That's the first time NAV has risen over a quarter in a very long time. If the value of the portfolio rises by 5% over 2014 year (highly likely) the NAV will rise to around 270 and the LTV will fall fast. I just hope they pay down the Alpha loan and mezzanine loan as fast as possible with any excess cash before restarting a dividend in 2015/16. I think the SP could rise to 150+ on the back of the May interim statement as this quarter should have been a very good one. A dividend of over 50p should be possible once the expensive debt has been paid back or refinanced.
Posted today.... This could be an interesting day...
28 Feb '14
2013 Results out a week today. It'll be interesting to see if the valuations turned positive in Q4 as well as what affect the refinancing has had on NAV.
30 Jan '14
valuation and vacancies
If the portfolio valuation and vacancies both moved in the right directions in qtr 4 the next report could drive another big jump in this SP. I just hope Alpha work to pay down the expensive unsecured debt as fast as they can so news on debt repayments will be v.interesting too.
30 Jan '14
Mr M sure takes his time. Good luck all @ project alpha
21 Jan '14
Upwards towards about 20% under NAV anticipated. Good luck all @ project alpha
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