Tritax Big Box Reit Share Discussion Threads

[smzmzm] 22/5/2017 11:34

Has anyone got their money back yet from shares subscribed for but not issued due to the scale back?

[jonwig] 19/5/2017 08:55

Saltaire - their 2016 AR has little to say except (p18):

The rapid growth in e-commerce sales is therefore expected to
continue in the coming years, with forecasters predicting that
e-commerce will account for 22.6% of total retail sales in the
UK by 2020, up from 13.0% in 2014. While the impact of Brexit
on the UK economy remains uncertain, industry analysts expect
that e-commerce will continue to grow, even if the retail sector
as a whole remains flat. E-commerce therefore has resilient
characteristics.
To remain competitive in this environment, retailers need to
have large, highly efficient distribution facilities that can fulfil
orders quickly and accurately. This need is only becoming
more acute as customers demand ever-shorter delivery times.
The importance of data to successful e-commerce operations
means that Big Boxes dedicated to e-commerce increasingly
also house the retailer’s data and intelligence centres.

My personal feeling is that Brexit may (not 'will') lead to a prolonged period of stagflation with property values being hit, and hence property share values.
However, these big boxes are cheap to build with limited fabrication, plumbing, electrics, internal structures, etc. The main value is then in the land, and situations might be suitable for housebuilding: a government priority.
Finally, LTV is 30%, pretty conservative.

[saltaire111] 19/5/2017 08:10

I've been invested in bbox for about a year and I'm keen on this company. My only concern for its future is brexit. Anyone have any thoughts on the likely impact on bbox? Thanks.

Salty

[lomcovaks] 17/5/2017 18:09

Further to my comment in #645 that I appeared to have received my full application in the open offer, I was speaking too soon.
I've had a further corporate notification from TD Direct today as follows:
Open Offer - Scaling Back
Subscription price: GBP1.36
New shares: 15th May 2017
The Board of Directors of Tritax Big Box REIT plc has announced that the Open Offer was significantly oversubscribed, consequentially applications for additional shares in excess the basic entitlement have been scaled back.
Holders have had their elections under the basic entitlement satisfied in full. Holders that applied for additional shares have received approximately 72.5% of the shares that they applied for under the excess facility.
Accounts have been updated with the new shares.
A refund of the uninvested cash will be applied to your account upon receipt from the company registrars.
Your account will be updated upon receipt of the proceeds but in some circumstances there may be delays in the proceeds being credited to us. Please allow 10 working days for your account to be updated.

[riskvsreward] 17/5/2017 17:46

That makes sense. It looks like perhaps AJ BELL did a lazy job and just submited one application with pooled money while other brokers did a more decent job to submit individual applications for each nominee account, just like one normally does for state privatizations of utility companies.

[ugandalad] 17/5/2017 14:08

I received 72.5% of open offer application which I am happy with although still waiting for the return of the excess cash.

[tyranosaurus] 17/5/2017 11:02

FWIW I got 77.11% of the extra shares that I applied for.
They`ve already spent £20m on a medium box in Doncaster.

[robow] 17/5/2017 08:31

i got 77% of shares from Selftrade in the open offer

[joe say] 17/5/2017 07:49

alter ego/jonwig - its exactly that methodology that's applied - one of the benefits imo of pooled nominee accounts (offset arguably by the difficulty in voting)

[jonwig] 17/5/2017 07:15

alter ego - your explanation is the only tenable one, and there were similar broker differences with the PHNX rights issue.

The registrars know only the global number of shares and applications from each broker, not the way they were distributed amongst nominees. The real scandal lies in the obvious slowness of some brokers to act (whilst holding your money!).

[getscenic] 17/5/2017 07:15

Anyway enough chat about who got what and who did,nt. I see the money raised is not sitting in the bank, another big box in Doncaster.
FWIW those who only got 15% of what they asked for would do better waiting for the mark down next time they tap the market for more money, it's bound to happen before the year is out.
ct

[alter ego] 16/5/2017 22:30

To avoid any confusion, I received an allocation in the open offer of 1 share for every 11 I held. I also applied for more shares in the offer for subscription. As I have not yet had any official breakdown from HL, I assume my basic open offer was 100% filled. That being so, the number of additional shares added to my account means I got 77.1% of the extra shares I applied for over and above the open offer.

I can see how it is possible for people with different brokers to get a different percentage of shares they applied for. Each broker will submit a total application from the pool of investors they represent. If this application is low, because their investors were less keen, it seems likely that those who did apply would not be scaled back as much as those from another broker where investors were eager to apply for as many shares as possible.

Just my opinion.

[ianbrewster] 16/5/2017 20:48

my 15% was in the Offer for Subscription, sounds like alter ego's 77% was excess in the Open Offer

Don't blame AJ Bell for 15%, that's all anybody got in the Offer for Subscription

[riskvsreward] 16/5/2017 19:49

looks like AJ BELL is useless. Only got 15% applied for. Sold immediately as there is no point of keeping such a small stake.

[tyranosaurus] 16/5/2017 18:37

Ian Brewster post 929 states message from HL - allocation is 15%.
Either he`s a liar or Hl don`t know what they are doing.

[alter ego] 16/5/2017 15:35

My HL account has been updated too. Looks like I got about 77% of the excess shares I applied for over my basic allocation. Well pleased with that.

[jamtin] 16/5/2017 14:48

HL have done something with my BBOX allocation now. I now have a cash value against a "rejected" offer line, and my regular entry against BBOX has increased with new shares. I had made a very modest request and appear to have been given approx 76% of the additional shares I applied for above my open offer allocation.

[tyranosaurus] 16/5/2017 13:07

It`s a bit off when Tritax Big Box put out RNS`s for Director`s shares allocated in the offer when they can`t seem to get their act together for us.

[wingrove4] 16/5/2017 12:09

Likewise I still have not heard from iii about my allocation. Just received an email confirming they do not know useless or what.

[budsman] 15/5/2017 17:34

Nothing for me from Selftrade yet

[skinny] 15/5/2017 16:42

Nice to see the directors joining in - albeit one was only a small purchase.

[robow] 15/5/2017 16:08

still nothing from Selftrade

[skinny] 15/5/2017 16:00

I've just spoken to them (HL) again and they still haven't received the allocations - this I find very hard to believe and have made my feelings clear.

[nimbo1] 15/5/2017 15:57

hi tyranosaurus, same issue for HL from me...why can't they just get it done in line with everyone else!