O Twelve Estates Share Discussion Threads

[5dally] 15/10/2009 10:02

www.otwelveestates.com

[bamboy74] 15/10/2009 09:53

anybody got L2 on this at the moment ?

[quraishim] 15/10/2009 09:49

large order being filled...........looks like the rise further on might surprise us

[fillipe] 15/10/2009 09:26

Peeps haven't really clocked this....yet.

f

[mreasygoing] 15/10/2009 09:10

Fantastic news,

"The Group's target area in the Thames Gateway was selected to take advantage of the urban regeneration and infrastructure projects taking place in this area and for which the 2012 Olympic Games are a major catalyst."

"If lettings which have been agreed and are currently in solicitors' hands are completed, the void rate would reduce further to 7%. This activity confirms the underlying resilience of the Group's target area."

[love it] 15/10/2009 08:29

Very chilled here how ever long it takes!

[bluesky1st] 15/10/2009 08:28

Agreed love it, great company.

But why sell out for a smallish profit when these will go way higher ??

Buy and hold for multi bagger for me thanks.

[storky boy] 15/10/2009 08:27

bailed @ 11.25 good look all.

SB.

[love it] 15/10/2009 08:24

MM games this is now one hell of a company! Will add on shakes!

[knowing] 15/10/2009 08:20

Have a look at THG too

[love it] 15/10/2009 08:11

no stock no trades as no stock


DOUBLE!?

[5dally] 15/10/2009 08:09

Where to today anyone ???

[hamblyr] 15/10/2009 08:08

Great news!!

[lol short killer] 15/10/2009 08:07

wow, my ote finally..

lol

[someuwin] 15/10/2009 08:03

Excellent.

[5dally] 15/10/2009 08:02

Up we go ;-)

[5dally] 15/10/2009 07:53

Great news :-)

[love it] 15/10/2009 07:46

No stock out there really this in my opinion will double in quick time.

No real hot money as well..

Ill not be selling will try for a top up at the open but not holding much chance.


Good luck all!

[comedy] 15/10/2009 07:45

LOL YIPEEEEEEE. love it kinda explains all the games yesterday. ;) sat on over 200k in smackeroo's here. :)

[bluesky1st] 15/10/2009 07:40

Good call yesterday love it, as you say a good day ahead.


Onwards and upwards !!!

[love it] 15/10/2009 07:16

STAND BY FOR ONE HELL OF A DAY!!!!!!!!!!! Way hay

Refinancing Completed (O Twelve Estates)





TIDMOTE

RNS Number : 7978A
O Twelve Estates Limited
15 October 2009

?


O Twelve Estates Limited ('O Twelve' / the 'Company')


15 October 2009


O TWELVE ESTATES ANNOUNCES SUCCESSFUL RESTRUCTURE OF
GROUP'S LOAN FACILITIES


The directors of O Twelve are pleased to announce the restructuring of the
Group's loan facilities with Nationwide Building Society and the other lenders.
The revised loan terms, which are substantially the same as those agreed in
principle as reported in the Group's results announcement on 15 July 2009, are
as follows:


* The term of the facility until December 2014 is unchanged;
* The facility will reduce to GBP140 million on 31 March 2011;
* The interest margin over Libor will increase from 0.65% per annum to 1.25% per
annum;
* An arrangement fee of GBP850,000 has been paid on signing;
* A fee of GBP5,950,000 will be payable on final repayment of the facility;
* LTV will not be tested until the Lenders receive the portfolio valuation as at
31 March 2011, at which time the LTV must not exceed 85%, reducing to 80% from
31 March 2012 and 75% from 31 March 2013;
* The minimum interest cover ratio will be 115%, provided that, if rent free
periods were treated as rent passing the ratio would be at least 120% until 31
March 2011, increasing to 120% thereafter;
* Cash lock up will continue until the LTV is 70% or less. However, after
deducting finance costs, direct property outgoings and property management fees,
the Lenders will allow the Group to receive up to GBP400,000 per quarter to
cover overheads, tax and other property expenses.

Following completion of the restructuring and payment of the arrangement fee,
cash balances available to the Group are GBP1.5 million.


Phillip Rhodes, Chairman of O Twelve, said:


"The completion of the loan restructuring demonstrates the confidence our
lenders have in the strategy and future of the Company. In addition there are
signs that the unprecedented falls in UK property valuations over the past two
years have now bottomed out, enabling the Board to view the future with
increasing confidence.


"The Group's target area in the Thames Gateway was selected to take advantage of
the urban regeneration and infrastructure projects taking place in this area and
for which the 2012 Olympic Games are a major catalyst. Letting activity over the
past six months has been very positive with ten new lettings totaling 164,000 sq
ft completed, thus reducing the void rate from 12.5% of estimated rental value
at 31 March 2009 to 10.5% today. If lettings which have been agreed and are
currently in solicitors' hands are completed, the void rate would reduce further
to 7%. This activity confirms the underlying resilience of the Group's target
area."