Treveria PLC Discussion Board http://www.iii.co.uk/investment/detail?code=cotn:TRV.L&display=discussion http://www.iii.co.uk/icons/logos/uk_logo.gif http://www.iii.co.uk tag:iii.co.uk,2003:tst.9666394 http://www.iii.co.uk/investment/detail?code=cotn:TRV.L&display=discussion&id=9666394&action=detail Mon, 21 May 2012 17:27:00 GMT iiTown tag:iii.co.uk,2003:tst.8547341
TIDMTRV

RNS Number : 5849K

Treveria PLC

18 July 2011

18 July 2011

Treveria plc ("Treveria" or the "Group")

Update on debt facility

Treveria plc (AIM: TRV), the German retail focused real estate investment company, announces that it has signed a standstill agreement with debt servicer Hatfield Phillips with regard to its EUR424 million Silo E securitised debt facility, which was due to mature on 15 July 2011.

The standstill agreement runs until the end of September 2011 in order to facilitate ongoing discussions regarding a longer-term extension to this loan.

Enquiries:

Treveria
Bernhard Fuhrmann +49 (0) 69 2475 31998
Financial Dynamics
Richard Sunderland / Laurence Jones +44 (0) 20 7831 3113
Singer Capital Markets Limited
James Maxwell / Nick Donovan +44 (0) 20 3205 7500

This information is provided by RNS

The company news service from the London Stock Exchange

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By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:TRV.L&display=discussion&id=8547341&action=detail Mon, 18 Jul 2011 12:40:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.7736308
The free assets are the cash of €49m+€13m debt free property+€31m of equity in the silo with only 50% mortgages. This is safe assets totalling €93m = €0.15 per share i.e. more than the current share price.

Then there is a further €214m of net equity in the other silos, which at over 80% loan to value are in breach of banking covenants. Most of these have been in breach since 2009.

We have been through some really bad times, commercial property prices got hammered as investors bailed out and forced funds to sell properties in a hurry. Since then the market has recovered and is on the up.

My take on this is that if they wanted to seize the properties and have a fire sale, the covenant breaches would have allowed the banks to do this a few years ago. Hence there is no reason why this should suddenly happen in July 2011 when debt is due to mature ? If you were the bank, your loan is performing, and your interest rate is probably higher than you could re-lend it to someone else in the current environment, the value of your security is rising ( as evidenced by recent sales) wouldn't you roll over the debt into a new longer term facility ? I would expect that Treveria will have to sell a few more properties in order to bring LTV down to 75% but that should be about it.

The equity in these properties is worth an extra €0.35 per share i.e. >250% upside to the current price.

I agree that there is still risk but the current price is backed by assets and I think the upside is well worth it.

I would expect any kind of good news about new bank facilities in the next few months to project this share upwards pretty swiftly.

T By texster ]]> http://www.iii.co.uk/investment/detail?code=cotn:TRV.L&display=discussion&id=7736308&action=detail Fri, 04 Feb 2011 16:29:00 GMT texster tag:iii.co.uk,2003:tst.7730131
Then there is the slightly less certain you're gonna get the money one that includes the above plus the mortgaged properties (on mortgages that run out soon and may not be renewed without dilution or destruction of the value there). And that one is 340m E.

Given investors aren't actually going to get their hands on the 102m E for a while even if everything goes right I think it's now a pretty fair price, no? By benjaminag ]]> http://www.iii.co.uk/investment/detail?code=cotn:TRV.L&display=discussion&id=7730131&action=detail Thu, 03 Feb 2011 21:10:00 GMT benjaminag tag:iii.co.uk,2003:tst.7727772
They have said that there is potential to add value from Silo J which currently has nil value and they said that the €40m provision for tax is to be released.

Properties sold in the period were 9% over book value so values aren't overstated.

According to this website, market cap is only €75m ?

If that is correct then this is way undervalued given that the Board is in the process of liquidating these assets and will distribute the cash in due course.

Share price should definitely rise from here.

T By texster ]]> http://www.iii.co.uk/investment/detail?code=cotn:TRV.L&display=discussion&id=7727772&action=detail Thu, 03 Feb 2011 14:31:00 GMT texster tag:iii.co.uk,2003:tst.7176209 http://www.iii.co.uk/investment/detail?code=cotn:TRV.L&display=discussion&id=7176209&action=detail Mon, 01 Nov 2010 17:03:00 GMT iiTown tag:iii.co.uk,2003:tst.6975622 http://www.iii.co.uk/investment/detail?code=cotn:TRV.L&display=discussion&id=6975622&action=detail Mon, 27 Sep 2010 08:54:00 GMT finance wizard tag:iii.co.uk,2003:tst.6846943 gla By geejay13 ]]> http://www.iii.co.uk/investment/detail?code=cotn:TRV.L&display=discussion&id=6846943&action=detail Thu, 02 Sep 2010 12:08:00 GMT geejay13 tag:iii.co.uk,2003:tst.6415280 http://www.iii.co.uk/investment/detail?code=cotn:TRV.L&display=discussion&id=6415280&action=detail Mon, 31 May 2010 18:58:00 GMT finance wizard tag:iii.co.uk,2003:tst.6290166 http://www.iii.co.uk/investment/detail?code=cotn:TRV.L&display=discussion&id=6290166&action=detail Wed, 05 May 2010 14:09:00 GMT Mrs Midus tag:iii.co.uk,2003:tst.6282208
But as I'm over 2 months late for your post I can see there aren't many of us!

By iiTown ]]> http://www.iii.co.uk/investment/detail?code=cotn:TRV.L&display=discussion&id=6282208&action=detail Mon, 03 May 2010 20:42:00 GMT iiTown tag:iii.co.uk,2003:tst.5991723
I am holding out for next announcement from TRV as I am keen to hold onto these as long as possible.

I can see the German property market is recovering , so this will help TRV wil their business and balance the books.

anyways , is there anyone else in this stock ? By Investor_Tester ]]> http://www.iii.co.uk/investment/detail?code=cotn:TRV.L&display=discussion&id=5991723&action=detail Wed, 24 Feb 2010 13:19:00 GMT Investor_Tester tag:iii.co.uk,2003:tst.5967846 http://www.iii.co.uk/investment/detail?code=cotn:TRV.L&display=discussion&id=5967846&action=detail Fri, 19 Feb 2010 10:29:00 GMT NorbertDentressangle tag:iii.co.uk,2003:tst.5798950 Normally the shareprice will fall by the amount of the divi post ex div date.Obviously with this share there are other factors influencing the shareprice. By TX2 ]]> http://www.iii.co.uk/investment/detail?code=cotn:TRV.L&display=discussion&id=5798950&action=detail Tue, 12 Jan 2010 22:17:00 GMT TX2 tag:iii.co.uk,2003:tst.5797677
Looking longer term here and hoping that the company a.) survives and b.) always pays a dividend. A 20% yearly dividend makes renders the SP irrelevant! By NorbertDentressangle ]]> http://www.iii.co.uk/investment/detail?code=cotn:TRV.L&display=discussion&id=5797677&action=detail Tue, 12 Jan 2010 16:15:00 GMT NorbertDentressangle