Ucp Share Discussion Threads

[mattjos] 15/10/2009 08:29

still at it .. thre's another 1m in the first 1/4 hour

[dibbs] 14/10/2009 21:23

nickcduk, be nice to think that a few people will make it but I can't imagine many will. Do we actually have a confirmed date or are we still in the dark? I really hope that the AGM does actually yield some sort of meaningful update. As others have said the statemnet with the results made the right kind of noises but nothing has happened since.

From the results 2 months ago

"The Board notes with concern the significant gap between the Company's share
price and the NAV, and is undertaking a review of the possibilities to address
this and continues to explore this with the cooperation of our investment
manager, Nectrus Limited. We are looking to communicate an effective strategy
to the market in due course".

We are all ready to hear one so lets be cracking on then;-)

At the same time the price continues to follow a gentle up trend so things could be much worse.

Dibbs

[nickcduk] 14/10/2009 19:27

I hope a few shareholders can make it to Isle of Man for the AGM. They need to see a bit of shareholder grief.

[nickcduk] 14/10/2009 18:07

Paredeplatz dumping stock. Looks like they have made around a 30% return since July. Probably getting impatient that not a lot is happening when the rest of the market is rocketing. They have over 10m shares left to go unfortunately. I think they were undercutting the seller at 22.75p. That means we also have another large seller in the background so overhang could be 20m shares or so.

On the buying side Alpine Woods have been a bit slack with their reporting. I didn't ask the company who was buying all the stock around the time and they said they thought the share register was accurate. I still don't think it is as sellers who should have notified haven't bothered. They also reported a holding in TRC yesterday which was also late. Perhaps they genuinely don't know UK regulations.

It will be interesting to see who has been buying today and whether they carry on tomorrow. Unfortunately as Paradeplatz are below 3% we won't get any more notifications from them telling us. OTOH it shouldn't be that hard to figure out. They weren't exactly subtle with their selling today at 22.5p.

When Nectrus do get around to buying they should be mopping up around 5m shares a quarter. Should do some damage once large sellers are cleared.

[peterboroughmatt] 14/10/2009 17:50

2 holdings rns's released not happy about this one (well either tbh)

19 Feb wtf

TIDMUCP

RNS Number : 7963A
Unitech Corporate Parks Plc
14 October 2009

?
Unitech Corporate Parks Plc (the "Company")


NOTIFICATION OF INTEREST IN SHARES


The Company received notification on 13 October 2009 from
Alpine Woods Capital Investors, LLC ("AWCI") of the following:


As of the close of business 19 February 2009, AWCI had voting and/or dispositive
power with respect to an aggregate holding of 11,427,239 shares of the Company
on behalf of various AWCI clients. AWCI's current position represents 3.17% of
the issued share capital.

[celeritas] 14/10/2009 16:13

Some large orders on the order book today, could be the end of the overhang with the seller showing the last of it's stock.
Nectrus could actually be playing a clever game, why go hell for leather buying when the seller is happy to sell around here, take your time and get as much cheap stock as possible. Must come to an end soon.

[nickcduk] 14/10/2009 16:12

I think more than 1 seller in the market. One has sat on the book at 22.75 in lots of 500k and the other is leapfrogging them by selling millions at 22.5p. Difficult to gauge how much more there is left to go but judging by the selling I reckon there are many millions left to shift yet. Worldwide are prime candidates for the sellers but could easily be another party who have yet to declare their hand. On the flipside we should find who has been buying as well. If its Nectrus then I would expect some follow through from punters who have been waiting for the green light before diving back in.

[debbiegee] 14/10/2009 15:53

Over 6m traded and no change in share price !

[nickcduk] 14/10/2009 15:28

Heavy selling in the market today. Seller on the book at 22.75 in lots of 500k. More of the overhang being chipped away. Exactly what we need so that when Nectrus finally start buying we will have a nice easy ride up to over 30p at least.

