Town Centre Share Discussion Threads

[linhur] 09/12/2002 19:13

inki

Ziff family now have over 42% of the share capital.If the resolution to buy back shares is approved at Wednesday's AGM and the company buy back the maximum amount under the resolution the Ziffs will have a fraction under 50%.

kind regards
linhur

[inki] 22/11/2002 00:39

It is probably a trade off between using excess funds for buying
in more shares and using funds for investing in more property.
Directors had been active in buying shares until the company started
buying in the shares. As directors have large holdings they in turn
end up with a larger proportion of the company, as shares get bought in
and cancelled.

[dunskey] 19/11/2002 08:56

Maybe they think the stock will fall and are holding off!!!!!!!!!!??????????

[dunskey] 19/11/2002 08:52

inki

This maybe true but you would have thought the board would have been more active in buying in stock when the discount is so large!

[dunskey] 19/11/2002 00:50

Any news any one?

[inki] 18/11/2002 16:25

Look at the pattern. When small traders sell out this gives the company more opportunity to buy shares in, as they have been doing.
The result is an increased NET ASSET VALUE. Part with cash flow at £1.47 or currently only £1.375 (mid) to buy further assets at £2.30p. The remaining shareholders net wealth grows, and this is hardly likely to hurt the directors, who are major holders of shares.

[simple sam] 10/10/2002 21:41

In answer to your question dunskey:

19th Sept Net Asset Value was quoted at 230p per share and today it was last traded at 140/143p

600,000 bought at 147.5p on 8th Oct.

Trade Code Paid Time Date Qty Bid Offer
000O5C3A02 147.5 16:18 ( 08/10 ) 60000
1023IO1W02 147.5 16:17 ( 08/10 ) 40000
202BT33V02 147.5 16:17 ( 08/10 ) 500000

27th Sept Deputy Chairman stepped down. (New blood coming, sell off? Bid???)

IMHO Small players bailing out to cash at the first sign of profit and the big boys buying in for the long term upward trend .

[simple sam] 09/10/2002 22:14

A long time since last post on these but maybe things are about to change?

19th Oct ... Re: NAV Net Asset Value (TCSC invest in business property in cities that on 19th Oct 2002 were worth 230p per share and their shares are priced at 144p a share, so punters must be expecting a big drop in property prices ;-)

But, yesterday some organisations paid the following for some chunks of their stock:

Trade Code Paid Time Date Qty Bid Offer
000O5C3A02 147.5 16:18 ( 08/10 ) 60000 140 144
1023IO1W02 147.5 16:17 ( 08/10 ) 40000 139 142
202BT33V02 147.5 16:17 ( 08/10 ) 500000 139 142

27th Sept Deputy Chairman stepped down. (New blood coming, sell off? Bid???)

Please excuse my ignorance but many people are very keen on buying property to let these days even though it's already gone up hugely and they are probably borrowing money and paying interest to do so. SO, does it not make sense to resist this urge and buy stock in a property investment company for 144 ish with assets of 230 ish with other investors paying more than you for the stock?

Ahh, maybe this is not a trading buy!!??

Sam

[dunskey] 26/8/2002 09:38

Directors buying and now Legal & General takes a stake. This sounds loud and clear. Anyone have an idea what the real asset value is now?

[inki] 22/3/2002 10:04

This is an asset play if there ever was one.
The remaining shares (6%) have been bought in by the Company from Treffick thereby increasing the Net Asset Value per existing share. In addition this will enhance earnings per share and subsequently return on capital employed.
New projects referred to in the interim report are attractive.

[hilly] 15/3/2002 13:57

TCSC on an upward trend and looking good... any views anyone?

[inki] 06/3/2002 10:05

Is this company now looking for higher quality earnings?
Having sold off their car parks business a reducing their overall asset base they have reduced profits now spread over a substantially reduced number of shares. The NAV is now 206p but EPS has increased from 3.2p to 4p
If a takeover is expected it is likely tobe sooner ratehr than later as the value of the company is now becoming better reflected it is shareprice

[dunskey] 12/2/2002 17:01

Last year this company had operational cash flow of approx £26m = 27% of market cap. With the in excess of the stated nav 211p(40% discount) it is no wonder this has been mentioned as a take over candidate. It maybe that the board are considering another buyback!

[inki] 13/6/2001 15:35

If Treffick have sold/offloaded 12% of TCSC then these shares must be the majority of the 9 Million shares the Company have just bought back for cancellation. Quite a large buy back thus increasing the net asset value per share substantially.
One to watch.

[dunskey] 17/5/2001 10:14

CB7 et al

market waking up to undervaluation of this stock (and HVR)and there is some way to go! Please look at trades (all buy) and chart (breakout)!

[dunskey] 30/3/2001 02:29

CB7............by my calc. a 5% increase in portfolio and completion of buyback now underway NAV up to 233p by End June YE(and more to come) surely this is outstanding value. I have noted your others.......please look at posting on HVR I've seen you there!......another screaming buy after results! Any comments?

[cb7] 30/3/2001 00:49

lo, I was in TCSC from 66 to 106, but still have it monitored.....thinks it offers good steady value.....I just shifted the money elsewhere....into BPT @ 278--just taken over at 321.... property stocks should always be a core holding, I have NPT on similar discount to TCSC,(they have a 29% shareholder who had a failed bid and may try again) and LAS, which at 27-28p has a nav of 61 and pays a good divi...like you say in this market they offer stability to a portfolio

[inki] 12/2/2001 10:05

It is still undervalued at 108p based on asset value
Note property speculator Jack Petchey has a holding in this company

[mr. hankey] 11/10/2000 10:43

After reading today's results it is quite obvious that this stock is substantially undervalued at 98 pence.

[dougal] 07/1/2000 14:49

An additional 3.425 million shares bought back at 85p.