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REO Real Estate

0.25
0.00 (0.00%)
18 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Real Estate LSE:REO London Ordinary Share GB0030364995 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 0.25 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.25 GBX

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Date Time Title Posts
24/2/201311:01REO - How can the shares be valued?1,171
26/1/201223:16REO + CREO Irish and chinese strange mixture17
23/1/201122:47Reservoir Capital Corp. Serbian & Southeast European Natural Resources6
11/9/200321:43REO - WHAT A SPEEDWAGON!40

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Posted at 24/2/2013 10:46 by wangwu
Does anyone know anything about Battersea Power Station shares issued by Reo? Are they worthless or still have some value?
Posted at 11/5/2012 11:30 by wangwu
Can Treasury win the battle against Nama? If yes, reo share price might go up sky-high.
Posted at 04/4/2012 05:23 by wexboy
Hey folks,

Now completed the valuation stage of The Great Irish Share Valuation Project. Just posted Part X, which includes some comments on REO, and also a Q1 performance Review:



Cheers,

Wexboy
Posted at 27/1/2012 22:56 by lbo
Yes the company is safe as no direct Nama loans that we know of and not named in the list of assets that Nama is looking to place in receivership but in theory the shareholdings owned by Barrett, Ronan and if Treasury holds shares could be sold to pay back Nama if Nama went after this asset if Treasury had not enough assets to cover the €1.5bn/€2bn face value of Loans.

According to REO interims last August the REO shareholding in creo/TCT was sold but according to TCT website Barrett, Ronan and a company called Treasury Asian Investments ltd own shares (could be a Treasury holdings subsidiary)
Posted at 02/12/2011 15:56 by lbo
Thats what REO is saying itself and thats with Battersea valued at £500m in the books in June and we now know they only have a 262 million offer from Malaysian investor share price Setia for Battersea.



Diluted deficit per share is at least, even after the recent restructuring since June, a still negative £1.80 per share. And thats not factoring in the further falls in Irish commercial property prices or as per above the reduced sale price of Battersea that is now being talked of.

I also note KPMG have put an emphasis of matter in the REO acccounts. They did that with Irish life and permanent too and that did not bode well for its shareholders
Posted at 01/12/2011 06:57 by caveat_emptor
REO likely to lose control of iconic Battersea power station


By Emmet Oliver, Deputy Business Editor

Thursday December 01 2011

Developers Johnny Ronan and Richard Barrett look set to finally lose control of their most cherished UK asset, the Battersea Power Station, as NAMA and Lloyds Bank move to appoint receivers to the project.

NAMA and Lloyds have applied for a court hearing on December 12 looking for a receiver (known in the UK as an administrator) to be appointed to the project, which gives their company Real Estate Opportunities (REO) only days to do a deal by bringing in an outside investor.

Battersea is owned by REO and a group of investors and the Battersea company owes £324m (€379m) to NAMA and Lloyds.

REO itself is majority-owned by Treasury Holdings, founded by Barrett and Ronan.

While administration now looks increasingly likely, the London landmark has been placed in a special purpose vehicle which means that administration has no implications for other assets connected to either REO or Treasury.

REO bought the site in 2006 for a reported €595m and while planning permission and political support has come for the project, it has yet to be developed and lacks a connection to the London Underground.

A Malaysian fund and Chelsea Football Club owner Roman Abramovich are both understood to have made offers to invest in the site, but no deal so far has been completed.

The move to appoint administrators puts fresh pressure on the REO team.

The two banks this week demanded repayment of the loans from the Battersea company and a statement from REO said yesterday the Battersea company was "not in a position to satisfy these demands for repayment".

The purchase of the site in 2006 was the first significant acquisition in the UK for a number of years by REO.

Set alongside the River Thames in the London Borough of Wandsworth, the site is under a mile-and-a-half from Knightsbridge and under two miles from Oxford Street and London's West End.

Just this week UK Chancellor George Osborne agreed that London's Northern tube line could run to the site, once the developers were prepared to put up some of their own money.

"There is no certainty that any such transaction will be effected," said a statement yesterday from REO about what might happen next. I

Meanwhile, NAMA yesterday released a list of properties it has foreclosed on in Ireland and Northern Ireland. The Osprey Hotel in Naas, Co Kildare, is among them.

