BeaglePup
21 Dec 2015
Re: RNS Re. Placing I agree that the warrants are reasonably priced viz. performance, and the dividend cut was always on the cards really, but the announcement does mean progressive dilution, to a degree. I'm more concerned about the possibly cheap sale of a large percentage of a key asset.Nevertheless, I'm inclined to a long Term Hold, in view of the warrant prices and the accumulating dividendsCheers
JohnOfYork
21 Dec 2015
RNS Re. Placing There has obviously been an almighty falling out in the board which is never good. Dividend halved. The only good points are that the warrants are convertible at a good premium to the current share price. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, INTO OR WITHIN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN THE UNITED KINGDOM) OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION OR TO US PERSONS.21 December 2015GLI Finance Limited (the "Company" or "GLIF"
Further re Placing and Open Offer of 2020 ZDP Shares and Extraordinary General MeetingBoard ChangesFirm Placing and Indicative ProposalsFurther to the announcement on 3 December 2015, and in light of feedback received as part of the marketing of the 2020 ZDP Shares to investors, the Board of GLIF announces that it has decided to cancel the Placing and Open Offer of 2020 ZDP Shares.The Board will not be progressing the issue of the CULS which had been considered as part of the capital raising exercise announced on 3 December 2015.Geoff Miller, CEO of the Company, has resigned with immediate effect. Andy Whelan, Executive Director of the Company, will take the role as the Company's Interim CEO pending the appointment of a permanent replacement for Mr Miller. Mr Whelan is also CEO and a founder shareholder of Sancus and is well-acquainted with GLIF's other platform investments.The Board has considered its overall strategy and would like to (i) provide greater clarity over its approach to maximising value from GLIF's 19 platform investments; and (ii) set out a clear policy for the Company's future dividend payments.In addition, the Board announces that it intends to enter into a strategic relationship with Golf Investments Limited, a member of the Somerston group of companies ("Somerston", which the Board believes will reduce the Company's overall cost of capital by both helping to accelerate the growth of GLI Asset Management Limited ("GLIAM" and GLI Alternative Finance plc ("GLIAF" whilst repaying the outstanding Sancus Loan Facility.Update on Strategy to Maximise Value of Platform Portfolio The Board believes that the Company has an attractive and unique portfolio of platform companies, a number of which are growing very rapidly and are conservatively valued. This portfolio is expected to bring significant long-term capital gains to shareholders. Taking into account the capital available to the Company, the Board believes that the focus of the business should be on supporting and developing those platforms with the greatest potential in the context of generating incremental shareholder value. Whilst the Board does not rule out future acquisitions in exceptional circumstances, the strategy going forward will be to maximise the value of the existing portfolio and the Board will carry out a detailed strategic review of the platform portfolio in 2016. Update on Dividend Policy The Board is aware that a number of investors in the Company have been attracted by its dividend. The structure of the Company and its focus on double digit returns on capital are such that dividends are a natural by-product of the underlying portfolio of assets. Nevertheless the Board believes that the dividend should be set at a level which provides sufficient flexibility to ensure that the Company can also support its rapidly growing portfolio of platform assets. Therefore the Board expects, following implementation of the Proposals, to pay a dividend of not less than 2.5p per annum paid quarterly. The Board believes that this policy allows a progressive dividend from a solid base. Strategic Relationship with Somerston GLIF announces that it is at an advanced stage of negotiations with a view to entering into a strat
MRBIG
21 Dec 2015
wtf!
RichardLY
10 Dec 2015
Re: I love this RNS.... ...Today's makes more sense.
Toran
08 Dec 2015
I love this RNS.... ... because I have no clue what,if anything,it REALLY means.
Damp Seaweed
04 Dec 2015
Re: drop LG,In days of old, you would have fitted perfectly the role of old hag knitting at the gallows.ps Can you see a 'ghost spike' at noon on 26th Oct down to 21p ?? spooky
lambrini girl
04 Dec 2015
Re: drop SELL..target 21p..
VoxVoci
04 Dec 2015
Balance Sheet Strengthening I have held these for some time now and on an absolute return basis am now about break even.So what to do? Sell the lot, hang in there with full holding or keep a percentage?If Edison research are right I should be topping up.You can download there report here:[link] Edison did flag up the ZDP share issue in an extensive research note on Nov 11th which is here:[link] Edison know what they are talking about? If the do and the restructuring means the dividend becomes sustainable then the forward yield at today's price would be 14%Based the the capitulation in the price that has occurred today the market does not share Edisons evaluation.So who is right Mr Market or Edison?
Dingledangle
04 Dec 2015
Re: Proposed placing and new divi policy I sold half a few months ago, but he divs were the one thing keeping the sp up. I can see this dropping back to 25p level, in which case it might be worth a buy. A pity, but as they say on Dragon's Den...I'm out.
Damp Seaweed
03 Dec 2015
Proposed placing and new divi policy You may want to check out the latest RNS just released (16
0)It looks like delayed dilution and a rather disconcerting change in divi policy. It probably makes good LT business sense, but I doubt it will go down well with income seekers.Personally I'm relieved to have sold up, but I'll continue to watch this company with a view to re entry when I can see the green shoots.
petethenovice
03 Dec 2015
Re: drop Thanks for the info I read some of it but my main interest is in the yield so I will hold for now, in the hope that it stays near the present level.
Damp Seaweed
03 Dec 2015
Re: drop Anyone any idea why this keep losing value .=========Probably because investors are becoming impatient with the 'jam tomorrow' promises.If you download the Edison research report that is on the company website is a worthwhile read.Here is a quick link[link] I've lost patience and sold up......at a loss
petethenovice
03 Dec 2015
drop Anyone any idea why this keep losing value .
VoxVoci
27 Nov 2015
Re: RNS - net assets Currently trading at around 13% discount to nav.
jonwig1
26 Nov 2015
Re: RNS - net assets The platforms are valued at the lower of cost and current value, so this aspect won't have changed. So if you add back the 2.5p of dividends between 30/06 and 30/09, there will be a net increase in NAV, which will be cashfloows from platforms, I would think.
