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Aandeel UNIBAIL-RODAMCO-WESTFIELD PSE:URW.FR, FR0013326246

Laatste koers (eur) Verschil Volume
78,520   +0,960   (+1,24%) Dagrange 78,260 - 78,880 16.366   Gem. (3M) 271,4K

Unibail-Rodamco-Westfield - 2020

17.525 Posts
Pagina: «« 1 ... 761 762 763 764 765 ... 877 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 10 november 2020 07:51
    Aandeelhouders Unibail stemmen tegen claimemissie

    FONDS KOERS VERSCHIL VERSCHIL % BEURS
    UNIBAIL RODAMCO WFD nominatif adm
    42,76 0,00 0,00 % Euronext Paris
    Unibail-Rodamco SE & WFD Unibail-Rodamco
    42,76 0,00 0,00 % Euronext Amsterdam

    (ABM FN-Dow Jones) Aandeelhouders van Unibail-Rodamco-Westfield hebben tegen een claimemissie van 3,5 miljard euro gestemd. Dit maakte het vastgoedfonds in aanloop naar de aandeelhoudersvergadering later vandaag bekend.

    De benodigde tweederde meerderheid voor de emissie werd niet behaald. "We nemen hier notie van", zei CEO Christophe Cuvillier in een toelichting.

    Terwijl dat de aandeelhouders tegen de aandelenuitgifte stemden, gingen zij wel akkoord met de benoeming van Léon Bressler, Xavier Niel en Susane Gallardo als commissaris.

    Vanwege het coronavirus was aandeelhouders gevraagd vooraf al te stemmen. De vergadering vindt vanochtend plaats.

    Cuvillier herhaalde dat Unibail een moeilijke periode meemaakt, maar dat de aankondiging van een coronavaccin "enorm goed nieuws" is. Zo'n vaccin kan een positieve invloed op de retailsector hebben, denkt de topman.

    Toch benadrukte de CEO dat de schulden van Unibail hoog blijven. "We zullen alle mogelijke alternatieven moeten bekijken om de financiële structuur van de groep snel te versterken", aldus Cuvillier.

    Hoewel de claimemissie nu van tafel is, wil Unibail de andere onderdelen van het RESET-plan, zoals desinvesteringen en het verlagen van het dividend in contanten, wel gewoon doorzetten.

    De nieuwe commissarissen zullen in de komende dagen verwelkomd worden door Unibail.

    Tegenstand

    Er was veel weerstand tegen de plannen van Unibail, waarbij vooral de claimemissie van 3,5 miljard euro de woede van een groep aandeelhouders opwekte. Zij verzamelden zich in een consortium en riepen andere aandeelhouders op tegen de emissie te stemmen en de voordracht van 3 nieuwe commissarissen goed te keuren.

    Door: ABM Financial News.
    info@abmfn.nl
    Redactie: +31(0)20 26 28 999

    © Copyright ABM Financial News B.V. All rights reserved.
  2. [verwijderd] 10 november 2020 07:55
    Intu shares plunge after group abandons cash call
    Indebted UK shopping mall owner had tried to raise up to £1.5bn to bolster its finances

    March 4, 2020 9:59 am by Donato Paolo Mancini , Robert Smith , Daniel Thomas and George Hammond in London
    UK shopping centre owner Intu has abandoned a proposed cash call weeks after disclosing it and warned it may breach more debt covenants, prompting fresh doubts about its future.

    Shares in the indebted London-listed property group almost halved on Wednesday, hitting a record low and giving the company that had hoped to raise more than £1bn a market value of a little over £100m.

    “Following discussions with its shareholders and potential new investors regarding a possible equity raise of £1bn to £1.5bn, [the company] has concluded it is unable to proceed with an equity raise at this point,” Intu said in a trading update.


    The group, which is saddled with net debt of about £4.7bn, said it would consider other arrangements, including “alternative capital structures and asset disposals”.

    Intu has been approached by a number of private equity groups interested in either buying or becoming an equity partner in some of its stronger assets, such as the Trafford Centre near Manchester and Lakeside in Essex, according to one person briefed on the situation.

