Panther Securities Share Discussion Threads

[playful] 26/3/2016 22:39

AP is a canny old soul and trousered Beale assets that produces a fair yield. It's a long term hold but just appreciate the entertainment you get from AP and no doubt his future campaign to exit the EU...

[ntv] 21/3/2016 02:41

TTHE BEALE PUCHASE LOOKS AN INTERESTING ONE PAYING 4.5M TO GET 650K OF INCOME
LOSING 200K FROM STORES DOS PUT A BIT OF A DAMPNER ON IT BUT IS EQUAL TO PAYING 4.5 FOR 450K OF INCOME SO 10% INITIAL YIELD.
85K POSSIBLE EXTRA RENTAL INCOME FROM THAT ASSET PLUS RENTING OUT THE SPACE
INTERSTING AS WILL BE THE TERMS OF NEW FINANCING AGREEMENTS
HOW MUCH WILL IT COST TO LOWER THE INTEREST RATES IE BANK FEES
THE BIRMINGHAM ASSET HAS TO BE WORTH A FEW BOB TOO

[topvest] 08/3/2016 21:00

Yes, agreed. Think this was all part of the asset stripping plan, albeit not sure why he ever took equity and preference shares in Beales as it was always going to end this way.

[huttonr] 08/3/2016 17:46

The Beales CVA presents an interesting situation with Beales effectively owned by Perloff and Panther seeing a reduction in rent. I suppose that he knows what he's doing and Panther will do OK from this, but ....?

[patviera] 01/3/2016 19:31

Dirt cheap

[jonwig] 24/1/2016 07:29

About same age as me, then.

[topvest] 23/1/2016 21:17

He's only 71 so he could go on for at least another 10 years before he retires. Property doesn't have to be too hard work! Hope he goes on for many years.

[jonwig] 23/1/2016 14:45

I was looking to invest here and looked back at his RNSs from 2007 onwards. He did amazingly well through the GFC and his only moan was the value of the loan swap, which I see still figures.

Every time I wanted to buy, I was quoted a ridiculous spread (on the phone, not online!) for a derisory number of shares: 225 last time I asked. Maybe there will be the chance sometime, but the othe possibility is that the magic will die when he goes.

[topvest] 23/1/2016 10:56

Yes, he's great. Always brightens up your evening when you have an amusing rambling to read.
Have you seen their head-office....very frugal.
hxxp://www.showcase.co.uk/property/88-94-Darkes-Lane/East-of-England/Potters-Bar/8736924
He likes a bargain!

[puffintickler] 19/1/2016 08:08

tradermel

I can confirm Andrew Perloff never fails to add a set of ramblings to his RNS. You may not agree with all of them but they are always amusing and thought provoking.

I hate to admit it but in a way they are why I invested here.

[jonwig] 19/1/2016 07:21

It's in character! Though I sense his ramblings are getting longer and longer.

[tradermel] 19/1/2016 07:15

What a bizarre RNS

[ganthorpe] 12/11/2015 09:06

I agree that Andrew Perloff is an interesting read , which I always enjoy.

I would have liked to see a note about what his strategy is in tripling the Interim Dividend.It is hard to see a reason for it although it is giving us 6p a share extra cash six months early .
At the risk of being accused of counting the teeth of the "gift horse" , it would be good to know what it is all about.

1) We may get another 9P final - great but prob not?
2) We will get a 3p final and never find out? good chance
3) We get a 4P final and still none the wiser.
4) They flog off some of the recent buys and make a special distribution - sent by the tooth fairy. Not sure who would want the old Co-op stores as they are.
5) Andrew Perloff needed some extra cash after buying Beale PLC so trebled the divi

[glassboy] 18/9/2015 14:33

I imagine the 9p interim and 3p final is simply tax avoidance on the new dividend tax regime from April 2016. Less strategy, more tactics.

I doubt we've seen the endgame on Beale, a skilled asset strip in progress.

