Sirius Real Estate Ld Share Discussion Threads

[praipus] 31/1/2011 14:26

Hope so. Only down 19% now!

[holliss] 27/1/2011 00:07

Last Friday James Mackintosh wrote in the FT that 'last year German growth was at its highest since 1991. Unemployment fell to its lowest level since 1992. IFO business climate survey have never been more optimistic...the question is how to profit from this. Inflation should rise and Commercial property should benefit from loose monetary conditions, making Commercial property a likely play'

With 200m net assets and 300m borrowing, a 4 or 8% rise is commercial property prices will increase nets assets by 10 or 20%, of course the flip side is true. I've joined you Praipus and bought some of these, a 58% discount is too much, we should see improvement by spring 2012.

[holliss] 26/1/2011 16:23

The trust is set to run to 2018 but...
'The Management Agreement may be terminated earlier than 2018 by the Company on 12 months notice to the Asset Manager, expiring on either the fifth or ninth anniversary of Admission if the Group fails to achieve a net asset value total return of 6.5% p.a. in the Company's four financial years'

Admission was on May 1st 2007, and as net assets have fallen, I believe this will mean a shareholders continuation or wind up vote around May 1st 2012.

[praipus] 18/1/2011 15:29

Thanks holliss. Not looking very clever here for me off 24% now.

[holliss] 21/12/2010 15:11

Praipus.
Property assets valued every year but currently property NAV not changing much.
NAV now 202m Euros or 67 cents a share. Net loans 309m. So total assets 511m.

If they wound down quickly at realisable prices after costs etc, say they could get around a conservative 400m cash now. After paying loans of 309m that would leave 91m for shareholders or 30 cents a share based on 302m shares on issue.

On the upside they could possibly get 10% more if held out for a year or two for better prices, that could give 440m or 131m net or 43 cents per share, which shows how highly geared these are. They obviously don't want to wind down, as a real estate trust they are hoping property prices will one day rise.

[praipus] 09/12/2010 10:44

Anyone there?

[praipus] 09/12/2010 10:31

Anyone else not happy about our chairman making comments about fellow shareholder's like this?

"On 30 July 2010, shareholders defeated the five resolutions proposed at the
Extraordinary General Meeting requisitioned by Weiss Asset Management LP. This
was in line with the Board's recommendation."

As I see it Weiss were only trying to improve shareholder value and that should be reasonably high on the Board's list of things to do....shoundt it?

[praipus] 09/12/2010 10:26

Is the discount really circa 50%?

[praipus] 03/12/2010 14:52

Weiss seems to be supplying Karoo with the stock.

[praipus] 01/12/2010 12:19

Who are Karoo? With 25%?

Edit

[praipus] 26/11/2010 15:10

Price drop immediately after initial purchase.

[glavey] 24/11/2010 04:16

Praipus, Why 'ouch'?

[praipus] 22/11/2010 22:39

Many thanks.

Any chance of putting the companies website in too?

[topvest] 22/11/2010 21:14

done...still here!

[praipus] 22/11/2010 14:50

Main thread

[praipus] 22/11/2010 14:49

Just in case topvest doesnt visit anymore I've set up another thread

[praipus] 22/11/2010 14:47

Value arbitrageurs move in

[praipus] 22/11/2010 14:13

Topvest are you there? Please could you add the intraday chart to the header by checking the CHARTS button?

[glavey] 19/11/2010 04:48

Buy the stock then - help keep the carpetbaggers at bay!

[praipus] 15/11/2010 11:47

The AIC indicates SRE are trading at a 52% discount to NAV!!!

[praipus] 04/11/2010 14:12

Can anyone tell me if the NAV is published any where? Also can Weiss call for another EGM if they wish?

[topvest] 10/7/2010 16:28

EGM circular out. I'm going to support existing management. Anyone else any views?