    However, the person added that the company was more likely to sell its smaller centres to generate cash, which could be used to support a slimmed down portfolio of better-placed malls. Intu has moved to dispose of a number of its assets for nearly £600m in the past year.

    The company is still hopeful of raising some new equity from existing and new shareholders, according to two people with knowledge of its plans, although much less than previously targeted. Any raising would take place alongside a wider reset of group debt facilities to prevent future breaches of covenants.

    However, the company said that while it was complying with its debt covenants, it could breach some of them at their scheduled testing date in July, as property valuations continued to fall.

    Chief executive Matthew Roberts denied the company was in crisis talks with investors. “There’s a real difference in the way our business is being valued and the operating performance of Intu. I am not in crisis mode,” he said.

    “If we collectively agree [with investors] that disposing of assets is the right thing to do, it will be an orderly disposal,” he said.

    Intu has been hit hard by the collapse of a series of retail tenants amid the slowdown in consumer spending in the UK.

    Recommended
    UK retail sales suffer longest contraction since records began
    Plans for a cash call were first disclosed in January, with the company saying last week that it would need at least £1.3bn. But difficulties soon emerged. Hong Kong-based Link Real Estate Investment Trust last month performed a U-turn on its plans to take part in the equity raise, sending Intu’s shares down by a third.

    The value of Intu’s bonds plunged on Wednesday, as investors grew more nervous about taking losses in a potential debt restructuring.

    Its £375m convertible bond plummeted by 25p in the pound to trade at less than half of its face value. While this debt is not secured on any of the group’s properties, it would rank ahead of the equity in an insolvency.

    Intu’s asset-backed debt was also hit, with its £485m MetroCentre bond falling more than 10p to trade at 79p in the pound. The declining value of the company’s shopping centre in Gateshead triggered a covenant on this bond — Intu’s largest — in January.

    The debt backing Intu’s shopping centres typically carries conditions linked to a “loan-to-value” ratio, which measures how much the property is worth versus the amount that has been borrowed against it. Declining valuations on its shopping centres lead to higher loan-to-value ratios, which in turn trigger covenants that allow lenders to impose new conditions or even take control of the asset if Intu does not stump up cash.

    “Intu is financially straitjacketed in a falling market. Nobody seems prepared to catch the falling knife,” said Mike Prew at Jefferies.

    He added that “this will send shockwaves through the real estate industry”. “Even if the company manages to continue for six months, this moves it closer and closer to the debt providers.”
  3. [verwijderd] 10 november 2020 08:03
    March 2020 (cont’d): Intu scrapped a £1.3 billion emergency cash call as not enough investors came forward to support the call. The company also had £4.5 billion of debt. It warned that it could collapse if it was unable to raise further funds, after reporting a loss of £2 billion for 2019. Intu shares had lost almost 90 per cent of their value in a year, and the results announcement prompted a 25 per cent drop to just over 4p.

    Intu Liberty International Sir Donald GordonIntu’s debt stood at £4.7 billion in 2020.
    March 2020 (cont’d): As the coronaviris crisis escalated and lockdown came into place towards the end of March, retailers delayed rent payments. Intu warned it would need some waivers from its lenders otherwise it was likely to breach its debt covenants in July. Intu also said it would cut service charge for its tenants by 22 per cent in the second half of 2020, in a bid to offer support to retailers amid the pandemic.

    April 2020: Intu said it was making preparations to take further action with tenants who don’t pay the rent and service charges they owe. Intu said it could lose some of its key retail assets as early as June, as bondholders drew up plans to take control of the assets.

    April 2020 (cont’d): Law firm Clifford Chance and investment bank Moelis & Company were appointed to advise bondholders of £1.3 billion of debt secured against some of Intu’s centres. Lakeside in Essex, Braehead in Glasgow, Watford in Hertfordshire and the Victoria Centre in Nottingham were at threat of being seized.

    May 2020: Intu hired David Hargrave as chief restructuring officer and non-executive director. Vodafone’s former head of HR James Saunders also came on board to join the newly-created role of chief people officer as part of Intu’s five-year strategy.

    May 2020 (cont’d): Intu sought standstill-based agreements with creditors as it struggled with the Covid-19 disruption and warned of covenant breaches at the end of June. Intu Metrocentre lenders were due to appoint advisers for talks over its future financial structure. Intu also drew up plans to begin the gradual reopening of non-essential retail stores at its 14 centres nationwide.

