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Into long auction..
4 buys of 100,000 and sp up 20%. Any ideas out there?
Blimey , what just happened here..
What’s with the sudden leap before close?!
And don’t forget the estimated NAV per share in mid December was 15.72pence, I’d almost FOUR times the current asking price or a discount of almost 75%
I reckon there were over five million shares bought yesterday at or around the 4.00 asking price. Good to see but as papa notes, very little change in the bid/ask prices and still a spread of over 10%
buys 3.5 million and the sp goes up 0.04 p ? Steady on mms don't push the boat out too far .
Is this share much the same as an investment trust ?
correct. Don't be fooled, the Malaysian datuk title can be bought according to a lawyer I know in Malaysia.
Agreed. The title of Datuk is honorary and demands great respect. Well I certainly do not have a lot of respect for the Datuk with what he has done with Polo thus far - completely decimated my holding here whilst still spouting about creating shareholder value for many years. I suppose this is what happens when a barrister thinks he is really a businessman.
Whenever I dump a share, it usually flourishes. So hold on and good luck. Tang has paid so much for his holding so I cannot see any likelihood of returns for any shareholders. The day Dattels and co. departed was an exit cue. Never took it and sat here hoping for similar excitement. My take is that Tang has annual drawings which can be taken for many years to come, especially as we all know the asset value is multiple times the current share price but not enough for Tang to make a huge profit on his investment if he sells assets and shares the proceeds with other shareholders.
Reminds me of my investment in GBP where a big lump of cash has been sucked out by the BoD over many years.
I always thought that NAV was an important criteria when investing. Not here.
Thanks, Jonah !
Will keep an open eye now. Cant imagine a reason for a sudden large seller 'over there'.
It's been an absolute farce over on GCM today. However, there is obviously a seller. No one has any details about the 2013 'potential' sale (such as the buyer, the price or anything else). The apparent drop here today is much less than 9%, since yesterdays close was quoted at mid price and todays sp equates to the bid, with a 10% spread. I have commented on this anomaly previously.
Hmmm, is it true that Polo was already seeking to sell their GCM stake back in 2013?
(Today someone mentioned over there that the 29% stake could be looking for a seller. But why would POL give their share away?)
"all resolutions proposed to shareholders were duly passed."
I didn't see any agenda, no voting results or any proposed resolutions. And where are the minutes of the AGM?
I see absolutely no reason to invest in Polo and this is the reason that the share price is static. As Camkite has said shareholders have zero control when assets are sold and profits returned to shareholders. Actually this has not happened a single time whilst the Datuk has been in charge so what the upside here? Where is the potential for shareholder return? The Datuk mentioned he wanted to create shareholder value via share price increase - totally failed at that so far and GCM is years away IMO
A sadly lacking requirement, to show balance sheet values of each investment.
Am I wrong? Can anyone here tell me what value is shown for GCM in June 18 accounts?
Yes I know, hence the subdued nature of my post. A lot of unashamed ramping going on over on GCM. But, progress is progress.
£12m value currently in GCM. Our market cap at £13m. Interesting.
Jonah, " lagging behind " ! understatement of the year... it is only the 17th. :-)
Gcm has increased around 300% since mid-November.
GCM update...
GCM RNS is being received with enthusiasm over there. Just a JVA, but it's some sort of progress. Think I buy a few more here today as Polo, as usual, is lagging behind.
Thanks Cam. I appreciate your points. My issue, however, is the odd way our share sp gets quoted at the top of this page. With most other shares, the quoted sp is more or less half way between the bid and the ask. With Polo, we often find the quoted sp as being the same as the bid, in which case it looks horribly low, or the same as the ask, giving rise to unwarranted optimism! These anomalies are exaggerated by the large spread.
I understand why this share is unloved. I don't understand the line (currently in unjustified blue) at the top of this page. Is it just the mms trying to make a market?
Yes Folder, GCM up again and some first rate ramping going on over there too. I note that we appear to have a good rise here but, just like some of the drops, it looks spurious taking the quoted sp and spread into account. Why does this happen with Polo? Anyone know?
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