Lxb Retail Properties Share Discussion Threads

[loglorry1] 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.

[shaker44] 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.

[loglorry1] 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.

[shaker44] 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

[loglorry1] 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.

[mad foetus] 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.

[786sunshine] 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.

[shaker44] 13/6/2017 01:57

Jersey financial services commission.

[786sunshine] 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?

[mad foetus] 08/6/2017 14:18

I would write to George Baird. He is the local NED, and copy in the regulator. Remind him of his fiduciary duty, and that he has been very well paid but now has to earn his coin. The more that do this the better.

[catsick] 08/6/2017 12:13

I would be tempted to buy in around 20p question really is what is the deal with the newco, it was looking like there was some decent hidden value here, that is all being funneled into the new vehicle with plenty of gravy for the mgmt , at some point I could be tempted back in if the mgmt are aligned well with some skin in the new game, will watch and wait ...

[badtime] 08/6/2017 12:03

Anyone fancy a bottom sp?

[shaker44] 06/6/2017 13:45

Went through all this before with Wrigley. He's shameless. Waste of space.
Just runs an old boys club. The only reason to rock the boat would be his conscience but I guess he doesn't have one.

[shaker44] 06/6/2017 13:44

Went through all this before with Wrigley. He's shameless. Waste of space.
Just runs an old boys club

[loglorry1] 06/6/2017 13:25

npt thanks for trying the questions seem completely valid. It is a terrible shame we are paying for such a poor response!

[shaker44] 06/6/2017 13:15

So he Wrigley now won't respond because you challenge him?! He is supposed to be appointed by and work for shareholders. So he should expect to justify his costs/actions. That's normal. If he pulled that stunt with institutions he wouldn't last long