Lxb Retail Properties Share Discussion Threads

[simonsaid1] 09/6/2016 11:32

Eesh. Will you all just stop buying for a bit so my overly-optimistic limit order can kick in? :/ *twiddles thumbs*

[tiltonboy] 09/6/2016 07:12

jaws,

No. There is a clue in my name!

[shaker44] 09/6/2016 07:02

Check Labrokes view of brexit. Not a horse I would back at those odds. But it suits the media to make it too close to call...

[jaws6] 09/6/2016 06:53

tboy
are you in london ?

[spob] 09/6/2016 06:38

Yes and if you have an account with BARCLAYS, talk to the hand

[tiltonboy] 08/6/2016 23:20

ss1,

The B shares have now redeemed; it just depends how quickly your broker credits your account.

[tiltonboy] 08/6/2016 23:19

I'm a property developer, and I'm building out a development. I have interested potential tenants, and I then have a property company, who would like to buy the development, on the back of the potential tenants. Even though it hasn't been built, I sign a "forward sale agreement" with the property company.

This agreement will be subject to certain pre-conditions, which will include signing up the tenants at an agreed rent, and opening on time. Adjustments may be made if some of the pre-conditions are not fully met.

[janvrot] 08/6/2016 23:04

Can someone give an example of a forward sale agreement? Thanks

[simonsaid1] 08/6/2016 16:20

My broker account is showing (where [XXXXXX] is the number of shares, removed before posting):

Exchange Offer 1:1 Credit [XXXXXX] LXB Retail Propert Ord NPV (Dummy Income) For [XXXXXX] Shares of LXB Retail Properties PLC Due on 01-Jun-2016 With Ex Date 26-May-2016

I was never given the choice of cash VS B shares, and at this point there appears no way to redeem the amount shown. Hopefully it frees up tomorrow.

[catsick] 08/6/2016 16:10

I had been planning to roll mine into a few more here and a few more of fpo which is another ST favorite with results due tomorrow, Too late on both counts .....

[catsick] 08/6/2016 16:06

Yes nearly a million changing hands today, looks like reinvestment of that chunk of cash, will continue for a few days I guess as I have not seen mine yet !

[shaker44] 08/6/2016 15:57

Simon Thompson has done a good analysis in Investors Chronicle today after spotting more of the team investing yesterday. Seems to me that if those closest to assessing the likely future payouts are putting more of their own cash in the game then I should do likewise. Certainly seems more upside than downside so I have doubled my holding. The price may drift a little with all this brexit noise but once past that, either way, it should move up..

[badtime] 08/6/2016 15:55

Tilts..likewise Sp currently 64.5/64.75 ..certainly up from post 'div/capital return' day...which has allowed the likes of MF to take a turn

[epistrophy] 08/6/2016 15:52

Yes mine arrived today. Showing as "DUMMY INCOME" for some reason.

[simonsaid1] 08/6/2016 15:31

Oh really? I still have this strange entry in my brokerage account that I can't do anything with. Might need to call them to see what's happened. But above npt wrote that the redemption is on the 9th (tomorrow).

EDIT: Perhaps you're saying the cash div paid out before the redemption.

[tiltonboy] 08/6/2016 15:00

I had my cash yesterday.

[simonsaid1] 08/6/2016 14:02

Ha - 'Initial completion proceeds' is oxymoronic. I guess that means there are more payments to come?

SP just hovers from 63-4p (except for a brief lunchbreak blip), I guess until the B share redemption causes some re-buys.

[badtime] 08/6/2016 13:50

And in the meantime the share price nudges up

[loobrush] 08/6/2016 11:50

lOWER VALUE
It is due to what they say

"As a result of costs, the initial completion proceeds have been lowered from £75 million to £65.2 million and The Crown Estate has paid the sum in cash."

It cost more to do.

And this something that could affect further valuations -so be cautious.

[mad foetus] 08/6/2016 11:35

janvrot,
I have no idea what that meant: "the majority of the reduction relates to timing differences" indicates to me that the "initial" amount is lower than expected but presumably the final amount will be correspondingly higher?

[tiltonboy] 08/6/2016 11:34

They hadn't completed all the pre-lets on time, so they will get more of the funds once these have been done.