Urban Exposure Share Discussion Threads

[yieldsearch] 29/7/2020 12:16

Ok noted tks

[jbarcroftr] 29/7/2020 12:13

And they have just given themselves permission item 11 at the AGM

[jbarcroftr] 29/7/2020 12:06

Simon Thompson says in IC
He is close to the company

[jbarcroftr] 29/7/2020 11:40

Share buy backs Ilkley to start soon

[stemis] 03/7/2020 00:10

Depends how long it takes to get the other 20%.

Based on a price of 56p, 80% of 70-83p in 7-15 months means a return of 0% - 19% (in 7-15 months) with another 25-30% in some indeterminate future period (but longer than 15 months).

I managed to get a few at 53.5p, which seems a no brainer but I'm not willing to chase the price higher.

[solarno lopez] 02/7/2020 14:17

it has risen Boystown just now

[boystown] 29/6/2020 12:39

If NTAV is 84p (but could rise) and Simon T reckons 50% upside on 55p, then c.75p would seem a very reasonable target to me as long as, as you say Wlliamcooper104, that it's in a tax wrapper. Patience required - but not THAT much patience, hopefully.

[williamcooper104] 29/6/2020 12:36

Be carful of tax situation on this one If it's not held in a pension/ISA/corporate it's brutal as you will pay tax on full return of capital (eg pay tax on your return and on your investment) and get a capital loss (being value of initial investment) that you may well not be able to offset anywhere else

[solarno lopez] 29/6/2020 12:26

That's more like it

[boystown] 29/6/2020 12:13

Tipped in the IC by Simon Thompson who concludes:

"...the maximum cash return could be 50 per cent above the current share price. NAV-accretive share buy-backs are a likely catalyst to drive up the share price, too. Value buy."

[solarno lopez] 29/6/2020 08:23

Gone quiet again

[yieldsearch] 26/6/2020 08:50

Financial results for the Y ended 31dec2019 posted

[cjohn] 22/6/2020 16:56

hedge fund harry
19 Jun '20 - 09:52 - 119 of 131

What's not to like? The shares at 55p to buy are a gift and with tender offers every 3 months you may be able to exit your entire position by September.




I think you're assuming that the tender offers are at NAV. My guess is that they'll be at a level between the prevailing share price and NAV: ie a bit above market price. This'll allow the offers to increase NAV per share of the Company post-tender.

[cjohn] 22/6/2020 16:52

Yieldsearch "So yes the legal fee is hefty but it sounds to me that the couple is litigious."

That's the nub of the matter. It was better to get them out quickly, (and Takhar and Chairman) and avoid a protracted dispute. If this meant covering their "134k + costs", sobeit. Likewise, the various figleafs in the explanation given to cover their disgraceful behaviour - a few polite words to save appearances to smooth their way out.

This is an example of corporate governance and rules working, thankfully. Well done to the Company.

[stuffee] 22/6/2020 16:43

Yieldsearch

".... subject to the borrowers being able to refinance...." This is crucial!

[yieldsearch] 22/6/2020 15:28

If the share price is weakening further , it is just an opportunity to add. The recent notice provided the nav, an estimated range of proceeds and estimated timeframe. Not clear to me what else need to be provided.

In term of timing, i would expect the borrowers on the loans have been informed of the plan to liquidate the company. Clearly urban exposure has to support them to ensure that the loan is repaid. but would expect a number of borrowers to refinance their loan here away from urban exposure, as they have really no incentive to keep the relationship and make more sense for such borrower to move their business to a lender still lending. So we may receive some bulky payment relatively soon, well subject to those borrowers being able to refinance away.

[solarno lopez] 22/6/2020 09:03

Crazy as we expect to see the start of funds returning in the next 7 months on a quarterly basis so no doubt within the next 3 months

What's not to love

[solarno lopez] 22/6/2020 06:48

Many thanks Yield Search

[solarno lopez] 21/6/2020 11:04

Having read Rule 13 does anyone know its consequences if Mr Tchenguiz fails to pay as the rule seems pretty ineffectual

[cjohn] 20/6/2020 07:50

Yes, it is.

However, it could have developed into a stand off with persistent legal and time costs for the Company.

At least this way, the Company is going to get the loan back and, thankfully, the Sandhus are out without causing yet more problems, as is the Chairman who nodded through the loan.