Akis1999
02 Nov 2017
Re: Views anyone? Well, it seems I was wrong in my estimation , if you had bought yesterday towards the close, you'd be approximately 29p better off today.
Richygm
01 Nov 2017
Re: Views anyone? I intend to keep clear for the time being. First of all, we don't know what the market/brokers will do with the discount. It may take a while to settle down. And, secondly, I for one, am still not clear what the new management intend to do with the company. They say there are no good investing opportunities at the present time and, depending on how long they take to find something worth investing in, the sp could drift until they do.
Stepenwolf
01 Nov 2017
Re: Views anyone? Is it a good idea to NOT reinvest immediately but wait a few days before buying back ?
Richygm
01 Nov 2017
Re: Views anyone? I sold last Friday, so as not to have an even bigger tax bill than I have already. I may buy back in into an ISA, depending on what happens going forward.
Akis1999
01 Nov 2017
Re: Views anyone? Shares are being sold on the historical precedent that tomorrow they will go down by more than the dividend and will continue to go down until some next announcement which could be months away.
Richygm
24 Oct 2017
Views anyone? So, going from memory, another special dividend of £9.14 per share, leaving a NAV of £11.14? Which, if the sp falls by the dividend, will leave the sp at a discount of about 34%? Have I got that right? More tax for me to pay, unfortunately, but a good deal, no doubt , if you are in an IDSA.
Akis1999
12 Oct 2017
Re: Finished? I think, as it stands ELTA is a good opportunity. The businesses they still owe are valuations, just, and not until sold will we know the P/L and then one has to wonder how bad this valuation may be to eat away the NAV discount ? I think this is a gem but Mr Market seems to have his own opinion and we never argue with Mr Market.
holland44
11 Oct 2017
Re: Finished? Numis (as reported by Trustnet today) takes the following view: 'after a series of realisations, there are now a relatively small number of investments remaining in the portfolio – with around half of assets now being cash.“The board began the second phase of its strategic review in June and anticipates announcing the findings in Q4 2017. In our view, the likely outcome is a managed winddown and return of cash (Sherborne, the largest shareholder, has a policy to return capital on divestments to its own investors),” Numis said.“The share price has been weak since the change in management and the current price of 1,670p represents a discount to estimated NAV of 17.1 per cent, although this rises to 34.3 per cent netting off the cash on the balance sheet. In our view, this offers value even though there are clearly question marks over the valuation of the remaining portfolio.”Electra Private Equity has ongoing charges of 0.51 per cent, which increases to 1.20 per cent when its performance fee is included. It is not geared.'
Akis1999
10 Oct 2017
Re: Finished? There is so little known of this company that "us real investors" are in the blind. We have no idea what's been happening and we cannot call it an "opportunity". We can always call investor relations maybe they are forthcoming with some information but I doubt they'd say anything over what's on the website already, and there is nothing on the website. How can you elaborate on "nothing" ?
The Dutchman
09 Oct 2017
Re: Finished? Oh.... I see that I missed the further 900p per share paid in July, so by my calculations NAV is Circa £20, still a pretty good discount but not spectacular. It's about time this lot - new management - updated us real investors.
The Dutchman
09 Oct 2017
Re: Finished? In June they published a pro-forma balance sheet ( see RNS announcements about that time) which reflected all asset sales and the last large special dividend. This showed NAV per share of some £29 and split this between the approx 10 large investments they still hold. Does anyone know if this position still holds? If so £29 vs SP of £16/17 seems a bargain, but have I missed something? They also said they were going to update the market with the results of their latest strategic review in the 3rd quarter, which of course we are now in.
Akis1999
05 Oct 2017
Re: Finished? The company has made no announcements since Srping I think, all we have is the position/assets as of March or something. No one knows what's going on, and it could very well "be steady as she goes" however complete silence has been harming the share price. There were some good director deals back in early summer I think, and that's the only noteworthy news I could find.Is "no news" good news?
Richygm
03 Oct 2017
Finished? I hope I'm wrong, but I have a feeling this company is finished as a good investment.
Bricklayer
24 Jul 2017
Re: Discount 69.5% Just over half of those assets are cash, lets hope they have a good plan for it, but in mean time the Discount seems a bit high, but managment want to look good under their control so a period of a low share price gives them plenty of scope to make a good return to claim the credit for. Just eliminating the discount equals £3Peter
Stepenwolf
24 Jul 2017
Re: Discount 69.5% Hi RichygmThanks for the insight - even Trustnet still showing 69.5% discount. Even a -16% discount seems reasonable even if they do keep selling off the assets.
