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Share Name Share Symbol Market Type Share ISIN Share Description
Workspace Group Plc LSE:WKP London Ordinary Share GB00B67G5X01 ORD GBP1
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.50 0.06% 875.50 875.50 877.00 878.50 854.00 854.00 72,609 16:35:14
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 142.3 -235.7 -130.3 - 1,586

Workspace Share Discussion Threads

Showing 7626 to 7649 of 8500 messages
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DateSubjectAuthorDiscuss
11/7/2011
07:51
I think I've finally got it. My theory: at the end of the day the ex-rights date is the important one. The company will however sort everything out according to the list of holders on the record date. Shares bought and sold between the record date and the ex-rights date will have the rights transferred by the brokers. A bit like the ex-dividend date and record date with regard to dividends (only in reverse...) So tomorrow should we see a price drop of around 1.5p and some 'rights' appear in our portfolios?
catcheemonkee
10/7/2011
23:39
As I understand it, the point of the record date is that you must hold the shares on the record date to be eligible for the rights issue. So if you do not hold on the record date, you are out of the game. But if you do hold on the record date, you still have to hold until the ex date to get the rights. Otherwise what is the point of the ex date? The ex rights date is just like the ex dividend date.
melody9999
10/7/2011
22:49
So what's the point of the record date being the 5th, then? Are we saying that you need to hold them overnight 11th / 12th July regardless of whether you held them on the 5th or not? Ginger nuts.
catcheemonkee
10/7/2011
22:07
Actually - I think that melody's broker is correct. Shares held on the 5th qualified for the RI but if you sell them before the 12th you sell your rights as well...
purplebox
10/7/2011
18:57
brando69 Thats the way I understand it which is why I sold some of my holding. I see these holding at around current price until new shares are issued at which point some profit taking will take place. After that who cares off to the races then.
red army
10/7/2011
15:17
surely as long as you held on 5 July it doesn't matter if you sell subsequently. doesn't going ex rights on 12th just mean that is when the new shares are admitted for trading? but holders on the 5th july have until 26th to take up their allocation or let the underwriter take them?
brando69
08/7/2011
23:00
Stockadoodle - 8 Jul'11 - 16:12 - 7494 of 7495 Stocka! - I thought you were dead ;-).
purplebox
08/7/2011
22:33
Catchee 7491 - I spoke to my broker today about the rights issue. You had to hold shares on 5th July to be eligible for the rights issue. So if you bought on the 6th you would not receive the rights entitlement. But the shares do not go ex-rights until 12th July. Rather like a share going ex-dividend, you have to hold them on the ex date to be eligible. So you need to hold shares until the 12th to be eligible for the rights issue. I did not understand this until today, and sold some of my holding yesterday. My understanding is that, although I held these at the record date, because I will not be holding them at the ex date I will not get the rights entitlement. and I cannot 'buy them back' with the rights entitlement because we are past the record date........ You live and learn I guess. If anyone has a different understanding (and have checked with an IFA or broker) I would be interested to know.
melody9999
08/7/2011
16:12
News published in IC for those interested Workspace raises cash Created: 8 July 2011 Written by: Stephen Wilmot Workspace has announced a one-for-four rights issue at 23p a share to raise £63m. The London small-business landlord plans to use £50m of the cash on a programme of property improvements that will increase its rent roll by £11m, according to chief executive Harry Platt. Some properties will gain extra floors; others will be extended onto vacant land; one Southwark office will be refurbished with a shiny new atrium. In total, 12 buildings will benefit. The remaining £13m will be spent on acquisitions for the company's joint venture with fund management giant BlackRock. Mr Platt thinks it's a good time to buy in Workspace's niche – period industrial buildings in the inner suburbs – and has his eye on £200m worth of property. "There are huge opportunities at the moment," he enthuses. The risk is that Workspace will not manage to fill the extra space. At 86.4 per cent, like-for-like occupancy was flat over the second quarter, compared to the previous three months. But that was an improvement on the previous year's figure, and the rent roll crept 1 per cent higher as the group managed to extract slightly higher rents from its tenants. Workspace's tenants are a diverse and resilient bunch. But times are tough for Britain's small-business community, and the recovery in occupancy seems to have stalled. Moreover, the shares have performed well and the discount to net asset value we spotted a year ago has closed. The group's improvement plans are sensible, but at 28.75p, we are cautiously downgrading our advice on the shares to fairly priced.
stockadoodle
08/7/2011
09:40
seems that those selling the shares to cover the cost of the rights, or selling because they expect share price to fall, are being offset by those buying into the story based on the IMS
brando69
07/7/2011
19:42
brando69 - 7 Jul'11 - 18:11 - 7490 of 7491 you mean at 29, down .25p Yes - fancy me getting than wrong - I must have been overcome by all the excitement! CatcheeMonkee - 7 Jul'11 - 18:16 - 7491 of 7491 As the 'Record Date for entitlement under the Rights Issue' was 5th July, has the correction in price now taken place - i.e. holders as of 5th July will get the rights. If so .25p down considering the rights are worth around 1.5p per existing share = very good day today? Yes - WKP gave up having bad days a few months ago :-).
purplebox
07/7/2011
18:16
As the 'Record Date for entitlement under the Rights Issue' was 5th July, has the correction in price now taken place - i.e. holders as of 5th July will get the rights. If so .25p down considering the rights are worth around 1.5p per existing share = very good day today?
catcheemonkee
07/7/2011
18:11
you mean at 29, down .25p
brando69
07/7/2011
17:54
Closed at 28.75p - down 0.25p :-). The rest of the sector took a hammering today...
purplebox
07/7/2011
14:37
There are a number of companies buying properties outside of their "normal portfolio" ie British Land etc and this clearly tells me that they feel that the sector is on the up in terms of valuation. I strongly feel that various asett classes have only one way to go in the interest of inflation which will in my opinion be the one major factor that makes all of the borrowing look cheap. Over the next few years this will be the one major issue affecting us all and companies see this as a means of protecting their wealth.
red army
07/7/2011
12:30
important to reward existing shareholders and not the speculative newcomers
brando69
07/7/2011
12:24
This is very good news - HSTN (Hansteen) did a very similar RI back in April and raised new capital - and their share price only weakened very slighty and has since moved back to its pre RI levels. The WKP management would not be doing this if the share price had not been so strong over the past few months. It's a nice discount and I can't imagine that the underwriters will be left with any :-). Anyone care to speculate on how the money will be spent?
purplebox
07/7/2011
11:57
they have a focused strategy they are not just throwing money into a hole that makes a big difference
brando69
07/7/2011
11:54
I've read through the announcement and I like what they're doing. They are right to invest now when there are some cut price deals to be done. Some of the bigger firms are reliant on mezzanine financing at extortionate rates and with this cash injection WKP will be in a very strong bargaining position. We all understand that in the property game, the money is made in the buying. Salty
saltaire111
07/7/2011
11:47
I'll be taking up the offer in full. May look to top up with a few more as well.
catcheemonkee
07/7/2011
11:21
The RI is sound for growth Brando. This can only benefit the business. I'd expect a little selling as some sell some of their shares to fund the RI. But in the long run I've found your better off keeping your holding and taking up the offer with fresh capital (if you have it available).
mreasygoing
07/7/2011
09:27
i've seen this before institutions buying big even tho they can't get the rights. it's all about what the funds are being used for here they are to expand and accelerate profitable activity not to keep day to day operations afloat/tread water
brando69
07/7/2011
09:14
2m shares traded in two lumps at 29p - it does not make sense if these are buys??
red army
07/7/2011
09:11
One thing is for sure I will be taking my full rights up.
red army
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