[ajb270251] 14/10/2009 10:36

Celeritas,

Many Thanks

ajb

[celeritas] 14/10/2009 10:33

ajb, it is true that Nectrus do take over £6m a year of that £4.8m should be used to buy UCP stock, which at last count Nectrus have only bought £210,000 worth this year. This will be sorted at the AGM otherwise ucp will just look plain stupid.
As mentioned by a few above filling the office space is all important, fully let offices will increase the NAV and obviously do wonders for earnings.

You will probably find many conflicting reports on rental, it's going up, it's going down, India is a vast country so office lets will be very different in regions.
UCP have reduced the NAV quite aggressively, will it fall any more, maybe but the share price now bares no resemblance to a lot lower Nav.
This is only a small holding for me, I was intending to increase with the right moves forward, this is now delayed by lack of news.
I will hold a good while longer because like I said it's only small holding but the management need to start earning their pay packet like I have told them via email.

[slapdash] 13/10/2009 16:29

Hugepants - ur and have you worked out how much the management company gets "compensated for" each year.... . Katylied - agree key is to get tennants but this market is oversupplied so that is't easy...

If assets are say worth £300m then Nectrus get say £6m a year.. there is your rental income totally down the tube....


slap

[katylied] 13/10/2009 11:26

I think the 'cunning plan' has to be 'get some tenants'... :o)

[hugepants] 13/10/2009 11:24

slap, The assets will be generating £6.5M (at least) by early next year. Then there should be a few extra million generated from interest on the cash.
But I think we are due an update on the cunning plan they have to narrow the NAV discount.

[slapdash] 13/10/2009 09:08

HugePants... Nectrus get compensated on Gross assets I think rather than net assets...... they get paid loads and do very little...... they are taking away all the value from this thing...... assets aren't income generating but Nectrus are soaking them dry with management fees...... change Nectrus and we might have value here.... they tried to change the compensation system but didn't change the amount only the way it was paid...

Slap

[peterboroughmatt] 13/10/2009 08:55

its only a good deal if they honour their words.

Nectrus has to pay ucp compensation for an investment that when wrong maybe thats why they are not buying will have to wait until the agm to find out


Matt

[hugepants] 13/10/2009 08:48

Nectrus's management fee is £6M (I think!). 25% of that is to be deferred until the projects starting making money. And the other 75% has to be used to buy shares in the open market. So thats £4.5M to buy shares. I think thats a very good deal for shareholders (maybe not the £6M fee but the fact they have to buy shares with the majority of it)
At the current price Nectrus can buy 20 million shares, which is about 5% of the shares in issue. I wonder if Nectrus are mopping up shares just now but not updating the market yet.

[peterboroughmatt] 12/10/2009 13:56

going cheap again

[peterboroughmatt] 09/10/2009 11:59

There will be afew shareholders there dont worry about that.

Will be intresting to see what happens in the run up to the agm

[nickcduk] 09/10/2009 11:46

The AGM is held in the Isle of Man. Not sure any shareholders will turn up. Shame really as the board need to give Nectrus a boot up the backside and told to get on with the buyback.

[peterboroughmatt] 09/10/2009 11:31

Nectrus is just another arm of Unitech, i guess its just some form of tax avoidence in better times

Matt

[slapdash] 09/10/2009 11:28

doesn't inspire much confidence in Nectrus if they invest spare cash in something which losses 100% of its capital... in my view the directors here should dump Nectrus.... the renegotiation of the agreement was essentially the same fees but a different way of paying... all the value here is disappearing in Nectrus' pockets...

I had a look at PHU Pactolus accounts for example.. the boast a very high yield on their properties but all seems to disappear in "admin fees" in other words very high wages to staff...

[peterboroughmatt] 09/10/2009 11:25

This could be the reason why we havent seen any action from Nectrus:

Nectrus Limited, the Investment Manager, agreed to compensate the Company for
the loss incurred on a structured note investment of GBP5,475,761 made in
accordance with the investment management agreement. The investment matured in
May 2009 with no return of capital