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
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Town's app sale
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- Lemon Quarter
- Posts: 2198
- Joined: September 2nd, 2019, 10:23 am
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Re: Town's app sale
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.
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.
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- Lemon Quarter
- Posts: 2198
- Joined: September 2nd, 2019, 10:23 am
- Has thanked: 192 times
- Been thanked: 613 times
Re: Town's app sale
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.
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.
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