Tamar European Share Discussion Threads

[scburbs] 08/6/2011 10:10

Scandanavia continuing to look strong. Not sure why it would take 3 years to shift €100m of property! If there are problems with bank prepayments fee then they should get negotiating as I am sure the banks will be keen to be repaid.

"European commercial property values continued to increase in the first quarter (Q1) of 2011 (+0.4%), but at a slower rate than seen in Q4 2010 (+1.2%), according to CB Richard Ellis' (CBRE) Q1 2011 European Valuation Monitor.

...

The Nordic region continues to report the third highest level of investment activity behind the UK and Germany and has just overtaken the UK as the best annual and quarterly performer."

[badtime] 07/6/2011 21:46

Sky...praps has sed he doesnt mind sleeping undr the stars and eating road kill so the gite wil b fine for me :)

[praipus] 07/6/2011 17:44

I enjoyed Miles's book. It was recommended as a holiday read by the chair at an Ecofin AGM. Miles is a reasonable writer especially for someone who isn't a professional wordsmith. I remember reading it quickly and being sorry to have finished it. It really is quite eclectic combining history, personal anecdotes, aspects of his fund management career: some serious useful insights (IMHO), others just hilarious. His wife is French so there is the feeling she rescues them from most of the Englishman abroad international incident situations.

Since reading it I keep uncovering references to Miles's business the most recent in David F Swensen's book Pioneering Portfolio Management.

[skyship] 07/6/2011 16:11

So Badtime & Praipus down here in our gite for a few days gardening. Sounds interesting...

Perhaps more likely that we will put the world to rights and find a few profitable trades here, on JDT and on the various property sites we visit.

We have many books of people doing things in France, but not that one. Is it a good read? The comments section on Amazon isn't exactly equivocal ...

[praipus] 07/6/2011 10:32

Hi Zangdook, misinformation is something we have to live with as PI's, something I'm slowly comming to terms with.

Badtime great idea. Let me know if you need an apprentice with significant Oleaster, Beech, Box, Yew, Pyracantha and Hawthorn trimming experience plus and endless stream of curious share tips?

Skyship "cherries" heavenly have you read Miles Moreland's book a walk across France?



He was I believe quite a succesful fund manager and inbetween interesting observations on just about everything there are morsel's of investing startegy and insight, excellent holiday read.

[zangdook] 07/6/2011 08:35

From the American-style dates in the Weiss holding RNS, I presume they were filled in by Weiss and passed on unaltered by TEIF via RNS. I don't know if this sheds any light - perhaps the letter informing TEIF was delayed in the post?

[badtime] 06/6/2011 23:26

Perk...''pay someone next year'' ..hmm in exchange for holiday accomodation? :)

[skyship] 06/6/2011 18:58

Praipus - Laurel hedges - easily cut but boy do they create a load of waste which I then have to rake up & cart off to the dump. Takes days. Think I'll pay someone next year - getting too old for that game.

(Incidentally, bird breeding season now over down here in SW France. We are in the middle of the most prolific cherry season for years. Constantly grazing cherries - delicious!)

Re the matter in hand (TEIF) - Seems as though we are still none the wiser - RNS tomorrow morning perhaps...

[praipus] 06/6/2011 18:03

So I wonder where the delay is:

1.) the stock exchange
2.) the registrars
3.) or TEIF's company secretary?

[alanji] 06/6/2011 17:37

Priapus - I know reporting some trades can be delayed but this is a "NOTIFICATION OF MAJOR INTEREST IN SHARES" and in any case was reported to the company on 26 April, as disclosed in the rns

[praipus] 06/6/2011 16:53

Been raining and is currently overcast here....no hurry Skyship. Shouldn't you weight until the end of the bird breeding season (thats my excuse for getting out of doing it anyway) ?

Box or Yew hedges?

AlanJI I think institutional investors can delay reporting buys and sell for all sorts of reasons in theory "protecting" the market though it amuses me how often us humble PI's are the last to know.

[skyship] 06/6/2011 16:37

Praipus - you're right, I'm busy out in the garden cutting hedges on too hot a day, coming back in to check for an RNS & getting confused?#!~/

But I may not be the only one.

The dates are certainly strange in that RNS; and there was no RNS back in April either. Don't know what to make of it at all.

Will wait for clarification before expounding further!

Sorry...

[alanji] 06/6/2011 16:34

Surely this should have been reported back in April?
And where is/are the rns's for Fridays dealings?
Praipus the rns states the previous holding which may be what Skyship meant.

[praipus] 06/6/2011 16:15

Hope I'm not too late for the party...Weiss RNS dates back to April.

"SKYSHIP - 6 Jun'11 - 15:03 - 168 of 169


You're right - & of course Weiss were already holders, so just increased their stake. So, eyes down for the next RNS....."

"Weiss were already holders?" I'm sure I checked TEIF major shareholder out a few weeks ago and no sign of a Weiss holdings then (from unreliable memory). How did you know or where do you check holdings data Skyship?

[scburbs] 06/6/2011 15:13

Good to see Weiss buying at 48p. This increases the pressure on TEIF to deliver. If the disposals do not cause the share price to re-rate to close to NAV then they are unlikely to be allowed to reinvest any disposal proceeds.

[skyship] 06/6/2011 15:03

You're right - & of course Weiss were already holders, so just increased their stake. So, eyes down for the next RNS.....

[zangdook] 06/6/2011 15:00

Weiss took 2m, that still leaves some unaccounted for.

[skyship] 06/6/2011 14:58

So, Weiss smells the coffee and joins in the fun. Following Weiss is usually a profitable game - see Praipus' ARB thread:

[skyship] 06/6/2011 09:42

09.42 & still no RNS confirming the movement of those 8.9m....wonder how long we will have to wait

[skyship] 03/6/2011 17:19

Alan - Ah, but there's a lot more to come in those etcs...

We've had 8.9m traded @ 48p today.....that's 6.36%!

There's going to be an RNS any minute now, if not, then certainly on Monday morning.....provided Monday isn't yet another Bank Holiday. You seem to be having one hell of a lot of those recently!

[alanji] 03/6/2011 16:46

rather unambitious, I feel, Skyship

[skyship] 03/6/2011 15:31

Could this perhaps be the first shot in a bidding war between Laxey & Joe Lewis?

# 3rd June - Laxey buys 2.86% to cross the 30% threshold
# 6th June - Laxey announces intention to make a general offer @ 48p
# 7th June - TEIF Management/Joe Lewis advise shareholders that the bid seriously undervalues the Comapny and advises shareholders to take no action pending their response
# 10th June - TEIF Management/Joe Lewis counter-offer @ 52p

etc.etc.etc.

[skyship] 03/6/2011 15:04

INTRIGUING - A 4m tranche changing hands @ 48p, that's 2.86% of the 140m shares in issue.

[jimbo3352] 03/6/2011 09:16

Hi Skyship
We're in agreement on this one. It's encouraging to see a company anticipate the problems a relatively expensive re-financing would bring and act to bring down the discount. Look forward to MCKS narrowing their discount; at least they declined their bonus which was a decent gesture.

[skyship] 03/6/2011 08:52

Topped up with a few this morning.

# Small divi to pay our way whilst we wait
# At 47p the NAV discount to the "average" NAV of 71.6p = 34.3%
# Assets in Euroland provides some hedge to the weak £

Not a great deal of upside perhaps, but to achieve that net figure of 71.6p would be the equivalent of 15%pa over 3yrs. More than enough to justify entry at this level. Then of course there is the chance of Laxey-inspired earlier action!