Member Info for tickhilltim

Pro- forma NAVs at 30 June required to better do the sums.You would hope that their corporate brokers and advisors had the nous to ensure these are provided.

The RNS smacks of the usual nonsense typically associated with weak non- execs.Classic flawed argument.Interests of EDs are only aligned with those of other shareholders if they have paid hard cash for a decent slug of shares.Its called “skin in the game”. If the shares go up they share in the gain ,if they go down they share in the pain.LTIPs are upside only.If they screw up it costs them nothing.How is that aligning interests?

Approval sought .Has my support as the fairest way to return capital to shareholders.CRF seems a bit premature as there is still a big pile of debt.Wonder if we will be given any information on when they anticipate they will be able to use it.

A more optimistic outlook,not before time.Taken a sizeable hit on the portfolio sale to create liquidity and flexibility with the banks.We now need serious delivery on condominium sales.Numbers still small in relation to the debt.Yet again the carrot of a return to shareholders mentioned.If you are going to do that why not put a timeframe/ criteria on it? If the board is serious about winding down the business,then surely repaying all the debt has to come first? That looks 3-5 years away unless there are further bulk asset sales/ sale of the business - the latter would be welcomed by this shareholders.If the market is improving this should be back on the agenda. But that would stop the gravy train for the board and managers,of course.

A high dividend offsets the capital losses.Company is controlled by Morstedt family so strategy is more unpredictable than that of a widely held listed company.High leverage accentuates swings and removes flexibility in downturns.Current share price is 30% of what it was 10 years ago,so I imagine some long term holders are nursing significant losses- offset by some dividends ,of course.Current strategy is pragmatic, but it should be no surprise that the market sees it as a company under short term pressure.

Past

Anyone who thinks shareholders will get any money if Wood goes into Administration needs their head testing.

Board have capitulated.Where is the White Knight? Sidara have messed the company around before and I for one do not believe they will stick with 35p.What odds they will drop the price again at the last minute They are just looking to see the best bits to cherry- pick ( the people?) . let’s hope other potential buyers are having access to the same level of information.Its the unquantified liabilities which scare me.

Mr Market does not seem to share your confidence,LTI.Shares still slipping.

If everything is fine why have they cut the divi? Because they need to retain cash as their liquidity requirements are clearly stretched.

This is about having adequate liquidity to avoid forced sales and/ or breaching bank covenants or not being able to respec buildings to the standards buyers want.

On the face of it, the share price is too low.Less than third of NAV and with a well- covered dividend probably still yielding 8% annually at this price.

But LTV has remained stubbornly high at 50%- imho too high a level.when divis are cut to invest in improving the estate it suggests that not enough cash inflow is expected from business operations or asset sales in the shorter term.We are told 50% of the estate is rated A/B.That is somewhat low although not clear if this applies to non- uk assets.

Needs more tangible good news for a re-rating?

Why is the Board prepared to accept 35p? Look at the numbers they have rejected in the past.Maybe they want to sell before the details of their managerial incompetence become public? And get out ahead of any possible potential litigation.Hard to believe there are not more undisclosed serious financial issues at play.Where are competing bids?

To get an understanding of what many shareholders think about the prospects for RGL look at posts from 12 months back.

In a nutshell, RGL was a basket case rescued by Bridgemere.You could ask yourself why they kept on the Inglis mob who were responsible for the poor performance.Debt still way too high.Occupancy only 78%.Continued bullish statements.Reeves like tendency to blame others.Not to forget the poor real estate acquisition policy and high risk over leverage of the last few years.Others may have different views.DYOR.

Despite ex- div today.Overdue for a rerate.

The closing share price today seems to reflect the belief that the offer is too low.

For those who bought back in the day when the price was up in the 180s etc it is understandable.

The offer is higher than the share price for the last two years.And narrows the discount to NAV significantly.Well tighter than on many REITs.

There is a case for taking the money and reinvesting elsewhere….

The proposals are just ludicrous and typical of the greed of many of the players in the real estate sector.Shareholders are just there to be gouged.Board complicit,of course.Feeble non- execs.who cares a flying fig about the minutiae of how the payout works except those in the trough.As for institutional investors.Can you spot one with backbone? Whole business should be sold to a big house so shareholders can get proper value and avoid a load of cash going out to underperforming gravy- trainers.How many initial shareholders have made money out of this fund? Where is this in the blurb and puff?

Has a smell of panic and hysteria about it.

Board,Advisers ,Managers all can see their gravy- train disappearing if this fund gets taken out.

Hargreaves produced a report for clients today for this FTSE 250 fund.

Clients of HL have not been permitted to buy this share for 6 weeks before Monday because HL thought TRIG did not comply with Mifid regulations on fees/ costs disclosure.

Useful analysis.No doubt Continuation Vote will be a formality.Do any of the institutions ever give these people the hard time they deserve? At least the banks have,but at shareholder expense.Disappointed a new tough NED has not been appointed to keep the rest of them honest.Let’s see what the audited accounts show,particularly on asset valuations.

Every post I now make.All very polite ,about a certain platform are being deleted.Establishment close up.

If you are on a certain platform you are not allowed to buy these shares.Anyone guess which one? PS all posts get deleted….

The idiots are still preventing clients buying this stock.weeks now.And for others like SEQI and HICL.Mifid compliance reasons .Other platforms do not have the same problem.About time the CEO got to grips with the situation.Does he know what is going on?

Been impossible to buy these shares through Hargreaves because of their excessive compliance nonsense .Any other platforms being as client unfriendly?

Same applies to TRIG and SEQI.Maybe others.Who should I move to?