Author Topic: Attacq  (Read 8664 times)

franz

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Attacq
« on: October 04, 2013, 12:42:40 pm »
Any comments on this property share which is listing on the JSE on October 14?

jaDEB

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Re: Attacq
« Reply #1 on: October 04, 2013, 01:02:41 pm »
 :( Sorry do not know much, but the "other" site has a thread for it.

Also check out Moneyweb, the has a couple of interviews.

http://www.moneyweb.co.za/moneyweb-special-report/peter-armitage--founder-anchor-capital

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franz

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Re: Attacq
« Reply #2 on: October 04, 2013, 02:56:40 pm »
Thanks jaDEB

franz

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Re: Attacq
« Reply #3 on: October 04, 2013, 03:15:07 pm »
Very interesting interview indeed on Moneyweb it sure sparked my interest

Orca

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Re: Attacq
« Reply #4 on: October 04, 2013, 04:55:30 pm »
To me, the name in itself is appealing so I would buy it for that reason. Unlike Assore. Wouldn't dream of phoning my broker to buy that one. What will the people around me think?
I started here with nothing and still have most of it left.

jaDEB

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Re: Attacq
« Reply #5 on: October 07, 2013, 10:09:37 am »
Did not post all.

Audited summarised consolidated annual financial statements for the year ended 30 June 2013

Attacq Limited
(previously Atterbury Investment Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1997/000543/06)
JSE share code: ATT ISIN: ZAE000177218
("Attacq" or "the Company")

AUDITED SUMMARISED CONSOLIDATED ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED
30 JUNE 2013

Summarised Consolidated Statement of Financial Position

                                                               Audited       Audited
                                                               30 June       30 June
                                                                  2013          2012
                                                                 R'000         R'000
Assets
Non-current assets
Property, plant and equipment                                    5 666         2 367
Investment properties                                        9 495 681     8 497 139
  Per valuation                                              9 663 652     8 607 082
  Straight-line lease debtor                                 (167 971)     (109 943)
Straight-line lease debtor                                     167 971       109 943
Deferred initial lease expenditure                               4 504         4 351
Goodwill                                                             -        16 929
Investment in associates                                     1 145 246     1 156 943
Other investments                                               58 379       476 997
Deferred tax assets                                              8 103         4 194
Total non-current assets                                    10 885 550    10 268 863

Current assets
Inventories                                                    126 304        41 644
Taxation receivable                                              1 497           711
Trade and other receivables                                    155 497        81 351
Loans to shareholders                                                -         6 308
Loans to associates                                            487 142       621 652
Other financial assets                                          47 368       104 199
Cash and cash equivalents                                       44 389       200 501
Total current assets                                           862 197     1 056 366
Non-current assets classified as held for sale               1 601 642       262 122
Total assets                                                13 349 389    11 587 351

Equity and liabilities
Issued capital and share premium                             2 196 594     2 196 596
Distributable reserves                                       3 170 832     2 442 040
Equity-settled employee benefit reserve                          5 488             -
Foreign currency translation reserve                               159         (668)
Equity attributable to owners of the holding company         5 373 073     4 637 968
Non-controlling interest                                       355 831       395 348
Total equity                                                 5 728 904     5 033 316

Non-current liabilities
Long-term borrowings                                         3 872 731     3 640 378
Deferred tax liabilities                                       775 434       591 838
Other financial liabilities                                     70 944       127 331
Provision for liabilities relating to associates                71 355        58 202

                                                     

Provision for liabilities relating to other investments                                         -         9 049
Finance lease liabilities                                                                 624 358       440 148
Total non-current liabilities                                                           5 414 822     4 866 946

Current liabilities
Loans from associates                                                                           -         9 284
Other financial liabilities                                                               145 257       213 177
Finance lease liabilities                                                                   6 662       114 018
Tax payable                                                                                25 759         7 198
Trade and other payables                                                                  327 990       150 231
Provisions                                                                                  5 709             -
Current portion of long-term borrowings                                                 1 295 713     1 062 004
Total current liabilities                                                               1 807 090     1 555 912
Non-current liabilities directly associated with assets classified as held for sale       398 573       131 177
Total liabilities                                                                       7 620 485     6 554 035
Total equity and liabilities                                                           13 349 389    11 587 351

                                                                                           Cents          Cents
Net asset value per share                                                                  1 196          1 032
Net asset value per share excluding deferred tax                                           1 366          1 163

Summarised Consolidated Statement of Comprehensive Income
                                                                                          Audited       Audited
                                                                                          30 June       30 June
                                                                                             2013          2012
                                     R'000         R'000
Continuing operations
Gross rental income                                                                       628 532       639 856
  Rental income                                                                           543 279       603 577
  Straight-line lease income adjustments                                                   85 253        36 279
Property expenses                                                                       (212 362)     (241 288)
Net rental income                                                                         416 170       398 568
Other income                                                                              126 348        93 371
Operating and other expenses                                                            (288 060)   (2 999 593)
Operating profit / (loss)                                                                 254 458   (2 507 654)
Fair value adjustments                                                                    929 054       996 932
  Investment properties                                                                   854 817     1 020 769
  Other financial assets and liabilities                                                   57 137      (83 138)
  Other investments                                                                        17 100        59 301
Net income / (loss) from associates                                                        94 430      (43 208)
Investment income                                                                          48 345     2 791 701
Finance costs                                                                           (473 196)     (492 349)
Profit before taxation                                                                    853 091       745 422
Taxation                                                                                (202 601)     (185 041)
Profit for the year from continuing operations                                            650 490       560 381

Discontinued operations
Profit from discontinued operations net of taxation                                       108 788        24 436
Total comprehensive income for the year                                                   759 278       584 817
Attributable to:
  Owners of the company                                                                   728 792       559 003
  Non-controlling interests                                                                30 486        25 814