    June 2020: Intu warned that its shopping centres might close if financial restructuring talks with lenders failed, and lined up KPMG as administrators as a “contingency”. Intu said it expected the amount it collects from rents and service charges to tumble by £181.6 million in 2020. Intu’s administrator-in-waiting KPMG also sought a £12 million cash injection from bondholders as part of a potential insolvency process.

    June 26: Intu fell into administration after crunch talks with its lenders were unsuccessful. Its shares on the London Stock Exchange were suspended but Intu said its 17 shopping centres, which are held in separate operating companies, will continue to trade for the time being despite its insolvency.

  4. [verwijderd] 10 november 2020 08:19
    quote:

    Beursplein 5 schreef op 10 november 2020 08:13:

    De berichten over INTU zijn een waarschuwing over wat het grvolg kan zijn van het uitblijven van de emissie.
    Want de LTV is en blijft te hoog.

    Je vervuilt het forum. Jouw standpunt en negatieviteit is bij iedereen bekend. Stop ermee want het snijdt geen hout.
  5. [verwijderd] 10 november 2020 08:21
    Nov 10 (Reuters) - Shareholders of Unibail-Rodamco-Westfield have voted against a planned 3.5 billion euro ($4.15 billion) rights issue, the shopping mall owner said on Tuesday.
    This follows vehement opposition from a consortium led by French billionaire Xavier Niel and Leon Bressler, the firm's former CEO.
    Shareholders also approved three appointments to the supervisory board, put forward by the rebel consortium - namely Niel, Bressler and Catalan businesswoman Susana Gallardo.
    "We will have to review all possible alternatives to rapidly strengthen the Group's financial structure," said chief executive Christophe Cuvillier in a statement.
    He added that a possible first COVID-19 global vaccine could significantly help the sector and Unibail's own recovery plan. [nL1N2HV1MN]
    Retailers have been hit hard by the coronavirus pandemic, with many forced to close during government-enforced lockdowns. Mall owners have also had to help tenants with rent relief.
    Unibail, Europe's biggest property owner, announced the capital increase in September as part of broader restructuring plan, which includes selling off some 6 billion euros of assets. [nL8N2GE1ZQ]
    After the vote, Cuvillier said the group still planned to implement the plan's other components.
    The consortium had called the issue "completely unnecessary and highly destructive to shareholders" and argued that the firm should sell off its U.S. assets to focus on Europe.
    It blamed URW's 2017 acquisition of Westfield, which is mainly focused on the United States and Britain, for the group's heavy debt.
    Hitting back at the activists, URW has argued its plan was "the only credible response" for the long-term as it tries to protect its credit ratings.
    ($1 = 0.8432 euros)
    (Reporting by Sarah Morland in Gdansk, Editing by Sarah White, Keith Weir and Louise Heavens)
    ((sarah.morland@thomsonreuters.com; +48 58 769 65 92;))
    Keywords: UNIBAIL RODAMCO/AGM (UPDATE 1, PIX)
  6. [verwijderd] 10 november 2020 08:24
    quote:

    brandweerman113 schreef op 10 november 2020 07:38:

    Wow dat is nog eens goed nieuws zeg. Benieuwd wat het gaat worden de komende tijd, heerlijke vooruitzichten :-)) Ben blij dat ik ben blijven zitten tijdens het scheren zeg maar ;-)
    Straks zullen we de uitslag van de stemming kennen.

    Het belang van de derde musketier blijft nog steeds een geheim...

    Wat een stille kracht....
    Heeft haar kaarten nog steeds in de hand.

    Slechts kwestie van tijd voor Mr. Cuvillier opstapt... Over een uur speelt het Consortium rechtstreeks op de man...
    Gaan er losweg op inhaken...

    Veel bijgeleerd deze week, en blij dat ik het voorbeeld van MR. Bessler gevolgd ben.
    Bijgekocht met het geld dat ik gereserveerd had voor de claim...
    De groep rond het Consortium zal dat ook massaal gedaan hebben...

17.525 Posts
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