Member Info for JohnLaw

See RNS

Lot's of interest in my largest shareholding. Nice

!!!!

http://moneyam.uk-wire.com/cgi-bin/articles/201103180700101762D.html

All that effort for no profit. Good riddance. http://moneyam.uk-wire.com/cgi-bin/articles/201103140700068228C.html

Extracts from 8 Feb 11 article by Simon Thompson: "It is difficult to reconcile this poor share price performance with the financial progress being made by the company and the apparent value on offer.... with the shares trading on a bid-offer spread of 6.7p to 6.8p, they are being priced on a chunky discount of 23 per cent to NAV. ..... And, unlike other speculative property companies, Wichford's property portfolio retains its defensive qualities and its near-term UK lease expiry profile reflects a relatively small exposure to lease break options and expires over the next three years. ..... The defensive and high-yielding nature of the portfolio - the core UK portfolio (value of £246m) yields 6.9 per cent and the smaller active portfolio (book value of £134m) yields 8.3 per cent ..... Given the larger size of Redefine, and the fact that its shares trade on a 19 per cent premium to its last reported pro-forma net asset value, then any transaction between the two companies would in my opinion have to be priced so that Wichford's shareholders receive the full value of the underlying assets the company holds. ..."

Can't access the mag. What does it say?

I can sell 250K shares for 7.45 on a dummy trade. Something moving through.....?

xd 2 Feb

yesterday continues to today. Can't see what is happening on Plus thanks to their new improved system that does not recognise any companies whatsoever.

Redfine bought their major tranch (19%) in Dec 2009 when prices were 8.5 to 9.5p. Control premium must be at least 20%. We should have a minimum 40% upside here, if a takeover transpires.

http://moneyam.uk-wire.com/cgi-bin/articles/201011150700081445W.html Having secured its immediate funding position, the Board has commenced a process to review Wichford's strategic options including addressing the longer term financing position of the Company, in particular the October 2012 maturities of the Delta and Gamma facilities. The Board has appointed Rothschild to assist in this review of options, which include assessing interest expressed by Redefine International plc ("RI") in relation to a potential combination of RI and Wichford. Conversations with RI are at an early stage and there can be no certainty that any transaction between Wichford and RI will be forthcoming or that the required regulatory approvals for a transaction would be obtained (including but not limited to agreement of the UKLA in relation to listing eligibility). RI, a hybrid property investment company quoted on AIM with a market capitalisation of approximately £230 million, currently owns a 21.7% shareholding in Wichford. RI's ultimate parent company, Redefine Properties Limited, which is listed on the Johannesburg Stock Exchange in South Africa, indirectly owns a shareholding in Wichford Property Management Limited, Wichford's property manager. Further information about RI, including public announcements and financial results, is available on RI's website at www.redefineinternational.je.

on Plus is what did it. More please

You just breathed some life into the ex-parrot!

I thought the RNS cleared up a lot of doubts on profitability and financial position. i bought some more.

I can get 0.4p for 1.5 million but they want the full ask for 400K.

I was buying 2 weeks ago at 1.40 - 1.50. Asking 2.20 today. Can't see why........

got in today at half yesterday's price!

albeit modestly

But others continue. I stopped just short of a disclosable interest. I expect a dividend yield of over 10% for the foreseeable future, from 2011. For all the reasons I have said before, this is a happy share. Our new CEO is motoring (see appointments). I know Sweetman from many years ago; reputable, gravitas, solid. Unfortunately I can no longer trade in and out, as a buy will require disclosure. All acronymns apply.