Share Name Share Symbol Market Type Share ISIN Share Description
Ucp LSE:UCP London Ordinary Share IM00B1HWL911 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 2.60p 0.00p 0.00p - - - 0 06:37:29
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 0.0 -19.3 -5.4 - 9.36

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Date Time Title Posts
04/4/201516:23its a buy, end of!2
22/1/201516:55Unitech Corporate Parks - Indian foreign investment3,851

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scburbs: Good to see the share price ticking up on news of a purchase 6 months ago! Brookfield seem to have been rather tardy with their disclosure. "Unitech Corporate Parks Plc ("UCP" or "the Company") received notification on 20 September 2012 that on 15 March 2012 Brookfield International Bank Inc. (formerly Trilon International Inc) acquired 4,000,000 ordinary shares in UCP ("Ordinary Shares") representing 1.1% of the Company's issued share capital at a price of 30p per share. ... Following this transaction Brookfield International Bank Inc is interested in 56,955,005 Ordinary shares representing 15.82% of UCP's issued share capital."
darlocst: Nice link Horndean Eagle. Unitech hold 40% balance of the 6 SEZs. UCP hold 60%. The link mentions that Unitech hopes to raise $400m to $600m by listing their SEZ portfolio in Singapore. Timeline 3 to 4 months. This seems to be a variation of the Unitech Infra proposal that Unitech came out with last year which doesn't seem to have gone anywhere since. That values UCP's share @ $600m USD to $900m USD UCP market cap = £80m ==> $130m USD. A slight valuation mismatch there! Actually looks on the ambitious side given the NAV, which will now be on the up again, only values UCP at $300m USD approx and why would any serious investor buy into this Singapore REIT when they could get exposure via UCP for a lower price? So if they are going to get this off the ground they are either going to have to come back with a better offer for UCP or work with UCP to serious re-rate the shares over here. The current valuation of UCP looks way too low to me at the moment anyway. The letting news this year has been excellent and UCP will be pulling in £20m per year revenue in two years time based on 5m sq ft let. The 6 SEZs have a total sq ft potential space of 20m sq ft so plenty of potential to increase let-able space as demand grows. Balance sheet is net cash. The downside here is surely minimal and the upside multiples of current share price.
nickcduk: Conference call on Monday should be an opportunity to gauge what current market sentiment is like. I would guess they are erring on the side of caution. They have made leasing progress during the period and should be in discussions for further space. NAV came in better than expected and the company would have actually been profitable without writedowns. Unitech had cheekily borrowed cash from the spv, albeit at market rates and have now repaid the amounts. Thats why we seem to have more cash than we did previously. Markets are currently being priced with recovery in mind. That being the case UCP share price should be looking forward and should still be markedly higher. On a discount to NAV of 80% and the current share price virtually covered by cash I don't really see why anyone would be looking to sell.
kenmitch: The Analyst. Thanks for posting those links - though I had seem them, either here or on Mike Walters bb. I'm not too worried about the state of the Indian property market as the current UCP share price has priced in disaster already. But clearly worries about the balance sheets of both Companies are a bigger worry - these and the other negatives we've posted tend to get ignored here. e.g the fast burning of cash and the empty properties. As said before the longer it goes on that there is no Unitech buying of UCP shares and no Director buying once they are able to do so again, then the more worrying it becomes. Ditto if the expected RNS doesn't materialise for weeks..... and then weeks. It's worth repeating - either the share price is a steal, or there is something wrong. That something could range from minor accounting or other porkies (which would give the shares a lift probably as the share price is pricing in much worse) to Enron style porkies leaving shareholders then knowing why the share price was so low, and probably sending it much lower still or to zero! So imo not one for the risk averse or those deperately trying to recover from other bear market losses, except for a small stake. UCP should be a multi bagger based on the facts currently known. If only there weren't such doubts - but then if there weren't the shares would be a good bit higher. Hence the suggestion that they are worth a punt with money people can afford to lose.
