The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
RES presentation pre-close but all on track for guided results/growth. Never defaulted on dividends through covid. Their LTE position sounds very promising for results to FEB. French malls doing very well. RES shareholding in HMSO up to 3.94% LTE position in HMSO 22% They accumulating HMSO shares when questioned saying assets were prime and undervalued. Cost cutting/ shrinking redevelopment pipeline immediate goals.
The CAs amongst us can maybe explain the benefits of the proposed Capital Share Reduction. My limited knowledge on the subject it opens the door for share buybacks/cancellations and/or facilitates the issuing of cash dividends going forward. No idea how they could engineer that but sounds interesting.
Hmso closed period imminent? Conflict of interest to carry on accumulating. Understands the company now so of interest to APG and the other major stakeholders to unlock value. Going to be interesting to see his endgame.
maybe the Richmond Group buying shares in the open market ( 3.4% ) was the catalyst for the push to 26p and that completion coupled with the Citi 18.6% inflationary forecast / Cine and other macro woes aggravated the decline. Interesting to note the top 4 shareholders own in excess of 50% of the coy / Instit holding 80% Retail investors around 20%
Sometimes wonder if these banks and others are not dancing to the tune of the hedgies. Another point is they all refer to HMSO as a shopping centre owner and often don't look at the change in stance towards residential co-development etc