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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Regional Reit Limited | RGL | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.80 | 0.68% | 118.80 | 08:07:45 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 118.00 | 118.00 | 120.00 | 118.00 |
| Industry Sector |
|---|
| REAL ESTATE INVESTMENT TRUSTS |
| Top Posts |
|---|
Posted at 24/7/2024 03:41 by arbus5000 There's a surprising amount of super investors on this thread !Dollar cost averaging, at least in how its used in practice rather than defined on investopedia, is simply averaging your purchasing cost, over several purchases, so the lower (higher) you buy, the lower (higher) your average cost. Its the opposite to investing all in one lump sum. What has been described above is simply regular investing - otherwise iii and the like would give you the option to "dollar cost average" in lieu of "regular investing". You can continue arguing semantics with me all you want, but you know it as well as i do that RGL was a good buy at 10p. |
Posted at 12/7/2024 12:03 by monte1 You may be unable to access through this link as you need to confirm location, acceptance of terms etc. - if not, on website home page click on site map at footer and scroll down to Investors and you will see a folder for Capital Raise 2024, click on that and you will see prospectus in amongst various documents. |
Posted at 12/7/2024 08:54 by hpcg As you are no doubt well aware arbus5000, no one has ever faced any sanction, nor threat of sanction, for any opinion posted on a message board. The reason being that none of what is said here is investment advice, should be taken as investment advice, is the word of the company or should be taken as the word of the company nor pretends to be the word of the company or any other entity in the capital stack. A minuscule minority of "company name" investors are active on message boards, and an even smaller amount of the equity value.We do know what the considered valuation of the equity holders or potential equity holders is - the share price. |
Posted at 03/7/2024 11:11 by chatchat What are folks thoughts on the consolidation?The reasons given in the Prospectuis is that this is being done "With the aim of ensuring that the Ordinary Shares trade at a sensible price, increasing market liquidity and reducing the volatility, as well as making the Ordinary Shares more attractive to a broader range of institutional and public investors" I am not entirely convinced of the reasons - what does "a sensible price" mean? Co is valued at whatever the market thinks it is at the time - so not sure how being 27p or £2.70 changes anything if the market thinks a downgrade or rerate is required. I am not usually a fan as I think they lead to risk of drift down so I am minded to vote against that resolution but would apprecaite others views before deciding. |
Posted at 02/7/2024 12:43 by cruelladeville I think there's a high proportion of small investors doing exactly that. Me included. |
Posted at 02/7/2024 11:03 by monte1 Response received from investor relations at REIT re the ISA ambiguity;“The language “not expected” is quite draconian. I hold my shares in Interactive Investors and the entitlements have all been credited and I have voted on the all 3 resolutions. I hope this helps” |
Posted at 01/7/2024 12:53 by triskelion Page 127 of Prospectus"11.1 Ordinary Shares acquired by a UK resident individual under the Open Offer are not expected to be eligible to be held in an Individual Savings Account (“ISA”). regionalreit com * investors * capital-raise-june-2 |
Posted at 01/7/2024 10:41 by arbus5000 its been noted on the lse forums (unfortunatley they don't benefit from spectoacc et als constant reminders of the 20% void rate, div cut etc) that the prospectus reads as if ISA investors might not be eligible. The language is a bit unclear.pg 127: "Ordinary Shares acquired by a UK resident individual under the Open Offer are not expected to be eligible to be held in an Individual Savings Account (“ISA”)" but ok for sipps "Ordinary Shares should generally be eligible for inclusion in a small self-administered scheme (“SSAS”) or self-invested personal pension (“SIPP”) provided". i have shares in my SIPP and LISA, but i'm with HL and have not heard anything yet. Most other brokers have sent out notificaions of the offer, or so it would seem |
