RE: Answers on a postcard please...14 Aug 2019 21:36
I am not sure many SWF's will want to buy the whole thing. They may do more deals like Cale. St which make sense. They are not interested in owning shopping centres (no one is), but will deffo be interested in 6%+ guaranteed income strips.
RE: Answers on a postcard please...14 Aug 2019 21:09
Market don't buy it. Anyway if there was a bid on this most of the market would know about just based on the fact that the debt would need to be financed by likely a syndicate of banks.
RE: Answers on a postcard please...14 Aug 2019 20:54
The BoD here is just aweful. They have a GBP200m plot of land they could offload in Costa Del Sol, but they are not even marketing it, makes no sense to be in such distress yet hold onto assets which provide no income.
This thing is run by hill. That man ran a bank over 30 years with compound growth of 23% pa and many recessions. He knows what he is doing, would not bet against him, RWA error aside.
The thing is this thing has to be the worst performing stock on the entire FTSE, look at the graph. It moves like it is going bankrupt, when clearly with such a well-heeled backers no one should mess with it. S Cohen owns 9.12% of it for FFS.
they sitting on a $330m mountain of cash and no debt, not sure why the shorts were so high. I think they should forego the divi and spend $200m of that cash mountain on buybacks. It would be the least shorted stock on the FTSE :-)