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Post by queenvictoria on Dec 6, 2018 10:54:34 GMT
The first batch of valuations is in. As expected there is a large discount for the 4 week valuation - about 25% for my properties. I will take the hit and escape. Three of my five are back; the average discount is 19% (value vs 4 week value) and the capital loss on the three (ignoring dividends paid) is 17% meaning the valuation to hold is slightly in credit. I was expecting worse, I must say.
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benaj
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Post by benaj on Dec 6, 2018 11:00:54 GMT
The first batch of valuations is in. As expected there is a large discount for the 4 week valuation - about 25% for my properties. I will take the hit and escape. Three of my five are back; the average discount is 19% (value vs 4 week value) and the capital loss on the three (ignoring dividends paid) is 17% meaning the valuation to hold is slightly in credit. I was expecting worse, I must say. Hi, are these valuations targeted to VIPs? I haven't seen anything yet? Do you mind telling us how did you receive the first batch?
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Post by queenvictoria on Dec 6, 2018 11:17:49 GMT
Three of my five are back; the average discount is 19% (value vs 4 week value) and the capital loss on the three (ignoring dividends paid) is 17% meaning the valuation to hold is slightly in credit. I was expecting worse, I must say. Hi, are these valuations targeted to VIPs? I haven't seen anything yet? Do you mind telling us how did you receive the first batch? Mine came this morning (9.44am) by email. It provides a personalised link which gives the info. Not all valuations are in so maybe yours aren't. The ones of mine that are in are SPV 14,15 and 23
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benaj
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Post by benaj on Dec 6, 2018 11:23:50 GMT
I see, thanks. I just have to wait
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littleoldlady
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Post by littleoldlady on Dec 6, 2018 11:40:46 GMT
The first batch of valuations is in. As expected there is a large discount for the 4 week valuation - about 25% for my properties. I will take the hit and escape. Three of my five are back; the average discount is 19% (value vs 4 week value) and the capital loss on the three (ignoring dividends paid) is 17% meaning the valuation to hold is slightly in credit. I was expecting worse, I must say. Yes I was wondering what a valuer would make of a request to provide a 4 week valuation, which IMO is absurd. it looks like they have taken a pragmatic approach because I strongly doubt that it is really possible to sell a property in that time frame at any price. Are you accepting, or staying with PM?
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ilmoro
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Post by ilmoro on Dec 6, 2018 12:01:45 GMT
Nothing for me so I assume none of my properties were included.
Does the information provided give just the 4 week valuation or does it give the SPV value? The SPV value is the net of valuation +cash held-costs-tax so will be potentially lower than the actual valuation. Have they also provided a full market value as per the original vote info?
Incidentally I note I now hold shares in UKDP in lieu of PMF74. Was there an email detailing the transfer had occurred? No indication that I can switch my vote from retain to cash out or vicer versa (no idea how I voted), though might not have been an option on the loan note.
4 weeks is standard for portfolio liquidation/quick sale so I expect valuers are used to such requests
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ilmoro
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Post by ilmoro on Dec 6, 2018 12:26:45 GMT
Typical. Just emailed support with a few suggestions/queries, switched back to inbox and my valuation email had appeared while I was typing.
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littleoldlady
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Post by littleoldlady on Dec 6, 2018 12:30:42 GMT
Nothing for me so I assume none of my properties were included.
Does the information provided give just the 4 week valuation or does it give the SPV value? The SPV value is the net of valuation +cash held-costs-tax so will be potentially lower than the actual valuation. Have they also provided a full market value as per the original vote info?
Incidentally I note I now hold shares in UKDP in lieu of PMF74. Was there an email detailing the transfer had occurred? No indication that I can switch my vote from retain to cash out or vicer versa (no idea how I voted), though might not have been an option on the loan note.
4 weeks is standard for portfolio liquidation/quick sale so I expect valuers are used to such requests
I'm hoping it's OK to copy and pasted the pro-forma data for SPV 6 here because the valuation is not in yet so it only shows what information will be supplied. If it's not OK would a mod please move it. Sorry it lost the formatting during copying. If you like I can do a screenshot. PM SPV 6 - Fully funded 09/05/2015 Valuation Status Pending Original amount invested £1,000.00 SPV shares held 2 Original purchase price £125,000.00 Total shares issued in UKDPP 0 Original fund amount £182,000.00 Projected gross property yield for UKDPP % Transfer valuations (exit valuation for Option 2) Open market valuations (OMV) (valuations relevant to UKDPP and Option 1 investors) 4-week property valuation £0.00 Open market property valuation £0.00 Cash held by SPV £0.00 Cash held by SPV £0.00 Outstanding liabilities £0.00 Outstanding liabilities £0.00 Final SPV value £0.00 Final SPV value £0.00 Value per share offered £0.00 Value per share at OMV £0.00 Total transfer value of your shares held £0.00 The total open market value of your shares held £0.00 Total dividends paid by SPV £0.00 Total dividends paid by SPV £0.00 Total value per share over period £0.00 Total value per share over period (OMV) £0.00 Original share price £500.00 Original share price £500.00 Total gain/loss on 4-week value 0.00% Total gain/loss on open market value 0.00% Option 2 Voters Option 1 Voters
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benaj
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Post by benaj on Dec 6, 2018 12:34:17 GMT
Nothing for me so I assume none of my properties were included.
Does the information provided give just the 4 week valuation or does it give the SPV value? The SPV value is the net of valuation +cash held-costs-tax so will be potentially lower than the actual valuation. Have they also provided a full market value as per the original vote info?
Incidentally I note I now hold shares in UKDP in lieu of PMF74. Was there an email detailing the transfer had occurred? No indication that I can switch my vote from retain to cash out or vicer versa (no idea how I voted), though might not have been an option on the loan note.
