Palace Capital Share Discussion Threads

[sefton1] 19/10/2018 02:06

davidosh spam

[davidosh] 18/10/2018 21:50

Just to let you all know that Palace Capital will be exhibiting and presenting at our MelloLondon investor event in Chiswick W4 next month. MelloLondon is a two day event and starts on Monday 26th November through to Tuesday 27th November. You can find out more here...



There will be 65 quality companies exhibiting and presenting plus some very well known investors, entrepreneurs, fund managers and market commentators providing excellent keynote talks on a range of investment subjects. A number of investment workshops will be available each day and a ShareSoc MasterClass on the final day.

[peterjw] 02/10/2018 08:05

Yes indeed. A positive RNS by the look of it.

[davebowler] 02/10/2018 07:46

At last some good news.

[cwa1] 02/10/2018 07:43

2 October 2018

Palace Capital PLC

("Palace Capital" or the "Company")

20 YEAR LEASE AGREED WITH ALDI AT GOSPORT

Palace Capital (LSE: PCA), the property investment company that focuses on commercial property outside London, has signed a new 20 year lease with Aldi, the German discount supermarket chain, at its property in Gosport, Hampshire, securing a 17.4% uplift in rental income.

The asset was originally acquired in October 2017 as part of the GBP71.8 million RT Warren portfolio and the new lease terms are reflective of the long term rental and capital growth opportunities originally identified by the Company and which are being captured through active asset management.

Aldi previously leased a 16,500 sq ft supermarket on the site from RT Warren on a lease expiring in August 2030 at a rental of GBP247,800 per annum. This existing lease has now been surrendered and a new 20 year lease has been agreed with the Company, which also now includes a small amount of additional land for car parking, until September 2038 without break at an increased rental of GBP291,000 per annum. A rent review will be undertaken every 5 years, based on the Retail Price Index with a collar of 1% and a cap of 2.75% which compounds annually.

The property will continue to be held as a long term investment by Palace Capital.

Neil Sinclair, Chief Executive of Palace Capital, commented: "When we acquired the RT Warren portfolio, which was the best portfolio we had seen in the UK property market for some time, we knew that it contained significant latent potential that we would be able to unlock with our asset management expertise, and this new deal is a strong example of that. We have increased our income and lease term to 20 years to a strong covenant which has a positive effect on the value of this property. We continue to actively asset manage the other properties within the RT Warren portfolio and look forward to updating the market on our progress in due course."

[peterjw] 30/9/2018 18:55

Yes thanks. I saw that..so not totally independent but I assume Hardman have to also protect their integrity when they report otherwise they might be seen as adding no value?

[bscuit] 30/9/2018 17:40

One needs to remember Hardman is Paid-for-research paid for by the company and therefore not dispassionate.

[peterjw] 30/9/2018 16:34

An upbeat report I thought.Positive about PCA..but I would welcome anyone else's views as I am pretty new to Palace capital and I am sure some of you will have more background knowledge of them than I have. Any thoughts please?

[dendria] 28/9/2018 16:54

A meaty research note just out from Hardman:

hxxp://hardmanandco.com/docs/default-source/company-docs/palace-capital-plc-documents/28.09.18-initiation-of-coverage.pdf

[hugepants] 26/9/2018 14:18

someone wants out of this gem

[hugepants] 24/9/2018 12:28

contrarian joe21 Sep '18 - 18:33 - 454 of 455
"zero chance of ever raising any equity"

Which is good news. No more dilution!

[cwa1] 24/9/2018 07:25

Dividend Declaration

Palace Capital (LSE: PCA), the property investment company that focusses on commercial property outside of London, is pleased to announce that it will pay a quarterly dividend of 4.75 pence per ordinary share on 19 October 2018 to shareholders on the register as at 5 October 2018. The dividend is in respect of the three months ended 30 June 2018.

[contrarian joe] 21/9/2018 18:33

Thanks Bscuit.

Walking away from the deal a lot more credible than shafting he's own!1,zero chance of ever raising any equity,"will never be trusted again" egos damn egos.

[hugepants] 21/9/2018 09:58

I think there should be a divi declaration imminently. 6% yield now at 313p buy price. 25% discount to NAV. Lowish LTV of 30%.

[peterjw] 21/9/2018 07:36

Sky, Bscuit; this is all very useful thank you. Do we know anything further about the next divi which is due in October? Is it the first interim of their financial year?

[bscuit] 20/9/2018 20:49

Sky, I presume you didn’t like the acquisition. I spoke to Siinclair in Edinburgh earlier this year as a disgruntled holder. He said the MM move and divi position were forced on him by institutions, which begs the question he could have walked away from the deal, but in his view that would send an adverse opinion and hurt future deal funding.
So he had put the company in an awkward place in my view.

[peterjw] 20/9/2018 18:00

Ok I see thank you. Many thanks for your reply, very helpful.

[skyship] 20/9/2018 16:41

Peter - on 19th September last year PCA made a large acquisition funded by a placing of 20.6m shares at 340p inc. a 9.5p dividend for the 6m period to 30th September - ie the dividend not earned by the new holders, so the actual net placing price was 330.5p - a 14% discount to the 385p share price.

Needless to say the shares plunged. It was an appalling pre-emption deal done to satisfy Sinclair's ego - he wished to be CEO of a main LSE-listed propco rather than an AIM listed propco. He made a big thing about that aspect.

The City never forgets; and until Sinclair has gone PCA will always have that deal round its corporate neck!

uk.advfn.com/stock-market/london/palace-capital-PCA/share-news/Palace-Capital-PLC-Further-re-Placing-and-Open-Of/75679025

[peterjw] 20/9/2018 15:31

which deal please? Does he have history? I'm interested in the share but cautious..

[skyship] 28/8/2018 18:21

If you screw shareholders then the City knows you can never be trusted; so PCA will never be given a reasonable rating until Sinclair parts the scene.

I will be reminding him of that fact on the upcoming anniversary of his crassly stupid pre-emption deal..

[hugepants] 22/8/2018 09:38

Discount is approx 20% and 5.7% yield at this price.
Been buying these again. The LTV of 30% compares well with RGL and RLE which are about 40%.

[davebowler] 12/6/2018 11:30

Clumsy wording in Final Results -EPRA NAV per share: decreased by 6% to 415p at 31 March 2018

[1teepee] 12/6/2018 09:09

Not much happening, thought we'd see some action now it's moving up

[danieldanj] 03/6/2018 08:03

Palace Capital (PCA) Earnings-Reaction to Keep an Eye