kenmitch: Camponar2. I largely agree and that's why I hold the shares! I also agree that the share price is far far too cheap - unless there are negatives that we have all missed. This probably does not apply to UCP of course, but remember some Companies have proved to be complete frauds - e.g Enron. I also remember Versailles getting tipped in the Sunday papers just a couple of days before that one too was exposed as a fraud. It does happen. OK as Nickcduk has said already if we take that approach to our investments then we would never invest in any share, and it only happens rarely. BUT when a share price looks far too good to be true, as the UCP share price does right now then it is a good idea to probe to find out why. It's worth repeating - if Directors don't buy when they next can following the next RNS then why not? They too should know that if the Company is wound up we would get far more than 9p a share. And if they also know that there will be no need to wind up the Company and it is going to thrive then buying the shares at 9p is a no brainer. Either UCP is far far too cheap and the buying opportunity of a lifetime or there is something wrong. Hope it is the former.
kenmitch: Re. the replies. I'm not making a big issue out of the share price fall - except insofar as it is disappointing following an investor event that fans had high hopes would lead to a share price rise. As explained before I know markets are having a very bad run again but also as explained before some Commercial Property Trusts have bucked that - like APT up 20% this week. The other points I've raised in post 856 and in the links in that post are far more important imo than short term moves in the share price. I hope there will be at least a couple of well informed replies addressing those issues. macansy. This is off topic. re. MW site. Fair comment. His bb is very good again now though. Far fewer posts but normally good or very good quality. The days when too many focussed on too few blue sky shares like TDM and MDX are long gone. MDX was a disaster as Mike Walters warned it might be but few were prepared to listen. That's a common bb fault and although I doubt very much that UCP will prove to be a disaster, even on this share, on this bb, there is a reluctance to discuss the negatives for some reason. It is a weakness of too many bbs but one that has been corrected imo on Mike's since the demise of the blue sky favourites. Bearish posts get as much support as bullish ones and that's how it should be, since the aim of posts anywhere is to help people make profits and just as important to avoid losses too. Finally what you don't get there are the endless and pointless posts saying nothing other than that the share price is about to go up a lot. Such posts - and it happened on this thread before the UCP share price fell this week, can wreck bulletin boards.
kenmitch: I don't know what to make of the above Unitech news. Does anyone else? Going by the UCP share price fall today any market response so far is negative. Another point. When the market knows there are big sells in the offing the share price tends to fall in advance of that selling. Yesterday we learnt potentially price sensitive information that Unitech would be buying UCP shares soon but there is no sign of the reverse happening with the shares rising ahead of that buying - if it ever comes! I find the falling price today very disappointing following the event yesterday that was partly intended to reassure investors that the shares were very cheap. All the evidence/information available to us from UCP including NAV at well over £1 and £60 million or so cash and no debt back up the view that the shares are grossly underpriced. Surely instead of continued fund and other selling buyers should be hoovering up shares at this depressed price? If they don't soon then why not? It's far less clear to me what is going on at Unitech itself. Knowledgeable posters here convinced me that if the worst happened and Unitech went bust that would impact favourably on UCP. Could the market think otherwise and that be a reason why the UCP share price has fallen?
kenmitch: nickcduk. Thanks for the reply re buybacks and the link to the article. If such huge sums really are heading for the sector that's very good news - hope we can find the right ones to invest in! I still like KEIF - but bought far too soon at 45p - and wonder whether you have any current views on KEIF? The fact that they've managed several disposals at around cost or even a profit is a big plus imo. Re. UCP buybacks. Though usually strongly against them as you know, the opportunity for UCP to do so with the shares at 4p probably was an exception. Though whether the shares would have sustained any rise thanks to the buyback and shorters scrambling to close positions is debatable. I'm pleased you agree re IERE buying back their shares. Luckily I got out of IERE around the price I paid ages ago but have recently bought them back as the selling by income funds once they cut the dividend, and the continued selling by L and G - I see they are now under 3% - seems to have sent the share price far far too low at just 7p. They certainly cannot afford buybacks imo and want to avoid any increase in debt as debt remains a problem, - the more so if they are unable to make needed property sales. So imo riskier than UCP with no debt but a potential multi bagger - and possibly a recipient of some of that 50 billion mentioned in that article? I agree strongly with you btw re the more fanciful UCP share price predictions being made here. It's always a shame when very good ADVFN bbs get taken over by newcomers and/or rampers who seem to have limited knowledge, and whose main interest is in endless posts predicting/discussing short term share price movements, or having a go at informed posters. There are already signs of that happening here with nearly 100 posts since I last looked and no more than half a dozen worth reading. Also UCP is a Sets share and so there is not a lot of point posting about MM games. This is probably a plea falling on deaf ears but please only post if having something worthwhile to contribute.
