Rdi Reit P.l.c Share Discussion Threads

[baracuda2] 19/5/2021 07:18

Stil no cash received for me yet

[eithin] 18/5/2021 15:39

Just in my cash account. Goodbye RDI.

[baracuda2] 18/5/2021 07:20

It maybe 14 working days

[baracuda2] 18/5/2021 07:19

No cash yet

[eithin] 17/5/2021 17:03

No cash yet must be tomorrow. Anyone had cash ? ?

[eithin] 15/5/2021 16:30

Should be paid prior 18th. May (Tuesday) 14 days from the 4th. My reading correct me if I am wrong.

[arv2168] 29/4/2021 08:17

I couldn't see anything on the official announcement and the timetable on the website hence my question. I may have missed it.

[danny500] 29/4/2021 08:10

Pay Date 14th May according to my notes

[arv2168] 29/4/2021 08:07

HI there

It looks like shareholder and court approval has now been obtained. I was looking at the timetable of events and could not see anything about when shareholders on the LSE would be paid out. The holder on the South African exchange will be paid out on the 6th May. There is also to be a listing on TISE. Anyone have any idea what is happening with UK Shareholders who are still holding?

[grollfam] 08/3/2021 13:40

RDI Reit will get higher competing offer, or an increased offer from Starwood...

IF YOU STRIP OUT THE CASH OF 88.5P , THE ASSETS LEFT, SHEDS,COMMERCIAL, HOTELS & SERVICED OFFICES ARE BEING BOUGHT AT A MASSIVE DISCOUNT ..

The Hedge funds have seen this & are buying at a higher price than currently offered ....

[mister md] 08/3/2021 13:06

Hi SKYSHIP, sorry for the late response - I had previously sold JUP and was looking to add it to my portfolio again. I also added SLI Standard Life Investments Property Income Trust for the attractive dividend.

[skyship] 28/2/2021 10:59

Mister MD - as a matter of interest, why reinvested into JUP rather than another high discount REIT? For instance, MCKS on a 36.1% discount (69.4% Office; 25.1% Industrial; 5.4% Other).

[wunderbar] 26/2/2021 16:25

I have mixed emotions about this offer. Part of me is delighted to get the opportunity to exit this stock with a reasonable profit, more so because it represents 25% of my portfolio (far too high) and will allow me to diversify funds elsewhere. But part of me also thinks Starwood’s offer of 121p (£468m) is not fully reflecting the company’s true potential given the bid comes at a time when RDI are finally getting their act together having almost completed a transformation programme by ridding of retail assets, significantly reducing debt/LTV in past 12 months, and not forgetting they’re sitting on cash pile c.£100-120m.

Last reported NAV was 151.5p (y/e 31 Aug 2020). Note RDI have made a number of disposals since year end results were published, including six UK retail parks for £156.9m in Sept 2020, therefore current NAV will be lower. Today’s RNS states “It should be noted that a revised valuation for the value of RDI REIT's property portfolio as at 28 February 2021 will be published pursuant to Rule 29 of the Takeover Code in the Scheme Document”. Will be interesting to see revised valuation - I reckon NAV c.130-135p which would imply Starwood are trying to buy the assets at a discount of 7-10% based on offer price 121p . Let's face it, you're not going to achieve a premium in this market. Will there be a counter offer? Hard to see this happening as Starwood already own nearly 30% of company. Having only acquired their stake last July c.95p I can't see them letting this slip through their fingers.

If the deal goes through, which it likely will given the board are recommending it, I should imagine there'll be a certain degree of angst among long term shareholders due to the fact RDI turned down Cromwell’s bid of c.185p just two years ago, and arguably the company is in much better shape now than it was then. I dare say some will feel RDI is being taken out on the cheap at a time when Covid has distorted the company’s valuation. My saving grace was averaging down last year when the stock was in freefall (between 45-65p) which means I can exit without losing money. Whilst I don't think the offer fully reflects the company's future prospects I have come to the conclusion it's a fair offer nonetheless, especially when taking into account the dark days of May 2020 when share price hit all time low of 42p, which at the time meant I was sitting on a huge paper loss. With this in mind I'm grateful for an offer of 121p as this gives me satisfactory closure.

I have now sold 75% of my holding and will keep the other 25% for another month or two just to see if anything interesting happens. But all things considered I'm relieved this stock is no longer a burden on my portfolio - just wish I could say the same about Imperial Brands (IMB), but that's another story.

[mister md] 26/2/2021 12:23

Sold this morning and put the proceeds into JUP

[arv2168] 26/2/2021 10:46

Thanks, there was an offer a couple of years ago for 150p per share which disappeared almost as quickly as it was made. Let's hope the competition starts as these are on a discount to NAV and most of the retail has gone and there has been a reduction in debt.

[grollfam] 26/2/2021 10:28

The board has only recommended offer , up to shareholders to accept offer.. market is saying that there could be competing offers, Starwood only owns 29.5% of shares

[arv2168] 26/2/2021 10:15

Interesting developments this morning. I am in at a slightly higher price than the current 121.6p offer price for the whole company. I am wondering if I buy now to further average down thereby further reducing my losses, will that work. Anyone know when the shares are likely to stop trading and the 121.6p price is likely to be fixed? I understand the Board have accepted the offer.

[sphere25] 26/2/2021 08:45

Oh well, there goes the trading share. Been loitering about in REITVille recently. Do we think any other REIT's will follow folks?

It is clear to see bidders are having a good look in the UK. SYNT, SMDS and this all very recent.

Surely more pockets of value will attract attention.

All imo
DYOR

[playful] 26/2/2021 08:43

Well done!

[cwa1] 26/2/2021 07:33

WOW. DIDN'T expect that!

[grollfam] 26/2/2021 07:25

delighted to take the cash in all this uncertainty,

[sphere25] 18/2/2021 15:00

Anddd...one more REIT.

This is an interesting one. Look at the chart here. It is trading heaven. One to trade the range. Again, straightforward to draw a stop line.

All imo
DYOR

[makinbuks] 09/2/2021 09:43

I consider that RNS bordering on misleading. For a start it doesn't say whether the £1.9m effect is positive or negative. Nor does it comment on any read across to the valuation of the remaining Harrow asset. Nor does it say hat the effect of the Molln sale was. I assume all three points are negative otherwise they would have been trumpeting their success. There is no mention of what they originally paid for any of the property

The management of this business have either been extraordinary unlucky or incompetent. Probably a bit of both.

The strategy now looks OK and the discount is huge so lets hope for better days ahead