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Thanks Mline that's reassuring, decided to put the money in ANG. might come back once the price settles. Still think this has plenty of mileage in it
no - looks to me like if anything, you're tiny up.
so I haven't lost a shed load getting out on friday?????
it's actually just the consolidation...the fully paid rights shares started trading on the market on 27/july. today's move is just the consolidation - 1 for 10.
...is a little research. this is a rights issue (1 new for every 4 held) plus a share consolidation (1 for 10).
I have just been to try and sell my shares, they will sell at 24.50p...!
a genuine rise??
got out friday dammmmmmm
I knew that WKP would come good....!!!! HA Ha Ha
I'm back in with close on 100,000 shares purchased just before the RI was announced, hoping for a decent uplift in shareholder value over the next 12-24mths baring disasters.......
a lot of pi buys going through this morning. so a lot of people do seem to agree that this sp and company are very good value - even though it's deserted on this board!!
with the extra shares already factored into this sp, we should be heading back onwards & upwards when they enter the market.
deadline today for RI (if you are with TDW anyway) - dont miss out on free profit chaps! WKP is still my big economy recovery play - this is gonna be felt in London before anywhere else so it's the obvious place to invest.
How anyone can reiterate a buy signal after the latest announcement is beyond me. Look at the facts interms of the discount to current share price and increase in share capital. They should be doing the opposite to increase share holder value. IMO
Matrix upgrades Workspace Group from hold to buy, target price raised from 25p to 32p.
Sure about this to be honest. Smacks of taking advantage of a high in the Sp, which has lost 2 pence since announced. 25% increase in share cap which is already well over a billion ! Hmm.... I'd like to see where this 63m is going to be spent before I add another 200k to my portfolio ! You are nit going to get much London property for that amount . Need to have a good look at the prospectus .
Harry Platt, CEO of Workspace said: "The Group continues to perform strongly and we see exciting opportunities to invest incrementally in our estate. The Rights Issue will enable us to take advantage of attractive re-positioning and acquisition opportunities that should deliver income and capital growth enhancing returns to our shareholders."
1 for 4 Rights Issue of 288,182,835 New Ordinary Shares at 23 pence each to raise net proceeds of approximately £63 million Workspace today announces the details of a fully underwritten Rights Issue to raise approximately £63 million (net of expenses). The Rights Issue is being made on the basis of 1 New Ordinary Share for every 4 Existing Ordinary Shares at a price of 23 pence per New Ordinary Share, representing a discount of 19.9 per cent. to the closing mid market price of 29.25 pence on 6 July 2011 (after adjusting for the proposed final dividend of 0.55 pence per Existing Ordinary Share which will not be payable to holders of the New Ordinary Shares). Highlights: · 1 for 4 Rights Issue to raise approximately £63 million (net of expenses), fully underwritten. · Provides Workspace with additional financial resources to accelerate the investment programme across its existing portfolio and take advantage of attractively priced property acquisition opportunities. Rothschild is acting as sole Sponsor and Financial Adviser to the Company with respect to the Rights Issue. Espirito Santo Investment Bank ("BESI") and Investec are acting as Joint Bookrunners, Brokers and Underwriters. The Rights Issue is fully underwritten by BESI and Investec. The Rights Issue is being made to Qualifying Shareholders on the register as at 5 July 2011.
http://www.investegate.co.uk/Article.aspx?id=201107070700109422J
Commenting on the performance, Harry Platt, Chief Executive said: "The business is performing well, with good demand for space from our SME customer base across London. We are now poised for the next exciting phase of growth as we accelerate our investment in the redevelopment potential of our London property portfolio."
Workspace Group PLC ("Workspace Group"), one of London's leading providers of space to small and medium-sized enterprises (SMEs), is today announcing an Interim Management Statement covering the period from 1 April 2011 to the date of this announcement. This statement should be read in conjunction with today's announcement of the Rights Issue. Highlights for the first quarter ended 30 June 2011: · Total occupancy up 0.4% in the quarter to 84.0% · Total cash rent roll up 1.4% (£0.7m) in the quarter to £49.6m · Like-for-like occupancy stable at 86.4% · Like-for-like cash rent roll up 1.2% (£0.5m) in the quarter to £43.5m · Underlying property valuation at 15 June 2011 up 1.3% (£9m) to £727m · Fully underwritten Rights Issue to raise net proceeds of approximately £63m to accelerate investment in our portfolio announced today
http://www.investegate.co.uk/Article.aspx?id=201107070700109421J
Workspace, the provider of office space for small and medium-sized businesses, toasted a more than doubling in annual pre-tax profits yesterday and unveiled a major change its top management team. Largely for valuation reasons, we think that caution may be justified on Workspace, despite its buoyant performance and a 10% rise in its final dividend to 0.825p. The Independent gives Workspace a hold rating.
Don't it make your brown eyes blue! Profits doubled, Divi up, Yield up. No short term debt. And the market marks WKP down! No wonder the boss want to quit!
Stay calm Baz! Results are due Monday 6th and there's been steady buying, in decent size parcels, for a couple of days now. That suggests to me that investors are scenting some decent numbers. I don't think you'll wait long for a lift into the 30s on this one.