Panther Securities Share Discussion Threads

[hybrasil] 22/7/2014 10:56

He has to be the best at corporate statement. I look forward to his annual statement. What a breath of fresh air in the turgid world of RNS's!!!

[topvest] 22/7/2014 07:43

What a classic RNS:



Fantastic...Perloff at his best!

[ntv] 21/4/2014 12:56

the land in Wimbledon should be worth a fair few million. I wonder what the cost was?

[topvest] 27/1/2014 21:16

Unless he is at the table on the way forward - never can tell with Perloff. Have to wait and see.

[hybrasil] 27/1/2014 10:10

How unlike Mr Perloff. As Skyship has pointed out he invested in albermarle- looks like he didnt win that one.

[topvest] 28/12/2013 13:06

Yes, it is a concern. However, I do think Perloff knows something we don't - I'd be surprised if he takes a big hit as the current outcome was fairly predictable on day 1. I was very surprised by the Beale deals at the time and so there must be a positive angle somewhere or Perloff wouldn't have taken the risk. He also owns 30% of Beale.

Always prepare to be surprised on Perloff - a good example is 012 Estates; Perloff didn't lose money I believe, whereas pretty much everyone else (including myself) did!

[ganthorpe] 28/12/2013 12:44

Reading between the lines Wimbledon has not built up as hoped and out of date kit is being blamed and PNS are not putting up any more money.Presumably PNS are hoping that someone will take it off their hands , otherwise they will have to see the tenants out and redevelop the site , which might be a more profitable outcome.
I am a bit worried about the large exposure to the Beale/COOP situation as retail sources indicate that trading in the former coop stores is very weak and may end up in closures rather than realistic rents. Again I am sure that PNS looked at the redevelopment potential before going in , but if several go at once it could be a big problem to deal with. Since we have seen little income so far , it would be a case of income deferred rather than a loss of revenue.
I may be way off beam , but in any case I am not a seller.
It's all about risk and Andrew Perloff knows it all in property.
GAN

[skyship] 07/12/2013 16:04

Hi Hybrasil - are you still around perhaps..

Dropped in here after noticing that Perloff has bought 800k ABM @ 15p - not one to waste his hard earned, so perhaps he sniffs a good deal.

All very interesting.

Incidentally, what happened to The Wimbledon Studios - have they gone into Administration or some such?

=====================
Para from recent IMS:
"It has, however, become quite clear that any potential investors considering
investing in the upgrade of the studios would wish to own the freehold. The
property, which is owned by Panther, has over 200,000 sq. ft of studio/office/
leisure space on a site of 4.25 acres. Panther has therefore agreed with
Wimbledon Studios that it would be prepared to sell the freehold or grant an
option to a suitable studio purchaser who invests in the studios and assists
the management buyout."
=====================

[hybrasil] 07/11/2013 16:54

Pity about the studios

[topvest] 28/8/2013 20:33

Interim results looked pretty good today. Perloff's ramblings are as entertaining as ever - thanks to Mr P. for bringing some humour and great comment to the listed property scene...if only others were as insightful. His ramblings always make me smile!

[topvest] 04/5/2013 20:24

Annual Report out - Perloff as interesting as ever...turned to UKIP as well which really doesn't bode well for the Conservative Party if long term supporters such as him are defecting. Results look ok, but should improve this year as the various lease incentives come to an end. I'm still a bit nervous about the exposure to Beale PLC, but I suspect Perloff has seen a smart angle on this that others haven't. Lets face it Perloff even seemed to make a decent profit on O12 Estates - he knows how to pick up a bargain!

[topvest] 05/12/2012 12:27

I disagree with you - lots of American companies are set up in this way. A witch hunt just drives these companies away. We should be open for business in the UK, with minimal corporate tax rates so we attract more companies that employ more people and pay NIC and PAYE etc.

[jeffian] 05/12/2012 09:21

Aye, and not only small coffee shops, but ANY shops which are UK domiciled, hence my Marks & Spencer analogy. I recently sold some stuff on ebay for the first time. I'm British, living in the UK, selling British goods to another Brit living in the UK and the fees were charged by..........eBay Europe Sarl (based in Luxembourg). What's that all about? (I think we know).

[puffintickler] 05/12/2012 08:57

I agree jeffian. Starbucks have avoided the taxes that the small coffee shops pay. If Starbucks had not come to the UK the money via their turnover would have been spent in local shops that would have filled the void and more tax received.

The coffee would have been better too.

[jeffian] 04/12/2012 23:05

Yes, but it's b*ll*cks. Maybe Panther have a lot of Starbucks tenancies. Of course they pay a lot of rates, VAT and NIC. All retailers do. The difference is that after MKS pay all those things too, they then paid 25% of their net profits (£168m) to HMRC. Starbucks paid nothing.

[topvest] 04/12/2012 20:33

Yes, always a good read. His comments on Starbucks are very good and shows how one sided the media get when they find a good story.

[jonwig] 04/12/2012 12:12

... but nothing at all to do with Panther Securities!

[peterbill] 04/12/2012 11:15

Good read ...

[topvest] 25/4/2012 19:34

EPRA net asset value is 515p versus 397p IFRS. I tend to ignore long term swaps at 5% as, while a technical liability, it's not really an issue and will probably come good long before the end of the term unless interest rates stay at zero for ever!

Property valuation uplift is highly impressive, albeit a directors valuation this time around. They are investing in secondary property, so that sort of uplift is highly impressive!

[topvest] 25/4/2012 19:11

Very interesting that they made a profit on the 012 Estates shares - just how much did they buy these for then - must have been a distressed seller that they picked them up from? I'm impressed that Perloff made a profit on O12 - not sure anyone else has!

Anyway, results fairly good if you ignore the interest rate swaps. Property valuation uplift is impressive. They are a bit exposed to Beale plc, but Perloff knows what he is doing.... a very smart cooky!

Pleased that they have held the dividend. Things will start looking nice again as all the rent free periods expire.

[pifedayo] 25/4/2012 08:05

Panther has managed to maintain the full year dividend at 12p with 9p payable on 31 July to those on the register 6 July.

The final results make an interesting read, especially the loss on financial derivatives and Perloff's comments on tax changes. Nrvertheless he remains a staunch Conservative Party supporter.

[ganthorpe] 11/4/2012 16:23

Results due about 19 April , but only a guess as they don't pre-announce the date.
Share price drifts as no IMS or progress report ( except prop deals) from October to April). I did suggest an IMS in January following the year end would be helpful but didn't get a reply.
I would expect a 9P final divi bringing the annual total to the usual 12P , but who knows , other than Perloff and Peters.
Have to agree about doubts on Beales chances of sorting the Coop stores , it is a weak sector and I don't rate Beales top management.But probably OK for Panther as the fall back is redeveloping cheaply bought stores if they fail.
GAN

[pifedayo] 29/9/2011 11:15

SP continues its downward trend. It cannot all be due to the reduced interim dividend.

[pifedayo] 21/9/2011 08:31

An unusual downwards move today - the usual amounts are 5p.