Member Info for Krustysmegma

Another carppy day at the office, might have to go on the SIS board & re-read the RNS about Moon being put on gardening leave, cheer myself up a bit.

OK, think I'll just take the cash. Thank you.

I guess this page will have disappeared (like the company) by next week, so farewell fellow "Beevers", enjoyed the ride whilst it lasted. Good luck with your future investments, whether they include TPFG or not. K

Ha ha, good work Sam! The new NED has been buying a few too which never does any harm. Let's hope the positivity here continues, we could certainly do with a boost. Off topic, I'm in LGEN for the dividend but holding tight for now ahead of the inevitable re-rate once interest rates start to fall, hopefully later this year.

Looks like we're destined for the recycle bin, unless a white knight steps up & makes an offer. Over at API they've had a bid from CREI and also interest from SHED but I'm not expecting anyone to rescue TENT. I'm not convinced a firesale will deliver the true NAV here so it's not a great picture IMHO. Who knows what's round the corner though if they can hang on long enough for interest rates to turn?

Thanks David, best example I've seen yet. Just one question - if they're going to pay 5% more than the £680 in your example, how does that fit with the $42 million & not a penny more commitment?

I hope DEC are employing a team to explain all this to UK brokers because if the Halifax has got this right (see below) I don't know where the hell we are. Nothing yet from HL, be interesting to see their interpretation and that of others.

Unfortunately the SP is always going to come under pressure when you've got determined sellers like FIL and whoever is disposing of £60k lots today. Fortunately the market seems to be shrugging them off and the month has started on a positive upswing. If the buyer(s) can outlast the seller(s) we might just be on to something at long last, fingers crossed.

Friday 12:00 noon on Investor Meet Company for anyone interested.

Friday 12:00 noon on Investor Meet Company.

Probably the latter, either way we'll take any positives just now.

Well worth a read, as rylidan says.

Hello, is the beast finally awakening?

They don't like it up 'em Mr SD235, they do not like it up 'em!

Finally a bit of positive SP action in response to our big buyer, I'm sure there are interesting times ahead here. Looks like your buying was well times rylidan.

Buy at 9:34 3,821 @ 39p (+12%)

Sell at 9:40 50 @ 32p (-8.57%)

Showing no change on my screen now though so must have sorted itself out?

That's not you is it Sam? lol

Joking aside, 15% is a chunk of the company, let's hope their interests are aligned with those of the Buttery family or this could get awkward.

From today's edition: "Merger activity in the property sector heats up with bid battle for API"

"Just last week, however, a new contender entered the frame as Urban Logistics (SHED) made a counter-offer for API at a premium to the Custodian deal, potentially signalling the start of a bidding war for UK commercial property assets.

Urban Logistics approached the Abrdn trust with an all-share offer which valued the latter at 59.2p on the day of the announcement, a 23% premium to its undisturbed share price the day before the Custodian deal was made public and a 13% premium to the Custodian offer.

Urban Logistics claims the two are a good fit as only 9% of the combined portfolio would be outside of logistics and retail warehousing, in addition to which it knows the API assets well."

"Despite this commercial logic, convincing API shareholders may be another matter as over a quarter of the shares are owned by retail investors who appreciate the 7.7% yield and quarterly dividend payments, whereas Urban Logistics has a lower yield and pays a semi-annual dividend.

Also, 9% of API’s shares are held by wealth management firm Mattioli Woods (MTW), which happens to own Custodian Capital Ltd, the manager of the Custodian REIT, and would presumably rather see the latter take control."

"Why is Diversified Energy launching a tender offer and what are investors’ options?"

"There are two main options in front of shareholders on the register as of 1 March. They can do nothing, in which case they will receive their dividend of $0.875 as normal on 28 March, or they can waive some or all of their dividend entitlement and instead sell shares in the tender offer.

The price paid will be 105% of the average market value per share for the five business days immediately preceding 27 March. To illustrate, if this matched the current price of 938.5p, then you would receive 985.4p. Importantly, you can only

tender shares up to your allocation but you can tender some shares and still receive a part of your dividend entitlement.

The waived entitlement will be calculated by multiplying the number of shares tendered by the tender price, and the exchange rate which determines the entitlement will be revealed on or around 20 March.

WHAT WILL HAPPEN AFTER THE TENDER OFFER?

The company has made clear it will only allocate around $42 million – the same amount as the cost of the dividend – to this return of capital, and once purchased the shares will be cancelled. As with any share buyback, reducing the number of shares in issue means the amount of earnings and dividends attributable to each individual share goes up.

A back of the envelope calculation suggests if all investors were to take the tender offer option there would be a reduction of around 9% in the number of shares in issue."

...tick up coming?