Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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I think PLUS hit an ATH on Friday so possibly a technical pull back.
Property funds often get 'gated' to prevent withdrawals due to the illiquid nature of buying and selling property. I wouldn't see how that would affect PLUS as that would be in an equity fund. Maybe we will have a major holdings RNS in the next few days.
Hmm - I reckon it may be due to this news from Black Rock last Friday (see extract below).
Take that news with RNS notification that BR had reduced its holding in PLUS to below the 5% notification level......
So, maybe some more selling in the short term. But regardless, PLUS still a great long term hold
EXTRACT FROM NEWS ARTICLE:
"BlackRock has also imposed restrictions on second-quarter redemption requests from its £3.5bn UK Property fund.
Unlike during the UK property fund crunch that followed Brexit and the onset of the Covid pandemic, which caused fund houses to suspend trading in many retail property funds, the asset managers have not gated these particular property funds — which are for institutional investors only — and they remain open for trading.
The increase in redemption requests comes as pension funds look to reduce their exposure to less-liquid assets, with rising interest rates leading to a reduced appetite for high-risk investments such as real estate.
Others have been looking to adjust weightings within multi-asset portfolios, where the allocation to property has exceeded the limits set by the fund’s mandate due to falls in equity and bond markets."
GLA
can't see any news, maybe a large institutional seller taking profits after a good run.
Anyone know why such a drop today?
Whoaaa there tiger!!!! You'll have to buy me out first. I'll take £25 now if that helps ??
Next trading update due Jan to cover FY 22-unless we are trading ahead of revised increased expectations in which case an additional update could be issued.
With the current rate of share buy backs & assuming a stable SP I calculate that I will own 100% of the company in around 33 years.
Approaching 52 week high 19.06 which was almost ATH as well
Typical that the day before divi payment the pound shoots up nearly 3% thus reducing our already taxed dividend.
10% is the maximum but the budget is $60.4mill so to buy 10% our SP would have to fall to an average of about 600p.If our SP remains around 1850 we would buy back around 3mill shares but at our current buying rate (about 160k p week) this facility would be fully utilised by early next year,when assuming all remains well & our cash pile continues growing(helped by higher interest rates) the facility is likely to be extended once the current facility is utilised.
If we can demonstrate material growth in the US & consistency in our other territories,our SP should continue its steady ascent.
It is a no brainer to continue to hold these, 95Million shares in issue and a plan to buy and cancel 10% of these over the next year.
Great to see an expansion of the buy backs & if this continues for the next 15-20 years at this rate I may well own the company !
As our brand & business grows in the US I would expect investors there to become more interested in our stock - especially with view to the sector we operate in .With almost $1bill in the bank we certainly dont need money but a full Nasdaq quote has to be a possibility,allbeit when conditions improve .
That $950m in cash is worth alot more to us (in the UK) than it was 3 months ago.......
Yet another ahead of expectations even though reporting in a very strong dollar.
Q3 trading update imminently & CMC s statement today is a positive for us & our SP has been recovering well over recent days which,on confirmation of a strong Q3 & increasing US traction,should help our SP recover further towards previous highs.As we grow in the US we will no doubt be considering a US listing,although we dont need cash as we must now be in excess of $1 bill
Consensus estimate for next year is 220p approx or 254 cents.
There is a huge amount of cash on the balance sheet which should be valued at par not at 8 times the net interest earnings. Even ignoring this the overall pe is below 8 and analyst estimates have almost always been too low for this company.
With the recent Chicago Bulls sponsorship I am guessing the word surrounding this cheap stock is starting to filter. Once we get US traction the share price will motor in my opinion.
This company is really becoming a global entity.
Cmc update this morning shows they have prospered in the last few months.
I agree plus should be raking it in these market conditions but the shares are under pressure. We could do with another one of those 'ahead of market expectations RNS' trading statements that we have seen in the past.
Markets still very volatile and that should be positive and huge cash balance in dollars and earnings reported in dollars so pe on published estimates now really low.
A positive statement from capital markets day. In addition as earnings in dollars and share price sterling the pe has dropped even further if estimates are accurate and they are usually way too low.
Liberum raises Plus500 price target to 2,950 (2,540) pence - 'buy'
>null
How do share buy backs increase eps artificially?
EPS = earnings per share, so reduce the number of shares (the denominator) and for the same earnings level, the EPS increases. It is just maths.
The number of shares bought by the company yesterday increased significantly. Are we going to see this increased level from now on? It was announced yesterday another $60 million was added to the share buyback fund. This will add further upward pressure on the share price, ceteris paribus.