Ucp Share Discussion Threads

[nickcduk] 16/10/2009 07:48

Thats pretty bullish Nectrus only mopped up 400k of yesterdays 5m or so trades. It means we have a very keen buyer looking to load up. The deeper pockets argument might be slightly skewed if the buyer carries on his bidding.

[eugene1234] 16/10/2009 07:26

RNS Number : 8791A
Unitech Corporate Parks Plc
16 October 2009



Unitech Corporate Parks Plc

("UCP" or the "Company")



16 October 2009



Investment Manager's Shareholding





Unitech Corporate Parks Plc (AIM: UCP), a leading investment company focusing on commercial real estate in India, announces that on 15 October 2009 it received notification that on 15 October 2009, Nectrus Limited, the Company's Investment Manager, acquired 400,000 ordinary shares of 0.01p each in the capital of the Company ('Ordinary Shares') representing 0.111% of the issued share capital of the Company at a price of 22.5p per share. Following this transaction, Nectrus holds 6,700,000 Ordinary Shares, representing 1.861% of the issued share capital of the Company.




This purchase is further to the changes to the Investment Management Agreement announced to the market on 19 February 2009.

[nickcduk] 16/10/2009 06:53

DLF reporting increased interest in leasing is very good news. It was only a matter of time before demand returned and companies starting making decisions on space. UCP have a lot of space ready to let so can meet any immediate demand. Lots of projects are on hold and will continue to stay that way until the likes of UCP have cleared their space. Hopefully AGM will have some positive news on leasing progress. If they do then we could see some real momentum building.

[celeritas] 16/10/2009 00:07

Looks like office leasing is picking up traction.




Mumbai: DLF, India's largest realtor by market capitalisation, is seeing big traction in its commercial office space leasing business.

A source familiar with the development said DLF leased out 8 lakh square feet across the country in September.

It is now expected to sign a mega leasing deal for 1.8 million (18 lakh) square feet in the next 15 days, the source said.

The deals that DLF has already signed are "pre-leased". In realty terminology, this means it will take 6-12 months before companies move into the premises after fit-outs or furnishings, etc.

In Gurgaon, DLF has leased space at Rs60 per square feet per month and in other places at between Rs40 and Rs50 per square feet per month.

Analysts said the leasing agreements signal recovery in commercial realty segment, but DLF is still not ready to relaunch projects that it had put on the backburner.

Instead, the realtor is set to launch three residential projects in the current quarter.

The projects will be in Chennai, Gurgaon and a new territory in the western zone -- Goa.

The company did not respond to queries from DNA.

A DLF spokesperson had told this paper a few days back that "sales are happening but a full recovery is expected only after 6 months".

An analyst from a domestic institutional brokerage, requesting anonymity, said the leasing rates are "a very encouraging sign".

"The prices at which DLF has booked may be less but it surely indicates that the sentiment is improving," he said.

That's because as a thumb rule, every 100 square feet of commercial development creates demand for 800 square feet of residential premises.

"That way, these deals are very encouraging."

Rival Unitech Ltd, the second-largest realtor in India, has racked up sales of Rs4,000 crore in the first 7 months of the current fiscal.

About 10.1 million square feet of space was booked which includes residential and commercial properties, Unitech said.

Saurabh Kumar and Gunjan Prithyani, analysts with JP Morgan, in a report dated

October 12, said the average selling price of these properties for Unitech is Rs3,870 per square feet -- the average price was helped by contribution from commercial projects, they said

[celeritas] 16/10/2009 00:04

Before people say it's not this ucp, it is all related and relevant.



Unitech sales at Rs 4000 crore in 6 months


NEW DELHI: Unitech, India's second-biggest real estate player by revenue, on Tuesday said it has booked sales worth Rs 3,913 crore in the first six
months of the fiscal 2010, selling 10.11 million sq ft, which is almost the same space sold by it in each of fiscal 2007 and 2008 - the boom years for real estate.

Out of 10.11 million sq ft, 8.16 million sq ft was booked in the residential segment, the company said in a presentation dated September 30, which was made public on Tuesday. It said these figures did not cover PLC, parking and club charges. In the past fiscal, Unitech had sold only about 3 million sq ft in 2008-09, as buyers shied away from the real estate sector in the face of the global slowdown.

"The target is to sell 20 million sq ft this year," said a Unitech spokesperson.

The average basic sale price of its projects though has dropped to Rs 3,234 per sq ft during March-September 2009, compared to an average of over Rs 4,000 per sq ft for its projects before September 2008, indicating that the company's strategy to sell smaller units at lower prices drew response from buyers.

