Town is doing more buybacks which will reduce the free float below the 35%.
This means that they will loose REIT status so liable for CGT and corporation taxes.
So this will impact on the ability to pay dividends going forward, which was already a lowish yield.
My concern is what is the longer term plan and how will this affect the remaining private investors. Its looking like the family might be engineering it to be taken over. So what does one do. Could fingers get burnt.
Previously I've been happy to follow on the families coat tales but wonder if it's time to consider jumping ship. Of course they might have no intention to do PI's any harm.
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Losing REIT status
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- Lemon Quarter
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Re: Losing REIT status
Remember the law of unintended consequences, one of the most powerful forces in the universe.
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