Lxb Retail Properties Share Discussion Threads

[mad foetus] 02/2/2016 13:54

can't recall, will try to have a look tonight and hope the brain cells are working tomorrow!

[fozzie] 02/2/2016 13:03

What are the other two defensive stocks he invests in Madf?

[tiltonboy] 02/2/2016 12:43

I put a cheeky bid on the board at 95, and everyone then bid-up against me.

[badtime] 02/2/2016 12:16

Which has now closed up......

[badtime] 02/2/2016 11:34

Unusually wide spread being quoted toda

[mad foetus] 02/2/2016 11:17

In the latest Money Observer they have an article on Fidelity Special Values and the manager (Alex Wright) says that personally he invests in his own fund but also in 3 defensive stocks, one of which is LXB. Good to know: he is someone with research and access covering the whole investible universe and has chosen to put his money here.

[badtime] 28/1/2016 22:34

Tilts cheers for post 741

[loobrush] 28/1/2016 21:41

Yep you are correct £18 million ,so that's up to a further 3,470,000 to go.

[tiltonboy] 28/1/2016 20:02

They have the authority to buy back up to £18m. They have paid just over 96p on average so far.

[loobrush] 28/1/2016 19:48

OK just worked it out.
Total that could be bought in max £16 million @ say 96p =16,666,666

Total bought in to date 15,280,000

So max to go 1,386,666. Not a lot.

I think this is correct but please someone check the figures.

[loobrush] 28/1/2016 19:25

Has anyone calculated how many shares have been bought in to date and how many to go ?

I don't expect an update until they have completed the buyback.

[tiltonboy] 28/1/2016 19:24

There's been a new buyer around the last couple of days. Stifel highlighted them as one of their plays on 2016.

[badtime] 27/1/2016 11:59

Looks like they've taken a few more today

[mad foetus] 26/1/2016 09:17

Worth recalling what was promised in the results on 11 December:

I expect to be able to put proposals to Shareholders early in the New Year, these proposals will include:

-- the timing and quantum of likely cash returns; we expect to commence a share buyback programme in the next few weeks which will buy back up to GBP16m worth of the Group's shares and we will seek to renew the authority to continue with the buyback programme for relatively small amounts at the AGM. The Board remains committed to the principle that larger cash returns should be made under the return of capital mechanism used for the cash return in May 2015 but that smaller amounts should be returned as soon as practicable using its share buyback authority;

-- the likely value of the Group's investments, including any material uncertainties, such as the foodstore related assets at Stafford and Ayr;

-- plans for the completion of the Group's commitments which extend beyond the likely winding up date;

-- the arrangements for Investment Manager fees and an incentive plan. The Board needs to ensure that the Investment Manager is committed to realising the value of the Company's investments and rewarded accordingly. Part of that arrangement needs to be that the Investment Manager is free to start making new arrangements for its own business beyond LXB Retail provided that there is no conflict with the delivery of its existing contractual commitments to the Group; and

-- the arrangements for Rushden Phase 3, the entrance site, where there is a commitment to deliver for The Crown Estate but where that commitment, at least in terms of build, will fall outside of the winding up period.


There are quite a few projects where the ultimate value could be materially higher than has previously been accounted for. The share price has held up very well amid the market falls, and I am happy to see the company buying back shares at the current price. Maybe, when the buyback programme is complete we will get an update on the value of some of these projects that have progressed significantly since acquisition.

[sleepy] 22/1/2016 08:00

Yes - Bizarre. May be due to interplay of their share sales and the companies share buy backs

[skyship] 21/1/2016 17:44

Sold c800k; Bizarre declaration. Why make it at all if they haven't crossed the 10% threshold - still @ 10.06%!!!

[badtime] 21/1/2016 12:32

Cheers Eeza,.. I guess they need chunks to satisfy the buyback ..although ive never understood why an institution would want to sell if the outlook looks promising

[eeza] 21/1/2016 12:21

Morgan Stanley reduced by 1mil on Jan 15

[badtime] 21/1/2016 12:09

Hard to read the contents of that rns in a phone ..is that the seller?

[loobrush] 20/1/2016 17:11

Great time for the buy in whilst market is like this as will increase assets per share to benefit to all holders.

[badtime] 20/1/2016 16:22

I assume they've held off buying today as the share price is off a tad

[loobrush] 19/1/2016 19:11

Just noticed on the header that the directors and management team invested £15.4 million when it came to market. That's some incentive to get the share price up along with shares they have bought recently into their pension fund.

[bearhug2] 19/1/2016 18:34

It isn't helping the share price is it NF?...would of been better with a special divi but a decent level to keep adding..GL

[badtime] 19/1/2016 17:10

Wonder who's selling

[nk104] 19/1/2016 13:48

LXB aren't messing around with this buyback. It was 4 million shares yesterday, 1.5 million the day before.