Lxi Reit Share Discussion Threads

[skinny] 12/10/2018 07:18

The Issue of New Ordinary Shares will be split as follows:

• 91,438,880 New Ordinary Shares under the Initial Placing, raising gross proceeds of approximately £103.1 million;

• 26,734,137 New Ordinary Shares under the Open Offer (including the Excess Application Facility), raising gross proceeds of approximately £30.1 million;

• 17,723,022 New Ordinary Shares under the Placing, raising gross proceeds of approximately £20 million;

• 17,489,325 New Ordinary Shares under the Offer for Subscription, raising gross proceeds of approximately £19.7 million; and

• 2,047,801 New Ordinary Shares under the Intermediaries Offer, raising gross proceeds of approximately £2.3 million

All valid applications received under the Open Offer (including valid applications under the Excess Application Facility) will be met in full.

[jonwig] 12/10/2018 07:07

Successfully got the issue away and over-subscribed!

Further to its announcement on 24 September 2018, the Board of Directors of LXi REIT, the specialist inflation-protected long income REIT, is pleased to announce that it has successfully raised gross proceeds of £175 million pursuant to the issue of a total of 155,433,165 ordinary shares in the Company, at an Issue Price of 112.75 pence per New Ordinary Share. The result of the Issue was well in excess of the target fundraising size and also oversubscribed at the maximum issue size.

[skinny] 11/10/2018 12:22

Further to its announcement on 24 September 2018, the board of directors of LXi REIT (ticker: LXI), the specialist inflation-protected long income REIT, is pleased to announce that both of the resolutions put forward at its General Meeting held earlier today were passed. The resolutions were in connection with the proposed issue of further ordinary shares ("New Ordinary Shares") in the Company, as detailed in the prospectus published by the Company on 24 September 2018 (the "Prospectus").

The text of all the resolutions can be found in the Notice of Meeting contained in the circular published by the Company on 24 September 2018.

more.....

[jonwig] 08/10/2018 22:09

jdepp, would have had unspent cash eàrning no revenue. Cash drag would lead to uncovered divided.Agreed offer not so attractive.

[jdepp5] 08/10/2018 21:59

can't help thinking that they will be lucky to get the 100m, or extra allowed, placing away.
It was a classic ramp to get the stock to 118 and publicise a 4.4% discount after divs at price of 112.75.
I have been a big holder in the past but cannot help feeling that this is priced a tad high given current market. They should have raised earlier before the inc in NAV

[skinny] 04/10/2018 07:23

The Board of LXi REIT plc (ticker: LXI), the specialist inflation-protected very long income REIT, is pleased to announce an interim quarterly dividend in respect of the period from 1 July to 30 September 2018 of 1.375 pence per ordinary share, payable on 21 December 2018 to shareholders on the register at 12 October 2018. The ex-dividend date will be 11 October 2018. The dividend reflects an annualised rate of 5.50 pence, in line with the Company's current annual dividend target*.

[jonwig] 26/9/2018 16:48

Prospectus for equity raise:

[jonwig] 24/9/2018 07:10

Issue of equity. Includes open offer (7:31 at 112.75p):

[jonwig] 17/9/2018 07:48

Thanks Skinny.

So they could borrow another £22m to reach their target LTV, and increase net rents by £0.9m. That's 0.4p on the dividend. That would be a bit rash at this stage in the cycle though!

[jonwig] 10/9/2018 08:06

Great progress:

The Board of LXi REIT plc (ticker: LXI), the specialist inflation-protected very long income REIT, is pleased to announce that its unaudited EPRA Net Asset Value ("NAV") per ordinary share was 113.2 pence as at 1 September 2018.*

The NAV represents an increase of 5.5 pence per share, or 5.1% from the 107.7 pence per share audited EPRA NAV as at 31 March 2018 and an increase of 15.2 pence per share, or 15.5% from the 98 pence per share NAV at IPO in February 2017.

[skinny] 06/8/2018 14:48

Yes I totally missed it earlier

[jonwig] 06/8/2018 14:37

You're a bit late today, Skinny! Must be the heat on the Med?

Equity raise? If (as they say) a prospectus, that suggests an open offer rather than just a placing with instis.

[skinny] 06/8/2018 14:12

Interim Dividend

The Board of LXi REIT plc (ticker: LXI), the specialist inflation-protected very long income REIT, is pleased to announce an interim quarterly dividend in respect of the period from 1 April 2018 to 30 June 2018 of 1.375 pence per ordinary share, payable on 28 September 2018 to shareholders on the register at 7 September 2018. The ex-dividend date will be 6 September 2018. The dividend reflects an annualised rate of 5.50 pence, in line with the Company's current annual dividend target.*

1.355 pence of this dividend will be paid as a Property Income Distribution ("PID") and 0.02 pence will be paid as an ordinary UK dividend ("non-PID"). PID dividends are paid out of tax-exempt property rental income. Dividends paid from licence fee income that the Company receives from developers during the construction period on forward funding projects are treated as non-PID dividends.

Shareholders entitled to elect to receive PID distributions without deduction for withholding tax should complete the declaration form which is available in the Investors section of the Company's website, www.lxireit.com and return to the Company's registrar, Link Asset Services, at The Registry, 34 Beckenham Road, Beckenham, Kent, BR3 4TU.

Update

The Company, having successfully deployed the £293 million of equity and debt capital raised since its IPO in February 2017, is contemplating an equity raise in 2018 to fund further investments in line with its investment policy and objectives and with a view to delivering further value for its shareholders. Any such raise is expected to follow the publication of an updated net asset value for the Company and a prospectus. A further announcement will follow in due course.

[jonwig] 25/6/2018 07:35

Profitable disposal of two care homes and purchase of Stobart facility:



I'm personally pleased they've sold the care homes (bad sector) and the Stobart is sale-and-leaseback over 22.5 yrs without break. Stobart are having some boardroom ructions, other than that I know nothing about them.

[gswredland] 14/6/2018 05:37

Share doingbreally well anyway!

[jonwig] 12/6/2018 07:49

LXI acquired a Motorpoint showroom in Lancashire last August, and some posters worried that it might be the wrong sector to invest in. Anyway, Motorpoint issued some very good results this morning so wrong sector maybe, but right company!

premium to nav now about 6%.

[skinny] 04/6/2018 09:57

Possibly - Friday's volume was the highest this year.

[jonwig] 01/6/2018 16:40

Skinny - a lot of boring REITs floated last year, seem to be doing nothing, or less. I'm pleased to have landed in this one - maybe other investors are switching to get some expertise?

[skinny] 01/6/2018 16:09

Interesting rise today.

[garycook] 21/5/2018 07:57

jonwig,Thanks,Purchased some MXF recently,and I will see what happens with the resulting Hargreaves Lansdown dividend payment on MXF.

[jonwig] 21/5/2018 07:54

@ Gary - my LXI are with a broker who pays the PID net and reclaims the tax. This then appears a few weeks later. I also use another broker which pays PIDs gross in an ISA.

I think cheaper brokers will do he reclaim route, as they will have both ISA and non-ISA holders, which would make them extra work.

[garycook] 21/5/2018 07:30

jonwig,and Skinny,If you are holders of LXI or other REITS.Do you get paid the dividend in full,if the Nominee for eg HL is your broker,and the shares are in there name and not yours ?