Member Info for Luvitall

So jumps to 709 then down to 636.....I don't have access to earlier trades but we're there some big buys then loads of sales?

It attracts shareholders that only invest in dividend paying stocks, of whom there are a lot. This pushes up the price which makes a rights issue more attractive to offer. However, I can't see current management wanting to dilute, and I'm quite happy with them not. So I think they may pay a dividend but not for that reason

Well the CEO thinks it is - hes ploughed in around a million pounds of his own cash in the last few months, so I personally find that very encouraging

Odd that the price drops more than the dividend. I suppose some people buy dividends for more than they receive

Makes sense - can't see any other explanation. I noticed that we are at Xtellus's last purchase price now. Would be interested if they go back to buying

So what does that mean? They've moved to a long term holding?

To get net Asset Value per share you take total assets and knock off total liabilities then divide by the number of shares. Hammerson did this for us in their biannual accounts and came up with 452p from memory. As there has been a share consolidation of 5 to 1 that means now it's 452x5=1260p per share. Of course every valuation is subjective but valuing property has much more solid foundations than say valuing a painting. The sale of via outlets was from memory on something like a 10 or 12 percent discount to existing book value and the rest of the property was then discounted a similar amount. This would imply that the current valuations are pretty accurate. There's going to be no fire sale of these assets - they'll sell the occasional property while holding out for a good deal. So I think whereas no valuation is 100 percent unless you are valuing cash, this is pretty good and even if they were a bit out or there were another small decline in value, any buyer of shares would be so far ahead of the game in terms of asset value that it wouldn't matter.

Net Asset Value DOES take into account debt. That's the Net bit meaning debt is taken off. And the valuations are real, updated in July by valuers who are professionally liable if they get it wrong. So assets are 2250p per share meaning you get about 8 times what you are paying for at the current share price, which is the bulls argument and why presumably Lighthouse and the director de Beer have been spending millions on the shares.