 dag backlog to register JRs. From the 12 September 2017 RNS - "The variations to the funding agreement with The Crown Estate become unconditional 10 working days after the review period has expired (assuming no challenge has emerged during that time) so, even though all of the other elements required for that variation to become unconditional are satisfied, the earliest time when matters will be final and funds are received will now be 6 November 2017." There should be no reason why the cash received from the Crown Estate for phase 2 and 3 can't be distributed to shareholders. The Fund Manager is currently holding enough cash back to cover the performance bond required for phase 2 and 3. The fund is receiving rental income from Stafford Retail and Sheppey fast food units, so after paying interest the net rent should cover fund expenses. The fund spent a lot of fund already on the start of phase 2 and 3 at Rushden and this will also be recouped from the Crown Estate as the the Crown Estate is funding the build.
npt
30/10/2017
22:25
opti is one to consider.
lufc5
30/10/2017
20:24
You have to laugh at the title of this thread. Maybe it should be 'Bled by investment manager' Enough. This fails my test of would I invest here today? If not, sell. Knowing what I do now about Chairman,BoD and investment manager, I wouldn't touch it with a bargepole. Newco will be more of the same and maybe worse. Handwringing by the board,excuses from investment manager while collecting extortionate fees,pi's tilting at windmills. Time to take the losses on my 81k,offset against gains for cgt, and redeploy in a well managed growing business
shaker44
26/10/2017
15:50
npt it makes perfect sense. I'd be interested to know the answer. I would have thought it was either yes/no but as shaker says I'm sure we'll get some waffle back.
loglorry1
26/10/2017
13:03
Probably to you and me but not to the wriggle.
shaker44
Chat Pages: 66  65  64  63  62  61  60  59  58  57  56  55  Older
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P:32 V: D:20171124 13:02:07