Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
To achieve capital appreciation through investments in a diversified portfolio of private mid-market businesses primarily in Europe.
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I've owned this share for a while now and it's always tracked about 40% below the NAV. I remember watching a video where the investment manager said this would happen and he didn't know why. At the end of the day the share has performed nicely for me so a narrowing of the discount would be a bonus.
And again to 495p
Narrowing with SP increase to 475
It has to at some point, director buys recently at 460p and they are doing share buy backs, the whole market is trading as if we are heading into long drawn out recession
Now NAV 679p, discount 37%, meaning a 58% rise vneeded to get to NAV.
Incredible for a stock with such a good track record.
Will it ever correct?
Srprised more prdators aren't raiding the London market, there really are some companies on absurdly low valuations.
Two large trades £312K and £57K went through on the close Fri 15th Sept both at 460p
There is something wrong with the SP today. Buys total is 0, sales is 466,000. Result: down -0.66p.
What's occurring?
Interims this am state NAV now 663p per share and cash of £248 mill.
What a bargain but the market does not see it.
Still risk off.
Circa £2.5m of trades across 6 trades yesterday (1st July). Last time there were £1m+ like this and an RNS came out three days later telling the market that Peter Dubens was the buyer .
And yet more today. Fill yer boots, they are.
2 more director buys today totalling 250,000 shares.
And some more, shows confidence
Peter Dubens, a Director of the Company, has purchased 175,000 Ordinary Shares in the Company ("Ordinary Shares") at a price of 455 pence per share. As a result, Mr Dubens is now interested in 18,717,581 Ordinary Shares of the Company, representing 10.61% percent of the issued share capital.
thanks Etotheipi, I had never heard of HGT and am now a shareholder showing a profit already!
I think that people are not differentiating between private equity trusts which specialise in venture capital and trusts which concentrate on profitable private companies. I can understand the venture capital trusts going to large discounts but trusts like Oakley should not be treated in the same fashion. This has created a buying opportunity for Oakley given its record over the last few years.
I've got a few private equity investment trusts, all on big discounts and mostly doing badly except this, NBPE and HGT. One reason for the wide discounts suggested by a guest on the money makers podcast is that the market is expecting the NAVs of PE IT to fall due to the reporting delay. He mentioned that OCI were going to be the first to report.
It's excellent news that the NAV has actually increased by 24%, not only for OCI but the other private equity ITs. I am really impressed by the speed at which OCI have produced the update, it can take others 2 or 3 months rather than just over 3 weeks.
And the share price is at an all time high of 456p so not bad compared to a lot of trusts.
Highlights for the year ended 31 December 2022
· Net Asset Value ("NAV") per share of 662 pence and NAV of £1,167 million
· Total NAV return per share of 24% (+128 pence)
· Investments of £269 million and share of proceeds of £244 million
· Year-end cash and available debt of £210 million
· Outstanding commitments of £929 million
· Buy-back and cancellation of 2.2 million shares
Yes this is far to cheap and will rise throughout the year to a more sensible share price.
Peter Dubens, a Director of the Company, has purchased 158,950 Ordinary Shares in the Company ("Ordinary Shares") at a price of 378 pence per share. As a result, Mr Dubens is now interested in 18,242,581 Ordinary Shares of the Company, representing 10.34% percent of the issued share capital.
NAV PER SHARE - +4% to 655p - 30 Sept 2022
Share price 26th Oct 391p
DISCOUNT - 40%
NAV PER SHARE - 630P - 30 JUNE 2022
Share price 10th Sept 411p
DISCOUNT - 34%
They are buying back their own shares every day now 180K @ £3.89 and 200K @ £3.78 is £1.456M of shares cancelled.
Following this transaction, there are 177,828,438 Ordinary Shares in issue and admitted to trading on the Specialist Fund Segment of the London Stock Exchange's main market, none of which are held in treasury.
it must be that the market is discounting difficult to exit unquoted positions in the current and forecast climate?
however the market can be wrong!
With the pound on the ropes, it's probably even higher than that.