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Well at least we're actively implementing the strategy at a reasonable yield. may go to the next AGM to get a better grip on this.
Good luck All And May
Well now we know why stock was difficult to come by. Perhaps we will see a gradual rise from now on as we progress the new strategy. About time things livened up.
Just tried to top up with a few but going to N/T for any size. So did a dummy sell and again N/T. So, no market in these at the moment. Any views?
In the post-Brexit vote era defensive stocks like SIPP, with its secure income and strong asset backing, should be relatively more attractive. But not only does SIPP have excellent downside protection, but it also has very good upside too. The company has the potential to grow into a much larger operator, with a higher profile and rating to match. This process could potentially be accelerated by buying entire companies.
A summary of SIPP's first six property acquisitions: 02/03/2016 "The consideration for the two properties was GBP507,000 with SIPP funding GBP188,000 and the balance coming from funds drawn under the Framework Facility Agreement." 13/04/2016 "The consideration for acquisition was GBP349,000 with SIPP funding GBP207,000 and the balance coming from funds drawn under its facility agreement." 27/05/2016 "The consideration for acquisition was GBP245,000 with SIPP funding GBP92,000 and the balance coming from funds drawn under its loan facility agreement with Heritage Square Limited." 10/06/2016 "The consideration for acquisition was GBP424,500 with SIPP funding GBP158,500 and the balance coming from funds drawn under its loan facility agreement with Heritage Square Limited." 15/06/2016 "The consideration for acquisition was GBP570,000 with SIPP funding GBP216,000 and the balance coming from funds drawn under its loan facility agreement with Heritage Square Limited." The total paid for the six properties was £2,095,500, with SIPP funding £861,000 (41.088%). The net proceeds of SIPP's placing and open offer earlier this year (i.e. after costs) were approximately £2.04M. Before the fundraising the company held approximately £300,000 in cash. So that added up to about £2.34M., i.e. about 17.7p per share. So SIPP should be able to buy about £5M. or so worth of properties (including the six bought to date) using its existing cash and facility agreement at the current ratio. From SIPP's 02/03/2016 RNS: "The initial average gross rental yield from the most advanced acquisition opportunities currently identified and in discussion is expected to exceed 8% per annum." On this basis, £5M. of properties should yield in excess of £400,000 per annum.
SIPP has been drifting down recently on very low volume, despite positive newsflow. It's obviously overlooked, but that could soon change. At 16.5p it is at the bottom of its long-term trading range, at the price of the warrants from its recent fundraising at 20p, and below the level of the cash it had after that fundraising. 13,204,411 shares in issue x 16.5p current mid price = £2.18M. market cap.
SIPP (currently 19.5p) looks to have attractive potential in both the short, medium and longer terms: 1. SHORT/MEDIUM TERM. • Strong positive newsflow as the company executes its initial property investment programme during March - June 2016. • Follow-up company development: larger fundraising(s), and further acquisitions. • Dividend policy: "The Company is targeting a dividend yield of seven per cent. per annum, and your Board expects to pay the first dividend in Q1 2017." 2. MEDIUM/LONGER TERM. • Growth in dividends. • Capital growth: " ... these properties can offer attractive returns on equity and the prospect of medium term capital growth as the chosen specific property category grows and becomes better appreciated by mainstream property investors." • Move to increased rating as the company grows, develops a track-record in its new sub-sector, and becomes more widely-appreciated by the market.
Buy more? Sell? What are people's opinions?
Change of Name Tue, 9th Feb 2016 12:45 RNS Number : 5425O Hotel Corp (The) PLC 09 February 2016 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. 9 February 2016 The Hotel Corporation plc (the "Company" or "HCP") Change of Name Further to the Company's announcement on 8 February 2016, HCP is pleased to announce that the change of name certificate has now been issued by the IOM Companies Registry. Consequently, the Consolidated Ordinary Shares of 100p each in Specialist Investment Properties plc will trade under the ticker "SIPP" from 8.00am on 10 February 2016. The timetable of expected events for the remaining Proposals is unchanged and is set out below. Capitalised terms used but not defined in this announcement bear the meanings ascribed to them in the circular dated 15 January 2016 (the "Circular"). The Circular is available on the Company's website at www.thehotelcorporation.co.im.