Share Name Share Symbol Market Type Share ISIN Share Description
R.e.a. Holdings Plc LSE:RE. London Ordinary Share GB0002349065 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  -9.50 -7.6% 115.50 28,210 16:35:25
Bid Price Offer Price High Price Low Price Open Price
113.00 118.00 130.00 115.00 130.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Food Producers 105.48 -5.47 -54.40 51
Last Trade Time Trade Type Trade Size Trade Price Currency
15:57:25 AT 2,000 115.00 GBX

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Date Time Title Posts
23/6/202217:11A quite Palm Oil producer197
22/9/202108:22REA Holdings - chart161
03/3/200517:19REA - one to watch-

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R.e.a (RE.) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2022-06-24 14:57:25115.002,0002,300.00AT
2022-06-24 14:54:53117.607,0828,328.43O
2022-06-24 14:54:52118.003,0003,540.00AT
2022-06-24 14:54:52119.003,0003,570.00AT
2022-06-24 14:54:43118.905,0005,945.00O
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R.e.a (RE.) Top Chat Posts

R.e.a Daily Update: R.e.a. Holdings Plc is listed in the Food Producers sector of the London Stock Exchange with ticker RE.. The last closing price for R.e.a was 125p.
R.e.a. Holdings Plc has a 4 week average price of 115p and a 12 week average price of 115p.
The 1 year high share price is 208p while the 1 year low share price is currently 50p.
There are currently 43,963,529 shares in issue and the average daily traded volume is 44,427 shares. The market capitalisation of R.e.a. Holdings Plc is £50,777,876.
nobull: "The period of strength appears to be receding. Wouldn't be surprised to see further share price falls in the coming days." Yes, except net debt should fall to about $100m (from $170+m now) by early 2024, and if CPO prices stay broadly flat (note the backwardation on the palm oil price curve has recently almost completely disappeared, perhaps indicating palm oil prices are going to be around the $1,000 CIF Rotterdam level for quite some time, albeit our ex mill gate price will be a lot lower than that due to onerous export deductions regime - sure palm oil prices have come down a lot in the last few weeks - the reason for the share price fall?), and if the net debt falls mostly due to coal and stone loans being repaid, then it seems reasonable to just add $70m (for the debt repayment) to the market cap of £54m at £1.23p share price, giving a new market cap of £111m and a new share price of about £2.50p. Panmure Gordon has a target price of £4, but one should never get excited about analysts' target prices, I wonder, and of course we have a speculative risk rating. The share price is volatile, but it's maybe a matter of getting used to it and not worrying unduly about it. No, this is not a stock to bet the farm on. MPE is a safer one, but there will be less gain there, perhaps? JMV. DYOR. AIMO.
dandigirl: I fear the Board have missed an opportunity to do something about the share structure. [Don't ask me what, though!] The period of strength appears to be receding. Wouldn't be surprised to see further share price falls in the coming days.
nobull: This week's share price performance is nothing short of perverse (£1.46 right now). New analyst's forecast out showing eps of 24p for FY2022 and FY2023. I don't really believe these forecasts as I am not sure if they have taken into account the arrears payments on the prefs, which surely would reduce the eps. Yes, I get that the $10m loan interest written off can now be written back (Coal is $385 a tonne right now) and we just need 9 more shipments perhaps to get our coal loans paid off. Net debt needs to come down a lot to get a lower risk rating, so that our shares can trade on a slightly higher PE e.g. 10x - and maybe for that we need a massive extension planting programme to bring down our average tree age to that closer to MPE's, I wonder, so we can have a decent production growth profile, like MPE has. The weak £ must make the pref arrears a cinch to pay now. The analyst gives us a "strong buy". Net debt of say $130m by y/e 2023, better interest cover, pref arrears paid off by then, and maybe a small re-rating - what's not to like? My price target (no, I haven't done any calculations) is £2.50 by end of 2023. JMV.
