The Local Shopping Reit Share Discussion Threads

[nicholasblake] 02/5/2019 09:08

Thal has to get to 50.1% by Monday or offer forced to lapse.

[tabhair] 02/5/2019 07:55

Acceptances to the THAL offer fell by another 50k shares today.

[gbjbaanb] 26/4/2019 03:05

I hope there will be a special dividend, but there are plans where a liquidated company can still be held in an isa, apparently this has been done before if you get the right permissions. But a dividend would rob Stoukup of the cash element which is surely thee only thing he wants from the company.

[sleepy] 25/4/2019 22:50

Kooba - interesting question. Perhaps a good outcome would be that the bid fails and then Thalassa (edit: support returning the cash to shareholders) without the need to go to court?

[kooba] 25/4/2019 22:21

So there is no timetable no court date no moves to deliver the liquidation in place...what was the vote for?Good versus evil..bit bloody dramatic !!I know the two businesses pretty well and was more than happy to take THAL offer...does that make me aligned with evil !??

[topvest] 25/4/2019 21:58

Good to hear that the greed of Thalassa is being defeated. Well done guys. Still a way to go in the battle to get the cash you deserve, but I think this is more a battle of good versus evil. The former has to win.

[exbroker] 25/4/2019 17:11

I suspect that the will be an interim payment, this could be about 28p? That way the bulk of the cash is distributed with a balancing payment in due course. From previous liquidations the final payment could be 12 to 18 months, but I hope not in this case. The shares may be delisted before then forcing ISA holders to sell or transfer them.

[hindsight] 25/4/2019 16:06

Kooba if someone can advise on what Thal will do now the t/o is dead in the water, surely the acceptances falling it must have dawned even on his egos, then it will be easier to work out a timescale
Will Thal be publishing the cost of this failed t/o to its shareholders ?

[kooba] 25/4/2019 15:46

So anyone when will they liquidate the company assuming the t/o does not proceed...is this open ended? Someone who voted for liquidation surely knows the answer..this month?? this year ?? next year ..it's only taken them 6 years so far on this strategy no hurry!!

[exbroker] 25/4/2019 09:41

nicholasblake
Agreed the point is that they could now walk away. Given they have gone backwards they are just going through the motions which as stated above shows who this is designed to benefit and who it is not.

[scburbs] 25/4/2019 07:53

An 800,000 reduction in acceptances! Anyone who hasn’t revoked their acceptance should do so as may help court decision given offer is dead.

[nicholasblake] 24/4/2019 16:11

Exbroker, from memory there are 60 days (last day for raises plus a fortnight)from posting till the offeror has to have achieved 50.1% (including valid acceptances)of total voting rights.
If not, the offer lapses.

[scburbs] 24/4/2019 15:55

If only they would walk away and announce they will let the wind up take place (albeit not sure if egos will allow that). That would lead to a jump in both share prices which is unusual for a takeover failing, but tells you all you need to know about who it serves and who it doesn’t (ie both sets of shareholders).

More likely takeover will fail and we will have to wait for the court hearing. Have they said anything on timing of that?

[exbroker] 24/4/2019 15:43

I think today is day 41 first close (21) plus 2 10-day extensions. If so then it can be raised up to day 46 so 1 May. There is no need for THAL to extend again if they don’t get to 50% they can walk away tomorrow.

[eeza] 24/4/2019 12:23

The male Mrs May.

[stemis] 24/4/2019 11:49

I can't see acceptances having increased much since 10th April so it will be interesting to see what Soukup does. Just extending it again seems pointless.

[kooba] 24/4/2019 11:24

Anyone know the LSR timetable re winding up order going to court?And if they get it..unchallenged?? When we get our money returned.Can't see a date on docs might have missed it.Still prefer THAL deal personally but if majority want to wait and see if LSR can get liquidation through then so be it.

[scburbs] 12/4/2019 21:49

Everyone knows the shell is largely worthless. He isn’t a real estate investor desperate to acquire a REIT. It’s an attempt at an enforced discounted rights issue that his own shareholders won’t support nothing more.

The LSR share price tells you all you need to know about how valuable the offer is. If the offer fails and wind up is approved there will be a c.10% jump. I think that says it all.

[gbjbaanb] 12/4/2019 17:23

He'll have to offer something like 34p if he wants me to accept any of his offers now.

Liquidate the company for cash as originally planned, but I'd be happy for him to buy it all. For cash.

[hindsight] 12/4/2019 15:20

Think Mr Soukup only has himself to blaim, and has compounded it by costing LSR holders like me 3% odd which is a few K. Only hope can see for him is to offer a lot higher cash part 25p+ which if he wants to genuinly use the Lsr shell then nothing lost, however if wants a cash grab then its not attractive to him. Actions will speak louder than words. It would be interesting to know what Thal have spent of thier shareholders hard earned so far on this crusade ?

[tiltonboy] 11/4/2019 16:05

Peeps still not convinced yet then

[stemis] 11/4/2019 14:19

It looks like the bid is dead in the water. As at the first closing date THAL needed acceptances of another 8,623,035 shares to achieve 50%+. They've just announced they got 625,385.

[varies] 11/4/2019 11:03

If I were Mr. Soukup, I would be disappointed with the level of acceptances just announced : only 20% of the shares not already held by THAL, bringing him up to 40% of LSR's capital.
Rather like Mrs May's deadlines, we now move forward to 24 April. Will he do any better than she has ?
Being a shareholder in both companies I have mixed feelings about these proceedings.

Will he have the good sense to accept the liquidation proposals if he does not reach 50% ? I doubt it and fear that he will refuse to lose face and will prove as obstinate as our not much loved Prime Minister. I only hope that he will not be allowed as many extensions as she has.

[stemis] 10/4/2019 13:03

I don't know whether LSR's property sale updates are designed to be vague but they certainly achieve it.

12 Feb - cash (including that to be received on sales for which contracts have been exchanged) was £23.4m. 12 properties remained, valued at £4.0m

8 Apr - cash (including that to be received on sales for which contracts have been exchanged) was £23.5m. 8 properties remained, but this time no value provided

So cash up £0.1m, properties down 4. Could be all sorts of reasons for that but no real light shed.

Value of remaining properties must be between £3-3.5m. Add that to cash means net asset value of £26.5 - 27m = 32.1-32.7p/share. Assumes no outstanding liabilities and no idea if bid defence costs of 0.6p/share paid yet. Wind up costs still to come.

[kooba] 06/4/2019 11:23

Ah misread % of those voted...read quickly on hand held.No need for rubbishing language though hey..keep it civilised.Obviously there are 18.9% (excluding THAL) who have accepted the offer and are presumably not voting on the resolution ..(though you could do both) , I didn't bother but i prefer the THAL deal...but obviously accept if the majority want liquidation..just when do I get my money and how much are just slightly important questions...any answers??So even though the ex THAL 99% figure appears resounding ..almost 40% of shareholders including THAL ( and yes they do get a say!) are accepting the offer...and that figure could be higher now.Could accurately say that only 44.8% of total shareholders voted for resolution against 40% accepting offer...doesn't look so resounding then does it.