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Deckchair, Did you have a night out or a night in? Did you receive the 55pps?
Looks like somebody has bought a few at the end of trading...not sure how much each trade has cost them though...
I bought just a few on that gamble, nothing serious , but it will pay for a night out, or I'll have a night in !....
I agree with you on the date....maybe the MM are going to get 55pence per share!?
It says:
"The Company notifies Shareholders that 14 April 2023, being the ex-entitlement date for the Second Return of Capital, is the last date by which Shareholders are required to hold Ordinary Shares in the Company in order to participate in the Second Return of Capital."
Surely, if yesterday was the record date it would say so? Although they use the term "ex-entitlement date" it seems to imply that 14 April (today) is the record date, not yesterday.
Have to say that last night's RNS isn't very clear. It suggests to me that if you hold the shares at the close of business tonight you will be eligible for the 55p but today's sell-off suggests otherwise!
Ignore that! Thats why he is an expert I am not!
From what I have learnt, if you would have purchased at 180p when he said, you would have had the following
First Return of Capital (March) - 158p
Second Return of Capital - 55p
Plus Current Share Price - 19p
So a total of 232p for the 180p investment!
if no profit to be had..?
It happened in March when they sold property. (BIg drop but c150 given as payment via B Share) It then looks like they have one last property to sell. The proceeds of that will then be given to shareholders.
So all in, it looks like its just a winding down of the business and proceeds of sales distributed via B shares.
What I dont get is why would anyone want to buy even the MM is no profit?
I think I may get it!!
It looks like if you hold a Ord Share on a certain date, you are entitled to a B share.
The B Share is then what gets the 55p payout (not the ord share). I assume the date has passed hence the drop today as people are offloading the Ord Share (but will still get the payout)
So in summary although there has been a big drop today, that is not really lost as made up via a payout on the B share.
I could be wrong but its something like that!!!
So, having first suggested buying Circle’s shares, at 204p (‘A deep value property play’, 21 Feb 2020), I strongly believe that they continue to offer decent upside at the current price. This is a company that has delivered a 101 per cent NAV total return since IPO five years ago, and has delivered a three-year NAV total return of almost 30 per cent, double that of its peer group. It simply shouldn’t be trading on a 21 percentage point deeper share price discount to NAV than peers. Buy.
https://www.investorschronicle.co.uk/ideas/2021/03/23/exploit-an-undervalued-property-play/
That cant be the case deckchair. If they was paying 55p per share when delisting that would be the price today (or near as damn it)
Its all a bit confusing around A and B shares!
too be honest not sure what is going on with the A & B share,
Reading through..it looks like it will be delisted and 55pence per share will be paid..The Company intends that the B Shares will be redeemed on 18 April 2023, for 55 pence per B Share amounting to a second Return of Capital to Shareholders of approximately £16.07 million. For those Shareholders as at the Record Date, CREST accounts are expected to be credited with the redemption proceeds on 24 April 2023 and cheques in relation to Shareholders who hold Ordinary Shares in certificated form will be posted on or before 1 May 2023.
Not 100% sure but reading this RNS from the recent EGM. This had a 99% vote in favour does it mean they are delisting the current shares?
Conditional upon Resolution 1 above, to approve the proposed cancellation of the Company's Ordinary Shares from trading on AIM ("Cancellation")
So now that you know, what's the story here?
Ignore me: Read a few more RNS's....
I cant see the reason for the big drop? From the RNS yesterday it seems they are selling some assets and returning it as capital. But only £7m MC and the return of funds is more than that....but it's classed as B shares? Does that mean that if you buy normal shares your not eligible for the capital return?
https://www.investorschronicle.co.uk/ideas/2021/03/23/exploit-an-undervalued-property-play/
Hello,
This company looks interesting. Does anyone have any research? Please not Edison rubbish though.
Thanks muchly
someone bought and sold in 40 mins for a loss... guess it didnt go boom for them...