nobull: "So, despite hurdles set by the Indonesians RE will make record profits." FY2021 is now ancient history even if they haven't reported those results yet. The market has long figured out those will be good (the reason for the 200%+ share price rise in the last 6 months?). What maybe matters now is the current ex-mill-gate price they are getting and how much higher it is compared with the average for FY2021. I think we might be getting about $1,000 a tonne now (compared with, say, $800 last year), assuming they aren't having to sell forward the stuff at a massive discount, all just to pay the bills on time. Yes, the profits for FY2022 (reporting in April/May 2023) should be good, ignoring the effect of the level of pref div arrears they choose to pay out. But it is too early to get really excited about April 2023. Don't forget the dilutive effect of the warrants in 2025. Fingers crossed for these to go to £3 some time next year, perhaps when we can make a real dent on the net debt figure/or get loads of extension planting done on vacant land. AIMO. DYOR.
foxfox79: Disappointing price action considering the sky high CPO prices, makes me wonder what the share price will do when the inevitable fall sets in. Spot prices now above reference surely must translate in nice margins.. The reserves of the south pit seem paltry at 400000 tons. Don't see much of a catalyst here. Any thought on the reserves? I wonder on what the 30M they lent out is spent..
nobull: NTV, hi "Surely just getting the coal out of the ground is a good thing as this means the coal loans might start to be repaid" Yes. And I believe we will get the coal loans repaid. It is maybe an academic point that coal export bans reduce the value of the coal mine, because we aren't technically owners in the sense that our returns from it are not allowed to be variable as they are for someone with an equity interest: we may have bought an equity interest originally in the coal mine, but the Indonesian Government seems to have subsequently outlawed foreigners having equity interests in coal mines. "If there is an export ban surely that means domestic supply problems therefore the CPO price might creep up." I think the Indonesian Govt. wants to keep the price of cooking oil low; an export ban would increase the domestic supply of CPO and therefore drop the price inside Indonesia even further than it already is below the international price, currently below the international price due to the export deductions regime that applies. A reason for the export deductions regime is to keep the price of cooking oil low (as well as make biodiesel-use of palm oil more economic - the export levy is probably used to subsidise the production of biodiesel?). The problem of subsidy leakage is probably about stopping entrepreneurial Indonesians buying up all the bottled cooking oil and smuggling it to Singapore to sell it at the world price, thus pocketing the government subsidy for themselves. I think with the high leverage (both operating and financial) we just have to expect the share price to go all over the place, annoying, but par for the course with a stock like this, I wonder? The flat lining for over a year was maybe an anomaly as we worked solely for the benefit of the prior ranking finance, I wonder?
nobull: Yes, today, CPO must be close to $1,400 CIF Rotterdam if the futures prices today on the BMD are anything to go by... MPE said their average ex-mill-gate price last year was $810 (the trading update on 17 01 22), a figure that maybe is not a simple average of all the FY2021 trading days' closing CPO prices, like the above stupid averages of ex-mill-gate prices I have calculated, but which is probably a weighted average price, particularly if it is determined by the volumes of CPO sold on particular trading days. I agree things are looking good despite today's share price fall. We should get a trading update soon.
nobull: CousinIT, yes, they cut the top rate of export levy from $255 to $175 in July, but in early December 2020, the highest export levy chargeable was just $55: they almost 5 timesed the highest rate of export levy payable - that's shocking. My point is I don't think one can expect the share price graph to go up as steeply as the share price declined in April 2020 because of this. Were the old, early December 2020 deduction regime to have continued, we'd have absolutely cleaned up and repaid masses of debt and cleared the pref arrears by now, I wonder? Yes, I get that they are entitled to take back some of the benefit for supplying extra CPO demand.
