check out the figures, page-6

  1. 14,217 Posts.
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    feeny


    I reckon the best way for GPT to create value for us shareholders would be to walk away from the JV should asset values drop 10%

    by walking away from the JV GPT will lose $2bn of equity

    the balance sheet for GPT would look like this

    assets $12 bn
    debt $5 bn
    equity $7bn

    a 10% asset writedown would look like this

    assets $10.8 bn
    debt $5 bn
    equity $5.8 bn

    NTA $2.63

    Gearing would be 46.2%

    If assets fall another 10% or $1.08 bn then do a capital raising

    Assets $9.7 bn
    Debt $5 bn
    Equity $4.7 bn

    NTA $2.14
    Gearing 51.5%

    the banks might allow GPT to go over 1.5% the 50% covenant.

    If they don't then do a capital raising

    which would look like this

    assets $9.7bn
    Debt $2.8 bn
    Equity $6.9 bn

    the number of shares = 4.4bn

    NTA $1.57

    gearing 29%

    If you bought at $2 you'd be in at $1.50 after the 1 for 1 rights issue of a $1

    what you'd end up with then is a great REIT with a strong balance sheet and portfolio of fantastic assets such as australia square etc

    the rents would amount to $500 m

    which would be about .11 a share or 7%

    but it would be a 7% you could be sure you'd get.

    all the assets would have fallen by 20% by this stage

    you may then find a buyer for the whole company who would be prepared to pay a 20 percent premium or $1.88 per share

    anyway that is my dream!




 
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(20min delay)
Last
$5.08
Change
0.070(1.40%)
Mkt cap ! $9.731B
Open High Low Value Volume
$5.05 $5.10 $5.01 $26.29M 5.178M

Buyers (Bids)

No. Vol. Price($)
2 38506 $5.06
 

Sellers (Offers)

Price($) Vol. No.
$5.10 12301 2
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Last trade - 16.10pm 10/07/2025 (20 minute delay) ?
GPT (ASX) Chart
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