Panther Securities Share Discussion Threads

[ntv] 19/10/2017 16:27

selling these development sites and investments that are not producing any income will give them a chance to buy assets that are income producing

[ntv] 19/10/2017 16:20

Didn't get mentioned in half year results either that came out a couple of days after the sale was completed
Good spot Jeff

[jeff h] 19/10/2017 12:14

Probably too small a disposal to warrant a separate RNS I guess NTV.

[ntv] 19/10/2017 08:31

You are right Jeff. Dual holding via Panther and his pension fund
More cash for the Bank account
would have thought that the company would have issued a RNS

[ntv] 19/10/2017 07:14

when was that Jeff, i thought Mr Perloff'S pension fund owned the stake

[jeff h] 18/10/2017 17:38

They sold their stake in EKT as well so that is another £0.5m

[ntv] 18/10/2017 14:33

Further improvements in nett asset value should come from rising interest rates as this will feed straight through to the bottom line because of movement in derivative financial liabilities.
Also as the date of the loan repayment approaches then the liability should reduce even though this is still some way away

[ntv] 18/10/2017 14:27

Nottingham factory sold on an exit yield of 5.7% and Money from Croydon flats due at the end of this month bringing in nearly £1m
these monies will help pay the two recent purchases in Scotland.
a site with rental income of £50k and a leasehold property with rental income of £300k after all costs
approx cost £3m with developement potential

[ntv] 18/10/2017 13:37

I have been trying to work out the amount of cash that should be coming in to the company over the next few months
another £10m to come from Birmingham and say £2.5m from Wickford
Swindon planning could be worth another £4m maybe but that is dependent on planning approval
so this will give them some funds to increase rental income over the next few months to a year and hopefully increase the dividend to at least 15p

[topvest] 26/9/2017 19:32

Yes, encouraging. About time though. No mention of Beale's which, in the circumstances, is surprising.

[ntv] 26/9/2017 14:42

large increase in asset value and more to come when Birmingham land sale is completed
if they get their planning through in swindon next year that will add a fair bit as well
Useful profit to come from the sale of land in Wickford soon as well
doing well now despite interest rate costs

[ntv] 31/8/2017 17:08

ok, thanks Jeff probably sipping or something similar

[jeff h] 31/8/2017 16:54

The transaction relates to Harold Perloff's stake.

[ntv] 31/8/2017 16:18

share buyback?
that is a big trade for this minow

[ntv] 13/7/2017 12:07

thanks for the imfo GB

[glassboy] 12/7/2017 22:06

Looks like this was John Doyle's shareholding, the executive director who left in June.

[ntv] 12/7/2017 18:11

interesting buyback
plenty of cash to back up further purchases
will there be any more?

[topvest] 07/6/2017 17:27

Yes, looks positive. I wonder how much this site originally cost? Not quite clear on why there is a 6m delay until completion. Makes you wonder what other hidden value lies within their portfolio.

[ntv] 07/6/2017 08:53

nice sale
deposit soon , rest in 6 months

[simon templar qc] 02/6/2017 18:24

Panther missed this one with a higher yield than Wayfarer...

[topvest] 07/5/2017 10:30

Been looking through the results. The standout negative is the Beale department store exposure which has cost them at least £1.5m in bad debts and lost rent in 15/16. Looking at the Beale accounts, they still look pretty well bust and are being supported by Portnard. It is difficult to see what angle Perloff really has on this disaster. Looks like he has headed into a value trap.

William Nash plc stake sale of £1.5m and development site potential upsides are the better takeaway points. 12p dividend is OK. Swap accounting is irrelevant.

I think Panther has performed very poorly in the last 5 years really, and this is primarily due to Beale - the initial rent free periods and then bad debts. Basically, they paid a lot for some loss making Beale stores that have never really paid their rents.

Happy to hold as hopefully some hidden value, but won't be topping up.

Worth holding for the Ramblings entertainment as ever.

[ntv] 26/4/2017 07:55

guessed right on income from lord street properties but results hit again by interest rate swaps
lots of things going through the planning stages but taking time as usual
update on purchase from palace capital plc, strangely they never released an RNS for that one
lots of cash come in since the year end that will help fund building work

[ntv] 25/4/2017 10:11

maybe some news due on birmingham site where they have 487 units ready for sale or redevelopement
plenty of other planning permissions are being sort elsewhere so hopefully a few sales over the next year

[ntv] 25/4/2017 10:09

hhmm
not that worried as they only paid £4.5m for property with 8 vacant units
assuming these extra ones are now vacant reducing income to £575k
still a good yield on the purchase price.
i also assume that once the beale lease comes up for renewal it would reduce income down to £450k per annum
leaving it on a 10% yield which would be about right

[simon templar qc] 25/4/2017 09:19

NTV

Just to let u know letting situation at Southport Arcade worse. The agent not updating the empty units properly there are more empty lets than on their site. I reckon its more like 13 or 14 now.