Quadrise Share Discussion Threads

[scburbs] 30/8/2011 14:21

"Quintain has completed two new student accommodation buildings in London, which will deliver close to 500 new bed spaces.

Quintain has developed the new 257-room iQ Hoxton which it will manage on behalf of the iQ fund, its student accommodation joint venture with the Wellcome Trust.

Located in London's east end, close to zone one transport links, iQ Hoxton represents the fund's twelfth completed student accommodation asset bringing the total portfolio value to over £310m.

The development will open to students in the middle of September and is already 90% let. The cluster flats will achieve rents of £199 to £210 a week and studios range from £245 to £275 a week.

Quintain has also compelted Dashwood Studios, located on Walworth Road, just three minutes from Elephant & Castle tube station.

Dashwood provides 232 student studios and will open for this academic year. It is already 84% let at rents of between of £220 and £280 a room. The asset is held outside of the iQ fund and is managed by Fresh Student Living.

David Gavaghan, Quintain's director of fund management said: "London continues to lead the UK in terms of student numbers with a full time student population of circa 284,000, which is larger than the next five largest student markets combined. It also has a low supply ratio. We have launched these two new buildings, both of which are achieving strong lettings, which we believe is in recognition of the location, the quality of the buildings and the services offered.

"Furthermore, the opening of these assets represents a step forward for Quintain in delivering its operational milestone of increasing income and profit contribution from its fund management division.""

[wendsworth] 30/8/2011 11:08

September will be a good month for QED. Some positive RNS's in the offing.

AGM scheduled for the 5th. Could be some interesting announcements to come.

[skyship] 26/8/2011 17:19

Link to the CP+ thread - ADVFN having problems with non-alphabet symbols in the EPIC box, though hoping to sort it soon!

[wendsworth] 26/8/2011 16:20

Visa33 : I've topped up today at 41.5p and doubled my holding. How's that for encouragement?! I'm confident I'll double my money on today's purchase.

On a general note I'm really content to follow Laxey and reckon there will be some corporate action by way of bid interest sooner rather than later.

[targatarga] 25/8/2011 15:07

Interesting trades today... Loads of at's and a large o trade of 100k...

[lyntwyn] 24/8/2011 11:05

no worries folks, nothing's changed at QED. QED just one of those stocks which makes exaggerated moves, either way, with the markets. When september comes it will roar back towards 60 (I hope). i.e. unless a bid comes in the meantime then 100 could be in sight.

[visa33] 24/8/2011 10:03

When r our next results...where's wensworth for some encouragement?? :-)

[dope007] 24/8/2011 09:43

Aye looks like the handle fell off!!!

[red army] 24/8/2011 09:42

So much for cup and handle chart patterns

[davidosh] 24/8/2011 09:34

Anyone going to the Agm ? Share price off by 40% in the last month so there should be a few of you wanting to meet management surely ?

[wibbler007] 16/8/2011 16:22

Of the 2 I prefer spreadex on stocks. They also do Quintain online

[targatarga] 16/8/2011 15:33

Wibbler - thanks....

[wibbler007] 16/8/2011 15:32

I use Spreadex and ETX capital. Spreadex do daily and 3,6,9 month contracts. ETX is daily rolling contracts on stocks with 3 monthlys on the indexes.

[targatarga] 16/8/2011 15:10

Wibbler - well put... Heard many a scare story regarding spreads/cfd's. Who do you use... tia

[wibbler007] 16/8/2011 14:10

targatarga I used to do t20's years ago and then moved to spreadbet for all the ovious advantages.

Take QED for example. T20 10,000 shares and first off you will pay a t20 premium, then you will pay commision, then you will pay stamp duty. When you sell you will again pay comission and worse still you are time limited and the MM's know you have to sell or roll when you get down to t-2 on the trade

Now if like I have in the past t20 alot and have done well you then have a CGT tax bill

On spreadbet you buy £100 a point with a tiny - small premium for the spreadbet on an up to a 12 months contract and that is it until you sell it. The only people who go bust on spread are those who overleverage on it. If you can afford 10,000 shares on T-20 then you can afford £100 a point QED on spread without all the extra associated costs

[targatarga] 16/8/2011 13:52

Wibbler007 - maybe my risk threshold is different to some.... Do spreadbetters/cfder's generally make money.... tia

[wibbler007] 16/8/2011 13:44

Why t20 when there are CFD's and spreadbets?

