Member Info for TerryM1

I received this corporate action message from II

"Abrdn Property Income Trust Ltd has announced a Cash Distribution, whereby eligible holders will be issued with GBP0.52 in cash for each share held. The ex-entitlement date is 17th December 2024.

The cash is expected to be released by the company on 23rd December 2024. We will allocate the proceeds to accounts when we receive them from the company."

So should get the capital payment one day early on 23 Dec.

Https://www.tipranks.com/news/company-announcements/supermarket-income-reit-share-acquisition-by-pca-of-benedict-green

Supermarket Income REIT PLC announced that Passaic Services Limited, a closely associated entity of Benedict Green, acquired 112,621 ordinary shares in the company on December 19, 2024. This transaction highlights a significant increase in shareholding by Benedict Green and his associates, amounting to a total of 2,788,162 shares, potentially strengthening their influence within the company.

I will be putting the return funds in one or more of ADIG, AERS, RESI, HEIT, ASLI which I already have positions and all in winddown. May also buy some more API if it goes below 6p, should get a good return but may have to wait a time, still waiting for the last drips from EPIC after quite a time but virtually all funds returned and seen a nice profit.

Would like to top up on other REITs like SUPR and SHED at these high yields and high discount to NAV but losing confidence as constant falling SPs due this Governments higher Interest rate for longer and drive the country into recession polices.

The little relief with most of my high yielding ITs/REITs falling are more winddowns so at least some chance to make a bit of cash from the falling market. Such a turn around from a few years ago when REITs/ITs at a premium to NAV and were raising funds on the market, would buy in on the fund raise and sell all or most a few months after when the price recovered leaving just my core holdings.

Been looking at this for a time wanted to get in below 60p but no chance now so bought in this morning, hopefully a decent pay out in the next 6 months.

Also been buying API, AERS, ADIG, RESI and have holding in ASLI, API will soon return most of the funds and waiting for the rest to start returning funds. Already done well with EPIC and BCPT so hopeful should get a good return with very little risk.

Would like to top up on other REITs like SUPR and SHED at these low price and high discount to NAV but losing confidence as constant falling SPs due this Governments higher Interest rate for longer and drive the country into recession polices.

The little relief with most of my high yielding ITs/REITs falling are more winddowns so at least some chance to make a bit of cash from the falling market. Such a turn around from a few years ago when REITs/ITs at a premium to NAV and were raising funds on the market, would buy in the raise and sell all or most a few months after when the price recovered leaving just my core holdings.

Werock

Where are you getting the Numerco price, I just get a logon page when I look and has been this way for a time?

From Yellowcake site now

$73.75/lb U3O8, Daily Change $-0.73, -1%

"yes covid didn’t help"

It should have been a major boost to CPI, a lot of companies saw the opportunity to administer the many government schemes when they were chucking money around and made good profits. If JL had not spent all his time trying to justify his mistakes and went after some of these schemes we would be in a far better place now, also working from home and subsequent reduction in office costs is helping CPI.

JG68

"Train drivers pay up"

and strikes starting again

"This stupid excuse they keep going on about 22 bill black, what rubbish , it was around 9 bill which is normal until Reeves gave all the lazy union members ridiculous pay rises."

Not even the OBR thinks there is 22bn black hole.

Add in tens of billions for ESG projects home and abroad as well as many other things Labour is throwing money at, Chagos Islands paying hard cash to give it away, now ex private school pupils being taxed at state expense up to 20 miles or home schooled as they overloaded the state school system with VAT raid on private schools, you can't make it up. It will not be long before Racal form complaints will be wishing she just had a 22bn black hole.

GoCPI

Good summery but I have to say

"We're now firmly attached to the hip of a recovering UK economy. If the numpties at the top of the Labour government do their job and make the economy thrive, so will we."

Not sure any sane person expects this Labour government make the economy thrive, they are intent on sending us into a recession and even Keir Starmer now states it will take the public some time to feel any positive impact with any of his policies.

Phippsy

Not just you but other things in play as stated I suspect shares issued as part of acquisitions dumped on the market, possible short increase but I think this is not likely but with DEC who knows.

JG68

Well done for putting the question.

"On the working capital management point, if we’d held the previous guidance this would have created large swings within our working capital"

What the hell does this mean, seems to me their guidance was rubbish or worst lies.

"or the £250m cost savings, we’ve said these will be actioned by the end of December 2025, that means we won’t see the full year benefit from this until 2026, but these play a material part of delivering positive free cash flow from the end of 2025 into 2026."

So not profits and no hope of a dividend for another year or more, this must be the longest turnaround in history we are looking at 10 years give of take if it actually happens. This is taking jam tomorrow to entirely new levels.

JC01

Totally agree, IMO we have 6 factors holding us back

1. The shares created in the acquisitions being dumped on the market which will take quite a time to be absorbed.

2. The dividend yield which is stuck for 3 years and will not be enough to see a rise out of this range as investors want income form O&G companies, this is not AI.

3. Lack of BBs most other O&G companies have large BB programs to counteract the ESG sell off.

4. The large long term fixed rate debt.

5. Lack of trust in Rusty, his lies and he seems to have no interest in doing the right thing for shareholders or the SP, after all he is responsible for the previous factors.

6. Those who have bought at higher levels (including me) who will be happy just to break even ignoring inflation, interest and opportunities elsewhere will be selling out if/when the price rises.

The fundamentals may be good but too much history of Rusty's shenanigans for a lot of investors. Perhaps a buying opportunity for a different set of investors not bearing the scars of the last few years.

