Jamie01200215 Mar 2013 11:19
Results out today. NAV is 34p by one measure and 17.5p by another measure. However dividend payments have been suspended until October to solve the problem of the currency hedging (£/Euro). The risk is that if the exchange rate worsens then the company might be short of circ £ 20 million in October so could be forced to sell property at distressed levels. However it could work the other way round and the company might make a profit from the hedge. Taking all this into account - I just feel the share price is oversold until more news - the results are long and detailed and I advise a brief read first but a small investment here may be well worth it for a short term punt gl