Mother comp is Redefine Properties listed on JSE as RDF -massive comp: "Property Loan Stock company, with a diverse range of property assets under management valued, as at 31 August 2012, at over R39 billion." http://www.redefine.co.za/ Been breaking for past 5 weeks and still going strong http://screencast.com/t/VygP8afysh Then you get its subsidiary Redefine International listed on JSE as RIN with its sole holding in LSE listed RDI: "Redefine Properties International Limited ("RIN") is a Redefine subsidiary formed to house the Group's offshore real estate portfolio. RIN was listed on the JSE in September 2010 and holds as its sole asset, a majority stake in London listed Redefine International PLC." http://www.redefine.co.za/international.php Over the past year they've struggled a bit to get their debt structure sorted, but now they're poised for growth. Well worth a read: http://dashboard.fin24.com//Company/Redefine-Properties-International-Ltd So I've been watching RIN since end of March and bought in on JSE last week based on the above fundamentals, but mainly on the Ascending Triangle- price was right at the start of the breakout wave, wave E. And what do you know- it's breaking now.. ) http://screencast.com/t/vRKdAJhVc > http://screencast.com/t/jNuiMRx7 Exact same thing happening on LSE with RDI http://screencast.com/t/IO4xMOm5yGQ So yes, based on the performance of the mother comp together with RDI's positioning now- I think the sp has got some legs in it.
28 Feb '13
Today's RNS £65m = 6.75pps
At the annual general meeting of the Company held on 23 January 2013 a resolution was passed approving the reduction of the share premium account of the Company amounting to £65million, subject to the confirmation of the Isle of Man ("IOM") High Court (the "Order"). Redefine International is pleased to announce that the IOM High Court has now granted the Order approving the reduction and the Order has been registered with the IOM Companies Registry. The reduction has therefore become effective and an amount of £65 million has been transferred from the Company's share premium account to its distributable reserve and will provide further flexibility for the Company's financial structure.
6 Nov '12
Closer to target
5 Nov '12
For the bid at 41.92.....(this year maybe?)
30 Oct '12
This took total declared dividends for the year of 4.4p per share, up 6.5% on 2011. Chairman Greg Clarke said the outlook for much of the UK and Eurozone economies remained subdued. "But, with a renewed focus on investment, the company is now well placed for future growth at a time when there are attractive opportunities to make accretive acquisitions," he said. Redefine efforts are ongoing to reduce its overall loan to value ratio (net of cash) to no more than 60%. The firm said priorities for 2013 were to reduce the group's overall exposure to UK regional offices through the sale of assets. it also plans to improve the quality of its portfolio by keeping its exposure to assets with long-term secure leases and/or higher value alternative uses.
30 Oct '12
Propert investment firm Redefine posted a full year loss but upped its dividend. Basic loss per share was 21.7p for the year to the end of August, down from a 1.18p profit the year before. The loss attributable to equity holders was £124.76m, with the company putting the blame on a net decrease in the fair value of its investment property and assets held for sale of £126.9m. Much of that loss in fair value - £94.6m - related to the historic "Wichford" UK portfolio, including assets in the Gamma and Delta portfolios, the firm said. The firm said gross rental income was £76.2m, up 184.3% on the comparable period. Earnings available for distribution were £25.5m, up 25.6% on the prior year. The firm announced a second interim dividend of 2.30p per share, an increase of 9.5% on the year before.
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