nobull: Wigwammer, seasons greeting to you too. No, I haven't been selling - couldn't if I wanted to. ...the palm oil price is currently 50% higher than in the prior 2016/17 peak. So when you say the government is taking a lot more this time, it is a lot more of a much bigger pie. Can you be more specific about how much is “a lot more” as a percentage of sales?" The short answer is no. The unhelpful answer maybe is I am thinking about the whole cpo price cycle, going back at least 10 years. I just get the impression that the amount of levy and tax being taken compared with 10 or 12 years ago, when CPO price was around this level, is a much bigger percentage tax take. The higher percentage tax take seems more like an opportunistic windfall tax than a justifiable reward to the Indonesian government for its creation of extra cpo demand by legislating compulsory use of biodiesel; it feels like an extra tax to take away the benefits we've got from other parts of the world suffering from a poor soy bean harvest, which is not a nice thing to do: we need the high profits of the good times to help us keep going during periods of low CPO prices. An indication of how the CPO export deductions regime changed in December 2020 is here: "As such, the export levy will be raised by US$12.50 to US$15 per tonne for every US$25 per tonne increase in the CPO reference price beyond US$670 a tonne and up to US$995 a tonne. Previously, the export levy was fixed at US$25 to US$55 a tonne for CPO and processed palm products regardless of CPO prices." Source: hTTps:// So I expect our share price to climb back to its former levels (over £2), but maybe not as quickly as it declined at the start of the pandemic; a slower rate of recovery seems more likely because of the higher tax take and because of the anticipated dilution from exercise of the warrants in 2025 or whenever. While I have forecast 8p eps attrib to the ords for FY2021, arguably using a method of questionable validity, I can't see how FY2022 will be profitable if we have to pay out 10p arrears to the pref holders. I hope for a share price of £2 by YE 2022, despite the grotty FY2022 eps outlook, grotty because of the pref arrears planned to be paid, not grotty because of there being anything unsound about our business model. CPO futures prices at 6:15 pm today in KL, the front month price of which ought to keep the Rotterdam CIF spot price above the key $1,300 level, I hope. Below is an excerpt of a spreadsheet comparing the three London listed palm oil producers, using their 2020 accounts. What is interesting is how their total assets are quite similar. However, the market caps, even if you don't use the out of date share prices used in the comparison are wildly different. The companies differ in the amount of equity supplied by the non-controlling shareholder (minority interests) and in the amount of debt used to finance the operations. Imagine if REA could just pay off all that debt and redeem the prefs, using funds generated from operations, then its market cap would need to go up 5 or 6 times what it is now, if it kept the same no. of shares in issue. AIMO. DYOR.
nobull: Absolutely brilliant, CWA1, that last announcement. There's a real brain there on our Board, for sure. Over the moon to see evidence the BoD is going to work for us. Very happy indeed! kadvfn1, the warrants excercise at £1.26p around the time the sterling loan notes are due for redemption, bringing in £5m to help redeem some of the loan notes. Yes, it causes dilution but you can't have everything. If the share price didn't reach £1.26 before then, the warrants would expire worthless. The 6.5p price reflects the long time value of the warrants as they are said to be "out of the money" right now. Hope that helps. Yes, Mr Robinow wouldn't be buying them if he thought he was going to lose his money. ATB. "It is proposed that each warrant would be exercisable quarterly on 15 January, 15 April, 15 July and 15 October in each year up to 15 July 2025 on not less than 14 days' notice of the exercise. The first exercise date would be 15 January 2021." (Source: hTTps:// ) Warrant strike price "Pursuant to the enhanced proposals, REA Holdings will issue Noteholders with a total of 4,010,760 warrants each entitling the holder to subscribe one new ordinary share in the capital of REA Holdings at a price equal to 20 per cent above the average of the middle market quotations for the ordinary shares on each of the dealing days between 26 February 2020 and 26 March 2020 (inclusive) (as derived from the Daily Official List), payable in full on subscription. Such subscription price has now been calculated to be £1.26 per new ordinary share.” (Source: hTTps:// )
R.e.a share price data is direct from the London Stock Exchange
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