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You should not have any problem finding BOOK on HL
I have Literacy capital in a HL SIPP
Hi All,
I deal with Halifax & HL and can’t seem to find BOOK / BOOK.L / Literacy Capital PLC. ?
Any advice? Or am I missing something obvious.
I don't always assume that high percentage ownership by management and directors is a good thing.
Symphony international is an example where management and directors are clearly working for there own good and not the rest of the shareholders.
I have just started investing in this company.
I intend on making it a large percentage of my portfolio.
UK only. UK cheap no FX worries.
Very small to small businesses. Again cheap.
Some excellent sales with 50% uplifts.
Returns 10x costs.
They look to me like they have a niche in the private equity investment trusts sector.
I like niches!
I would like to buy in my ISA but it's with freetrade and not available in there .
Probably in the future.
In the meantime a small investment in my SIPP.
3i my biggest investment followed by HGT. Intend on making this my second largest investment. Soon I hope.
Long time lurker here. I was just checking the latest list of major shareholders on SharePad and out of the 60 million shares in the market. Paul, Richard and Deidre Pindar hold 26.8m shares (44.6%). The other directors hold 4.4m shares (7.3%) between them. So family + directors = 31.2m shares (52%). The other major shareholders own 10.3m (17.2%). In total, these major shareholders hold 41.5m shares, that is 69.2% of 60m shares. This leaves 18.5m shares held by non-Major shareholders.
I looked at the trading over the last 6 months and the mean daily number of shares traded was circa 19,000 shares per day (circa £100k a day); on a median basis it was about 13,500 shares per day (£67k a day). With circa 250 trading days a year, that means the market is trading through 4.75m shares a year at current rates.
So the observation is that at current trading rates it would take 3.9 YEARS to churn through the 18.5m non major shareholders.
Literacy have yet to prove material levels of exiting/harvesting portfolio companies, but surely this would pop if the was a material change in NAV in the future?
Appendix: Major shareholder information from SharePad:
Paul Richard Martin Pindar - Chairman - 17.0m shares (28.3%)
Richard Pindar - Director - 6.4m shares (10.7%)
Deidre Pindar - - 3.4m shares (5.6%)
Simon Richard Downing - Director - 3.3m shares (5.4%)
Martin Bolland - - 3.0m shares (5.0%)
Nicholas Robinson - - 3.0m shares (5.0%)
Generational - - 2.4m shares (4.0%)
Nicholas Humphries - - 2.0m shares (3.3%)
Kevin Peter Dady - Director - 0.7m shares (1.1%)
Christopher Sellers - Director - 0.4m shares (0.7%)
Rachel Murphy - Director - 0.1m shares (0.1%)
Seems about right to me. A sale, you would think.
And the NAV marches on. Formidable performance.
The delay of the Fact Sheet until early August makes me think that there must be some good news to be announced. The RNS said that there is no bad news. In the recent podcasts they were on there hints about newflow to come along.
This has got to be THE most successful investment trust on the market today, yet there's literally zero interest in it on the message boards. Perhaps it should change its name to Literacy AI Blockchain Capital....
Very important information that requires detailed study. And this is what I plan to do in the near future. Although now I have more priority issues that need to be addressed immediately. This step-by-step guide helps me with that https://www.aresearchguide.com/1steps.html Because in the preparation of written work, an accurate approach is important.
It's relevant info for me
The company recently made a good presentation which is why I think the price is moving up. Minimal liquidity is not helping with pretty small trades going through. I have a buy limit order in place hoping to take advantage of a profit taker coming in and "trashing" the price.
Paul Pindar, Chairman & Richard Pindar, CEO present final results for the nine months to 31 December 2022. Literacy Capital, is an investment trust with a focus on helping to build great businesses to generate superior returns.
Watch the video here: https://www.piworld.co.uk/company-videos/literacy-capital-book-full-year-2022-investor-presentation-march-2023/
Or listen to the podcast here: https://piworld.podbean.com/e/literacy-capital-book-full-year-2022-investor-presentation-march-2023/
Hahaha point taken!
Yep, I did note his background, I also noted that he was an earlier investor in Purplebricks alongside a certain Neil Woodford... ;)
Interesting and valid argument. Only thing I would add is the chairman’s having such a good background and reputation will of course give more weight to the validity of the results being published
I've just been having a look into this company as at first glance the NAV performance looks far too good to be true. My honest opinion is that something as opaque as BOOK shouldn't be listed on the LSE, you can't see any financial information for the private companies held & the methodologies behind increases in NAV aren't provided.
BOOK own over 50% of RCI Group which is worth over 25% of it's supposed NAV. Could it genuinely realise that stake in a sale? I highly doubt it. IMO it's NAV should be discounted by at least 50% due to this fact alone.
Basing NAV on stakes held in small listed companies is bad enough (illiquidity etc) but holding private entities that nobody on here has heard of and aggressively increasing their valuations in the current environment seems absurd. It's different if the stakes have been taken as part of a large funding round in companies that have been valued by multiple parties (i.e. Molten Ventures), but this clearly isn't the case here.
Only 2 market makers provide quotes to buy or sell so the shares are exceptionally thinly traded, personally I wouldn't touch them with a 100 foot pole...
Surely this kind of NAV performance can’t last? It’s incredible!
Well.... I’m in here...... anyone else?