Member Info for Damienmoore

And down she keeps going. Next stop is 6 euros per share.

Well there we have it. Enough shareholders are making enough noise for the company to be split and for shareholders to have the option to convert 30% of their holding to realisation shares. I can't imagine anyone opting not to take their allocation of realisation shares given the current discount to NAV. One could decide to use realisation proceeds to reinvest back in to the ordinary shares at discount! But it seems this proposal doesn't go far enough given the shareholder dissent at the AGM votes today. The possibility of a full winding-up still exists.

Gerry557, why not? They know the net rental income for the Picton Properties we will be taking on, so why would they not know the EPRA earnings, at least approximately, after the merger?

Tichtich, an increase of 3.3% EPRA earnings is nothing in comparison to all the talk about spectacular rental reversion, particularly when the dividend has not increased. Shepherd-Cross said himself that commercial property returns rely primarily on income returns - so where is my income?? This pile of garbage was paying a higher level of dividend per share 10 years ago, and thus my income is down significantly in real terms. VIP is actually an excellent outfit and the board there also understand they have a duty to protect their shareholders' dividend income from inflation. After 10 years I have had enough of the BS with CREI.

The deal seems reasonably well structured, but they haven't stated what the EPRA earnings per share will be after the consolidation. Picton's assets have a significantly lower rental yield, and I simply wish to know if the current level of dividend will be covered.

Just sold CREI at 89p and used the proceeds to buy here at the same yield. At least this is a REIT that understands the idea that dividends must at least keep pace with inflation.

Another year of talk about growth, another year of 6p dividend. Mr Richard Shepherd-Cross has been spending too much time at the car dealership assets, learning cheap salesman's talk. I'm out at 89p and making the switch to Londonmetric on the same yield. At least Londonmetric understand a rudimentary goal to increase dividends to equity holders, at least in line with inflation.

I don't think private investors fully understand the risks here. Glenstone are a believer in a cheap TISE listing , which gives them all the REIT tax benefits without the governance restrictions of a main market listing. As a large principal shareholder they want to extract as much value from their shareholding as possible, and if it means trampling on other investors, they will not care. If they find a way to list AIRE on the TISE market (through an all share offer, or by relentless lobbying of the board), it will be hell. The share price will tank and your shares will be held captive on the TISE market; illiquid and with diminished regulation. It seems to me the BOD are making efforts to protect other shareholders outwith Glenstone, which I do respect, but I have no doubts that this is a dangerous one to hold.

Up and up she goes!

I was referring to "Mr Market", Gerry, not anyone on this board. The market's negative reaction to the deal is irrational. The losers will be PCTN shareholders.

He's irrational, Gerry.

SP now beginning to rise as the market is actually begining to engage it's brain an wake up to the fact this is a really good deal. This is an opportunity to gain prime assets at a discount to take in to a long term recovery cycle. Some non-core PCTN assets may even be sold at par or above book value, which will be further accretive to SREI shareholders. The neurosis surrounding this deal is quite extraordinary. Schroders aren't going to screw over their own shareholders - they have bargained well. They hold their reputation high.

This is a good deal for SREI, and if the market can't see it then fill your boots. The Picton Portfolio is high quality and we will benefit from quality assets, excellent debt terms, and attractive reversionary yield. The ongoing charges ratio should also reduce with the potfolio weightings remaining unchanged. I don't know what all the fuss is about - it's a good deal.

Well, the dividends haven't recovered but the capital gain is most welcome. Would be nice to have both, but life doesn't work like that!

I have held this since the beginning of time and seen no capital gains; only income. This is fine, because it's income I want more than anything else, but I was beginning to think capital gains would never happen in my lifetime. However, up over 45% in the last 24 months (excluding income), so good to see some progress at long last.

Have held this for a very long time and had to settle for income with no capital gains. However, the recent two years of capital gains have been most welcome. Long overdue I would say.

A year on and this is more a capital gain story than an income story. Income has trended down, capital gains up. I will continue to hold, though I would prefer a recovery in the dividends.

Have held here for a long time and it had several years of virtually no capital appreciation. This was acceptable because I bought it as a global income play. However, it's been in take off mode for the past 24 months, up over 80%. Every day it adds more gains, and I would have to say I rather like it !

LTI, what is it you do not understand about a loss? If you buy shares at £1.50 and they drop in value to 50p, you have lost money. Yes, you may have made money previously on the same share and other shares, but you have been using your own money to buy this share all the way down from £1.50. If you had not made these purchases, the money you spent would be worth more than it is now. The money you spent at £1.50 per share would be worth 3x what it is worth now, and this is due to your own decision making. I really can't believe I am having to explain this - and you call me clueless.

LTI,

"not only that you have made a sizable percentage loss".

Wa ha ha ha. And you would know having been buying it all the way down from £1.50. You know what a loss is more than anyone. I've cut my loses, while you've been enhancing yours.