The Local Shopping Reit Share Discussion Threads

[badtime] 27/10/2016 17:37

Tilts are u up to 4% yet?

[hillofwad] 27/10/2016 16:28

The long and the short of it is that the death roll has continued for too long Brexit hs been a legitimate excuse The market is still solid for this type of stock There is no point hanging onto it on the off chance there might be a token increase in NAV .Appreciate that we will need to know and if Thal makes an offer coming circa 20% disount it should be acceptable and we can all go home . In the meantime lets get selling

[redhill9] 27/10/2016 16:07

Does 20% off the properties result in 40%+ off the NAV?

Not quite, but 20% off the properties does mean more than 20% off the NAV as there is some debt that obviously will not be reduced.

[eeza] 27/10/2016 15:56

Then the management would have to seek other employment.
Better just to keep procrastinating.

[hillofwad] 27/10/2016 15:50

gfrae I agree so they should d get cracking selling these individually .It might bring Thal quicker to the table with a takeout offer

[ntv] 27/10/2016 15:47

happy to see change here as the the share price has kept falling
management are poor and in a rising property market it has made them appear poorer still.
they have creamed off their monies for poor performance
business rate changes should help these smaller properties
i am voting for change because DS can't be any worse than this lot.
time to cut costs and free up cashflow and pay a dividend.
getting the finance costs down will help a lot.
worth a punt anyway

[gfrae] 27/10/2016 15:35

The previous portfolio was sold at around NAV. Most individual shop sales have been sold at or above NAV. (This may because they are better quality).
I do not see why they would sell at a significant discount to NAV unless they were forced to do so.

[sleepy] 27/10/2016 15:14

Does 20% off the properties result in 40%+ off the NAV?

[skyship] 27/10/2016 15:02

Well, a 20% discount from 45p = 36p. We would all take that I suspect...

[hillofwad] 27/10/2016 14:34

Value Range
No. of
Properties
Value
£m EY
£0 - £100k 125 8.16 9.89%
£101k - £200k 101 13.47 8.20%
£201k - £500k 81 24.49 8.06%
£501k - £1m 21 15.07 8.07%
£1m - £3m 7 12.24 7.64%
£3m + 1 3.25 5.19%
Total 336 76.67 9.50%

There are 226 properties under £200k !! What is the point of trying to hive off the majority of those tiddlers into a portfolio even slipping in a few goodies where any property dealer/breakup merchant would want a significant discount of 20% to NAV to make it worth their while to get involved for all the hassle

[kooba] 27/10/2016 14:17

DS has paid up to 34p it seems so presumably thinks he will make a good return on that for his holders...As previously said here cards on table time and difficult not to see some upside imho...doubled holding at 28p this am...Let's hope value will be extracted one way or other.

[nk104] 27/10/2016 11:11

'Your Board believes that the proposals indicated by Mr Soukup would be highly detrimental to the interests of shareholders in general, would destabilise relationships with critical stakeholders and would be very disruptive of the programme that the Board has in hand for executing the strategy approved by shareholders.'

The proposals will no doubt be very disruptive of the Board's current strategy which is to do very little slowly while pocketing cash. Whether a shake-up leads to the current Board pulling their finger out, or a new Board, a focus on shareholder value can only be a good thing IMHO.

[gfrae] 27/10/2016 10:27

I suspect that Soukup will need to get quite a few more shares registered if he is to win this EGM.
Hard to see what he will achieve by replacing the existing directors,though he may have got a plan that no-one has yet thought of.

[hillofwad] 27/10/2016 09:48

Skyship I would be happy to sell at 32.5p . I need some liquidity holding too many shares waiting to go to heaven . No relection on value or expectations for Local Shop

[tiltonboy] 27/10/2016 08:48

Seller just appears to have nudged his price up a ha'penny.

[eeza] 27/10/2016 08:10

Tap still appears to be present.

[skyship] 27/10/2016 08:09

Couldn't resist a small top-up when I saw no change in the share price ..

[skyship] 27/10/2016 08:02

HoW - 32.5p!!! Hopefully tongue in cheek...

I suspect we will now see the 30th September NAV before the mid-December Finals.

[skyship] 27/10/2016 07:57

"Both sides now need to lay their cards on the table" - Exactly. Both sides are going to have to court votes with a message of Shareholder Value. Shouldn't do the share price any harm; and certainly I assume yesterday's tap will be holding off this morning!

[hillofwad] 27/10/2016 07:48

"If it were done when 'tis done, then 'twere well
It were done quickly" Yes interesting times ahead . Maybe Vetch might declare his hand . BoDS have had plenty of time to clear the decks Initial success has been folowed by a period of tranquility Admittedly brexit has played its part but now is the time to up a gear and wind it all up . Ill take 32.5p!!!!

[tiltonboy] 27/10/2016 07:42

Difficult one!

Do we support the incumbents, who seemingly appear to have been sluggish in disposing of properties, or do we support a shareholder who is trying to take control without making an offer for the company.

Both sides now need to lay their cards on the table.

[spob] 27/10/2016 07:40

Anyone aware of any previous relationship between Soukup and any of the current LSR board members ?

[kooba] 27/10/2016 07:29

Soukup is very seasoned corporate operator...and I'm sure has a definitive plan on maximising shareholder value.No details of what has actually been proposed just that it's not acceptable....presume it involved existing management losing their jobs!My guess is that they keep a portfolio together maximising value through active management and start to distribute income...could probably get at least a 6-7% yield ...which should see them trading nearer asset value ...imho. Going to be interesting...let battle commence.