Wichford Share Discussion Threads

[cerrito] 01/11/2011 21:08

I see no one has set up a RDI page and it appears I am not the only share holder who has rather forgotten about these.
Interested to read the following and it was this that made me aware of the results today, which I will need to analyse.:
Redefine International (RDI) retained its "buy" recommendation from Evolution Securities, with a 50p target price. The property investment company achieved strong full year earnings of 4.13p per share, which the broker notes will fully cover the impressive 10% dividend yield. Evolution adds that occupancy remains high at 97%, even in its government tenant portfolio, which suffered spending cuts. The shares inched up 0.25p to 41.375p.

[grollfam] 17/9/2011 21:19

RDI.....multiply WICH times 7.2....

[dugganjoe] 17/9/2011 20:46

code for refedine or is it pvt

[justthemoney] 23/6/2011 17:16

I've sold after holding since Mar 2011. Got the recent div, but took an overall loss of 6%. Put the money into EMG and GMG.

[lord gnome] 21/6/2011 08:23

Finally bit the bullet and sold out. Horrid loss, but there it is. I was holding mainly for the yield at the current sp, but there is no certainty that it will be sustained post-merger. Other fish to fry. Good luck to any that remain.

[jacks13] 01/6/2011 16:16

Thanks Sleepy, not sure I want to throw any more cash at this one though.

[sleepy] 01/6/2011 15:27

i.e. fully pre-empting existing shareholders rights to subscribe???

[jacks13] 01/6/2011 14:24

Received my half-yearly financial report this morning. From the tone of Philippe de Nicolay's statement you could be forgiven for thinking that the Board has been doing a splendid job.
There's mention that the proposed merger with Redefine will be coupled with a future capital raising! Another rights issue?

In the Business Review section it says;

'..... It is currently expected that the preferred route for a Capital Raising would involve issuing new equity at a tight discount, on a fully pre-emptive basis. .....'

"Fully pre-emptive basis", whatever that means!

[druinsky] 27/5/2011 23:28

Government reveals results of attempts to reduce size of public property

Central government has shrunk the size of its estate by 5m sq ft this year, its own research shows. The Cabinet Office laid its annual State of the Estate report before parliament on 13 May. The results show the government has made progress in its plan to exit leasehold properties following the lease moratorium it brought in last year.

The Cabinet Office said the moratorium had led to departments vacating more than 150 properties that total around 2m sq ft. Government Property Unit managing director John McCread wrote in the report that government would continue with this strategy as a way to help stimulate economic growth.

"There is a significant growth opportunity for the economy from doing this, as prime city centre sites will become available for the private sector to use, helping to create jobs and wealth," he said.

Cabinet Office minister Francis Maude said the government would pilot new models of occupation in the next 12 months. He suggested this could save £400m in running costs over the next decade.

"The government does not need more office space. We need fewer, better workplaces that are more intelligently distributed and far more intensively used." The report shows the size of the government's estate fell 4.5% during 2010, from 115m sq ft to 110m sq ft (table 1). The number of properties held fell by more than 500 (table 2), and the government says the cost of running the estate fell by £120m.

NOT GOOD NEWS FOR THIS MESSY PUPPY

AND STILL THE SAME TEAM RUNNING THIS SHOWER

[lord gnome] 27/5/2011 19:21

You will have the same number of shares and they should be the same price. Redefine will however, be issued with over 2.7 billion new shares in Wichford and they will hold 58% of the shares in the newly enlarged company, so you will be diluted in terms of your percentage holding in WICH. Having siad that, the assets of the joint company will also be enlarged, so the NAV per share should be about the same or possibly slightly better.

[asher] 27/5/2011 17:02

Excuse me for my ignorance, but will you have the same amount of shares when the merger goes through as before or will your holding be diluted and will the shares be the same price.

[druinsky] 23/5/2011 22:10

If open market rents are applied you could see the NAV tank imho

[cerrito] 23/5/2011 21:49

Would have thought that the shares would have been somewhat weaker today after the issue of the interims.
Good to see that revenue has gone up and the vacancy rates(excluding the Harrow sites) is a very low 1.2% although as they say this figure will go up.
Interested to see no change in the composition of shareholders with 4%+ in the last six months; Some valuation declines in the UK property over the last six months not pretty; viz property no 9 Crescent Centre, Bristol down from £14.7m to £13.6m and no 10 Unicorn House Bromley down from £14.2m to £13.4m.
Luckily there were some useful increases in the value of the 4 German properties in the top 10, but not enough to stop an overall NAV decrease.

[druinsky] 07/5/2011 11:09

Yields on Greek government 10-year bonds have leapt to over 15%, a sign that investors are becoming increasingly sceptical that they will be repaid.

sending commercial property yields up as people fret over UK soverign debt crisis - all WICH properties let to government right.

[pnwillis] 07/5/2011 09:57

Strange that people are selling for less than the take out value. Any ideas?

[quazie12] 29/3/2011 12:08

fair do's PB

things prob will improve now and my sentiments about this loser management were prob shared by the financiers. The Chairman hadn't got a clue, his optimism when everyone else was heading for the exits was truly beyond belief. Surely there's no position for him down the line. Mind you that's often how takeover candidates are selected !

[purplebox] 28/3/2011 15:56

quazie,

I think you misunderstand this - you will get no Redefine shares as it's a reverse takeover.

In the long term it's a good deal but I'm sure that your viewpoint is different to mine as you participated in the RI while I bought in only late last year.

Yes - I was hoping for more, but my feeling now is that things will improve and there has been no mass selloff - in fact people are beginning to buy in smallish volumes.

[purplebox] 23/3/2011 09:14

It's a good long term deal - sorts out the finances and should be good for the share price

[purplebox] 23/3/2011 08:59

RNS - Potential Merger of Wichford and Redefine



There is a lot to read and understand here.

[dnfa1975] 19/2/2011 19:03

problem is the open market rents are all falling

any lease expiry will see property let on lower rents and then lower valuation

[lord gnome] 19/2/2011 18:45

Not a Monty Python fan then johnandrew? I find the title quite risible.

[johnandrew47] 19/2/2011 14:47

Does this board have the very worse title of all?

[masurenguy] 18/2/2011 10:11

Yes it does, although trading volumes are miniscule. We need to see some positive corporate action as a result of their 'strategic review' to really kick start the share price here !