- Emmet Oliver, Deputy Business Editor
Posted at 29/10/2011 08:47 by tiltonboy
REO owns 54% of the equity of Battersea, ex REO ZDP and CULS holders own 33% of the equity.

If there is a deficit after the sale of Battersea, which there almost certainly will be, REO will continue to be in the hands of the banks/NAMA.

If there was to be a breakeven/surplus, I would be a rich man through the valuation of Battersea. However, I give the likelihood of that as, as close to zero as you can get.

Ultimately IMHO, and as you are fully aware, the banks are already controlling REO/Battersea and will continue to do so until they get their money back.
Posted at 17/2/2011 21:04 by scburbs
LBO,

Do NAMA have enough power to force REO into selling assets without forcing them into administation? Presumably NAMA will have to incentivise them into co-operation, otherwise why would REO sell any of its assets? Why not just wait and pray for a large bout of inflation?

Don't get me wrong, I am surprised how high the REO share price is, but I suspect they may be able to negotiate some loan write offs to improve things in exchange for making disposals without too much fuss.
Posted at 19/1/2011 09:03 by flyingswan
RNS Number : 4599Z
Real Estate Opportunities PLC
14 January 2011

REAL ESTATE OPPORTUNITIES PLC

INTERIM MANAGEMENT STATEMENT

Real Estate Opportunities plc ("REO" or "the Group"), the real estate investment and development group active in the UK and Ireland today issues its Interim Management Statement covering the period from 30 October to the date of this announcement.

Highlights:

· Battersea Power Station Planning Application approved by Mayor of London and Wandsworth Council

· Significant interest from prospective investors in Battersea Power Station during the global investment roadshow

· Terms of Balance Sheet Restructuring announced on 24 December 2010

· Memorandum of Understanding signed with NAMA on Group business plan

· Continued strong operational performance with occupancy levels at 95% and rent weighted average lease length of 12 years

Ray Horney, Chairman of REO, said: "We are pleased with the progress we have made in recent months. The planning application for BPS is progressing well, while we are also making good progress towards balance sheet restructuring. We look forward to updating the market on further progress in due course."

Battersea Power Station: As previously announced, Wandsworth Council and the Mayor of London have both now approved the Group's planning application for the Battersea Power Station site. The application is currently being considered by the Secretary of State for Communities and Local Government, with a decision anticipated in the near future.

The approvals above represent a major step towards realising the Group's vision for the scheme, which has garnered significant support from various stakeholders including the Greater London Authority, English Heritage, the Commission for Architecture and the Built Environment (CABE) and most importantly, the local community.

It has always been the Group's development strategy to partner with a new investor, and we have already attracted significant interest from a range of prospective investors.

Construction on Phase 1 of the development is scheduled to commence in early 2012 with completion in 2016. The remaining phases, including the first ever privately funded extension to the tube network in Central London, are scheduled for completion thereafter.

Balance Sheet Restructuring: As announced on 24 December 2010, the Group's negotiations with its creditors regarding the terms of a financial restructuring are progressing well. Subject to approval from the various creditor groups, the detailed terms of the restructuring deal are as follows:

· Battersea Power Station would be transferred by REO to a new holding company. The demerger of Battersea Power Station is intended to facilitate the successful conclusion of the Group's global third party investment road show through which it is seeking to attract a long term equity partner into the demerged vehicle.

· The Group would effect debt for equity swaps with the holders of the 7.5% convertible unsecured loan stock ("CULS") and zero dividend preference shares ("ZDPs"). CULS holders would receive 21.2% of the equity in the new Battersea Power Station holding company and 15.9% of the enlarged equity of REO. ZDP holders would receive 12.1% of the equity in the new holding company and 9.1% of the enlarged equity of REO. In addition, CULS and ZDP holders would be issued with warrants representing 15.9% and 9.1% respectively of the initial issued share capital of the new holding company. Each warrant would entitle the holder to subscribe for one new ordinary share at an exercise price of 0.001p at any time for up to 15 years after the completion of the restructuring if the equity in the new holding company has a value in excess of £510 million.

