menfrommoyse
15 Dec 2017
LEDs out 125p at 2.12profit warnings (disguised or not) often come in threes
marconiman
15 Dec 2017
Price Fall "Shares in LED lighting products manufacturer and distributor Luceco PLC dived Friday after it said it would miss market expectations for profit in 2017 amid weaker margins that were not identified earlier due to an "incorrect assessment of the value" of its stock."[link] the Luceco plc share price close today at 145.0 pence per ordinary share, the estimated ESO plc fully diluted Net Asset Value will be 315.57 pence per ordinary share."[link]
lew mannheim
11 Sep 2017
Whittard growth prospects in China Should also have added that there is a very interesting article on Whittard's growth plans in the Times today.
lew mannheim
11 Sep 2017
New update I first posted here when the shares were around 110p around 2 1/2 years ago. Progress has been excellent. The latest update gives an NAV of 412.2p with £31.3m being in cash. Luceco, floated last year has produced very solid figures today and the other smaller unquoted holdings are doing well. The discount is still over 23% which is still IMHO way too big.
Krayl
25 May 2017
Re: NAV update I have recently come across this share and fortunately started buying before the recent news and jump in price. It is unbelievably undervalued but on the currently tiny trading volumes it doesn't look like catching up to the NAV anytime soon. Anyone any good at publicity? (I daren't say ramping)
lew mannheim
23 May 2017
NAV update NAV at end April stated at 436.9p. Shares trading at a 30% discount to what is mainly cash and an openly quoted share in the form of Luceco.£1 being offered for 70p with the expectation that the company is a natural buyer of any loose stock for the time being!!
menfrommoyse
12 Apr 2017
Re: Luceco update well, you were right! Just a lag before LUCE was recognised. Glad I held, sorry I did not top up.
lew mannheim
12 Apr 2017
Luceco update Luceco now at 229p. Discount to spot NAV still wide despite upward movement in EPE price over the last two days.
menfrommoyse
03 Apr 2017
Re: Luceco results Tend to agree, but the accounts are not 100% clear to meIf they own 24.3% LUCE, on todays market cap for LUCE that equates to ~£80M. If we subtract the loan notes of (round number) £8M that leaves £72M for LUCE alone. Market cap ESO less than this = bargin. However, they say LUVE and Whittard are 56.8 of GAV at 31/1. Taking LUCE SP at 31 Jan and then correcting for todays LUCE sp gives a much lower figure than £80M. So I'm confused. Until I can sort this cant be more than a weak buy for me (or since I own some, a hold).LUCE are priced to continue growing at the rate they are. We need to apply a liquidity discount since first they are in lock up and second when lock ups end there may be an overhang from other people keen to take profitsThen there is the macro issue of market valuation.
lew mannheim
03 Apr 2017
Luceco results Sparkling results from Luceco where EPE holds a short 25% of the company. EPE's NAV was 364p at 31/1 with Luceco at 178p. The maths look quite compelling with EPE at 246p this morning - discount to NAV is just far too wide!
menfrommoyse
22 Dec 2016
Share buy back I was relying on the performance getting noticed to close the d/c. However, it looks as if ESO will now start buying shares into treasury which might do the job, esp if the overall market holds.
menfrommoyse
22 Dec 2016
Re: Luceco sale Just noticed Luceco 194-190p today, so hopefully a nice bump up in Dec NAV for ESO. If there is a commensurate price rise ESO might well be in line for best performing IT of the year, and it will still be on a discount. Thanks Santa!Happy Christmas all ESO holders, and prosperous discount closing new year
lew mannheim
17 Oct 2016
Luceco sale Discount to NAV after the first day of Luceco trading is miles too wide. The best use of cash for the company is simply to buy back shares if possible.There is money here on the table just waiting to be picked up!!!!
menfrommoyse
17 Oct 2016
Re: Up 20% in a week interesting that as I write Luecco are at 150p. This, given the residual holging, gives further NAV uplift to c.330p for a discount of 30% in a co. with a great track record, albeit with concentrated rather than diversified holdings. Still a buy given conservative vals of unquoteds and buyback of 7.5% debt
lew mannheim
16 Sep 2016
Up 20% in a week Just traded at 184 - only about 2.5% short of the recent NAV update. Bid for SVG has certainly changed sentiment in the quoted private equity sector. Pause for breath now I think.