Hope to see the silly mark-to-market on the derivative disappear from the balance sheet over the next few years as interest rates rise and term shortens.

Gb

[ganthorpe] 18/9/2015 12:31

Yes . Have to agree this is probably the time to sell some of the properties bought in the 3/5 year ago spree when prices were much lower.
I wonder what the strategy is behind the tripling of the Interim dividend? Can it be a precursor to a sale? I don't see the scope for much of an increase above 3P in the promised final dividend unless there are going to be some biggish disposals in the next few months.
I 've been round a few Beales stores recently and don't see much of a change , so it looks like we will see a steady rate of closures and redevelopments from there in future years. Panther no longer hold any Beale shares but stand to lose rental income if Beales get into more trouble.
Anyway the increased dividend has given the shares a welcome boost.
GAN

[topvest] 11/8/2015 10:55

Think he likes running a PLC and I trust him to do the right thing as he has enough money. If he took it private, he would have no audience for his highly amusing ramblings that we all enjoy (excluding any left wing holders no doubt)! Just think it's time in the cycle that we started getting some good news here. No good news, means he must have lost some of his touch in recent years as now is the time for big profits in the real estate sector particularly when the investments were made a few years back.

[ntv] 11/8/2015 10:46

see web site for properties under offer
surprised he has never taken it private

[ntv] 11/8/2015 10:45

couple of properties under offer might have been the news
not going with common sense on interest rates causes this to be poorly performing because of high interest charges eat away at rental income
selling off assets will with residential planning permission will help profits but more slowly than rest of the sector
a couple of big deals could change things
less expenses will help
worth holding for chairmans rambling in reports!!!!!

[topvest] 10/8/2015 16:07

Thanks anyway. Hoping that the wider regional property recovery will finally impact the Panther tertiary portfolio. To be honest, Perloff has had a very very disappointing 5 years. You almost wonder whether he has lost his touch a bit, through digging deaper holes on Beales and other distressed assets. Lets hope we get some meaningful good news in 2015.

[ganthorpe] 10/8/2015 09:36

What a 2000 share buy can do!
Shares are marked up 15P after a £7000 splurge in Panther shares.
Maybe we have found the magic formula to get the price moving up.
Or maybe not?

[jonwig] 09/5/2015 14:45

Yes, I tried to buy in volume straight after the results but was told only one MM and price quote was only for 1,125 shares, which wasn't worth it.

They had a 'good' financial crisis (08-11) and the rates swap is, I think, irrelevant. Except it should deter them taking it private, as that would probably crystallise the loss. But when P retires and son takes over (?) maybe he has different ideas - and the swaps could go into profit quickly with a rates rise.

[topvest] 09/5/2015 14:19

Well Perloff's ramblings as interesting as ever; Page 3 girls and politicians feature this time around. My thoughts on Panther as it currently stands:
- 10 year performance has been flat - actually very disappointing reflecting too much tertiary exposure.
- Looks like some of the development opportunities are finally moving forward which could crystallize some gains in the next year or two.
- Wimbledon Studio's looks like it has finally come good, but again they invested too much on a loss making venture.
- Beale's is still a concern - exactly what is going to happen to this company under Portnards ownership and how will that impact Panther? I suspect the stores will gradually be released to external parties, but watching with interest.
- MRG Systems is up for sale and profitable - should be worth £0.5m or so.
- 24 year interest rate swap at 5% still costly, but likely to improve (certainly can't get much worse!)
Overall, I'm positive - with a Conservative Government for another 5 years and an improving property market then some of the regional property development schemes can be turned at a profit and reinvested in income producing properties. All subject to Beale's working out I suppose.

[topvest] 19/1/2015 20:17

Yes, all very interesting. Not 100% sure how it impacts Panther as the offer is through Portnard which is Perloff's pension vehicle I believe. Looks to me like Perloff threatened to pull the plug unless his 6p offer was recommended. It will be extremely interesting to see how Perloff restructures / asset strips Beale. Interesting times indeed.