· Ordinary shareholders (including Treasury Holdings) would receive 5% of the equity in the new holding company and warrants in respect of a further 5% and would, after the issue of ordinary shares to CULS and ZDP holders, retain 75% of the enlarged equity of REO.

· As an incentive to manage the development of Battersea Power Station, Treasury Holdings would be awarded a management fee representing 7.7% of the equity in the new holding company.

· The remaining equity in the new holding company, amounting to approximately 54%, would be retained by REO and its subsidiaries following the equitisation of various intercompany balances owed by companies in the Battersea Power Station group.

· REO would be released from various financial obligations relating to the Battersea Power Station group, including guarantees of senior facilities and the £150 million loan note issued to Oriental Property Limited.

· If the £150 million loan note and accrued interest is not repaid on 31 May 2011, Oriental Property Limited would, subject to certain exceptions, have the option to convert the debt into 75% of the equity in the new Battersea Power Station holding company. Shareholders in the new holding company would have the right to acquire that interest prior to 1 June 2012 for an amount equal to the sum due to Oriental Property Limited under the loan note together with interest.

NAMA: As previously indicated, the Group submitted a comprehensive business plan in May 2010 for NAMA's review. The initial evaluation process is now complete resulting in a signed Memorandum of Understanding, the terms of which are non-binding and intended to form the basis for further negotiations. NAMA will monitor the Group's subsequent performance to ensure that it adheres to targets contained in the Memorandum of Understanding and, subject to the further negotiations referred to above, binding facility agreements will be entered into.

Property Portfolio: The portfolio was last valued in August 2010, by Treasury Holdings, in their capacity as investment advisers, at a value of €1,050 million.

The Group continues to place a strong emphasis on proactive management of the portfolio and tenant monitoring, resulting in stable annualised income of €40.2million, during a period of rental value deflation. Continuing strong operational performance is underpinned by prime office and retail locations, together with the diversity represented by high quality tenants including Vodafone, Merrill Lynch, KPMG and Marks & Spencer, which account for over 63% of the portfolio based on rental income.

Despite current market conditions, portfolio occupancy remains at 95%, with only 4% of rent roll in arrears, and a rent weighted average lease length of 12 years.

The Group's only current development project (Montevetro, Dublin 4) is due for practical completion at the end of January 2011, with strong interest from the market in the building, while a prudent approach to the timing of its remaining development pipeline continues to be adopted.

Outlook:

The Board is encouraged by the significant progress made in recent months in respect of the planning permission granted for the Battersea Power Station project and the signing of the Memorandum of Understanding with NAMA on the Group's business plan, while negotiations towards a successful restructuring of the Group's balance sheet have reached an advanced stage.

While the Group's performance continues to be adversely impacted by continuing concerns about the underlying Irish economic performance, the recent agreement between the Irish Government and the IMF/EU should assist in stabilising the banking sector, thus enhancing capital adequacy and liquidity of the banks. There are also continuing signs that the commercial property market is stabilising1.

Based on the above, in conjunction with the Group's quality portfolio and strength of senior management, the Board remains confident that the Group is positioned to benefit from predicted stability and growth in the wider Irish and UK economies.
Posted at 29/11/2010 11:48 by comedy
dont twist it scotty boy...you sold reh first at a higher price...you then came on to say you had sold as you thought the p and d were about and share price would fall...knowing full well thayt some would then sell and the share price would fall so effectively you were deramping???

now my way is i buy and i have a sell price which i hope will be achived..aim is to keep free shares for long term recovery...if the share price falters or starts to fall may sell depending on stock...

but key point is if i then come on to say i'm selling as i think it is going to falter will that not effectively get people to start to sell and share price falls...and suddenly the stock becomes a buy again??? hence i dont post i'm selling as no one knows whats round the corner and the share price could go up or down??? but by posting your selling you have to be responsible for people selling at a loss...and when you buy as share price is now reasonable havent you effectively p and d?

o/t srb i sold at 3p...if i had posted sell at 3p..day or 2 later was over 4p??? and a list of other stocks where i ave made my profit and got my free shares... ps i was telling people to buy at high risk when 2p...now at 5p those peopl were up ???? and each perosn has to decide for themselves...i sold some as it wasnt crossing 6p...didnt get the highest point...just like now looking to buy back in but waiting to see where it settles..and will buy again.
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