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Workspace - Conversion to REIT means good yield prospects

May 2009

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • WKP
  • Price:
  • 15.5p
What has been evident in this recession has been some of the startling dilutive rights issues taking place in once mighty companies, which in normal times would have held their own. Take the case of former stockmarket darling Workspace (WKP; 15.5p), a property company which is a London / South-East market leader in providing workspace on flexible leases to  small and medium sized businesses.  In March, following a sharp fall in its property values, the company was forced to carry out a rights issue to raise £87.2m conducted on a 5-for-1 basis at just 10p. In other words, the new shares issued account for 83% of the entire share capital. Clearly if you were an existing shareholder at the time, you were diluted out of sig ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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