Member Info for Oldworldorder

BBC’s Panorama states “Severn Trent Water claims that an investment is worth £1.68bn in its accounts, when in reality it has no value to the overall business.” It alleges that it is an accounting “trick” which began in 2017. SVT denies the allegations.

Looks like this is going to be another yet another ipo that is going south. Why price it at such a level when it’s going to leave so many disgruntled buyers, other than greed on the part of the sellers? What APN doesn’t seem to appreciate either is that people who’ve stagged this and made a loss will make them less inclined to buy their products too, yours truly included.

By making that offer, Is Bwy itself now in play?

The Times is reporting that Philip Jansen is in talks with PE firms to launch a takeover bid that would see him installed as executive chairman

Why are they dabbling in FX derivatives?

With the AGM coming up on Wednesday and the shares trading at an unusually wide 12% discount, the Board have the opportunity to announce a buy back to remedy this situation:

“BH Macro is entitled to redeem upon three months’ notice no more than once per year, a portion of its interest in the Master Fund representing up to 10% of each class of the company’s holding of Master Fund Shares.”

Also, “if any class of shares trades at an average discount of eight percent or more of the monthly NAV in any calendar year, the company would hold a class closure vote of the relevant class.”

Anyone who participated in the capital raising earlier this year at a much higher share price will be looking for the Board to be proactive on this issue.

Bigot: “a person who has strong, unreasonable beliefs and who does not like other people who have different beliefs or a different way of life:”. That definition suits Longden very well. Wickes say they are “inclusive”. That should read they are inclusive only of everyone who shares Longden’s ideological views. That isn’t inclusive at all. Longden should stick to selling hardware and paint and keep his political views to himself.

Investors Chronicle reported that Private Equity groups may be targeting house builders and builders merchants. The share price rise on Friday suggests that PI’s are taking this seriously.

Home Reit switches to selling property in search for stability

https://www.thetimes.co.uk/article/c2c3d7c6-d3c7-11ed-b1cd-5223fe349502?shareToken=e58d755750691e85b33acfb8ccb39992

The price has gone to a rare discount . Looks like it’s only happened 3 times in the past 5 years. Should be a good time to buy.

From today’s Daily Mail:
“CRISIS-HIT homeless housing firm Home Reit has been forced to delay its annual results again as its auditor requested more time to complete work on the accounts.

The firm, whose shares were suspended this month after it failed to publish figures by the end of last year, said accountant BDO would ‘not be able to conclude its work and internal review process’ by the January 31 deadline.

It partially blamed BDO’s request for ‘substantial’ amounts of data relating to its portfolio, which numbers over 2,400 properties.

Home Reit planned to publish its results for the year to the end of August on November 28, but it delayed the figures after coming under attack from Viceroy Research, a hedge fund run by notorious short seller Fraser Perring.

Home Reit said the figures would be released ‘no later’ than the end of January. But this will also be missed.”

“Noble Tree says that various monies to refurbish, insure and provide other services for an 80-strong property portfolio housing homeless people in Northampton failed to arrive, despite assurances from Alvarium, Home Reit’s investment adviser.

Under Home Reit’s business model, certain funds are supposed to be supplied by the vendor of the property, but Noble Tree says it has been left with a £1.2 million shortfall. Matt Fearnley, the charity’s chief executive, said he would prefer not to be withholding rent from Home Reit, but “we have no choice because they won’t talk to us about this”. He said Noble Tree had received £800,000 towards upgrading the properties so that they could house vulnerable clients, but “the lease promised more”.”

Noble Tree are withholding £661k of rent and are poised to withhold a further £220k. Looks like it’s all unraveling: Noble Tree Foundation in Home Reit row over promised funds

https://www.thetimes.co.uk/article/c695ce38-902c-11ed-8b99-f233af7a7956?shareToken=286f8e83262fd88900dcf93d700b1113

Some inflation hedge this turned out to be !

Liberum has cut its target price for WIX from 425p to 360p, still nearly treble the current sp

Tomorrow’s Mail on Sunday is reporting that Blackrock and Marshall Wace are both shorting M&S

Telegraph online are reporting that Discovery has advanced an alternative proposal for BT Sport , competing with Dazn , that is being seriously considered by BT.

https://www.telegraph.co.uk/business/2021/08/01/amazon-bid-morrisons-would-prime-move/

CDR have got until next month to bid. The timetable was reset by Fortress’ offer

CD&R Weighs Fresh Pledges to Stay in $9 Billion Morrison Race