Member Info for Gerry557

All things being equal the share price will also open down by the same 15.67p as the dividend.

Then Mr market takes over and moves the SP up or down.

Is that about £470k in divi savings.

Click on the RNS tab for info

"While the effects of our disposal programme, refinancing activity and preparation of certain larger assets for redevelopment are likely to impact earnings in 2026, we believe these necessary actions will bear fruit in the medium-term"

I think this covers my thoughts. It depends on how bad the medicine tastes this time next year

Why not just do it. What are the tax implications of each option. Do you have sufficient headroom in isa allowance

"Turnarounds can indeed take a long time but we have had 4 relentless years of decline."

Yes I have suffered them all. It is expected that the rebase will be done for 2027. So is this another year of decline. It could be if income and debt dont improve, so what is happening.

Letting activity is picking up with 70 new leases the highest in 7 years. Some of the upgraded properties are now available with some progress already made. phase 2 of The Yellow expected in Q1 although Gotic Haus waits till Q4. The two German tenant insolvencies will be a hit and or opportunity. Will they be re-let on a higher rent or put in the upgrade category. One expects a 25% uplift on rent by moving into Life Science. We also have 2.5% uplifts on a high percentage of leases. The outlook was improving but that was before current world events.

On the debt side £90m debt repaid and on like for like would have been 46.5% LTV. More sales are planned and they did 2025 £140m sales at 2.3% below presale valuations. So not dire. Obviously income will fall due to sales so how much can be offset with the improvements above. Added to this is the planned release of lets to add into the upgrade program.

Valuations are seen to be stabilising and it was highlighted that the value of Gotic Haus increased by 50% on signing the lease but Maximilian Forum fell 15% on the insolvency news.

So Im not expecting next years results to be "wonderful" but expect to confirm the inflection point has been reached. You always pay more for a rosy outlook. The SP took a hit after results so how much is now priced in and how much was due to current news events. Bond yields are up, higher than Lizz Truss days and growth just isnt. So it depends on some outside forces and how long they go on.

Four properties were sold in 2025 for an aggregate consideration of £144.2 million. This consideration was in-line with the pre-sale book values but, after costs, resulted in a loss on sale of investment properties before tax of £10.9 million

In 2025, excluding contractual indexation uplifts, 20 lease extensions and new leases secured £1.4 million in rent, averaging 7.1% below ERV

In 2025, we disposed of Jarrestrasse, Hamburg, and Grafelfing Munich, for a total of £35.6 million at a combined discount to pre-sale values of 8.9%.

A few bits from the report regarding values and disposals

I suppose they cant do too much about property valuations. I know they had a larger than normal lump of debt due this year which has been reduced and or rolled on and future years is now more equal. There has been higher cap ex which should reduce going forward. Some of that was doing up properties that are now up for re-letting, then add some planned sales. This should improve some of the voids going forward.

Have we reached rock bottom or is there more to go.

I have topped up 51.76. Its not been the best investment but hopefully it can turn itself around from here. I might be a tad early, I normally am.

Paddy

I dont really have a view on day traders. Are there enough of them to make a difference and "hold back" the share. I suspect the news might be more effective at that.

The buyback is about 8% of market cap so its not insignificant. Part of the reason I added more. I must have jinxed it cos its going up not down. I might have another nibble if it carried on falling. Anyway there will be more news/noise next week

I don't know when the buyback by barclays actually starts post the announcement but usually there is an RNS issued the next morning informing of the results of the buyback. "Within a week" was quoted at the results presentation.

The share price has been bouncing today, an indication maybe that its kicked in today.

I don't know where that other info posted came from ref the buyback but I wouldn't accept it.

I have finally joined the top up bandwagon. Unfortunately after power cuts it was delayed. So bit the bullet at 241.5. Just waiting for Sods Law to kick in now and knock them lower.

With recent toppy markets I've not been buying much recently so this makes a bit of a change. Obviously bought for the divi.

From the results, the buyback due to start within a week and the future Solvency Ratio target to fall to 160.

I tried to be clever by hoping the price would dip on the US opening and ended up with nowt. Will try again tomorrow but expecting a bit of a rise after today's drop.

Unless the news changes things overnight.

Hi fordm

I have also seen it being a Tomahawk being debunked too. Although both sides have other ordinance so will keep an open mind on what caused it. Do you really believe that the Americans targeted children. What did you have to say after the Soroka hospital incident.

You seem to have anger issues and wishing or celebrating a person's demise isn't a good look. Hopefully there are other things you can spend your time with other than conspiracy sites to balance yourself out. Im off to the BBC verify site to check out what they are getting wrong today.

Still this doesn't add much to the shareholders who come here to discuss what the company is doing and if it still merits my time or money. Hopefully you have something better to contribute on that matter.

Tricky

You seem pleased with yourself over the viral news over the false reports of Netanyahu brother. Im sure Netanyahu does understand pain and suffering much more than you. I know you might be called a keyboard warrior but It's easy to hide behind a keyboard.

Yes its sad that innocent people get killed but I don't think there was any intention by the US to kill children or maybe you do. There are also reports that it might be from their own missile. It's easy to jump to conclusions especially when things fit your bias thinking.

Hopefully the regime can stop killing its people and become a friend to the rest of the world and the Americans can go back home. Then kids can get on with being kids.

Hi Tim

Ref "I would buy back the Car Division rather then spend on buying back own shares."

How much would this cost and how much profit would it bring in.

Narr it will just get windfall taxed more

My ULVR swap tracker has swung in favour of the swap its only a tiny advantage but is just another "spot price" on the journey.

After world events, the markets have been knocked. The ice cream profits have melted the most whilst one of the ITs has kept its profits. ULVR profit has also dropped but the remaining cash has remained steady. I might get to deploy some of that cash if things keep dropping.

Still it might look "wrong" again tomorrow

Looking again at dividend yields going forward. Final is 72.8 so assuming a 2/3rd to 1/3rd split total dividend would be 109.2 so around 3.55%

I'm assuming no specials and more buybacks instead. There might be a bit of a bump in that for the next financial year assuming trading continues to improve.

Can anyone see any faults in my estimations

BobMathews

You could google Sovereign Base Areas and get facts instead of conspiracy.