Hello Share Blasters. Today’s penny share for you to consider is a land trust company. It’s called Hammerson (HMSO) and it’s doing rather well. It owns assets worth £4.7 billion. And it has them in 17 of the fastest growing cities in the UK, France and Ireland.
When I last looked at fully-listed Hammerson (HMSO) last September, it had just raised money to, in effect, start again. But since then Bonkers Boris has locked the country up for a second and third time and as such there was simply no attraction for me to this property (lack of) income play.
When, on August 11th I looked at the rescue rights issue for fully-listed Hammerson (HMSO) and the terms, I concluded it was a slam dunk sell. At the time, the shares were (in consolidated terms) 264.9p with a mother-load of rights offer confetti to come at just 15p. The official ex-rights price calculation was 25.59p: now the stock is languishing at just 16.6p. A glass of Ouzo for me, then.
I sit and marvel at the share price of fully listed Hammerson (HMSO) which has announced a share consolidation and a rights issue. Have I got this right – if so, surely it is a slam-dunk sell! Answers on a postcard......








