Anyone have an opinion where this one is heading ?

[scandal]

Hi, Anyone know care to share some insight on the direction they expect this baby to take and why?

[#2]

Not sure, but check out this Sens. Share Code: MDN ISIN: ZAE000080560 ("Madison" or "the company") CAUTIONARY ANNOUNCEMENT Unitholders are advised that the company is considering a proposal which, if implemented, will result in the merger of ApexHi Properties Limited, Hyprop Investments Limited, Madison and Redefine Income Fund Limited. Accordingly unitholders are advised to exercise caution when trading in the company's securities until a further announcement is made. Johannesburg 26 March 2008

[scandal]

A merger of some big property funds? would that be good for us the share holders?

[mbk]

towards the sky

[scandal]

RDF is not the smallest by market cap in the group. They are the second largest in the group. However their share price is second lowest. Does this present an opportunity to share holders?

[barry_1]

it could,i hold all except Hyprop.see further my my comments under EMI and MDN in share discussion.

[JohnnyCash]

Gosh, u are taken number of shares into account, right???

[scandal]

nah just looked through menyweb, not sure how they do their calculations though. think i will hold my ssf and see.

[barry_1]

yep....Apexhi and Redefine have always been my favourites as they pay interest income quarterly....i suppose when amalgamated it will revert to half yearly....oh well cant win them all!....the main object is for market capital to go above R20 billion,then they will appear on European index list and then their index fund mutuals overseas will be forced to buy them,then pushing up their price....i rekon that the market cap will be above R25billion and they would have the largest market cap of the REITS in the real estate section of the JSE....only LBT which is based on the FTSE has a larger market cap.

[JohnnyCash]

Barry, sorry I was referring to scandals comment of RDF's second lowest price but much higher market cap comment? Due to number of shares its all relative so u not going to do better just because the prices is "second lowest"...

[scandal]

thanks Barry, good info right there. Also hold RDF and APA. Lets see if this merger takes off.

[scandal]

By the way for those not in APA has the lowest PE ratio and has the highest div yield. PE=4.2 Div Y=9.5 me thinks this is a great opportunity if the merger goes through.