kenmitch: nickcduk. Am very pleased to learn that you will be speaking to them on Friday,and will look forward to learning what you find out, including on Director share buying if you are able to ask. Already they have missed out on a chance to buy way below the current price. Just one point about buybacks. Though as you know, generally I think they are a waste of money, I can see that UCP could easily afford to buyback 20% of their shares, or indeed even more, and that would solve the problem of the current overhang - assuming there still is one. But is it worth asking them what effect if any they think buying back such a large number would they expect to have on the share price, as large buybacks have not worked for others - e.g Dolphin. i.e I feel that even such a huge buyback would not necessarily lead to an increase in the share price. Do they feel that too or are they confident that a very large buyback would give the shares a good lift? No point imo going for one unless they are confident about that. Or have other convincing reasons for buying back - not that those are likely to convince me! btw as an aside, UCP buying back is not as big a no for me as for the likes of IERE where debt is an issue. I feel very strongly that they should not be wasting precious cash and/or increasing debt on buybacks. e.g if they decide to wind up, the prices they get e.g for property sales will count far more than any apparent increase in NAV resulting from buybacks imo. And if they don't wind up then in time - and this applies to UCP too - the share price will take care of itself when things return to normal and more big buyers return. Meantime those predicting that the UCP share price is heading for a price around NAV are either ill informed or living in cloud cuckoo land and possibly both. Expect the shares to trade at a discount to NAV even in good times.An Indian share quoted on AIM is not everyone's cup of tea. Even so with the discount to NAV still massive there is plenty of scope for the shares to triple or more from here, even this year with luck, and assuming no hidden negative that we've all missed - which could also explain why Directors have not bought while the share price has still been low since the seemingly excellent results. Good to see the huge rise today though. Hope it doesn't bring a big increase in the number of posters here though - unless the posts are going to be similar in quality to those of recent weeks and from nickcduk especially.
kenmitch: Nickcduck. Thanks again for providing so much free, quality information. Thanks too for the reply re buybacks. I've not had time - and won't today - to go through the results and figures in detail. At first glance this looks a potential multi multi bagger so there must be a catch and I'm trying to find it. So questions - possibly for you to put to them when next in contact? 1. What would be the effect on UCP if the parent Company went bust? Is that possibility ( or isn't it a possibility?) a factor behind the seemingly incredibly low UCP share price? 2. Rental income is forecast to rise to £7.943 million by 2010. Is that far too rosy a prediction, and what are the chances of a big increase in voids? Already they have mentioned a slight rise in vacancies. 3. Can you try and find out more about what possibilities they might be considering in their review? (I know we disagree re buybacks. I can see the obvious logic in your argument that spending around £5 million to buyback around 20% of their shares looks a no brainer. True it would remove the overhang. But short term even that might do nothing for the share price until there is other serious buying. Buying back even that large amount might not even lead to a rise in the share price short term based on what has happened elsewhere in the sector following heavy buybacks.Long term though if the figures and news today are to be believed the shares should multi bag in time anyway). 4. If my worries about the parent company are correct (I realise I could be way off beam on this) then what would happen to UCP and the UCP share price should they go bust? If all is as it seems then UCP shares are going to multi bag in time anyway, so fwiw I hope you don't try and persuade them to go for the buybacks. Cash is so precious right now and the evidence from other buybacks in the sector when the shares looked to be crazily cheap and at massive NAV discounts, only for the shares to crash again after the buybacks means imo that they should not go down that route. Perhaps if others know of any other reasons for the crazy low share price and why (unless it is distressed selling?) anyone would want to be getting out at this price, could they please post what most of the rest of us seem to have missed?
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