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Can anyone tell me why such large swings in SP on daily period can move 15% up or down for no reason?
... why are the MMs now running for the hills?
I have had it in my long term P/f for the divi' (since 2012) and have also day traded it when it hit sub 220p...seems to be less well known than it could be? Bit of a spike today! VBR
Normally a big spread that seems to have closed up?
Have got some too ...
Yes. Bought for the divi, after a recommendation on Paulypilot. Holding.
Anyone else in this?
why is the spread so high
3,000,000 shares... AFAIK this relates to Alpha Pyrenees Trust Ltd, and has nothing to do with CLIG. What is the connection, if any?
15.03.2012 The Trust announces that its Investment Manager, Alpha Real Capital LLP ("ARC"), today purchased 3,000,000 ordinary shares at 6p per share. This transaction represents 2.6% of the issued share capital. Following the purchase ARC will own 7,400,000 ordinary shares. Let's hope they know something we don't! .
Top Director Buys City of London Investment Group (CLIG) Director name: Mr Barry M Olliff Amount purchased: 25,000 @ 295.00p Value: 73,750
City of London Investment Trust's share price was down 0.18% to 326.10p at 11:42 on Friday.
With regard to the performance of specific stocks in the portfolio, he said: "Within the portfolio, particularly strong performances were achieved by newspaper distributor Smiths News where profits beat low expectations, IMI experiencing global demand for its industrial engineering products and the life assurers Aviva and Standard Life which benefited from improving equity markets."
City of London Investment Trust has reported a 'good performance' in the context of a mixed global economic environment, according to its half yearly report for the period ending December 31st. The company reported that it had produced a net asset value total return of 9.6%, 1.1% better than the size weighted average for the UK Growth & Income investment trust sector. The trust's performance was also 0.9 percentage points better than the FTSE All-Share Index, which produced a total return of 8.7%. Philip Remnant, Chairman of the company, stated: "We benefited from gearing during the six months of between 8% and 10% as well as below average exposure to the oil sector, which was a poor performer."
Cash and cash equivalents at the period stood at £5.8m (2011: £5.9m). Finally, the manager explained that its dividend payment policy has normally been based on a split of one third/two thirds between the interim and the final, and currently there are no plans for that to change, despite the lower (and hopefully temporary) dividend cover. Management is also currently in the process of implementing the findings of a review focused on product restructuring and process improvement. It expects that programme to result in annualised cost savings of at least £1m, to be reflected fully in its 2013/14 financial year.
City of London's FuM at the beginning of the current financial year, on June 1st, stood at 2.9bn pounds. That was, itself, also lower than the 4.8bn (3bn pounds) as of November 30th 2011. Cardale also believes that it the firm benefits from the above trend then, "the operational gearing inherent in City of London's business model, together with the reduced costs and commissions, will produce a welcome uplift in revenues, profitability, dividend cover and ultimately, dividends themselves." Revenues, representing the Group's management charges on FuM, were £15.1m, instead of the £17.2m seen a year ago. Profit before tax of £4.7m decreased in comparison to the £5.7m of a year back. Despite all of the above the outfit paid out an interim dividend of 8p per share on December 28th.
Despite the generally positive - albeit volatile - trend seen in developed world markets in the second half of 2012, and an associated pick-up in fund inflows, funds under Management ("FuM") at emerging markets specialist City of London Investment Group actually fell in the half year ended November 30th, to 3.9bn dollars (2.4bn pounds). However, by the end of the calendar year - December 31st - FuM had recovered slightly, to £2.5bn. Furthermore, the company explained that the Group has also had to deal with a very large redemption from a single client that took the management of its emerging market exposure in-house, having been a client of ours for nearly five years. The decision was based on a change in the client's strategic objectives. In that same vein, David Cardale, Chairman, anticipated that global investors will re-commit to their core emerging and frontier investment markets. To back up his statement he highlighted how the MXEF - the Morgan Stanley Emerging Markets index - has risen by 7% since the end of the company's reporting period.
Its near the 52 week low, good time to buy! Not many investments give close to a 10% dividend and have an increasing share price. Furthermore, the directors seem confident with buys of £250k! Plan is to sell around £3.50 and make a tidy profit.
City of London Investment Group plc (LSE: CLIG) announces that the interim dividend of 8 pence per share will be paid on 28th December 2012. This has been brought forward from the previously announced date of 8th February 2013 in order to accommodate US resident shareholders. The ex-dividend date will now be 12th December 2012 and the dividend record date will be 14th December 2012. The final dividend will be reviewed at the end of May.
strange one director sells 100.000 and another one buy's 100.000......
City of London Investment Group (CLIG) Director name: Mr Douglas F Allison Amount sold: 100,000 @ 255.00p Value: £255,000
City of London Investment Group (CLIG) Director name: Mr Barry M Olliff Amount purchased: 100,000 @ 255.00p Value: £255,000
RNS Number : 7307J City of London Investment Group PLC 10 August 2012  10 August 2012 ("City of London") Letter to the Directors of EnergyO Solutions Russia AB City of London (LSE:CLIG), a leading emerging markets asset management group, announces today that it has sent the following letter to the Directors of EnergyO Solutions Russia AB (First North, Stockholm: EOS). "Dear Directors, EnergyO Solutions Russia AB ("EOS" or "the Company") City of London Investment Management (CoLIM) currently holds on behalf of institutional clients 9.8 million shares (17.2%) in EOS. We have noted the convening notice for an extraordinary general meeting on Wednesday 22nd August 2012 and we confirm that we will oppose both the synthetic share buyback and the proposed changes in the Company's corporate governance structure. Since its listing in 2007, the EOS share price has declined over 80%, the net asset value per share has declined by approximately 75% and shareholders have not received any dividends. In CoLIM's opinion, EOS should not enter into a four year management advisory agreement with the management team that has overseen this failure. The timing is particularly inappropriate ahead of the 2013 AGM, when EOS shareholders shall determine whether the Company should continue its operations. The proposed synthetic buyback is an inadequate response to the current situation because it offers shareholders an opaque and uncertain exit at a discount to the underlying value of their assets in the Company. We are considering our own proposal. In the meantime we urge you to postpone the EGM and to bring forward proposals at the earliest opportunity that will permit shareholders to realise their investment at net asset value." For further information please contact: Simon Westlake, Executive City of London Investment Group