Asset Plus (APL)

[Getty]

Yep have to agree Grimy. Unless the economy collapses totally, in another year and a half will be at .40 or .45, But I suspect Augusta will pick a time for a takeover at .35.

And if only 35c is offered, then existing holders should have the fortitude to say "go away, and annoy somebody else..."

[Grimy]

Was hoping for a dividend announcement by now (or an announcement of no div). Eastgate settlement was announced some time back to be completed in April. Perhaps waiting to finalise this before deciding on dividend amount/timing?

[Nigel]

Do they still borrow to pay the dividend?

[Grimy]

0.225cents + imputation credit (half the recent payment amounts) to be paid on the 25/3 (3rd quarter).
No 4th quarter dividend to be paid. Capital to be retained while sorting out Graham Street and finishing Munroe Lane (sounds sensible to me).
Drop in dividend has been well communicated, so not a surprise. Not so the suspension of the next one.
Ex div on the 17th.
Eastgate sale could be a little delayed.

[na2m1]

This share seems to have been hammered. Is it a good entry point?

[Grimy]

Probably not until there is some clarity regarding resumption of the dividend, and at what level, but more importantly, updates on the progress with both Graham Street and Munroe Lane as far as building/renovation/leasing are going.
If there are any surprises to the downside the entry price could get better!

[Southern Lad]

Sale of 35 Graham Street, Auckland - NZX, New Zealand’s Exchange

Despite APL's best efforts to spin this as a good outcome for shareholders, the waiving of the white flag on Graham Street is a massive failure of APL's strategy. The drawn out nature of the sale (potentially as late as December 2024) ties up APL's flexibility to move on. Where to from here for APL?

[Grimy]

Has certainly moved the share price so far this morning.
But the settlement date(s) are out there. You'd think they would have pushed for something like this December, with an optional extension to sometime 2023.
I did think Graham Street would either hold them back, or be the jewel of the portfolio after refurbishment. So not really too sure if I'm pleased or not.
But certainly not with the settlement dates.
Perhaps this will give them confidence to reinstate the dividend. But you'd think they knew this was coming up/possible when they cut the recent dividend in half and shelved the next one.
So on balance I'm not that impressed....

[bottomfeeder]

Has certainly moved the share price so far this morning.
But the settlement date(s) are out there. You'd think they would have pushed for something like this December, with an optional extension to sometime 2023.
I did think Graham Street would either hold them back, or be the jewel of the portfolio after refurbishment. So not really too sure if I'm pleased or not.
But certainly not with the settlement dates.
Perhaps this will give them confidence to reinstate the dividend. But you'd think they knew this was coming up/possible when they cut the recent dividend in half and shelved the next one.
So on balance I'm not that impressed....

It's a bit of skulduggery if you ask me, similar to Russian oligarchs stripping their companies assets at less than market value. APL has done all the groundwork on Graham Street fir so long, funded it, took substantial risks, and for what a piddly few million. On top of that we can be holding the baby for a few years yet. Who completes and maintains the property in the meantime. I thought that there would be a takeover by Augusta at a low 35 cents. It is a bit of a back door takeover. I wonder who the purchaser is, probably Augusta. I wonder why they won't say.
It stinks to high heaven. Minority shareholders are being shafted well and truly.

[ralph]

It's a bit of skulduggery if you ask me, similar to Russian oligarchs stripping their companies assets at less than market value. APL has done all the groundwork on Graham Street fir so long, funded it, took substantial risks, and for what a piddly few million. On top of that we can be holding the baby for a few years yet. Who completes and maintains the property in the meantime. I thought that there would be a takeover by Augusta at a low 35 cents. It is a bit of a back door takeover. I wonder who the purchaser is, probably Augusta. I wonder why they won't say.
It stinks to high heaven. Minority shareholders are being shafted well and truly.

I am quite happy as I added a few more at.26 & 28 and we are back in profit ,they probably responded to the sp with this sale looking after their shareholders sorry for anyone whom missed out on the temporary sale prices