Posted at 27/6/2024 12:15 by mondex From Investment WeekRegional REIT (RGL) has proposed a capital raising of around £110.5m to fully repay a £50m retail bond and prevent going into potential administration or liquidation as early as August. In a stock exchange notice today (27 June), the board said the fundraise would be undertaken by way of a fully underwritten placing, overseas placing and open offer of 1.1 million new shares at an issue price of 10p per share. This represents an 82.3% discount to the last published net tangible assets per share of 56.4p at December 2023 and a 50.4% discount to last night's closing price of 20.2p. The capital raising is being fully underwritten by Bridgemere Investments, part of the Bridgemere group of companies that were the cornerstone investors in the original funds that were restructured in November 2015 to form RGL. The net proceeds of £104.7m, after approximately 5.2% fees, will be used to repay the £50m retail bond due on 6 August 2024. This will eliminate a short-term liability and reduce the constraints of coupon distributions on the bond. In addition, £26.3m of net proceeds will be used to reduce bank facilities, while the remaining £28.4m will be used to provide flexibility to fund selective capital expenditure on assets, which RGL said will enhance earnings in the near term and value in the mid to long-term. Once the fundraise is completed, the trust's loan-to-value will reduce from 56.8% to 40.6% upon completion, based on valuations as of 21 June. According to Winterflood's Emma Bird, the trust's aim to raise more than double the amount needed to repay the bond could indicate board concerns about potential breaches of other debt covenants or the ability to maintain the dividend medium-term without earnings enhancements from CapEx. The capital raising is conditional on, among other factors, the transaction resolutions being passed by shareholders at an extraordinary general meeting on 18 July. If the capital raising is not approved and the trust cannot fund the retail bond liability, it would immediately need to seek new sources of capital. Failure to secure appropriate capital could jeopardise its status as a "going concern", potentially leading to administration or liquidation. In a research note, Numis analysts Andrew Rees and Ewan Lovett-Turner have said the fundraising terms are more "punishing" than anticipated. They noted investors will likely question what other options were considered, instead of resorting to a "hugely dilutive rights issue". "There is the opportunity for existing investors to participate through the open offer, although we fear that retail investors may struggle to participate and risk the significant dilution of not participating," they said. "We calculate this will reduce the NAV by about c.55%, representing significant dilution for any investors that do not or are unable to follow their money." Citing figures from Bloomberg, Numis noted retail investors comprise a significant proportion of the shareholder register, with 13.8% held through Hargreaves Lansdown and 9.3% through interactive investor. "It can be logistically difficult for retail investors via platforms to participate and many may not understand, notice or have the funds available to back the fundraising, leaving a risk that many are significantly diluted," the analysts added. |
Posted at 24/5/2024 09:45 by hpcg RCT - I think most investors are looking to the future, not the present. There are two divergent views. First is that interest rates go lower to a decent degree and that RGLs interest cost over the medium term simply doubles. This is one pillar of supporting the secondary regional office market, the second being a rebound in take up.The alternative view is that interest rates drop a bit, but this sort of area is the new normal, just as it was the old normal. RGLs medium term interest load goes up by a factor of 3. Property investing becomes more difficult because gearing is a natural part of the return structure. There is no rebound in secondary locations, indeed the opposite, where regional prime rebounds well the rest are more like liabilities than assets. Rents don't go up. Refurbishment costs do go up. There is plenty of middle ground of course. I wonder about a few things. First is air conditioning, for two reasons. It never used to be in offices around London, but is now essential as summer temperatures rise and computers on every desk heat the space. I've seen windowed offices in the SE go derelict - retrofitting is next to impossible. Second is the replacement cost; once life expired and with no partss available the machinery needs to be replaced, along with the control systems. I don't know how much of that applies to RGL's universe - I'd say anything south of Birmingham now. Second is if this is the bottom, or just a false bottom. The number of times a bottom was called in retail are difficult to count. I simply do not know the supply demand imbalance to be able to judge. Nor though am I taking the word of insiders. Secondary regional has definitley not turned because a turning market has higher volumes and higher prices. Thirdly is investor interest going forward. Sensibly one would put new equity into a completely fresh vehicle that can buy at the bottom. The GPE equity raise and pupported listing at £500mn of Special Opportunities REIT are some sign. If anyone has seen the prospectus for the latter I would be interested in what they are targetting; publicity says from distressed sellers predominanlty open ended funds. According to the AIC website the targets are " ... student, data centre, industrial, budget hotel and retail park sectors." If those funds continue to suffer outflows then investors are not positive. If the new REIT does not get backers then even fresh equity is averse. Even if it does office is not on their list. |
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