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'Im In as they say... just for the divi alone GLA
Well well well wisecrow does it again excellent digging took some
This share has only just come on my radar, there is a reason that the share price is at 3.5p yet Im not quite sure why?? Just looking at the last statement in July -Emerging markets have rallied quite a lot after brexit A high of 28p this year and now down here, there does seem some value to be had at these levels.. Am I missing something- they state a dividend of 16p ??? CITY OF LONDON INVESTMENT GROUP EXPECTS DROP IN PROFITS, DIVIDEND STEADY (ShareCast News) - City of London Investment Group anticipated a decline in profits as funds under management registered a moderate decline, the emerging markets asset manager said in a pre-close trading update for the financial year to 30 June. Funds under management fell by 5% from $4.2bn to $4.0bn, but positive exchange rate effects saw the sterling value of FuM rise 11% to £3.0bn at period-end, versus £2.7bn last year. Over the reporting period in question, cable weakened from 1.57 to 1.33. The MSCI Emerging Markets TR Net Index dropped 12% in US dollar terms over the year, resulting in a relative change in FuM of +7% when measured against the benchmark, a product of both positive investment performance and new and existing client inflows, City of London said in a statement. The firm's emerging markets closed-end fund (CEF) strategy put in another "strong" performance, City of London said, with its performance in the first or second quartile versus manager peers. Overhead costs were expected to rise from £9.4m to £10.7m and pre-tax profits to decline from £8.9m to £8.0m. Brexit had no effect on FuM and no redemptions had been seen in the fiscal year-to-date, the firm said. City of London's board recommended that the final dividend be kept at 16p per share. However, the falls seen in emerging markets meant that its earnings cover would fall this year, but the Board emphasised that was tempered by the company's "strong" cash position and expressed "optimism" regarding the future.
If you look at 2011 when we were at current sp it was referred to as being correctly values however compared to then we are churning out approx three times more. Ofcourse with alot of companies this size we have a lot of funding from outside however this topped with future opportunities and further funding from companies initiative to increase sp should see this surging
Anything less than a 6p finish today
I reckon my target of 10p is sensible considering 52 week high was 28p. This long time ago base price we are on is way way undervalued.
I would tend to agree, hence a little flutter this morning at 8.22.
This is going to rise today at that SP.
Emerging markets asset manager City of London Investment Group said it expected a net withdrawal of funds in the last three months of 2012. Approximately $120m of net withdrawals is anticipated for the final quarter of the calendar year, based upon client instructions received. Net client withdrawals since the end of May totalled $360m, the firm said in a trading update. "As noted in the final results announcement of September 3rd, these were largely prompted by rebalancing of risk assets by asset allocators, although in some instances recent underperformance of the underlying net asset values and some discount widening was a factor," it said. At the end of September funds under management were $4.5bn (£2.8bn). This compared to US$4.5bn (£2.9bn) at the company's year-end on May 31st. In US dollar terms, allowing for client withdrawals, this represented marginal underperformance against the MSCI Emerging Markets Index, which increased by 12% over the same period, the company said.
Investment company City of London Group has placed just under 1.84m new ordinary shares at 70p each - a premium to the net asset value - representing 10 per cent of the current shares in issue. The placing raised just under £1.286m before costs, which will be used to develop the company's existing business platforms, for working capital and to invest in new opportunities as they arise. Eric Anstee, Chief Executive, said: "City of London Group has a history of recognising areas which are poorly served by current forms of finance and in particular bank lending. Through our business platforms we have been facilitating lending into the SME sector and we are pioneers in the litigation funding sector. "This successful placing of £1.3m of new equity will enable us to fund the continued growth of our platforms as well as invest in further exceptional management teams as and when the opportunity arises."
http://www.investegate.co.uk/Article.aspx?id=201006161507487368N
RNS Number : 7368N City Of London Group PLC 16 June 2010  City Of London Group Plc Chairman's Statement, Chief Executives Review and Financial Results 2010 City Of London Group has made major strides forward and is positioned for growth. · Group operating profit of £248,422 (2009: £117,723) - an increase of 111% · Net Assets £7.73m (2009: £6.28m) up 23.1% · Asset value per share 77.4p (2009: 63.9.p) - an increase of 21.1% · Share price at 31st March 72.5p (2009: 34.5.p) - an increase of 110.1%% · Dividend recommenced at 0.5p per share 16 June 2010 Enquiries: City of London Group plc 020 7628 5518 Eric Anstee, Chief Executive College Hill 020 7457 2020 Roddy Watt/Tony Friend Seymour Pierce 020 7107 8000 Christopher Howard/Guy Peters Chairman's Statement: This is my first full-year report since my appointment as your Non-Executive Chairman in September 2009. As I mentioned in my half-year report ,we have seen a significant change in our management team with the appointment of experienced leaders specifically recruited to build the group into a quality financial services group centred on specialist financing and alternative fund management. The team have made a rapid and positive start and since their arrival in November 2009 we have made two significant investments. These investments are in two fund management companies that have specific management skills in providing finance to the legal profession. We are confident that these groups will successfully raise specialist funds to apply their skills and thereby benefit your company from performance fees. Investment Climate: Our ever-changing market conditions, with continued aftershocks arising from the significant global financial crisis, have meant that the global economic recovery and growth is very fragile and uncertain. A climate with low interest rates and a continued lack of liquidity in the wholesale lending market has resulted in a widening of the need for investment approaches to grow shareholder funds. Whilst global stock markets have recovered from their low points in the first half of 2009, we remain cautious about growth prospects for equities and bonds in the next twelve months. European economic stability has been substantially undermined by economic and fiscal bailouts needed in some European Union Member States and we have seen in just the last few weeks major sell-offs in world stock markets. Investment performance and prospects: This economic backdrop convinces our board that its strategy of seeking out new focused areas of alternative fund management, based primarily on asset-backed lending, will provid
I thought it was boring in RBS!!!
When are these shares going to give me some more profit???? I will hold these long term.Aaarrrggghhh!!!
missed my chance with GAL... coudlnt buy and sell in time . i saw it all happen in a few minutes..saw ppl talking abt it but ignored it then read into it and was just gonna buy when price rocketed . u did well tho thats cool . u thinking of putting in here dontu think its already done its peak and gonna go down now
rns says early stages of discussions , which means things have a long time yet to be sorted ...so excpext the share price has gone up on the gud news but will more than likely retrace back down and then level out after mm manipulation and then stay staedy until further good news which according to the rns is way off yet .... any thoughts ppl
Looking good for a rise in the morning!! Surely a multi bagger with this one!!! DYOR..DYOR...DYOR... S/L
Spread now 56p-60p these are going to fly tommorow. S/L
Made e good profit today from gal, doubled a 10k investment. Putting the profit in here as i expect these could make a tidy profit over the next week or so!! Looks like another that has slipped the radar of the traders..
done scots, went throught the rns's this morning and this one must have slipped through, GL
Got in these yesterday at 39p. Looking godd for double money i think!! DYOR..