Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
To provide shareholders with stable, long term, inflation-linked income from a portfolio of Social Housing assets in the UK with a particular focus on Supported Housing assets.
Find out MoreLondon South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Yes, its a speciality of the media, look for the negative in everything and generally run Great Britain PLc down.Shame,it becomes a self fulfilling prophecy but then again thats what some people seem to want....odd.
Panorama programs are always scary - it's kind of their mantra, and frankly, is about as close as the BBC gets to gutter journalism dressed up as investigative. Unfortunately, the only property they will be able to sell at a decent price will be ones that are fully let and where rents are 100% up to date - ie NOT Myspace.
Good thing they are moving property away from My Space as stated in the 2022 results presentation(can be viewed on triple point website).
If they're very cute they will look to sell some of the My Space property to reduce that risk. The Panorama programme on My Space was scary if you haven't seen it.
Some hefty buys today on the back of the buyback news.
It is good news, and it doesn't take much to move a stock price which is this depressed, but:
1. The Share buyback is limited to 2.5% of market Cap, so doesn't massively move the dial, and more importantly..
2...from what I can see, the Company has given no indication of the size of the property sale, if a price has been agreed, and how close they are to finalising the deal. I think they should have waited until all details were available, if for no other reason, they might be buying back shares at a lower prices.
From memory, the total size of buyback allowed from 2022 AGM was close to 10% of market cap (c £20m), so perhaps the sale will be 15m (c4% of the portfolio) which they can then use to buy back shares and take the entire buyback to 10% of mkt cap. This will be clearly accretive providing the sale price is in line with how the valuers are valuing the properties in the NAV calc. Hopefully this extra detail will be forthcoming shortly.
Good news this morning re share buybacks and sale of a portfolio of properties.Will help to cover dividend so not expecting a divi. cut now.Enjoy the positive news if you can!
Typo November 2021
I've looked at the Regulator website which has 176 news items going back to 2017. My Space is the only SOHO reaffirm to have had an enforcement. Parasol has been under review since 4 November 2011 but has not been downgraded by the Regulator. Hopefully the new Parasol board and senior management team turn it around and pay the rent arrears.
I googled My Space and I've found out that Panorama covered them in a programme last August. It looks a former director of them, Paul O`Rourke, has been using My Space (charity status) as a bank to buy properties for another of his firms called Enabling Homes. At the time of the programme it was stated that he owed My Space £2.5 million. My Space came across in the programme as just concerned with getting anyone in to pay rent. There were 47 tenant deaths in t their properties in two years. This is what SOHO is dealing with.
PS, If not before!
Not just excellent dividends here but a once in a long time chance to make a large capital gain as well . You could double your money here on a 3 year view.You cant often say that about a REIT! imho.
2023 results will hopefully be better as no one off payment of £2.6m to cancel the credit facility and hopefully no large rent arrears with My Space booted out - also how much of the £2.037m 2022 rent arrears hit can they claw back in 2023.
After doing my research I've also bought some for the long haul.
This included watching the 2022 final results presentation, where Max Shenkman said they were moving properties away from My Space and trying to get the rent arrears. He said that Parasol has a new board who were better to work with - fingers crossed. He also mentioned possibility of share buybacks or selling some property to narrow the gap between the share price and NAV. Hopefully something announced with the May dividend update or raised at the AGM on 23 May.GLA
Took a punt on this today think this is well under valued time will tell as with all investments am looking at a 3-5 year hold plus this pays an excellent dividend at the moment
Candid,look below your last post on that board!
Yes Im in that as well!
Hey wishi , you also said the same thing on regional REIT chat forum .. let's hope you are right on both of them as I am also invested in them both
By the way , have you checked out CSH ..also an REIT with 50% discounted share price against NAV , might also be worth a punt.. good luck all
I am cautiously optimistic that the worst may be behind us now re. the share price.Over the next six to twelve months I expect a slow,although probably erratic, return to more sensible levels ie 70-80p range.imho.
Technically it is a part of the management fee, so incentivising staff by providing them with shares does provide some benefit (potentially). The buyback benefits us as that would have gone to the directors otherwise. There are two sides to look at this.
With the SP performance, they certainly do not deserve a 387k bonus (895,426 Ordinary Shares * average price of 43.24 pence per Ordinary Share); Very shocking actions today, which only lines the director's pockets at the expense of shareholders.
I agree, but it's moved the share price up!
So using shareholder funds to acquire shares for the benefit of directors without them actually risking their own capital. Disgraceful.
I'm not sure about being 'played' - looks like BlackRock is reducing again.
The share price its being played, buy under 50p sell at circa 54-55. Nothing fundamental has come out not already known about. I suspect a share buy back is imminent and someone is trying to accumulate from the impatient/nervous before it happens.