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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Lxb Retail Properties Plc | LXB | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1.54 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.54 | 1.54 |
| Top Posts |
|---|
Posted at 25/6/2019 14:21 by npt Ex owner of the fund manger submitted a planning application on the land next to Rushden Lakes, an asset which it managed in the LXB Retail Properties Plc portfolio. The land was bought while the fund manager still managed the fund. Conflict of interest? |
Posted at 30/5/2019 09:46 by npt I did receive a response justifying the actions/decisions by the Board has taken.There is nothing that can be done now. I just want my last dividend and I'll make sure to avoid any investment where any of the Board or Fund Manager has any involvement in. The Fund Manager actually did o.k. out managing the fund. The shareholders are the only ones who got slaughtered. |
Posted at 30/5/2019 08:55 by npt Has anyone received the last dividend today? |
Posted at 03/5/2019 13:12 by npt On 1 March 2019 the issued rns mentioned an expected final dividend of 2p, which equates to a £3,367,000 payment to shareholders. On 30 April 2019 the issued rns mentioned a revised final dividend of 1.2p which equates to £2,020,200, therefore there was a decrease of £1,346,800 in the final expected payment to shareholders. The £1,346,800 decrease does not even include the value realised for the Greggs and Blue Mountain Yard units. If £250,000 value for each unit was added by getting planning permission, that means that the value decrease between 1 March 2019 and 30 April 2019 is about £1,846,800. The Chairman mentioned that £400,000 related to Highways England and £700,000 to service charge caps for vacant units, but what caused the rest of the value loss? Assuming that the value uplift gained by receiving planning permission for the 2 units is correct, what caused the unaccounted £746,800 value loss? Did Blizzard Estates (owned by members of the fund manager) chip the price it was going to pay for Skew Bridge? I've asked the Chairman of the Board to clarify, but have not received a response. |
Posted at 01/5/2019 11:20 by npt I'm sure the final dividend won't be 1.2p. I'll be surprised if it is anywhere close.They will 'discover' more costs before the court dissolution hearing. They are totally unaware of all the cost exposures. The Board are caught totally by surprise every time new costs appear from out of the blue. Oops! We didn't anticipate another £1.1m in costs. Sorry! The previous end dividend guide of 2p was given by us, but unfortunately we are totally clueless and incompetent. How the Board and fund manager were both unaware of this cost exposure is totally beyond me. How can you not be aware of a £1.1m cost exposure. It's laughable. |
Posted at 30/4/2019 22:09 by npt LXB had big losses during the past 3 years. The properties in the portfolio were massively overvalued and when they started selling assets the chickens came home to roost. The only winners in this are the fund manager and the Board. Shareholders, especially the ones who reinvested dividends or came late to the party, have been roasted. The fund manager earned more than £32m in management fees during the life of the fund and probably could not give a toss. The remaining members of the fund manager are taking on the remaining companies of the fund and are being paid handsomely for doing so. On the 1st of March a final dividend of 2p was guided. Today 1.2p. Extra costs of £1.1m just materialised out of nowhere. The Board, fund manager, accountants, tax and legal advisers all made a bundle. The real IRR after 9 years must be close to zero if not negative. If you came late to the party then you've absolutely lost a lot of money. These guys are charlatans and should be avoided if you don't want to lose your money. I thought I've seen it all, but the level of incompetence demonstrated by the Board and fund manager really shocked me. |
Posted at 18/4/2019 19:16 by npt I'm anticipating that the next rns will say that there is zero left to distribute. LXB is suffering a death by a thousand cuts. This is like a slow motion car crash.. |
Posted at 22/3/2019 09:09 by npt Has anyone received the 3p dividend that should have cleared on 21 March 2019? |
Posted at 07/8/2018 11:38 by tabhair Another update today, no bad surprises with the 26-28p guidance re-affirmed. Rushden Lake phases 3+4 have now been signed off on, so I would expect us to get the promised 5.5p dividend September/October.That doesn't leave much to dispose of. Biggleswade: We have been told that the final two units are due to be completed and tenanted by the end of August. If past lettings at Biggleswade are anything to go by, we should expect £1.5-2m here, assuming competition. Rushden Lakes Phase 2: Lettings here have apparently been progressing well, but completion isn't due until January 2019. 4 units are remaining to be let here, 2 are with solicitors. I am thinking the range here for the remaining cash receipt would be £3-4m. Sutton: This is the largest variable component that needs to be disposed of. A buyer had been found, but was dragging feet, so now this asset is back up for sale. There is 27,500 sq/ft of space here. Assume it's being let at the very lowest range that LXB have let property which is £15 per sq/ft, that gives annual rent of £412,500. At a 7% cap rate, that give a value of £5.9m which seems reasonable to me, even if this bad retail environment. Higher Newham: Up for sale, not hugely material. Booked at £1m. My figures on the disposals -------------------- Cash as of interim £20.43m Sheppy +£2.85m Rushden 3/4 +£10.2m Current cash position £33.48m Stafford +£5.7m (agreed, but not yet recieved) Total cash £39.18m (23.27p) Remaining assets to dispose of. Biggleswade +£1.5-£2 Rushden Lakes phase 2 +£3/4m Sutton +£5-6m Higher Newham +£1m Gross cash £49.68m (worse case) Gross cash £52.18m (best case) Costs Admin costs -£3.5m Misc wind-down costs -£1m End cash £45m return 26.7p (worse case) End cash £47.6m return 28.1p (best case) |
Posted at 03/6/2018 19:23 by danieldanj LXB Retail (LXB) Earnings-Reaction to Keep an Eye |
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