Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Nope, i’ve no idea at all and its unlikely ALM will make any comment. That said, that may not be a bad thing for once as may mean they are involved (here’s hoping), also I notice RB hasn’t said anything which I am at the moment taking as a positive as he’s normally vocal on major news impacting us....
I’m not quiet sure what this possibly all means...so if the fund gets taken over by a new management it’s not necessarily the case the shares will actually be sold by the trust ?
I wonder how this will affect the sale of Hawkeye ..if a major shareholder is in limbo it might delay things.
It’s all bloody annoying
I hope the shares are bought quickly to settle this otherwise the MM are going to have a field day in the coming weeks as they will with all the woody stocks. At the end of the day, ALM is now hugely oversold imo and the value remains regardless of the woodford fiasco, just need to ride it out for a little longer...
Late breaking Woodford Patient Capital Trust RNS
Tue, 15th Oct 2019 18:17
RNS Number : 9943P
Woodford Patient Capital Trust PLC
15 October 2019
Woodford Patient Capital Trust plc
Portfolio Manager
The Board of Woodford Patient Capital Trust plc (the "Company" or "WPCT") announces that, in light of recent events, Woodford Investment Management Limited ("WIM") has today served notice of termination in relation to its role as Portfolio Manager.
During its three-month notice period, WIM has committed to work collaboratively with the Board and its advisers throughout this transition period in order to protect the interests of shareholders.
The Board is in advanced discussions in relation to the ongoing management of the Company's portfolio and expects to be in a position to announce details of the new management arrangements shortly
Wasn't aware that Woodford had been sacked from Woodford Investment Management that owns the AM shares through Woodford Patient Capital Trust rather than WEIF which is where he has been sacked by Link Asset Management? Als, if it was a transfer to a new manager, why weren't all the shares transferred?
Woodford sacked on their largest fund yesterday so could be a transfer to a new manager from that
Woodford just sold a big chunk of his PFG shares down from 15% to under 5%
And the price has moved up very nicely :-)
I wonder what he'll sell next . . .
I’m hoping Crystal Amber is taking advantage of the drop in price.
I still hope then will have some influence on the management and their well rewarding bonuses that they awarded themselves.
Well I would support that too
I still think its better to use the Hawkeye proceeds to buy out Woodford on the cheap rather than a special dividend. Otherwise the SP will continue to be held back well into next year.
Well i like simple math when it comes to my investing. We currently have a mcap of around £111m and we’ve got a buyer for hawkeye at around £52m (~$65m) which theoretically would value the rest of the portfolio £59m based simply on mcap (and exc the cash position which is around 80% of that if I read the latest report properly) which is absolutely bonkers , fed wireless is already worth multiples of that (many multiples in mine and a few others opinion). Great op but where is the bottom for max return, trick is not to be greedy for a couple of % and miss the entry I guess... at this price you’re going to get roughly 25% of your stake back on the hawkeye divi!
*right
hope you are rich snaffle. I am so over exposed on ALM and its making a big dent. AM tempted to top up at these prices. 10p special divi hopefully coming our way soon..
Roughly 52m according to last woodford tr1, but i personally cant see that being put onto the open market for PI’s to get at, the mcap vs NAV is already unbelievable, dumping that amount without a buyer would surely (but temporarily) floor the price and hardly be even a half reasonable return for the woodford fund investors but would present an amazing buy. My thoughts are there is a mexican standoff between a few II’s waiting to time woody out to get price as low as possible then see who moves first to take his stake. Wish i had more funds, especially at the moment as ALM is off the map of the ‘herd’ and fomo group and only being watched by those who have researched... interesting but painful to be a holder at the moment, but once he’s gone we should be all good as fundamentals are sound
How much do they have to dump, could take a while.
Looks like some light at the end of his involvement, hopefully someone going to take his ALM holding off his hands soon and free the company ...