Earnings per share
From continuing and discontinued operations
  Basic (cents)                                                                             162.2         118.1
  Diluted (cents)                                                                           162.0         118.0
From continuing operations
  Basic (cents)                                                                             138.0         112.9
  Diluted (cents)
                                                                          137.8         112.9
Reconciliation between earnings, headline earnings and distributable earnings
Profit for the year                                                                       728 792       559 003
Headline earnings adjustments (net of tax and non-controlling interest)                 (776 393)     (493 663)
  Loss on disposal of associates                                                                -        16 879
  Profit on disposal of other investment                                                 (40 080)         (401)
  Profit on sale of subsidiaries                                                         (10 240)             -
  Reversal of impairment of loans                                                        (17 610)       (8 941)
  Profit on disposal of investment property                                               (9 587)             -
  Impairment of associates and other investments                                           69 190             -
  Impairment of goodwill                                                                   16 929       147 366
  Loans impaired                                                                           32 836             -
  Fair value adjustments                                                                (728 914)     (683 708)
  Net (income) / loss from associates                                                    (88 917)        35 142

Headline (loss) / earnings                                                               (47 601)        65 340
Distributable (loss) / earnings adjustments (net of tax and non-controlling interest)    (10 709)        31 207
  Straight-line lease income adjustments                                                 (54 529)      (26 108)
  Finance lease interest                                                                   44 366        57 362
  Actual lease payments                                                                     (546)          (47)

Distributable (loss) / earnings                                                          (58 310)        96 547
Number of shares in issue                                                             449 406 150   449 406 150
Weighted average number of shares in issue                                            449 406 150   473 372 528
Weighted average number of shares in issue for purposes of diluted earnings           449 861 909   473 627 148

Headline (loss) / earnings per share
  Basic and diluted (cents)                                                                (10.6)          13.8

jaDEB

I'll see you on the dark side of the moon. The lunatic is in my head.

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Moneypenny

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Re: Attacq
« Reply #6 on: October 07, 2013, 02:58:55 pm »
To me, the name in itself is appealing so I would buy it for that reason. Unlike Assore. Wouldn't dream of phoning my broker to buy that one. What will the people around me think?

 :D Yeah well
Veni, vidi, vici

yossarian

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Re: Attacq
« Reply #7 on: October 07, 2013, 05:36:09 pm »
Tip: if you surround your post with [code] and [/code] tags then numbers line up a bit better:

Code: [Select]
....
Assets
Non-current assets
Property, plant and equipment                                    5 666         2 367
Investment properties                                        9 495 681     8 497 139
  Per valuation                                              9 663 652     8 607 082
  Straight-line lease debtor                                 (167 971)     (109 943)
Straight-line lease debtor                                     167 971       109 943
Deferred initial lease expenditure                               4 504         4 351
Goodwill                                                             -        16 929

jaDEB

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Re: Attacq
« Reply #8 on: October 07, 2013, 06:03:48 pm »
Thanks ..  :)
jaDEB

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Pink Floyd

Luna

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Re: Attacq
« Reply #9 on: October 08, 2013, 11:10:45 am »
I've met some of the management team including Louis v.d. Watt, in my opinion this company and management is Rock solid. If anyone is interested in investing in companies with good management, I would recommend this company. I've been looking forward to the day when they list on the JSE.

jaDEB

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Re: Attacq
« Reply #10 on: October 08, 2013, 11:37:59 am »
Did any1 apply for pre listing ?

Offer opens 09h00 Monday 07 Oct 2013, closes 12h00 Wednesday 09 Oct 2013
jaDEB

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franz

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Re: Attacq
« Reply #11 on: October 08, 2013, 03:27:59 pm »
Interesting new article on moneyweb regarding pre-listing

carfan

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Re: Attacq
« Reply #12 on: October 08, 2013, 03:32:33 pm »
I believe they have closed the private placement already (this morning some time) due to the level of interest they received. Also adjusted the price to R14.50 rather than R15.

Moonraker

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Re: Attacq
« Reply #13 on: October 08, 2013, 03:39:10 pm »
Seems OK, a growth stock paying practically no dividends at all for the first 5 years or so. Basically a long term hold for folks with a 10 year
outlook. Has Rand Hedge qualities which I like (being a ZA and Rand pessimist/bear).
Also I am too old to wait 10 years ..  ;)

The Rand Hedge element ( from Moneyweb )..

Quote
Sirius Real Esate (London listed under code SRE.LN)

One of the reasons many analysts are getting excited about the coming listing of Attacq (formerly Atterbury Investment Holdings) is its international assets. Through the Karoo Investment Fund, it has a 25% interest in German flexible property company Sirius Real Estate.

ClucasGray is however not waiting to access this opportunity through Attacq. It has bought into Sirius directly.

“What really interested us in this business is that after Atterbury bought its 25% it blocked two attempted liquidations by US asset manager Weiss,” Hubbard says. “Because Sirius is trading at about a 50% discount to NAV, Weiss wanted to sell of the assets to realise a profit.

“But Atterbury saw more value in building the business long-term. It spent a lot of money getting rid of the old management company and there has been a big clean up in the business.”

With the counter trading at such a big discount, Hubbard believes Atterbury's intervention will have two big positives in the near future.

“Within two years it could be trading at NAV or even at a premium to NAV like Atterbury's other international vehicle MAS. On top of that, it should soon be able to pay a dividend and we could be looking at a yield just shy of 10% in Euros in the next year or so.”

jaDEB

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Re: Attacq
« Reply #14 on: October 14, 2013, 12:21:52 pm »
I did not buy, did any of you other forumers buy?
jaDEB

I'll see you on the dark side of the moon. The lunatic is in my head.

Pink Floyd