Member Info for silverknight

Sorry Doc. I disagree. Time is a critical factor in the equation. If you lost your job and couldn't pay the mortgage the bank is not going to say 'Ok we'll come back in a few years when things look better'. Anything s only worth what someone will pay for it-now.

This is turning from a long term investment into a marathon investment. Dividends can't keep up with sp depreciation. I suspect that drip feeding at these levels is the best solution

The NAV figure is notional. The true figure would emerge if the portfolio had to be liquidated in a month. What would be offered for the offices in that scenario?

The other week you said you had too many and now you want more? Does .185p really make a difference given the potential rewards? Shame the asset disposals are so painfully slow

You would think so. On a 45% discount to Nav and double digit potential yield next year it must be oversold. Gives good geographical diversity to my portfolio

Generally a pretty decent property portfolio. I'm a bit concerned about the gyms and motor dealership being affected by belt-tightening though

As it stands the yield (based on todays sp and nav) will be about 6.75% from January. I like the geographical diversity and the strong revenue reserves.

It's a win win for investors. The buy backs mean the company saves the 8% it would pay to holders in dividends. If you don't need the dividend and are confident in the future of the trust then you're getting more shares at a knock down price

Sorry but people have been waiting for licenses, asset sales, IPOs and various developments even before the incumbent idiot (5 years ago) and nothing happens. How long are you prepared to wait?

Sadly this very situation is replicated among many AIM shares. Public companies should aim to produce a progressive profit and dividend stream to justify anyone buying its shares. Here you will only make money if we enter another speculative phase in the market and the suckers come back. Unlikely for the forseeable.

MrT. I know it's hard to credit but this company is just a cash cow for Bird. Keep it alive for the fees and benefits. Ask yourself why nobody has made a bid for Bezant and then sold off the component operations piecemeal if there's so much hidden value. Probably because they don't believe there is. At least it still has a weak pulse

If the weakness were company or even sector specific it would be more worrying. SPs of reliable dividend payers across the market have been slashed too. I'm inclined to nibble at this price (for the longer term)

It crossed my mind that some vacant properties might be converted to residential but the market is flat there too. The costs involved would be considerable even if planning permission was granted. Look for further dividend cuts when next announced.

Market thinks there's only 1 in 5 chance of realising full value of assets. Property is the main stumbling block for me. davey sounds like you've overcommited here. What's your average? I got mine down to .6p. Still a long way to go

I've been in since Lonzim days too. I suggested to Samir a move down to Asset Match as a cheaper alternative. I think he wants to hang on to the cash for flexibility(?)

He's long been reluctant to delist but it costs around £120,000 pa to be AIM listed.

Two pluses and two minuses for the company.

Pluses. Cash covers m/c. Legacy debt is gradually being recovered.

Minuses. I suspect the property sale is hard going right now. Also the Radar sale seems to be stuck in a regulatory mire.

The liquidation process will probably take years to complete hence the large discount to NAV.

Have you got the patience?

He can't do that. Think about it. The cash belongs to the company (ie ALL shareholders) If he used company cash to buy back the 30% he doesn't own he then has the company at no cost to himself. How much of that 30% is available right now? Remember this guy has run the company for years without payment. Probably unique on AIM. Most directors would have taken the cash as directors salaries. I'm sure the free float is tiny right now. I've held for 10 years so will see it through.

Me too. Delisting may save the company money but wont help shareholders. The bod will still take their salaries no doubt. This is a total shambles

Back into the 20s? You must be a very long term holder.

This trust has been chasing its tail for years. Assuming the dividend is maintainable it should have virtually bottomed out. Over the last 3 years a fixed rate bond would have been far more profitable. A hold for me .