Phoenix Spree Deutschland Share Discussion Threads

[jonwig] 10/7/2015 07:09

"BUY" tip in IC this morning. Result: the normally tight spread has widened and I was quoted the full offer (147.5). Bid 142.75. Left it alone.

[jonwig] 26/6/2015 08:12

Some key points:

• NAV at 31 Dec 2014 168p, EPRA NAV 160p. Full valuations Dec, updates June.
Using current exchange rates, EPRA NAV translates to 145p. (Forex 1.41 vs 1.28.)

• Initial dividend 2.5% of NAV, annually. Progressive thereafter. Declared in euros, paid in sterling.

• Property advisor fees basically 1.5% of NAV and performance fee 20% of uplift if NAV growth exceeds 8%pa.

• Simplistically, gross assets €160m, liabilities €60m, equity €100m.

• Approx. 70m shares admitted.

• Predominantly residential in major German cities. mostly Berlin.

Worthwhile investment proposition? Chief risk is currency.

[jaws6] 15/6/2015 08:12

please See DT Annington news today .just google
They non stop talking on CNBC

[jonwig] 15/6/2015 07:42

jaws - haven't bought any, as haven't really had time to digest the prospectus.
Company seems to have a good history - not a start-up.

Will euro fall badly against sterling if a Grexit?
If so, might buy on that scenario.

[jaws6] 15/6/2015 07:39

Jonwig
Good luck with new thread.
D annington and another German property news will bring some more fun here.

[jonwig] 15/6/2015 07:39

First dealings today.

According to prospectus (June 2015):

NAV (basic) €2.16, £1.68, (EPRA) €2.06, £1.60.
Opening quote 148-153.

[jonwig] 15/6/2015 07:34

. .



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Major holdings (total 69,872,298 shs):
Royal Bank of Canada ... 2,861,136 4.1%