Theracryf Share Discussion Threads

[praipus] 22/7/2011 12:40

Nice results:


"The difference between the reported TCF NAV of 87.5 pence per share and the underlying "look through" NAV of 165 pence per share gives an indication of the substantial latent value in the portfolio as at the period end. The application of our activist strategy should enable us to close the gap between these two NAV measures over time."

[praipus] 19/7/2011 13:17

Weiss Asset Management buying a few TCF for the portfolio


Track Weiss and Laxey holdings here:

[edwardt] 14/7/2011 14:56

all seems v quiet here - any sign of an update on spazio sale???

[praipus] 07/2/2011 13:41

Just realised TCF/Laxey have 16%+ of EU:NRP I've started a thread.


Also tracking all Laxey holdings in post 1 of the
"Tracking the Arbitrageurs" thread

[colonel a] 28/5/2010 10:15

No.
There will be a return of cash from Spazio soon {next month allegedly} which could form a special divi but I think I'd rather see them do more buy backs as this will help the NAV {a little} but will help the pass through NAV more significantly.
And turning the pass through NAV into cash is the name of the game IMO.

[ydderf] 20/5/2010 13:44

is there a divi?

[ydderf] 15/4/2010 13:22

the reason is lack of clarity - too many messy jv deals with Laxey - who knows what the nav is really?

today's news is a good example, it is all a little too remote from the cash bottom line

[crawford] 15/4/2010 08:58

A fantastic announcement here today, we should be moving much higher.

[crawford] 01/3/2010 14:12

Yes, they're well incentivised though.

[mangal] 01/3/2010 14:09

Well, the laxey comment is very positive:

"We are pleased to see that the Celtic Group have come on board to assist with
the accelerated disposals of the Spazio properties and believe that their
dynamism and wealth of experience in the property sector will add tremendous
value to the process."

[crawford] 01/3/2010 13:55

Any comments on today's announcement?

[crawford] 20/1/2010 12:55

Someone is after shares today.

[nicd] 04/12/2009 21:48

I wish my other shares were like this one, a nice gentle CLIMBing share price

[nicd] 04/12/2009 21:47

I wish my other shares were like this one, a nice gentle CLIMBing share price

[roundup] 04/12/2009 11:22

Many thanks

[crawford] 04/12/2009 10:52

roundup,
the reason for investment here:

As at 30th September, 2009 the "look-through" NAV of TCF has been estimated to be 138 pence which represents a premium of 165% over the closing mark-to-market NAV at that date. The "look through" NAV of TCF's portfolio is calculated with reference to the NAVs of the underlying holdings, as opposed to the mark-to-market NAV which is calculated with reference to the share prices of the underlying holdings. Clearly the investment in Spazio accounts for a significant portion of the difference between the "look through" NAV and the mark-to-market NAV.
Over time, the Investment Manager will seek to capture the gap between the mark-to-market NAV and the "look-through" NAV by the use of a pro-active portfolio management strategy. Whilst investors should expect some further short term falls in the NAV of portfolio companies, the bulk of the downside pressure on NAVs now seems to have passed. Indeed, the Investment Manager has noted that NAVs are, for some UK and European property companies, now actually rising.

[mangal] 04/12/2009 10:14

roundup, do you mean the copy of interim report?
[edit:
If so, it's here
]

[roundup] 04/12/2009 10:05

Do we have to wait until we receive a copy?

[crawford] 25/11/2009 11:01

Offer lapsed.

[crawford] 19/11/2009 16:28

Keif doesn't look so bad.

[fozzie] 13/11/2009 07:47

What effect if any will the ims this morning have on the tcf share price? The 41p offer does look a complete undervaluation of reit especially now the nav has risen to 72p. I own shares in neither but am looking to buy here shortly. Fingers burned this week with keif and dont want a repeat performance.

[crawford] 04/11/2009 16:05

Rugby Estates sells two industrial properties
11:53 | 04.11.09

By Laura Chesters

Rugby Estates has sold two industrial properties for £5m to clients of CBRE Investors as part of its planned disposals intended to return money to shareholders.

The properties, which were valued at £4.57m as at 31 July 2009, are located in Cranleigh in Surrey and Acton, in London.

Rugby said that the disposals were the latest step in the company's strategy to concentrate on its asset management business and to return capital to shareholders.

The company intends to return further capital to shareholders of not less than 40p a share within the next few months.

David Tye, chairman at Rugby, said: "The two fully let industrial properties were sold at a significant premium to the last reported valuation.

"The subsequent return of capital will bring the cumulative amount returned to shareholders since the announcement of this initiative in December 2008 to at least 102.5p a share currently issued ordinary share."



Read more:

[topvest] 23/10/2009 14:03

Just bought some today. Looking very good on pulling off another bargain on Rugby Estates Investment Trust plc. I own shares in Rugby, but with nearly 40% it looks ominous. Not happy from a Rugby perspective as this was a good company, so thought I would buy in from the other side. Spazio could also turn out to be an absolute bargain if property prices have really turned.

[mangal] 16/10/2009 16:32

The graph is looking good- not much resistance; more to come, I think.

[crawford] 16/10/2009 12:38

I'll have another nibble here when it's quiet :-)