The Local Shopping Reit Share Discussion Threads

[frazboy] 14/6/2019 12:53

I doubt admin will be that expensive but I agree with the sentiment expressed at the end of your post. Thank you Duncan, indeed

[tabhair] 14/6/2019 12:34

The most recent NAV was reported at 33.6p. We can probably knock 2p off in legal costs that the board have taken to fight Thalassa. We are also going to have to pay another 2p or so in admin expenses to keep this company alive for another year because of Soukup. I can see another 2p in "unexpected" costs before everything is brought to a close. That gives us a share price of 27.6p. Last tick was 27.4p - looks a little over-valued to me given the risks here.

Thanks, Duncan!

[stemis] 14/6/2019 11:49

Probably just the lack of news. It's now over 5 weeks since the bid lapsed and absolutely nothing from the company.

[hindsight] 14/6/2019 10:36

From the last sales update, presuming contracts have gone through, there were 5 properties left with a approximate book value of £3m. So even if these were discounted 25% when eventually sold it wouldnt explain all the fall. Think also to do lack of news or holders needing an exit for various reasons, maybe to shift through some woodford wreakage

[frazboy] 14/6/2019 10:06

Indeed HoW - prices of the few that remain are no doubt on the slide.Wonder how that meeting with Thalassa and/or court petition is coming along. It's been over a month.

[hillofwad] 14/6/2019 08:15

Should imagine the last stragglers are proving difficult to shift without significant discounts

[hindsight] 11/6/2019 10:32

Someone selling on book

[stemis] 04/5/2019 19:26

They don't have the distributable reserves to do that.

[gbjbaanb] 04/5/2019 19:01

They cannot block a dividend though, and LSR decides the dividend level, it doesn't have to be a special dividend either. Then they can announce they don;t have enouygh money left to make LSR a going concern, so will wind it up (as they are legally obliged ot do) and THAL can whistle.

[scburbs] 03/5/2019 21:40

That would be a great outcome for LSR and THAL shareholders, but is that likely given all that you have heard from THAL?

[sleepy] 03/5/2019 21:09

As I said in 3399 - Perhaps a good outcome would be that the bid fails and then Thalassa support returning the cash to shareholders without the need to go to court?

[scburbs] 03/5/2019 20:58

It’s certainly hard to see how you can be vehemently opposed to a cash shell looking to return cash via a liquidation! They are vehemently opposed to LSR returning its cash to its shareholders because they want control of the cash!

Even though the offer has failed they can still block cash return unless court says otherwise.

If they were even remotely investible then the offer would have succeeded. However, no company remotely investible would offer to buy cash at a notional (illusory) premium as it just means their own shareholders won’t give them any money.

[topvest] 03/5/2019 20:49

Yes, great news to see Thalassa defeated.

[alanji] 03/5/2019 18:11

Love this bit:
Whilst vehemently opposed to the proposals put forward by the LSR Board to date, the Thalassa Board remain, as they always have been, open to working with the LSR Board to find a fair, certain and equitable return of capital to LSR Shareholders.
ROTFL

[tiltonboy] 03/5/2019 17:36

Unsurprisingly, the bid has lapsed.

THAL are baffled. I'm baffled why they are baffled!

They need the cash so I see no reason now, not to agree to the capital distribution.

[scburbs] 02/5/2019 22:26

Difficult to see much ego on the LSR side from here. They have cash, they want to give it to shareholders.

Yes they may not have done a good job in the past, but that doesn’t change the current situation.

Only one person is trying to stop the company returning cash to its shareholders.

If THAL shareholders were asked to vote on whether it is a good deal for them, they would also say no. The offer is a terrible deal for LSR, but a worse deal for THAL shareholders given the extreme dilution to purchase cash (aka attempted discounted placing with LSR shareholders being asked to stump up the funding).

[frazboy] 02/5/2019 19:13

Do you work for Thalassa, deepvalue?

[deepvalue2015] 02/5/2019 19:02

I think Vetch has the bigger ego and he seems determined to tie his own noose.
I want to see what other skeletons he is really hiding and what advice he has been ignoring all this time.

[tiltonboy] 02/5/2019 17:55

He needs the cash so he may end up waving it through...but will his ego let him!

[frazboy] 02/5/2019 17:48

No chance of imprisonment whatsoever, that's my take. Smoke screen? What's Thalassa's next move I wonder. Does he continue the farce or does he do the gentlemanly thing and walk the plank

[nicholasblake] 02/5/2019 16:50

Those powers are there as a deterrent and no chance whatsoever of imprisonment. Even a fine would probably require a clear breach of black letter law, which Local's lawyers would not countenance.

[hindsight] 02/5/2019 15:47

Not sure what information they are dreaming about, but they got all mine as sent me loads of junk paperwork, email and a phone call. Dread to think at what cost to Thal shareholders but we know what its cost us Lsr holders (which is also loss on top of a loss for thal shareholders)

[rndm355] 02/5/2019 13:23

Some thoughts on latest developments. Thalassa threatens LSR officers with possible imprisonment:

[nicholasblake] 02/5/2019 09:08

So in effect this extenension is last roll of dice.