Secure Property Developm... Share Discussion Threads

[pdosullivan] 17/6/2024 10:10

EGM called for 10 July to enable the distribution of Arcona shares to SPDI shareholders.

[pdosullivan] 23/5/2023 12:44

Interesting to see that Nat Rothschild has sold his 6.6 percent stake in SPDI, with management picking up nearly all of it. While I would ordinarily be happier to see Rothschild on the register, that company insiders are the buyers is something to take reassurance from.

[pdosullivan] 14/8/2022 09:37

Hi all. I have written a blog about SPDI, which I am a shareholder in, that may be of interest to you. The blog can be found here: https://tbifund.wordpress.com/2022/08/13/eep-eep-ln-spdi-spdi-ln-the-alchemists/

[pdosullivan] 03/8/2022 08:19

I suspect you are right. But that will not be a game changer. The Group only has one Romanian logistics facility, a building let on a long lease to an international school, a handful (at most) of Bucharest apartments and two development sites in Kyiv left. The first three of those could be monetised easily enough.

[russman] 03/8/2022 06:59

Doubt Stage 3 will ever complete.

[pdosullivan] 02/7/2022 07:52

Results were out on Thursday. NAV is 15p/share or c.12p/share if you exclude the value of the remaining Ukrainian assets versus a share price of 6.25p.

[pdosullivan] 01/10/2021 11:16

Included within those are a lot of one off items linked to the asset transfers.

[russman] 01/10/2021 03:46

"overheads" are enormous. Struggling to breakeven.

[pdosullivan] 30/9/2021 18:16

Solid interims. NAV of 15.7p versus a share price of 7.5p.

[russman] 22/9/2021 20:09

& which uk broker are you going to use.

[pdosullivan] 25/8/2021 16:28

Arcona interims out today - they are looking for approval later this year to do a buyback.

[russman] 25/8/2021 16:26

& how are you going to shift this Ancona paper.

[pdosullivan] 07/8/2021 08:00

You old cynic! I think we are close to an inflection point. The Arcona NAV went up in Q1. There are a number of other swing factors (litigation etc) that could have an impact on NAV to be fair. I blogged about this here: https://tbifund.wordpress.com/2021/07/03/stocks-update-3-july-2021/

[russman] 07/8/2021 06:38

Bad to see steady decline in NAV per share.

[pdosullivan] 09/6/2021 17:00

Good to see a steady upward move in the share price.

[russman] 10/5/2021 19:41

After his amazing performance at SPDI; Ancona must be desperate.

[pdosullivan] 10/5/2021 09:11

I see that the SPDI Chairman is being proposed to join the board of Arcona at the AGM on 16 June, which is likely a positive sign on the progress on the acquisition of SPDI property assets by Arcona.

[russman] 03/5/2021 20:05

Both very illiquid investments.
Doubt there will be many buyers for this confetti.
Ancona may buyback at a discount to NAV

[pdosullivan] 03/5/2021 06:58

It has taken an infuriating length of time but I see potential upside for SPDI shareholders from Arcona renegotiating loans on more favourable terms - year to date, such deals have shaved €400k a year off the Arcona interest line and also from piggybacking on asset management initiatives from Arcona

[russman] 03/5/2021 06:38

Risky & poorly executed deal.
Cannot see that it ever added any value.

[pdosullivan] 02/5/2021 23:17

Arcona issued its FY results late on Friday. The Dutch group that SPDI is merging with said that it expects to exchange shares for SPDI's Ukrainian landbank and Romanian commercial property assets before the end of H1 2021.

[spectoacc] 20/2/2021 07:59

Yes - someone sold 78k and the best the MMs gave them was 4.3p. Hence they ticked down the price.

[russman] 16/2/2021 20:07

Opaque. No idea what is happening.

[pdosullivan] 16/2/2021 15:09

We are long overdue an update from these guys. The Arcona transaction has really dragged on.