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This seems to be going well, i think there is some very good news to come.
NOTIFICATION OF INTEREST DISCLOSURE PURSUANT TO SECTION DTR5 OF THE FSA DISCLOSURE & TRANSPARENCY RULES On 23 November 2012, the Company received notification that Henderson Global Investors has an interest in 31,931,140 Ordinary 1p shares in Capital & Regional plc. This represents 9.10% of the total voting rights of the Company. END
Hugh Scott-Barrett is really pushing forward, i think he has done a good job since he took over.
Seemed to be rather undervalued and ready to come out the other side of a revaluation and adjusted ERV's. One to buy certainly a hold.
Capital & Regional plc announces that it has received a proposal to acquire its units in the X-Leisure Fund and its 50% stake in X-Leisure Limited. Discussions are at an advanced stage. Should an offer for the X-Leisure Fund units be forthcoming, the transaction would be subject to the approval of unit holders. In addition, due to the size of the potential disposal, the Company would be required to seek shareholder approval. Further information will be provided in due course.
Hello, You must be aprofessional investor with 35185 posts. So would you inverst in Cal and why. Thank you. radar
Hugh Scott-Barrett, Chief Executive, commented: "The sale of The Junction is an important step in accelerating Capital & Regional's focus on our core UK shopping centre business. Following on from eight earlier property sales which were sold for £478 million, 2.3% ahead of prevailing valuation, we have generated an annualised return of 21% since the restructuring in 2009. Our core business has continued to perform well. The slight uplift in valued income reflects continued progress in the re-letting of space vacated by retailer administrations in the first half of the year. The pipeline of demand for space continues to provide a cushion against further retailer failures. I expect that there will be opportunities to release more capital from non-core activities in the next three to six months."
Interim Management Statement For the period from 30 June 2012 to 8 November 2012 Capital & Regional plc, the specialist retail property company today announces its interim management statement for the period from 30 June 2012 to 8 November 2012. Highlights The key events during the period were: · Acceleration of strategic focus on UK Shopping Centres through the sale of The Junction realising £14.1million. · Occupancy improving over the quarter with valuations and passing rent broadly stable · Group debt position strengthened by the signing of a new £25m central facility to 2016 and extension of the Great Northern facility by one year to October 2014 · Net debt to value in The Mall now 55% following £80.1 million debt repayment from sale of Norwich · Debenhams extending and refitting their store in Blackburn · Mall footfall has outperformed the national index by 3.8% year to date demonstrating the well positioned nature of the portfolio.
Going down, dont know why? I have been very disapointed in this share.
Yer hard to understand, is it CAL partner that has default, hope there is no loss on our part.
Not a very positive development this morning (quick reading appears to suggest a default on a German loan facility?)
Really positve work going forward, selling Castle Mall Shopping Centre in Norwich.
While two different animals similar in that the directors are buying into both
Sentiment clearly against property plays like CAL because the price is now at a big discount to NAV. On any valuation measure, CAL looks undervalued to me, e.g. a P/E of 6-7x looks pretty unchallenging (based on recurring income alone). After taking the pain of selling assets to reduce their gearing over the last few years, the fact they bought the Kingfisher centre recently seems to have been overlooked by the market. This is a signal that they (and their banks) are positive/confident about the balance sheet position now and trading outlook. Quite frustrated that the company isn't doing more to get the message out via their brokers and RNS updates etc.
Directors buying, price collapsing. Unreal !
Nothing wrong with the company, just the image of the shops at the moment. Really disapointed with were we are today. I think we are in for a ruff time with all shares.
What has gone wrong ?
What's happening, son ?
CAL is not loved, the company seems to be going forward making new investments. The share are trading at half NAV dont know what the furure holds now.
Is this just moving down with the market or am I missing some think?
I am delighted to report an increase in net asset value of 12% to 56 pence per share and an increase of 10% in recurring pre-tax profits to £16.4 million. These results are all the more encouraging as they reflect the impact of asset management initiatives which have boosted income not only in the UK funds but also in the joint ventures."
there was a shake out there so it should go up from here
The market think one thing and the directors another. Is that correct ?
I think the problem is with all the doom on the high street Peacocks going into admin ect, the market is worried and the CAL rents being paid.