4 weeks is standard for portfolio liquidation/quick sale so I expect valuers are used to such requests
Regarding PMF 74, there was an email dated 20 Jul about the votes. I can’t remembered my votes either.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Dec 6, 2018 12:47:47 GMT
littleoldlady thanks, looks like you crossed with me getting my valuations.
Loss across portfolio would be 10% but Im staying.
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adrianc
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Post by adrianc on Dec 6, 2018 15:16:20 GMT
So I'm getting an exit offer of just over 88%, a Remoaner OMV of just over 109%, with a Projected Gross Yield of 11.32% so far. Four SPVs are in, two are pending.
Three of the four OMVs are +19-20%, one is +16-odd. Four-week values (by which, let's be honest, they mean "auction") are +1.5% to -4.5%. Projected gross yields range from +8.7% to +18.7%
I am pleasantly surprised.
Let's see what the other two come in at. I'm not holding out any hopes at all for one of them - I don't think it's ever paid a single penny of rent... Setting fire to it for the insurance money may be the best exit route.
Rather amusingly, Thunderbird is more sceptical - it's adamant that the email is a complete and utter scam and I really, really don't want to click the links.
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Post by kyle1873 on Dec 6, 2018 15:36:18 GMT
When I logged into property moose through the valuation email I received the following email.
Just a quick update on the transfer of your loan notes to UK Diversified Property plc as requested through your recent vote on the special offer. Depending on when you read this email, the transfer will either shortly be processed or will already have been made. The loan notes will no longer show in your Property Moose account (but the transfer won’t show on your statement in the accounts section) and you will see an investment certificate in your dashboard with UK Diversified Property which you can view in your “Investor Documents” section of their website. Thank you again for your continued support. Any questions, please get in touch.
Now I do not want this and was sure I didn't vote for it. Also I can find no way to change my vote between option 1 and 2 on the website. Anyone know how to do this? I've sent them an email as well.
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rs
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Post by rs on Dec 6, 2018 15:48:36 GMT
So I'm getting an exit offer of just over 88%, a Remoaner OMV of just over 109%, with a Projected Gross Yield of 11.32% so far. Four SPVs are in, two are pending.
Three of the four OMVs are +19-20%, one is +16-odd. Four-week values (by which, let's be honest, they mean "auction") are +1.5% to -4.5%. Projected gross yields range from +8.7% to +18.7%
I am pleasantly surprised.
Let's see what the other two come in at. I'm not holding out any hopes at all for one of them - I don't think it's ever paid a single penny of rent... Setting fire to it for the insurance money may be the best exit route.
Rather amusingly, Thunderbird is more sceptical - it's adamant that the email is a complete and utter scam and I really, really don't want to click the links.
If I was PM/UKDIP I would get the good news out first. Then after 2 weeks (during xmas period) get the bad news out. I'm in PM63, PM65 & PM70 so expect these (PM63, PM65 & PM70) to be much worse than what everyone if hearing now. I hope i'm wrong.
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ilmoro
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Post by ilmoro on Dec 6, 2018 15:49:19 GMT
When I logged into property moose through the valuation email I received the following email. Just a quick update on the transfer of your loan notes to UK Diversified Property plc as requested through your recent vote on the special offer. Depending on when you read this email, the transfer will either shortly be processed or will already have been made. The loan notes will no longer show in your Property Moose account (but the transfer won’t show on your statement in the accounts section) and you will see an investment certificate in your dashboard with UK Diversified Property which you can view in your “Investor Documents” section of their website. Thank you again for your continued support. Any questions, please get in touch. Now I do not want this and was sure I didn't vote for it. Also I can find no way to change my vote between option 1 and 2 on the website. Anyone know how to do this? I've sent them an email as well. Loan note votes (think only for loans to flip properties) were held around the sale time as the portfolio change vote. There were 3 emails sent out with details of the vote with the default being to convert & hold. There was no option to change your vote prior to the conversion as there was no valuation process. The loan note was worth capital plus interest plus 3% bonus and that was the conversion value (PMF74)
In the case of the property SPV you email them if you wish to swap your choice. Not sure if its all or nothing, unclear if you can elect to exit some properties and convert others.
Edit If you voted to exit loan notes, you still have to recieve the shares as the exit process was to buy back the shares when funds allow
receive capital and interest to 30 July 18, move to the PLC and return funds as quickly as possible when the PLC has sufficient cash balances to repay
The only way to get your cash straight away would have been a distressed sale of the property but that option was rejected
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ilmoro
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Post by ilmoro on Dec 6, 2018 15:53:51 GMT
So I'm getting an exit offer of just over 88%, a Remoaner OMV of just over 109%, with a Projected Gross Yield of 11.32% so far. Four SPVs are in, two are pending.
Three of the four OMVs are +19-20%, one is +16-odd. Four-week values (by which, let's be honest, they mean "auction") are +1.5% to -4.5%. Projected gross yields range from +8.7% to +18.7%
I am pleasantly surprised.
Let's see what the other two come in at. I'm not holding out any hopes at all for one of them - I don't think it's ever paid a single penny of rent... Setting fire to it for the insurance money may be the best exit route.
Rather amusingly, Thunderbird is more sceptical - it's adamant that the email is a complete and utter scam and I really, really don't want to click the links.
If I was PM/UKDIP I would get the good news out first. Then after 2 weeks (during xmas period) get the bad news out. I'm in PM63, PM65 & PM70 so expect these (PM63, PM65 & PM70) to be much worse than what everyone if hearing now. I hope i'm wrong. 63, 70 have had valuations, not actually too bad, -5/6% loss, 65 is pending.
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