Member Info for tickhilltim

I am quite new to NRR and this board trail.I am Only interested in NRR fundamentals.You seem to be very focussed and not distracted by the nonsense from people like BP ( he is also one of the many locusts who has descended on Ukog/ Alba this week).I have skin in the game. Why are people discussing Intu on this board? Not at all relevant to NRR except being a REIT? More relevantly, some REITs are now publishing updates on the June quarterly rental experience.NRR have the figures.The sooner they release them the better, so investors are not misled.We need the pubs to be like Bournemouth beach.Anyone else want to talk fundamentals?

Biggest controllable risk for the Board has to be the debt burden.Absence of income for a prolonged period could trigger debt covenants which are commonly measured on how much property income covers cash interest payable.Sometimes default on one agreement can trigger cross default on other facilities.Such covenants can be waived by lenders and is regularly happening in this market.Borrowing more to buy more assets would be quite a gamble until normal business is resumed.Priority is to protect the short term downside risks, ie by cutting net debt.If virus gets locked down, and property income recovers substantially what value could you see on these shares in 6mths time ? Double the current one?

just one FY19/20 quarterly dividend of 5.4p in the next 12 months would be a yield of almost 8% at a 70p share price.Quite appealing to income seekers.Ought to be achievable in the absence of another doomsday virus bout? Cutting debt without depleting NAV further will be a test of the management team- which has done a good job For shareholders to date.

I also like to see directors buying.Wonder if they knew that they were going to release a positive trading statement a few days later? Guessing it does not qualify as insider trading, but certainly ethically questionable to my mind.

Echoboy,I am very happy to cut personal insults and bad language between shareholders.I worked in the City for 35 years. I would like to think that I can still smell Board incompetence and stitch- up and I will only ever make comments designed to improve the lot of shareholders.This is not a decent resolution for long term shareholders.Harwood and Bayford are not charities. It is not in their interests for the share price to go up if they want to buy.the company.Also, Is it not suspicious that the panicky board chose not to mention the previously promised divi to shareholders from the asset sale? Join me in complaining to the FCA.

Good to hear constructive input.Did not respond to Echo.He is well-named.Obviously only likes hearing his own voice. And he will not read this response as it will be far too long.Harwood and Bayford operate basically or tangentially in the same sector as Fulcrum.They want to “integrate “ it on the cheap.The Board appears to have conceded control to two potential acquirers of the business.No explanation.Clearly they are spineless .And also, taking actions against their fiduciary duty to the totality of shareholders.So,the board has conceded everything and gained? Sweet FA operationally.More later.

You are very logical S777.But not in tune with snowflake priorities! Approx 15% undergrads and 35% postgrads are overseas students.They have the cash to pay for better quality accommodation.Much reduced demand expected this autumn.Scary to come to UK when we are in Covid chaos compared to the rest of the world.Current forecast for U.K. student deferrals to 2021 is c20% :about twice the usual rate.Remarkably,many ( most?) UK undergrads do not actually go to uni purely for the education.They go for the fun, freshers week, partying etc etc.So,unis in 2020 are likely to have a shortage of bottoms on seats and therefore fewer cheeks requiring beds. By 2021 their parents will want them out the house.And hopefully overseas students will still want to come to the U.K. although the EU ones will not have the same guaranteed access .

Decent resolution? Which planet you on? How many listed Companies do you know where a shareholder with less than 15% of the shares have the right to have their own man on the board.So two of them, obviously not working together.And the chairman who also appears to be a paid operational adviser to Harwood on other business ( no conflict there, obviously).Then two additional “ independent “ directors to be appointed.And who will chose them, do you think? The new board?Control of decision- making for this company appears to have been handed over without a premium being paid, unless I have misinterpreted the RNS.One would hope the current Board will get round to explaining their rationale to the 75%+ shareholders.

Finances under control here.Unis will reopen by Oct.If overseas student numbers markedly down, even if they have to trim the fees, there are plenty of UK students whose parents will step up to ensure their snowflakes are protected.Just got to avoid a material second virus wave in Winter.....