Warehouse Reit Share Discussion Threads

[sleepy] 15/3/2019 09:23

Thanks rik

[belgraviaboy] 15/3/2019 08:47

Different quarters guys.

[rik shaw] 15/3/2019 08:26

The prospectus more clearly states 'New Ordinary Shares will commence on 2 April 2019. The New Ordinary Shares will, on Admission, rank pari passu in all respects with the Existing Ordinary Shares, and will rank in full for all dividends and other distributions declared, made or paid on the Ordinary Shares after Admission, save in respect of the dividend declared on 8 February 2019 and which is scheduled to be paid on 29 March 2019'

So whether you buy on the open market or through the offer it looks like the next dividend will relate to period ending 31/3/19 and will be payable around the end of June.

[sleepy] 14/3/2019 18:36

Really afpk?

“The New Ordinary Shares will rank in full for all dividends and other distributions declared, made or paid on the Ordinary Shares after Admission including the interim dividend in relation to the three months to 31 March 2019”

[afpk53] 14/3/2019 17:49

I'm not sure why the dividend is being mentioned. The prospectus seems to me to say that the new shares will NOT be eligible for the dividend due on 29 March. They will of course be eligible for the NEXT dividend, which is not due until July, but then so will any shares bought before the ex-div date in June, so why pay more than the open market price for the new shares?

[ronin92] 14/3/2019 15:28

@niggle
My sentiments too. ISA committed for the year already and with PID payments, it particularly matters.

[makinbuks] 13/3/2019 16:32

Difficult situation. I was happy with the size of my holding before this so why should I increase it 40%? On the other hand if I let it pass (and I'm in the majority) then a) the price is likely to fall sentimentally and b) next time they will just do a placing with the instituations

[jgh03] 12/3/2019 14:42

So buyers of the new shares will receive the dividend for the quarter ending 31 March. This means that the price is effectively 101.5, making the discount to NAV larger than that stated in the offer document and the premium to last night's closing share price being practically nil.

Edit: Perhaps paying a 2p premium and getting 1.5p returned as a dividend really means that the offer price is roughly the same as the market price.

[nimbo1] 12/3/2019 07:59

I was planning on taking part but now I’ll hold off and see what open market price does

[killing_time] 12/3/2019 07:42

Ok thats better than i was expecting. lets see if they can raise the money at that price.

[belgraviaboy] 12/3/2019 07:14

£100m at 103p

[spectoacc] 06/3/2019 07:38

Fair point - if people are willing to lend indebted property companies their money at c.4.5%, unsecured, then I say take it!

Let's see what WHR come up with - shouldn't be too much hassle to do an Open Offer with shareholder clawback.

[mridyard] 06/3/2019 06:56

I would prefer to see a 4.5% retail bond issued for say £100M. RGL had a similar problem last year, share price at discount to NAV. RGL managed to raise £50M no problem. I think there would sufficient appetite for such a bond.

[makinbuks] 05/3/2019 13:25

They got this all wrong last time so lets hope they've learned their lesson

[nimbo1] 05/3/2019 09:41

Agreed - would like the chance to participate.

[spectoacc] 05/3/2019 08:15

Agreed - if it's going to be at a discount to NAV, which seems likely, then existing holders must get the chance to participate.

At NAV - or a premium - and the institutions can have it.

[rp19] 05/3/2019 07:48

Happy with prospects but it is important that any fundraising is not at a major discount to the current price and that there is an opportunity for existing shareholders to take part.

[cheshire man] 05/3/2019 07:11

And here's why

The Company believes that the acquisition of assets identified in the pipeline would further diversify the Company's income and be accretive to shareholder returns, in addition to continuing to strengthen the portfolio's sustainability, quality and prospects for growth.

[belgraviaboy] 05/3/2019 07:07

Raising more money....

[skinny] 04/3/2019 15:58

Looking quite positive.


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[chucko1] 12/2/2019 15:16

Some of this, I think, goes right back to a year or so ago when they failed to buy that portfolio (I forget the details). The share was halted from trading for some period and upon resumption, got a bit of a kicking. I never really figured out why and so bought a bunch because the fundamentals appeared pretty solid, took a hit, bought some more, took another hit and shrugged my shoulders.

Nothing has changed - the fundamentals are good and the price is different. Why? Not sure, but did some holders believe the sky was falling in? Buy when there’s blood ...

Not too scientific, I admit, but then nor was its fall.

[spectoacc] 12/2/2019 15:01

@nimbo1 - without Brexit even being resolved! But I see it more as them having being beaten down uneccessarily, certainly in the case of eg WHR & RGL. All they've done is dcb back to where they were. (Expecting greater things from both of course).

[nimbo1] 12/2/2019 14:35

quite a turn around in sentiment towards some of these reits