Lxb Retail Properties Share Discussion Threads

[shaker44] 20/5/2017 13:23

Hmm. Maybe an insider loading up again?

[flyfisher] 20/5/2017 08:57

The small sells over recent weeks have been met by a persistent buyer, normally announced at the end of the day.

What does the buyer know or expect?

[catsick] 21/4/2017 14:30

Im out of this now, Its been an decent position but the writing on the wall is that management were looking like their best interests were aligned with creating shareholder value but seems like a few projects have not been sold well and now they just want to milk the shareholders for more fees and create a new entity to maintain the bleed, will continue to follow but the window to make money here requires too much hope now ....

[spob] 13/4/2017 17:22

Well said npt

[shaker44] 13/4/2017 16:34

I entirely agree with npt and I sense that the Lxb retail properties board is effectively 'managed' by Tim Walton, the leading light at the fund manager. Only by shaking the tree via the Jersey Financial Commission can private investors hope to be just milked through Newco as opposed to being royally shafted.

[scbscb] 13/4/2017 13:10

Does anyone know or found out what is the relationship between the directors and the management company? This would be useful in trying to stop the board giving away shareholders funds. As they both share the name LXB it is probably very close, if not the same people? Does any one want to try and organise a shareholders action group to try and get a few of the large shareholders on board (as they are also being shafted by the investment managers) and also bring to attention of UKSA (UK Shareholders' Association)and Sharesoc.

Unfortunately I don't have the time but will write to the Jersey regulator and the chairman.

[shaker44] 11/4/2017 17:04

I expect the investment managers remuneration to be generous but I can not estimate numbers at this point

[actofwill] 11/4/2017 16:54

Management fees will step down to £1.8m - thats given for mar'17-mar1'8. What is your view on expenses then in light of your conversation with the chairman?

[shaker44] 11/4/2017 15:35

From the chairman.
Not newco as that is still to be set out to all shareholders.
But the board is sympathetic to their friends at investment management and believe what I perceive as excessive remuneration to be appropriate.

[actofwill] 11/4/2017 13:49

shaker44: can you elaborate how you ascertained that "different" view from the company? Are you talking about warranties here or actual costs? Are you talking about current company until NewCo or with inclusion of NewCo?

[shaker44] 11/4/2017 13:03

The company has a different view about the complexities of the run off. Don't expect expenses to reduce much,

[actofwill] 11/4/2017 12:55

Newco is not known yet - which is indeed a risk factor. But the 2017-2018 fees are OK. One should expect admin expenses to go down as well significantly - given that there are no major planning items and capex left.

[shaker44] 11/4/2017 12:04

From Mar 17? Really? Then what will happen in newco ?

[actofwill] 11/4/2017 11:24

From Mar'17 to Mar'18 the management fee will drop to £1m + £800k ?

[shaker44] 11/4/2017 11:14

The management fees set for 2017 are £4.3m. Over 18k per workday. And.Their costs? I leave you to guesstimate...

[tabhair] 11/4/2017 11:12

I don't see where the value is here.

Current NAV is maybe £60-£65M? Management fees + costs last year were £4.8M. Surely any valuation that exists on the balance sheet in excess of NAV is just going to be spent on fees?

[tiltonboy] 11/4/2017 08:18

It's hard to disagree with the comments on the manager fees, but I agree with npt that there is still likely to be value here. True, it will be well short of our hopes of 18 months ago, but a number of issues look like they are close to completion, and we have to hope that the rollover vehicle can deliver more value than a firesale now, after taking into account the next lot of fees!

[fozzie] 11/4/2017 07:26

Not so long since the Rushden news and everyone was fighting to buy at 40p plus, time to snaffle a few more I think.

[tiltonboy] 11/4/2017 07:14

That is outdated news. You will now end up with shares in the rollover vehicle as well as cash.

[mrx001] 11/4/2017 06:26

From RNS 21/11/16 Q2/17 - the Board intends to put proposals to Shareholders which will enable all Shareholders who wish to exit the Company to receive full value for their shares.

This will be when I will be done with this lot if it happens.