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RPF - Redcape Property Group

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So_Cynical

So_Cynical

The Contrarian Averager
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HLG own about 100 pubs on the east coast, mostly quality pubs and fully tenanted, some with
pokies and retail liquor outlets...HLG floated in July 2007 at $3.50 per share, they closed today
at 27c mostly due to there 745 million in debt that needs to be refinanced by Aug 2010.

Anyway they announced (after market close today) that they will not pay a final distribution for
FY09 saving them about 6 million....i figure they will get smashed tomorrow :dunno:

anyone have an opinion?
 
HLG is coming out of a 4 week trading halt tomorrow..there "market update" today was a little more upbeat than there announcement 4 weeks ago when they went into the halt...they seem to be a little more confident about there future, however with the declared loss of 178 million i would imagine there may be some initial weakness in the SP :dunno:

http://www.hlg.com.au/admin/uploads/asx_announcement_29_september_2009.pdf
 
HLG sold 5 of its best Pubs yesterday and today the Share price responded to the tune of 42.59% :rolleyes: there not outa the woods yet but there certainly in a much better financial situation.

Spewing i didn't buy in back when they were 17 cents, and again after the halt was lifted for 24 cents....another one that i watched get away from me :banghead: closed today at 0.385
 
So_Cynical said:
Spewing i didn't buy in back when they were 17 cents, and again after the halt was lifted for 24 cents....another one that i watched get away from me :banghead: closed today at 0.385
Click to expand...

Unfortunately over the past year there have been too many of those shares that have increased by dramatic amounts....

What will be the effect on their earnings after selling 5 of their best pubs?
 
bloomy88 said:
What will be the effect on their earnings after selling 5 of their best pubs?
Click to expand...

I said best as in position...there earnings would fall by approximately 5 or 6 % i would assume, anyway its the debt and the need to refinance that debt, that is (IMO) subduing the SP.

Yesterdays dramatic upswing is all about the perceived improvement in there financial position....IMO 35 odd mill don't make that much difference. :dunno:
 
Hedley Leisure and Gaming Property Fund (HLG) is now known as Redcape Property Group (RPF).
 
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