Secure Property Developm... Share Discussion Threads

[spectoacc] 16/2/2021 15:07

SPDogpoo.

Been quiet for a while? Still in some SPDI but if I was buying again, it'd be DCI.

[1tcm1] 15/6/2020 08:28

Spectoacc really makes me laugh. He sits on this thread and innumerable others pompously giving his worthless opinions when he is arguably the biggest loser on ADVFN.

Take this share, for instance. He's already lost a huge pile of his paltry money stash here and is likely to lose more imminently. That is because he simply does not have a clue about investing: he just loves the sound of his own voice.

[russman] 11/6/2020 09:04

Cash balance is dropping.

[spectoacc] 11/6/2020 06:34

And as if by magic..

Decent update, even if the 2nd para doesn't quite accord with the 1st or 3rd.

[russman] 06/6/2020 15:56

Deadly quiet; almost comatose.

[russman] 19/11/2019 09:45

Can't wait for second tranche of Stage 1.

[spectoacc] 30/10/2019 09:24

Got to be one of the strangest co's on the LSE (the similar DCI, & the dire SPPC run it close).

[spectoacc] 11/10/2019 07:46

Been a wee tick-up so checked if I'd missed any news. I hadn't, but did come across this:

"As previously disclosed, SPDI intends in time to distribute the Arcona shares and warrants to its shareholders. "

In time?

[russman] 30/9/2019 08:50

Is there any reason SPDI has to distribute the Arcona shares
Why don't they keep them?

[russman] 01/9/2019 07:05

So SPDI raised some cash to pay the Directors' bonus & advisers' fees.

[spectoacc] 16/8/2019 09:19

Think it's part of the "this is how much value you're getting" NAV calc. ie "NAV is 10 thousand trillion, calculate it off that rather than the shares which are 1p".

[russman] 16/8/2019 08:33

I presume your broker will issue a paper certificate or offer to transfer to your new broker account who can deal them.
Not sure why SPDI have decided to distribute them; admin nightmare for everyone.

[spectoacc] 14/8/2019 13:26

So... assuming my broker only takes UK stocks, what will I do with these shares in Arcona? Oh yes - have to sell them at a humungous discount along with everyone else.

[russman] 14/7/2019 08:20

Its another loss.
Please buy Lambros a calculator.

[russman] 24/5/2019 08:41

Gave up a long time ago. It is all Greek or double-dutch to me.

[spectoacc] 24/5/2019 06:45

More tosh:

" ...including the expected distribution of the new Arcona shares to SPDI shareholders, in June 2019, with overall completion of the Transaction planned in two further steps to be executed within H2 2019."

Michael Beys, Chairman, said; "As we progress towards completing the Arcona deal in three stages over Q2, Q3 and Q4 2019..."

H2 AKA Q4 eh.

[spectoacc] 21/5/2019 07:47

@Babbler post 352 - it's now May, just sayin'.

The sole advantage I can see to this deal (if it gets approvals & actually happens) is that Arcona has made some distributions in the past - not every year, and no guarantees. Otherwise, it's just swapping one illiquid co for another illiquid co.

There's little more disingenuous than:

"...The Transaction values SPDI's Non-Greek Portfolio at EUR29.25 million (based on a net asset value of EUR13.98 per Arcona share), a 96% premium to the entire market capitalisation of the Company based on the closing share price of its Ordinary Shares on 27 March 2019"

...when the Arcona share price is nearer 7 Euros, ie a 50% discount to the c.14 Euros quoted. In other words, no premium to SPDI's share price whatsoever, no 96%.

Also - what's left of SPDI, just the Greek industrial assets? So a tiny, illiquid, shouldn't-be-listed co is about to shrink drastically?

I still hold - not much choice :)

[russman] 11/4/2019 08:21

Still don't understand why Arcona valuation is so much higher than SPDI NBV.

[russman] 10/4/2019 16:26

Arcona are writing up-
Total valuation 95 to 161 = E66m
Net Assets 42 to 78 = E36m
Who would want Arcona paper after this deal.

[russman] 10/4/2019 16:17

Is the non-Greek portfolio valued at E29.25m by SPDI
Arcona are paying 2,102,804 shares, 506,830 warrants and assuming E30m debt.

[russman] 17/2/2019 14:26

No idea what the plot is.

[russman] 11/2/2019 14:32

Just a salvage operation.

[russman] 24/1/2019 12:12

SPDI should liquidate now.
Minority shareholders may get a small return.