Hexam

I think we must beg to differ, total cash flow/cash flow, however it is a bit of a grey area.

After your post I checked with Investopida and I have just quoted what they say in the article titled

"Cash Flow: What It Is, How It Works, and How to Analyze It"

However it does say

"What Is the Difference Between Cash Flow and Profit?

Again, cash flow simply describes the flow of cash into and out of a company. Profit is the amount of money the company has left after subtracting its expenses from its revenues.

What Is Free Cash Flow and Why Is It Important?

Free cash flow is the money left over after a company pays for its operating expenses and any capital expenditures. Companies are free to use FCF however they choose to. Free cash flow is considered an important measure of a company's profitability and financial health.

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Cash flow is the movement of money in and out of a company.

Net cash flow is calculated by subtracting total cash outflow from total cash inflow.

A company's cash flow statement reports its sources and use of cash over a certain period of time."

For me this is the definition I have come to understand i.e. CF has nothing to do with profits but FCF has. They may well be other definitions.

Savage_KeyboardR

“TerryM1 - Without the RI it would have gone bust

Yes, that's probably true given what many have said on here (I don't specifically know this for sure, as I haven't delved into the accounts published for the particular period when this was taking place - only the general overview numbers).

So you agree that back them JL had to reach for the RI lever?”

Absolutely not, he lied, duped shareholders, he could have gone for RI but he needed to tell the truth however I suspect the RI would have failed and could not have that as he would have been out of a job and off the gravy train. I was not totally convinced but still had capital gains if I let the RI lapse would have CGT to pay so took up enough to just avoid CGT but this now leaves me with huge loses. JL then lost shareholders who took up the RI (and others) huge amounts of cash. He continued to lie until everybody was fed up with it and he had to go. I called him out some years ago and believe I was the only one at the time and got a lot of flake but this changed as more and more people realised the case. Even got some gracious apologies but still waiting from EATSOCKS who was particularly bad at the time.

“With this knowledge... I suggest CPI has now entered a similarly dangerous period of time (maybe not this very month but... quite possibly in months or some months ahead).”

Maybe it has, it is not good but I believe AH will succeed and turn this around eventually and IMO insolvency at this point is scaremongering.

“This thread I started because I asked the open question: Will AH tap shareholders for cash?

Do you think AH will take some sort of action to tap shareholders again?”

This I do not know but one thing I do know he will not get 1p more from me, it is sink or swing for CPI with what they have as far as I am concerned, if it sinks the only good thing are my capital losses which I can offset against other capital gains.

"I’d like to know what you think the answer to that is too. What is the difference?"

This was covered in my post which quotes Investopidia but I will add some more information from the website

https://www.investopedia.com/terms/c/cashflow.asp

"Cash flow is the movement of money into and out of a company over a certain period of time. If the company's inflows of cash exceed its outflows, its net cash flow is positive. If outflows exceed inflows, it is negative.

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Formula and Calculation of Cash Flow

You can easily calculate a company's net cash flow using this formula:

NCF = TCI - TCO

Where:

TCI = Total cash inflow

TCO = Total cash outflow"

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What Is the Difference Between Cash Flow and Profit?

Again, cash flow simply describes the flow of cash into and out of a company. Profit is the amount of money the company has left after subtracting its expenses from its revenues."

This is my understanding, I think we may be in agreement with FCF

We live in hope but does seem possible with everything going on and hopefully lead to DEC SP recovering some more.

Savage_KeyboardR

Without the RI it would have gone bust just JL lied.

Savage_KeyboardR

"If CPI was in fact insolvent back then well then it would have already gone bust. Claiming it was just hidden is nonsense and there absolutely would have been signals within the results being published."

It was insolvent in all but name all sorts of things hidden in the accounts including vast amount of good will which was worth nothing. Just look at the facts, far more money raised in the RI than the company is now worth after also selling off the family silver.

Savage_KeyboardR

"TerryM1 - I've repeatedly explained why I'm on this board for all to see."

So please tell why you are here from what we can see it is Schadenfreude and make political statements.

I look at many companies and if I decide it is not for me I move on and do not waste my time machine gun posting on that companies chat board to deliberately annoy shareholders.

"I find your language quite accusation/aggressive"

Pot and kettle. Well what do you think you are doing saying I need a basic lesion in adding but you reference to Blackadder when it is you who does not understand the difference between CF and FCF.

"You sound like a bully tbh - you also seem to enjoy trying to shut discussion down"

Happy to discuss with people have interest in the company many have opposing views but someone who is here to gloat needs to be called out.

Savage_KeyboardR

"Um... that is just not correct... if you batten down the hatches + cut costs you'll just see sales locked in freefall and costs won't reduce quickly enough so you'll be insolvent and fast at that... it's a lovely narrative that might sound plausible but it will not work."

It is correct as at that point CPI by chasing cashflow were insolvent, just it was hidden, JL lied about it and went to the market with RI, the result is CPI is worth a lot less now that the money raised in the RI, just check the facts.

Who knows what the outcome would have been if CPI had not chased unprofitable contracts etc but one thing is sure those long term holders would not have thrown good money after bad at the RI and been a lot better off if CPI went under.

From Investopedia

"Cash flow is the movement of money into and out of a company over a certain period of time"

i.e. more contacts more cash in, more cash out in expenses, more cashflow, does not necessarily add to profits and in CPIs case losses.

"Free cash flow (FCF) represents the cash that a company generates after accounting for cash outflows to support its operations and maintain its capital assets."

This is where the profits come from.