Lxb Retail Properties Share Discussion Threads

[glawsiain] 10/10/2017 11:12

NPT - why have you edited your post about the £617,629.86 trade? 2,872,697 shares bought @ 21.5p.

Seems rather significant

[shaker44] 10/10/2017 06:29

I entirely agree but the incompetent board know only too well that shareholders are powerless. I wish I had checked out the chairman's record at majestic before investing here. Made my own incomplete assessment of Simon Thompson's recommendation at investors chronicle.
He thought it was a one way bet. It was for the investment manager.
I have no expectation that the board can be persuaded to act in the interests of all shareholders now.

[tabhair] 09/10/2017 16:18

Resolution passed. 88,851,322 for, 6,500 against.

[tabhair] 09/10/2017 12:28

EGM today to extend the life of this sucker, I am guessing it'll pass, certainly based on past voting patterns (most shareholders don't vote).

[catsick] 09/10/2017 10:44

Ugly ! Getting tempting to get back in at 20p

[shaker44] 06/10/2017 13:00

I entirely agree with robizm. Not to be trusted. No effective supervision of investment manager by Bod including chairman. All too incestuous.

[daneswooddynamo] 06/10/2017 12:47

The range is nice and wide, I am guessing 30p is a very conservative lower figure as management are already looking a bit silly and will probably not want to come back with even more disappointing news

[robizm] 06/10/2017 12:38

You cannot trust the management who are lining their own pockets. No go for me

[lufc5] 06/10/2017 12:25

The chart suggests that after a major dip, there is a bounce.
This time % wise, it could be good.

[tabhair] 06/10/2017 11:19

So in less than 4 months we go from NAV in excess of 38.7p to as low as 30p. Is the market really that soft? Also, why release this news at 10:15 after the market has opened?

[glawsiain] 06/10/2017 11:08

Yep, I'm back in. Even the low end of their reduced valuation of 30p is >20% on today's price.

And, who knows, maybe there might be good news in the future.... just for a change

[mortimer7] 06/10/2017 10:37

Agree, bought in at this level.

[mad foetus] 06/10/2017 10:23

Another kick in the balls but surely a buy in the low twenties?

[tabhair] 25/9/2017 17:14

That is a fair point, but have management not said that the reason to list NewCo was to bring the cost structure down? Surely we're better having the assets in NewCo, realising less overhead and fees?

With regards to the assets themselves that go into NewCo. Higher Newham and Stafford Cinema are clearly two assets that will have to transfer to NewCo. Rushden Lakes phases 2 and 3, I would have thought that these would have to transfer over as well? I would have thought that was the case until development was complete and tenants were in situ?

I would hold out reasonable hope that the remaining space in Sutton can be sold (although I am concerned at the lack of activity here and recent NAV decline) and that when Stafford Riverside is fully let, it will become an attractive target for an investment company looking for a fully let development producing good cash flow.

[tabhair] 22/9/2017 12:06

I don't see how voting against the extension automatically triggers a fire-sale of assets. All the proposal says is that whatever cash and cash equivalents are available are released to shareholders, while any illiquid assets (Stafford leisure and Rushden Lakes phases 2+3 namely) are pushed into NewCo, where they can be liquidated as the investment manager sees fit. There is no reason why the majority of the £15m of cash on the balance sheet and the further £15m in the form of the Rushden Lakes phase 1 performance bond shouldn't be released to shareholders ASAP.

[maiken] 22/9/2017 11:16

tabhair ,why? genuine question...

[tabhair] 22/9/2017 10:22

How are people intending to vote in the forthcoming EGM? My thoughts are to vote against the proposal.

[tabhair] 14/9/2017 09:21

"He sounds like chairman Wrigley rebuking investment manager over excessive fees. Silent."

Are you talking to me?