[targatarga] 16/8/2011 13:35

anyone considering a t20... wouldn't take much t o get back to 50p.... imho

[judgement] 12/8/2011 23:35

Always good to know remuneration going forward will be based on hard goals rather than discretionary performance. Quintain's performance against IPD has been an issue in my view in recent times since the Rights Issue. Let's hope that this goes an important way towards helping to reverse that situation rapidly.


Or may be based upon finding the right valuation partner...

[jaws6] 12/8/2011 08:15

Data problem now 46.25 48.5

[aberdare] 12/8/2011 08:06

Hello Whats going on this am still in au at 8.06

[quepassa] 11/8/2011 15:16

Quintain have posted their AGM Notice to be held at 10am on 5th. September at their Grosvenor Street HQ.

This is a link to Quintain's AGM NOTICE



Contains much of the normal stuff. But also contains much interesting detailed info about remuneration packages for top management.

Quintain really seem to have taken on board the great importance of improving their NAV and are seemingly building this into remuneration packages for key personnel.

Quote: "For some time, the Remuneration Committee has recognised the need to establish new reward structures which are
properly aligned with the long-term success of the business. The key objective was to implement arrangements which
incentivised executives to demonstrate the necessary dynamism to support future success, and which also establishes a
firm relationship between performance and reward and long-term shareholder interests and value growth."UNQUOTE

Also. QUOTE: "This approach will also help manage dilution, and reflect wider investor sentiment favouring reduced award levels where
share prices have fallen." UNQUOTE

The proposed New Long-Term Incentive plan is encouragingly based on NAV performance against IPD.

It additionally looks like the Annual Bonus will be part-based on NAV PERFORMANCE AGAINST IPD index, and part-based on ABSOLUTE NAV Targets (..."reflecting shareholder feedback"...).

This is excellent news and will ensure that management are incentivised to pull all the stops out.

Always good to know remuneration going forward will be based on hard goals rather than discretionary performance. Quintain's performance against IPD has been an issue in my view in recent times since the Rights Issue. Let's hope that this goes an important way towards helping to reverse that situation rapidly.

Good to see that Quintain are listening to and acting upon shareholder feedback. Well done Laxey (amongst others). The Chairman has also done the right thing in taking a 10% cut in his fees.

ALL IMO. DYOR.

QP

[lyntwyn] 11/8/2011 08:48

Yesterday was, on balance, not the greatest day for an urban regeneration specialist to announce progress on its two key London projects. The statement from Quintain Estates & Development contained some encouraging sentiment over the long-term prospects for the capital's property market, but there is no doubt that, in the nearer term, riots and stock market mayhem are negatives.

Quintain's two big schemes are Wembley City and in Greenwich. The company is possibly best remembered as one of the worst investments of the old HBOS, which lent it £220 million and took a 14 per cent stake at a price rather too painful to contemplate now. Quintain almost breached banking covenants at one stage but is now in better health.

Given the huge size of the two schemes, the company's strategy is to find joint venture partners to help to fund individual projects. This summer it signed up Keystone Partners to take a student accommodation block at Wembley. Pending deals there are a partner for the Hilton Hotel and for the London Designer Outlet retail park.

Lloyds Banking Group, which took over HBOS, remains as a supportive lender, though the company has also brought in Barclays and has renegotiated a large chunk of debt through to 2016.

This is significant, because a huge swath of property debt is set to mature and requires refixing over the next couple of years. Quintain is leaking a small amount of cash each year as its two main projects near completion but hopes to be cash-neutral next year.

The shares have been caned even worse than the rest of the sector over the past month and are now on a discount of about two thirds to net asset value, which looks a bit overdone.

But in the light of current events it is hard to see sentiment in the market shifting soon. Hold. (todays Times)

[jaws6] 11/8/2011 08:44

Plans to develop two residential plots at Pensinsula Quays in Greenwich, south London, are also progressing. Preparation work that will enable the rebuilding of the river wall as well as other infrastructure and ground works is expected to start soon.

"Fund Management is ... making good progress, with the first phase of its science park and more student accommodation developments approaching completion," said chief executive, Adrian Wyatt.
The company is working towards reducing voids across the business, and has successfully concluded a number of small lettings as well as rigorously controlling overheads.

Peel Hunt, which rates the stock as speculative "buy", notes that the company is 63% composed of two very large-scale regeneration projects at Wembley and Greenwich.

"The strictly theoretical DCF [discounted cash flow] valuation is calculated with potentially contentious assumptions and we expect the shares to reflect this by continuing to trade at a significant NAV [net asset value] discount," the broker said.

"Nonetheless, the current 66% discount seems too large in our opinion and with continuing step-by-step progress we remain supporters of the stock," Peel Hunt concluded.