The Revel Collective Share Discussion Threads

[tomboyb] 14/11/2024 11:08

NET ASSETS are MINUS 82million -

Need to re-read that -

Lukey will be getting ready to pick up the pieces -

[tomboyb] 14/11/2024 10:59

Its junk -

Surprised Luke Johnson put in quite a bit -

he'll pick up the remnants for admin i suspect -

They may have cash but future looks bleak with its humongous debt pile -

[sharpshare] 28/3/2018 14:57

Cash of 0.84p per share arrived today.

[flyfisher] 03/11/2017 12:36

Provided they come up with the cash, i get 0.95p as the final value, a little disappointing.

[eezymunny] 18/10/2017 11:51

NOt exciting news today. I reckon lucky if holders see a final 1p/share. Range of .4-1.2 in my spreadsheet. Lots of variables...

[flyfisher] 25/9/2017 18:56

That reference was from the original project details for mk malls.
This link from an indian business newspaper in 2011 gives a similar project value.

hxxp://www.business-standard.com/article/companies/db-realty-in-jv-talks-with-other-firms-111092700096_1.html

[eezymunny] 25/9/2017 09:38

My take is that there may be interested parties but that they want clarification on the legals. We can only guess.

That's a c. £115m project if your numbers are right flyfisher.

To me it looks like a bet with c. 90% downside and 200% upside, with no way of calculating the odds. Good fun!

[flyfisher] 23/9/2017 20:08

RJM, ''The project envisages the development of 848,000 sq.ft and the cost of construction including land will be in the range of INR 12,000 - 12,500 per sq.ft. on 18328 sq m of land diagonally opposite the stock exchange.''

[rjmahan] 23/9/2017 19:08

My take would be that if it was going well there would be no need to extend.

I am interested in this but wary - it is extremely complicated. Any idea what the total value of the tower project is ? How solid are legals behind this ?

[cockerhoop] 22/9/2017 08:29

Auction extended until 20th October, not sure if we can take anything from that?

[flyfisher] 08/9/2017 09:01

A little more information emerges in the latest accounts of DB realtors private ltd.

The project in which TC10 is involved is DB tower in mumbai, images are on the net.
The legal action taken by TC10 in april, was for ''oppressing rights and depriving of information'' and the complaint was upheld.
TC10 are now taking legal action for contempt.

Late payment is endemic in india, db realty have delayed completion of the purchase agreement for a couple of years and saved circa £1m in interest fees, the auction process now gives them a deadline.

[flyfisher] 30/8/2017 08:32

The sale particulars on the company website give a mine of information, but it is hard to see what the ultimate value will be.

[cockerhoop] 27/7/2017 11:42

It does seem though that TRC were willing sellers at a level above 21% but probably well below 70% from the narrative of the interims.

'Over a year ago, a sale of the CCPS to a potential buyer was negotiated at a discount to face value that reflected various risks, including potential issues in enforcing TC-10's rights in India. Although sales documentation has been agreed between TC-10 and the buyer, financing has yet to materialise. Consequently, TCML is seeking alternative buyers of the CCPS while evaluating its legal rights. The carrying value of the investment in MK Malls is based upon the negotiated sale price, adjusted to reflect the possible delays and risks in completing the transaction.'

[flyfisher] 27/7/2017 11:30

No, it has been in place for a couple of years.

Also of note is that dynamix hold their ROCCPS at 70% of cost, whereas TRC hold their CCPS at 21% of cost. And dynamix declare their stake to be fully recoverable.

[cockerhoop] 27/7/2017 11:02

Interesting - is the loan a new development? TRC previously reported a buyer for TC10 but with no funding. Potential squaring of the circle?

[flyfisher] 27/7/2017 10:36

Looking at the accounts of dynamix balwas, the developer of the DB BKC project in which TRC is jointly invested through TC10.
I note that Dynamix have pledged their holding in the DB BKC project for a loan to the value of £9m, which is not drawn, so they have the facility to buy in the CCPS if they so wish.

Perhaps the legal action is a tool to speed them up?

[cockerhoop] 27/7/2017 08:07

Great work, flyfisher

[flyfisher] 27/7/2017 06:33

An internet search shows that TC10 is taking legal action against DB BKC realtors with atlas law partners.

[flyfisher] 18/7/2017 16:22

The original co investor with TRC in the mk malls project is in realization mode and is selling funds. Blackstone being the proposed purchaser.

''The latest moves by Blackstone, the most influential real estate investor globally, carries the potential to trigger secondaries market for real estate investments that are stuck.''

hxxp://timesofindia.indiatimes.com/business/india-business/blackstone-bids-for-ilfs-realty-fund-assets/articleshow/59585762.cms

[flyfisher] 18/7/2017 09:38

Thanks, you have a pm.

[cockerhoop] 18/7/2017 08:54

I think Lars Bader is up to 19% flyfisher

[flyfisher] 18/7/2017 08:40

QVT were reported as having 23.4% and Lars Bader is the portfolio manager at QVT.

Lars has a direct holding of 17.2%, so about 40% in total is controlled by him.

[alexios1201] 03/1/2017 14:39

Cheers guys