Author Topic: ETR:PBY - Publity AG  (Read 14815 times)

Lakesider

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Re: ETR:PBY - Publity AG
« Reply #50 on: August 02, 2018, 09:54:04 PM »
My guess would be in line with 2017.

The CEO, Thomas Olek, has been buying up shares at end June early July. Any thoughts on the upcoming rights issue? Considering Mr Olek has committed to buying up any unsubscribed rights I think it could be a move to grab a large share of the company (tell me if I'm stupid).





 


petec

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Re: ETR:PBY - Publity AG
« Reply #51 on: August 03, 2018, 12:38:53 AM »
My guess would be in line with 2017.

The CEO, Thomas Olek, has been buying up shares at end June early July. Any thoughts on the upcoming rights issue? Considering Mr Olek has committed to buying up any unsubscribed rights I think it could be a move to grab a large share of the company (tell me if I'm stupid).


I've no idea but it says a lot that he is buying.

petec

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Re: ETR:PBY - Publity AG
« Reply #52 on: August 09, 2018, 05:57:32 AM »
Looking back over recent news releases I see:
- several building purchases
- two new mandates for a meaningful E500m
- a profit warning due to the same issue that held back profits in 2017 - lack of sales of buildings.
- an equity raise to "fund growth and strengthen equity", which may be related to the inability to sell.

Does anyone have an opinion on why they can't sell properties? It's not like the economy is weak.

1.1x book (where book is mainly co-investments) feels cheap.

Anyone know when they have to report 1H results by?
« Last Edit: August 09, 2018, 06:14:09 AM by petec »

Spekulatius

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Re: ETR:PBY - Publity AG
« Reply #53 on: August 09, 2018, 08:36:36 AM »
Publity used to make a signifanct part of their revenues from fond issues ( roughly 1/3) and gains from building sales (1/3), the remainder coming from asset management fees. Due to their current financial situation, they are locked out from issuing new finds, but I donít know why they canít sell some of their managed buildings either.

I think the latter point is the most concerning. Maybe the CEO ( Olek) wants to buy this up on the cheap? Itís at least a possibility. This company is not really transparent, even those who own stock and follow it for a long time scratch their heads. Goes into the too hard pile.
« Last Edit: August 09, 2018, 04:47:47 PM by Spekulatius »
To be a realist, one has to believe in miracles.

petec

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Re: ETR:PBY - Publity AG
« Reply #54 on: August 09, 2018, 09:23:24 AM »
True. But they get a lot of their fees, plus carry, on sale. So at some point this thing might report a huge year.

Lakesider

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Re: ETR:PBY - Publity AG
« Reply #55 on: August 09, 2018, 02:07:37 PM »
The debt issue still hasn't been solved. Convertible bond holders rejected the deal, who knows what they are thinking but they have the power, maybe someone has a shit load of CDS, we cant be sure.

Feeling a little reassured that CEO owns so much and wants more but my initial investment in this was a mistake, just walked right past all the red flags. I think at the current price its not a bad punt, I think you can use 2017 as a base for earnings. Once the debt issue is solved I will be alot happier.   


Lakesider

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Re: ETR:PBY - Publity AG
« Reply #56 on: September 03, 2018, 08:23:14 PM »

Lakesider

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Re: ETR:PBY - Publity AG
« Reply #57 on: September 12, 2018, 06:33:55 PM »
Ceo has stepped up the share buying recently. Multiple disclosures a week. He bought 1.6M Eurs worth of common on friday.

http://www.publity.org/de/investor/investor-relations/investor-news/directors-dealings/item/1185-dgap-dd-publity-ag-deutsch


Lakesider

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Re: ETR:PBY - Publity AG
« Reply #58 on: October 23, 2018, 01:36:07 PM »
Really interesting, the capital raise was a play for control of the company by the CEO at a low price. The price of the stock fell during the subscription period below offer, looks like very few people exercised the rights. CEO took up all the excess getting EUR32,000,000 worth and taking his ownership over 50%. CEO is still aggressively buying and price is up 50% from the lows.

Lakesider

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Re: ETR:PBY - Publity AG
« Reply #59 on: November 05, 2018, 12:42:45 PM »
Just looking for advise for this.

Looks like its going to get taken over completely by CEO, he's bought another 25% of the shares off market.

If this becomes an unconditional takeover is there anyway I can get screwed? I was looking to continue holding but just want to make sure its safe. Am I right thinking they have to offer the highest price that the party doing the takeover has paid in the last six months?

Any help appreciated. Thanks