announcements, page-10

pravda... don't stress with the divi's.... pretty sure the 0.5 is more or less a nice lil bonus 'cos of flicking 3145 Central.


We as holders will ALSO get a proper divi in FY14 just because of rental returns... our slice of the MIX operating profit. That should be up over 1.5 cents per unit per year.
I would hope closer to 2 cents as B grade rents improve over 12 months and costs are trimmed (see hoo-hah in presso today). Regular divi subject to world war / GFC 2 / and not much else.

REIT's are obliged to pay the bulk of the profit to shareholders.... by law.... unless in severe financial distress.... or if the REIT is looking to buy more property with shareholder approval.

MIX are not looking to buy more property... and they are out of the woods... so the rent money comes to us as holders...!!!!

As it should have been.... had not GFC hit... and property values imploded.... and risk exploded.

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We will get more bonus's hopefully as they flick the other 4 "roughies" on the list.

Nothing set in stone.... but look at the ratio...

3145 South Central had a list value of 2.6 million which seemingly gets us 0.5 cent special divi

0.5 times 350,000,000 MIX shares... is approx $1.75 million... so very rough... we might HOPE for approx one third book value returned as "Special divi"... while rest of cash pays down cost of sale and other MIX mortgage.... fair to us all.

So have a gander at the chopping block... it's sweet.


PROPERTY 1
308 South Division St
Book value... $22.5 million
Our cut if sold... $7.5 million
Earning per share... 2.15 cents

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PROPERTY 2
900 East 103rd
Book value... $6.0 million
Our cut if sold... $2 million
Earning per share... 0.006 cents

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PROPERTY 3
4507 Columbia
Book value... $4.6 millio
Our cut if sold... $1.5 million
Earning per share... 0.0043 cents

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PROPERTY 4
4531 Columbia
Book value... $4.0 million
Our cut if sold... $1.5 million
Earning per share... 0.040cents

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Conservative enough???!

The rest of the dough does not disappear... just MIX holds some back to trim the debt/NTA ratio to make it look tidy for a buyer.

Yeah... we get a bit less rent money... but MIX said that these are the more yuck ones anyway... so flick'em and get the cash back to us Muppet's! Less risk.

I am stoked

DXS story etc are chasing this kind of stuff and DXS was paid over NTA for a nice clump in the middle of the 2012 woes.... MIX can bargain much better now.

jtaylor... don't forget to add a takeover premium for the rental income that is expected.... money hasn't even started to hit the equities market.... we are in for a heck of a year.

There is almost no issue with tenants... have a look at the top 10... solid companies.... window dressing... loctite... mail sorting... shipping... warehouse...

With that tenant base.... the finance renewal is almost a given.

I am praying for the OZ$ to drop back to 90 cents.... then the likes of DXS crew can beg for the MIX portfolio. Will be cheering. Maybe more like nudging towards 30 cents in the not too distant future..... All stars aligning.

If the B-grade class of property moves up in value
like MIX is hoping.... very very bullish times here at MIX.

Will take time... but so did the real move from 3.5 cents to 14.5 cents..... massive. It will happen.

One click at a time.


bsh