Donate to Remove ads

Got a credit card? use our Credit Card & Finance Calculators

Thanks to johnstevens77,Bhoddhisatva,scotia,Anonymous,Cornytiv34, for Donating to support the site

Town's app sale

Gerry557
Lemon Quarter
Posts: 1999
Joined: September 2nd, 2019, 10:23 am
Has thanked: 172 times
Been thanked: 542 times

Town's app sale

#513904

Postby Gerry557 » July 13th, 2022, 8:10 am

Potentially a big deal in the offing if the app gets sold for £20m. Market cap is £75m and I think they invested less than £4m so big profits.

Not sure what they well do with the cash but expect it will aid the pipeline of projects they want to do.

I wonder if this is why the SP is off its recent lows



http://www.thisismoney.co.uk/money/mark ... Space.html

Gerry557
Lemon Quarter
Posts: 1999
Joined: September 2nd, 2019, 10:23 am
Has thanked: 172 times
Been thanked: 542 times

Re: Town's app sale

#514214

Postby Gerry557 » July 14th, 2022, 9:16 am

Its now official, the app has been sold for up to £20.7m. The actual amount paid was a lot less than the book price too. £3m split in half by a loan, so better than my memory of the events.

The trading update looks positive too

https://www.investegate.co.uk/town-cent ... 00064085S/

So debt is going to be reduced and the pipeline invested into following additional sales. The market has taken note and the price has risen but still offers a big discount.

There are some negatives, the SP spread is about 6% so maybe that puts off traders and or potential investors for a quick win. The yield is on the low side compared to other REITs, and a bit lower now the SP has reacted positively. Debt might also be a little on the high side for some. A small market cap might also keep this under the radar and off the table for others.

I dont know if the family control is a negative or positive. I see it as a positive but others might disagree.

I wonder where this will be in the next few years.

Gerry557
Lemon Quarter
Posts: 1999
Joined: September 2nd, 2019, 10:23 am
Has thanked: 172 times
Been thanked: 542 times

Re: Town's app sale

#514531

Postby Gerry557 » July 15th, 2022, 10:42 am

Another jump in SP based on a tender offer for 185p currently 175p. You need to factor in trading costs etc.

Its getting to be an interesting share rather than a steady eddie.

Market cap will be smaller assuming it all goes off and the pool should allow dividends to increase a bit sooner.

Im thinking about just sitting on my hands and seeing how this plays out.


Return to “REITs & Property Companies”

Who is online

Users browsing this forum: No registered users and 5 guests