They ran aground on the ATHEX PPA and OLTH

ΟΛΠ-ΟΛΘ: The ports show a clear weakness in the ATHEX board during the last months, with the PPA to be obliged yesterday at a low of twelve months and with the TPA to be… kilometers away from the high of the year of 29.10 euros.

And yet, we are talking about companies with excellent liquidity (positive net fund on 30/6/2021 at 65.1 million for PPA and 107.1 million for TPA), with Satisfactory dividend yield (especially for the Organization of Thessaloniki, where it exceeds 5.5%), but also with promising prospects, to the extent that in the coming years we will see Greek GDP rise and the investment programs of listed companies are implemented.

Other market participants attribute the mediocre course of the shares of the sector to the uncertainty it has on the course of the world economy due to the pandemic and the spike in fuel prices.

Others, however, believe that it is a result of the general stock market apnea of recent months, arguing that these stocks could recover significantly when the investment climate.

NIKAS BANKS: Banks lost money from the resale in Nikas of industrial facilities together with a plot of 59 acres?

Based on the recent announcement of Nika, the latter gave the amount of 15, 2 million euros to get back its factory in Agios Stefanos, which was financed with long-term loans, buying 100% of its shares Kefalari GDP .

This is a reversal of the transaction, between the same parties, that had taken place on 30/12/2016. At that time, Eurobank, Alpha Bank and Attica Bank established “Alpha Investment Property of Kefalari SA”. (GDP of Kefalari), in which they put, through AMK, 18 million euros.

With the 17 million euros, the GDP of Kefalari bought from Nikas the property and the factory of the meat industry in Agios Stefanos. Together with the transfer tax and other expenses, the cost amounted to 17.6 million euros. The amount that Nikas received then (17 million euros) was returned to the banks, through the repayment of an equal loan.

How is it possible that five years later the banks sold 2, 4 million euros below their cost, 2.2 million euros below the net position of GDP Capital in 2020 and 1.8 million euros below the fair value of the property, as valued by Alpha Urban Real Estate?

From 2017 to 2020, the GDP of Kefalari had collected a total of 1 million euros from rents . On December 30, 2020, the lease agreement of the property in Nikas was renewed for six months and the same happened on June 29 of this year. For the whole year he had income from the rent of 500 thousand euros.

PS: The accumulated unrecognized tax liability of Kefalari GDP amounts to 293.8 thousand euros, which corresponds to tax losses of 1.22 million euros.

MIG-SERBIA: After several years, the roads between MIG and its Serbian partner are separated shopping centers in the neighboring country, through Robne Kuće Beograd doo (RKB).

One of the topics of the extraordinary general meeting on 17 January 16.9% of RKB with three properties owned by it, with a total value of 20.5 million euros. The partner takes the real estate together with the corresponding loan of RKB and gives 16.9% of RKB to MIG.

The valuation of the real estate was carried out by the appraisal house American Appraisal.

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