Ucp Share Discussion Threads

[celeritas] 20/8/2009 07:52

Thanks for that slap.
SS he can be annoying but he is good at pointing out any negatives which I will investigate further, especially when I am not up to speed up on the stock.
Can anyone put what slap said to bed?

[snobtimus shaime] 20/8/2009 06:19

then kindly go away and stop posting your poorly written drivel

[slapdash] 19/8/2009 22:35

Celeritas - it is a complex story. For the record I owned a slug bought recently but sold the lot on the basis of fairly mediocre results. Anyone can say NAV is X,Y,Z... but what are unoccupied offices that no one wants to rent really worth????? Nectrus have to buy stock as it is in their management agreement which was renegotiated so that they get 2% of asset value but 1.5% is through them having to buy shares. Fee they charge is ridiculous really. Managing empty buildings and building some new ones for 2% of value a year.

So personally I'm not sure this is such a straight down the line play as WCC or CHNS. Could be a good slow burn situation but management appear fairly useless as far as I can tell. Have a look at recent RNS's and also company's website. Slap

[celeritas] 19/8/2009 16:12

slap, who let you climb out of your pen into here.

Seriously though I'm giving this a look over, tell me what you know.
I can easily see the NAV is well in advance of the share price but why?
How much of the office space is let?
Why do nectrus have to buy stock?
What are the costs in running empty buildings?

Thanks

[debbiegee] 19/8/2009 15:26

Ftse gone p0sitive,lets have some back here please !

[slapdash] 19/8/2009 13:39

worldwide have obviously taken the view that there is oversupply in the office market.... why own a company which is building offices and trying to let them with a huge management fee for this whole process..... i.e. we build empty buildings which we then keep empty for years but charge a massive fee for doing so!!!!!!!!!!!!!!!!!!!!!!!!! Slap

[nickcduk] 18/8/2009 22:16

No more disclosures from Worldwide are required.

[vlain] 18/8/2009 20:24

hope they clear out by the end of this week!
Do they have to declare once they have none left?

[nickcduk] 18/8/2009 16:06

Cayman likely to have a lot less that. They only had to disclose they went below 3%. They don't have to make any further notifications. My guess is they have sold a lot more.

[vlain] 18/8/2009 15:45

with Cayman off loading, I guess Nectrus won't be entering just yet.
Oh well another 9m to go!

[slapdash] 18/8/2009 12:09

Aleman - maybe... but you have to admit that management appears fairly slack here.... just seem to make little or no progress on anything....

as I have said before can't really trust NAV for assets which no one wants i.e. they can't let!!!!!!!!!!!!

However, this could be a trading buy on the basis of Nectrus having to buy loads of stock...????? Slap

[aleman] 18/8/2009 11:50

I think daytraders are creating an opportunity for longer term holders here. Had I not been a holder, I would have bought in on the news of this large undervaluation which was pretty much in line with what I was guessing when I bought in before results. No wonder they reckon 85-90% of day traders lose money. I reckon 40p in the short term seems fair if the NAV is still falling and 70-80p seems a decent target if NAV stabilises soon as is distinctly possible, although not necessarily probable as yet.

[katylied] 18/8/2009 10:55

badtime... Since the start of the year, the £ is ~14% up on the Rupee.

[nickcduk] 18/8/2009 10:31

Don't see why the NAV is being disputed. Nectrus will be in the market sooner or later mopping up a huge number of shares. That will bring the gap down. The cap rates being used for UCP valuations were 12.5% I think. That is far higher than you get in the UK for example. Once conditions return to normal those cap rates will come in sharply and the NAV figure will respond accordingly.

I guess a lot of the hot money in UCP is exiting. In current market conditions everyone seems to be chasing the next hot story. UCP isn't going to move in the same way as other stocks might do on newsflow but over time it should do well enough. I think once the share buyback kicks into force we should make it over 30p by the end of the year. More than a 50% return would do me fine.

[badtime] 18/8/2009 10:27

nope...ive taken a position on it weakening further against the dollar

[katylied] 18/8/2009 10:20

I think the 'real' NAV may be disputed, however going
forward, anyone expect the £ not to weaken again?...

[orinocor] 18/8/2009 10:00

Ive bought in for the 1st time this morning. Thankyou sellers. LOL. The company are looking at ways to narrow the discount to NAV. The NAV is 95p and people are selling at 18p. DOH!! Please keep selling.

[debbiegee] 18/8/2009 09:35

I guess today is the 1st possibility for them to come as they may have been privvy to info that was disclosed in the CC yesterday ?
As sure is eggs is eggs they will come !

[vlain] 18/8/2009 09:14

Where is Nectrus!

[katylied] 17/8/2009 16:09

The immediate prospects for commercial real estate in India may well be as bad as UCP's evident lack of enthusiam implies. On the otherhand, it may be that UCP's management are just fairly average, good mainly at collecting their pay. In which case, sitting on their hands is probably a good thing. When there is an upturn, you will know only by lagging indicators, while sentiment will be ahead of the game. Still, if I had held from 7p, I would also have taken profits. I don't, so this is still the kind of share (emerging markets, discount to NAV etc) I want to be in, when the next phase of the UK's economic collapse kicks off this winter...

[snurkle1] 17/8/2009 15:43

Have to admit... sold the lot this avo.
Been in from the 7p lows with additions to that and sold some along the way when the 2 month closed period came into play before buying back some more.
Made a nice sum, but I think this will retrace a bit, so sold to buy back cheaper.
The last 2 updates haven't given me any confidence and with the markets due a 20% dip over the next few months I feel more comfortable sitting this one out for a bit and very likely dip back in a bit later.
Will be watching.

Good luck everyone whatever you trade.

[slapdash] 17/8/2009 13:21

moderately glad I sold the lot Friday... but long-term could be good play..

Personally I think it is best to be cautious on NAV estimates.... how can something have a lofty NAV if no one is around to rent the thing... i.e. no one wants it!!!!!!!!!! Also over-supply is a major issue.... thus this is what is key.... so may do well long-term but this looks like a slow burn...

Slap

[snurkle1] 17/8/2009 13:06

Thanks Nick

[vlain] 17/8/2009 13:05

thanks Nick.
So we still have Netrus in play. Pull your fingers out Nectrus.