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Looking to rebrand and relist.....interesting.
how comes this has dropped to 40p when offer is 60p has it been rejected again?
I am in the same situation for c. £5k. The share price discount to NAV on trusts like this can be large, but the 60p offer is not high enough when the amount of cash it holds is taken into consideration.
Think though I will reluctantly take the offer (with a small gain) rather than get involved in the hassle that would otherwise follow.
Seems the bidder now owns more than 50%.
As a holder of a small c. £3k of shares should I accept and save any hassle over getting my money back or given the NAV is much higher than 60p do i hold out?
Well that was a long and boring way to lose 50 quid = getting a bit bored with these Guernsey based company dubious deals - MXC was the last one to pull something like this
Really hope they reject unless it’s over 70 (min NAV in last 3 years)
What is holding this back? Obscurity?
HL inform me this is bcos they have not provided rekevant info on cocts and fees.
Volumes up, ST further endorsement, this ones about to lift off...GLA
You can with Halifax and II
CIP is not available to trade on HL.
"This stock is unavailable to buy. If you already hold this investment you can continue to hold it, and sell it at any time, but no further purchases can be made."
Absolutely, been saying this for months! Get in before the correction starts me thinks.
Stripping out the £10m cash, the discount to nav of investments is 48%! Crazy. Just an overlooked anomaly
Highlights the anomalous discount to NAV of c. 40% and suggests distinct possibility of M & A activity. Personally I think it's a question of when not if CFE make their next move. Probably a very good time to add to holding given the highly favourable risk/reward ratio.
Thanks for your response Misterh, beginning to think I'm the only one here. Yes investments look decent and I'm continuing to buy, next bid could be about 75p but still not anywhere near enough imho
I also found this interesting. CFE hold 16027317 voting rights and the vote against was 15259317. I'm not sure what happened to the other 768,000 votes but I'm assuming that only CFE voted against. It would appear that they do not want to introduce a mechanism that could help reduce the massive discount to NAV [currently c. 37%] via share buybacks. I agree therefore that they may be weighing up another bid for the company, probably at a laughable discount as previously.
I have been adding to my holding as I really like the prospects of the current investments.
NAV now 93.7p.
AGM- resolution 11 to buyback own shares blocked, only 33% votes. Wonder what shareholders are blocking and why (Corporation Financière Européenne S.A?) Maybe another bid on way...
Interested in any other views on this stock.....
Looks like someone loading up again
Why is this still so undervalued
ahh well there you go, Corporation Financière Européenne S.A increasing again
Any ideas???
At last.....
I have bought and held in HL - you may need to complete a complex vehicle declaration or similar
HL wont allow me to buy this share...says their charges are not transparent enough !
too long an article to summarise and as a paying subscriber I dont think I should upload it free.sorry