[mattjos] 15/10/2009 22:42

Excellent spot Hugepants .... so glad to see their recriutment thrust is sales & marketing staff. Expect much will be made of this at the AGM :-)

[mattjos] 15/10/2009 22:40

frustrating .. but also interesting. Matt your point is well made re. depth of pockets ..... given the relatively simple maths of what Nectrus is obliged to do, I conclude that Paredeplatz is either a forced seller or simply a fed up seller who has made a bit and wants to move on. However, seems to be daft to just chuck the sink at it right now ...... think i'd want to keep some back, something 0-3%, & see if another buyer emerges or at least see where the market may take it after selling evidence dries up & drip the rest back long term.
I'm trying to work out if this whole UCP/Nectrus arrangement is a tax dodge, financial loop-hole, old-boys network or what?
The mm's are laughing all the way at the mo ... Paredeplatz would be better picking up the phone to Nectrus & arranging a meeting to exchange briefcases & get the job done over a beer. Watch & wait i guess.

[hugepants] 15/10/2009 22:38

Yes Nectrus have to watch out because they may find they cant buy cheap shares soon. They are still have to buy a lot more to fill their quota.


Unitech are back hiring
New Delhi, Oct. 14

[celeritas] 15/10/2009 15:26

Nectrus get more of the shares at lower prices, why pay 30p when you can get 3m extra at 22.5. Should see another holding rns in the morning. Things change suddenly in this game, another buyer could be around for all we know.

[nickcduk] 15/10/2009 15:21

Matt,

Im not sure why are you are so aggrieved that Nectrus have been in the market picking up stock. Whether they purchased it in small lumps or in large amounts as they have makes no end difference to the objective. All the way up there have been large sellers capping the price rises. It would have been no different had they brought in smaller lots. The seller would still have been there.

[peterboroughmatt] 15/10/2009 15:19

Celeritas

which buyer are you refering to?

Looks like Nectrus took another 5 million today and now sellers are taking the price down.

All comes down to who has the deepest pockets and im afraid it aint Nectrus

Matt

[celeritas] 15/10/2009 15:17

Looks like back to normal, seller won't take much less and the buyer wants to keep below 23p.

[nickcduk] 15/10/2009 14:16

I think Nectrus might be done for the very short term. I wouldn't mind if they stepped aside and Paradeplatz chased the price a little lower. Happy to add again nearer 20p.

[celeritas] 15/10/2009 12:46

From my calcs that works out Nectrus stll have around £3.025m to spend on stock. The agreement was made in February so I would think the extra £3m will have to be bought by Feb 2010. That's circa 10m of stock at 30p.

[nickcduk] 15/10/2009 10:44

I think Nectrus being in the market can hardly be deemed bad news. They needed to buy in stock in size and Paradeplatz selling helped fill their order. Still has the desired effect of effectively reducing the free float and chipping away at the overhang. The buyback is rolling so every quarter they will have to find circa 5m shares to hoover up. A tipping point will soon arise where they will struggle to find sellers and the share price will spike sharply higher.

I think at some point Unitech will decide to just take UCP out on the cheap. Just when Indian office demand looks like picking up sharply will be the most opportune moment. Having highly rated paper would allow them to offer their shares as consideration.

Downside should be pretty limited now as the lower the price the more shares Nectrus will take out of the market.

Aleman - It doesn't really explain why they decided to announce their holding yesterday.

[aleman] 15/10/2009 10:25

nickcduk

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.

Active (voting) funds have to notify at 3% and each 1% above but many people aren't aware that passive (non-voting) funds only have to notify at 10% and each 1% above. How you differentiate between the two, I don't know, since everybody wants to vote if the circumstances are right. Most funds declare at 3% anyway to reserve the right to vote but I have read of a couple of funds not notifying until 10%. I think they were both German actually. I remember one was a Deutsche Bank fund.

[parvez] 15/10/2009 10:18

If the investment managers are buying, surely it is a good sign...I will be looking to buy more on the hope that these will tank soon..

[peterboroughmatt] 15/10/2009 10:14

Well Nectrus have clearly just done a deal with Paradeplatz.

Whilst they will get away with saying it was on the open market it all looks abit fishy to me, have just sold half my holdings to them as well and will leave the rest to see what happens at the agm.


Matt

[katylied] 15/10/2009 10:01

Oh good... They paid more/share than I did!.. :o)

[nickcduk] 15/10/2009 10:00

Nectrus finally woken up. No need to give them a kicking at the AGM any more.

[mister md] 15/10/2009 09:57

on 14 October 2009, Nectrus Limited, the Company's Investment
Manager, acquired 5,000,000 ordinary shares of 0.01p each in the capital of the
Company ('Ordinary Shares') representing 1.389% of the issued share capital of
the Company at a price of 22.5p per share

[mattjos] 15/10/2009 09:56

well Nectrus was the buyer then .. would be nice if a third party was also in the fray buying

[5dally] 15/10/2009 09:03

Well I have my shares tucked away,,,I can wait for what I think will be great rewards here all IMO

[nickcduk] 15/10/2009 08:32

Would be nice to see around 10m shares get traded today. That would probably clear out yesterdays seller. Then we just have to work our way through the next one. Will make some enquiries about AGM date.