Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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lets face it,your having a pretty good week..... some optomistic posts from yourself just lately.... except on wres.lol..
Despite me seemingly being the only investor here, this is doing well.
sell on the news. Well I am holding, good co, IMO
...as a grave, aren't many invested here? I been in this so long, that when I started it was only 2i group. Seems to have been a steady rise. Maybe it is the all knowing silent type that invest here.
Lol.cant tell ya....top secret.....
ok what?
ok..
investor left.....bit hollow and echoy investor left investor left etc
bit quite. Thought some would be cheered by 3 eyes prog. I am anyway!
3i Group (III) Director name: Mrs Julia Wilson Amount purchased: 3,921 @ 285.98p Value: 11,213
3i Group (III) Director name: Sir Adrian Montague CBE Amount purchased: 10,752 @ 279.00p Value: £29,998
31 January 2013 Britain's oldest private-equity firm 3i today showed how it might fend off corporate raider Ed Bramson if he decides to take a punt at the company, as is widely expected. Simon Borrows, the group’s chief executive, said in a third-quarter update that “strong and measurable progress” had been made restructuring the business since he took over last year. The company, which owns lingerie chain Agent Provocateur and restaurants chain Giraffe, said it expected to beat cost-cutting targets this year and would focus on asset disposals over the coming months. Net asset value rose 4.8% to 286p a share. Earlier this week, 3i revealed that Bramson’s Guernsey-based Sherborne Investors had built up a sizeable stake in the 67-year-old firm. Bramson is best known for his boardroom coup of F&C Asset Management, managing to take control without a full-scale takeover bid. He ousted the chairman and eventually the chief executive. 3i declined to comment any further on Sherborne’s plans but confirmed it had not yet held discussions with Bramson. Some investors expect a battle for control of the company to unfold over the coming months, although one analyst suggested Bramson could step back if the firm’s performance continues to improve. 3i is likely to resist any demands for change having seen off a separate assault from Laxey Partners, another activist investor, last year. Since then, the company has cut 190 jobs and diversified into new areas under the leadership of Borrows, a veteran banker. One of Sherborne’s biggest backers, Aviva Investors, today indicated it would back an assault at 3i. “Ed Bramson has done a great job for us, not only at F&C but also at the other companies where we previously supported him,” David Lis, head of UK equities said. “Hence our decision to back him once again by acquiring almost 20% of his new vehicle.” http://www.standard.co.uk/business/business-news/3i-builds-up-its-defence-against-corporate-raider-8475210.html Notet: " Net asset value rose 4.8% to 286p a share."
Once again the contrain investor wins.
3i Group: Oriel Securities downgrades to sell with a target price of 230p.
Outlook While we have made strong progress towards the delivery of our strategy and continue to work hard to drive improved performance across our business, we are cautious on the macroeconomic outlook. The private equity market is facing a number of headwinds and activity levels remain well below historical levels. More broadly, concerns over the sovereign debt of a number of Eurozone countries and over the banking sector in Europe will likely create ongoing uncertainty. With a clear strategy, strong management focus on execution, a solid balance sheet and access to permanent capital to invest, we are confident that we can drive improved performance and re-build and deliver shareholder value over the coming years.
Simon Borrows, 3i's Chief Executive, commented: "Since the announcement of 3i's future strategy in June, we have wasted no time in implementing the significant organisational and cultural changes that are needed. "As a result, we have made strong and measurable progress against the immediate priorities and targets that we set out in June, and the Group has delivered steady overall performance in the first half in what remain challenging economic conditions and subdued markets. "There is much more to do and we will continue to work hard to drive improved performance across our business. "Our strategic goal is to be a leading international investor in mid-market private equity, infrastructure and debt management, and to deliver top quartile cash investment returns over the longer-term."
3i Group plc announces Half-yearly results to 30 September 2012 Key highlights § Strong and measurable progress in implementing the restructuring announced in June § On track to meet the announced cost and debt reduction targets § Steady overall returns, driven by improved performance in Private Equity and steady contributions from Infrastructure and Debt Management, partly offset by restructuring costs § Realisations and investment activity has been low in subdued M&A markets § NAV per share has been resilient at 273p at 30 September 2012 compared to 279p at 31 March 2012 § Interim dividend of 2.7 pence per share, same level as last year.
9m sell today.
Simon Borrows, 3i's Chief Executive said: "We are making good progress in implementing the strategic changes announced at the end of June to refocus our investment capabilities and reduce the Group's cost base."
Balance sheet Gross debt as at 30 June 2012 was reduced to £1,254 million (31 March 2012: £1,623 million), following the £223 million repayment of the remaining balance of the June 2012 Floating Rate Note, and early repayment of €150 million of a €300 million bond, which is due to mature in May 2013. The early partial repayment of the May 2013 bond means full year interest costs have been accelerated into this quarter. The benefit in reduced costs will be seen next financial year. Net debt increased to £490 million (31 March 2012: £464 million), as net divestment was offset by operating and interest costs. Consequently, gearing also increased to 19% (31 March 2012: 18%). Liquidity was £1.3 billion (31 March 2012: £1.7 billion), comprising £764 million cash and cash deposits and £491 million undrawn committed facilities.
http://www.investegate.co.uk/Article.aspx?id=201207270700066426I
WHAT THE BROKERS SAY 09 July 2012 Societe Generale retains its Buy recommendation for 3I Group with a target price of 270p. 11 July 2012 Barclays Capital reiterates its Overweight rating for 3I Group with a target price of 250p. 20 July 2012 Morgan Stanley retains its its Equal weight rating for 3I Group with a target price of 221p. Oriel Securities reiterates its Buy recommendation for 3I Group with a target price 230p. Source: http://sharedealing.nandp.co.uk/quote/?epic=III P.S. Here's a couple of links about SCLP, one of the hottest stocks at the moment: http://www.euroinvestor.com/community/discussionthread.aspx?threadid=256596 http://www.euroinvestor.com/community/discussionthread.aspx?threadid=253089
29/06/12 Newly appointed chief executive of 3i Group (III) Simon Borrows announced his plans for the future of the investment group, explaining he would be creating a leaner organisation with a cost base more closely aligned to its operations. An increased focus would be applied to its existing private equity portfolio which would also include a review of its investments and make realisations where conditions were right. "I strongly believe that [3i] has some real competitive strengths that we can build on to deliver long-term value for shareholders" commented Borrows
I thought this was ex-divi today? Didn;t seem to fall by that amount at the start of the day. If it is correct then it is good news that the SP is actually up on the day?