Trikona Trinity Capital Share Discussion Threads

[grahamg8] 27/5/2009 11:13

What I meant was that they had put a limit on price and number of shares in the period 27 May to 27 July. What happens after then could look quite different and will depend on their view of any new NAV value, progress on disposals, and any announcement of a cash return other than buying yet more shares. The share buy back could of course simply be extended (or be part of the ongoing plans) with a new quantity, price and time limit. The share price could easily rise above 60p during June/July as leaks begin to occur or investors take a punt on maintaining the NAV and a restatement of the pace of disposal/cash return.

[patersdw] 27/5/2009 10:57

As far as I can see the property portfolio is re-valued half-yearly so we should get an upgate in July for value @ end Mar '09. Maybe they've received the valuation report already, or maybe they've not. If not, perhaps the 60p cap is simply a conservative under-estimate of what the NAV will be calculated at, to avoid a possible accusation later that the co. was buying back shares in excess of the NAV (contrary to the shareholder endorsed strategy), should the share price continue to rise significantly, e.g. to 80-120p.

Just my tuppence worth.

[rbcrbc] 27/5/2009 09:31

but clearly needed to put an upper limit on what they could go to.

I see your point grahamg8 but surely the upper limit they could go to was set at the EGM as NAV ?

[grahamg8] 27/5/2009 09:26

The RNS says to me an attempt to manage an orderly share price rise up to ~60p by the time the preliminary results come out on 27 July. I'm sure they will buy if the price starts to sink but may hold back if it keeps floating upwards. Recent trading would suggest that they haven't a hope of buying that many shares in the open market, but clearly needed to put an upper limit on what they could go to. This therefore leads to the 'cash distribution' to follow after 27 July in order to return any cash remaining which had not been used in the buy back.

[rbcrbc] 27/5/2009 09:20

It does seem a very strange RNS.

Unless they think that the NAV has dropped to 60p. From 138 pence as at 30 September 2008.

Maybe they just want to encourage speculators to take their profits and run at 60p. Which, I guess is a valid strategy to the benefit of those left behind, but as SteMis points out totally out of line with their policy.

Do I stay or do I go......

[papy02] 27/5/2009 09:12

Strange announcement - nice to know the max shares to be bought back is determined to 8 significant digits!

Wonder what the objective of the announcement is - avoid price rising too far/ too fast?

So max buyback is just over 8% of outstanding shares before 27 July, for a max value of £11.6m (ie if all at 60p) which is close to our calculations of the cash available (before any additional release of cash).

Per SteMIS comment - makes you wonder what they reckon the NAV per share now is, now calculated on a "for sale" basis rather than ongoing development basis.

[stemis] 27/5/2009 08:17

Seems to be saying that they will not pay more than 60p (before the 27 July anyway).

I thought their investment policy (agreed by shareholders at the EGM) was:-

If the Company's Ordinary Shares are trading at a price below the NAV per Ordinary Share, the Company shall immediately effect a return of capital through a cash distribution to Shareholders.

The shares are trading at a price below NAV per share.

[mknight] 27/5/2009 06:07

Markets looking hot hot hot this morning watch out for a nice rise today .

[mknight] 26/5/2009 21:00

RBCRBC ...A few million more to work on ... 10 percent rise early tomorrow me thinks .

[rbcrbc] 26/5/2009 14:53

That would give £25m available now or soon for the buy-back (minus what has been spent).

01/04/09 275,000 shares at 30.36p = £83.5k
03/04/09 600,000 shares at 35.00p = £210k
05/05/09 1,800,000 shares at 40.00p = £720k
11/05/09 550,000 shares at 43.70p = £240k
26/05/09 25,000 shares at 51.40p = £12.85k

Total spent on buyback = £1,266,700
Shares in issue now = 228,550,200

[mknight] 26/5/2009 14:12

Well there you have it a million BUY get them while stocks last .

[mknight] 26/5/2009 13:40

Another 250k goes through which doesnot move the price down , very strange today .

[mknight] 26/5/2009 13:38

MY 43500 seems to have been bought in odds and sods .. interesting to see how this one develops .. why would the company buy a whole 25,000 shorly the rns would cost as much :-)

[badtime] 26/5/2009 09:42

Well..thy did buy a few at 51.4 if u c the rns issued this morning

[spectoacc] 26/5/2009 09:36

Surprised MMs not attempted a pull-back yet; inclined to think with NAV so high (on paper), & India back in vogue, you might be right mknight.

[mknight] 26/5/2009 09:18

Just snapped up another 43500 , seems a massive stock shortage to me . Will pay the price if i am wrong .

[mknight] 26/5/2009 08:34

Interesting that our company cant seem to get hold of shares . At what prices does one think they might get a few for .. 60-70-80-90-100+

[mknight] 22/5/2009 15:36

more of the same next week we hope .

[rbcrbc] 22/5/2009 15:33

Well, 12% ish on the week isn't too bad ;-)

[mknight] 22/5/2009 14:35

WHOOSH UP .025P

[mknight] 22/5/2009 13:57

Well that says it all for me , get in now imho and enjoy the ride of your life ..



I think badtime will enjoy this post .

[mknight] 22/5/2009 11:56

I am in for another 25,000 looks to be many waiting to get in cheaper , i dont think its going to happen .

[mknight] 21/5/2009 11:17

In that case ...ALL ABOARD !!!