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Yes, has it gone to far, already Buys[403k] are almost double Sells[206k] [all PI activated, no 'A' deals]? Did news of future policy pass me by? Almost at the end 4 April RNS circular intimation, was a resolution to EXTEND the wind up SALE deadline to 31st MARCH 2015, to be approved at the General Meeting on 25 April! The GM report ,dtd 25th April made no direct mention that resolution was passed .... much about the cash return, followed by a bland, "All resolutions were duly passed"! Has the omitted reference of the meetings approval of the sale extension, pre-empted 'panic' selling? NB Capital's to catch passing eye's!
The fall will be associated with the impending return of cash of 4.5p per share.
It appears no reason at all..? I did a bit of searching around and could not find any news..!
whats with the fall here today
Is now tightening:) 4.75 - 5.00p
Buys showing as sells... Looks like she's bouncing!
Cheque it out ......
I think I'm with you on this one, bretty. On the number of shares I own I've got back £11,000 from the last two payouts and there's potentially another £50K if we get back the whole 11.4p of the NAV. I guess the thing I'm looking for is whether there will be any equity value left as additional payments are made or an opportunity to invest at a good discount in anything that follows after SPARK is 'wound up.' As with you, I'm a bit wary of any potential legal battle and whether an injunction is sought to stop further payments until it is resolved.
I didn't see that IC reprot - can you summarise? For my part, I don't see the last RNS as "shocking". The NAV remains well above the S/P and there was always going to be SOME investment disappointment in the portfolio - (when is there not?). On balance, I would have said that the portfolio performacnce is actually quite encouraging but, then again, I may be wearing my rose-tinted spectacles.... I've been holding this for a long time now and I'm generally pretty satisfied with the current management performance. I would like to know a little more, however, about the departure of the founder and the potential legal spat..... BT
Just gone through
Cash rebate from this money cow! :-)
very impressive!
This isn't moving. What a ROI
Beats your 10%. lol
net 11million!!
RNS
Great Deal
SPARK Ventures announces the sale of its remaining stake in noths for net cash proceeds of £11.0m, thus substantially increasing the Company's cash balances. This brings SPARK's total returns to £12.8m from an initial investment of £0.7m in 2007/8, a multiple of 18 times the initial investment, an IRR of 65% and an 8% uplift to the previously disclosed book valu
.....that it's underpriced.......
Interesting a payment of 2p per share to be made to shareholders on or before October 10th.
The regulatory statement is just great. It seems to me (just IMHO) that the NAV at 15p+ must be understated (it always has been of late) and that asset sale prices are likely to be greater than anticipated. 11.5p must be a steal given that the statement reveals that most assets are under negotiation at this time. I'm not going to buy any more but I'm already holding quite an amount and am happy to continue. Looking forward to the payments.......
Please delete NB 2 - the quoted price was correct, 8 trades, 225k sales, 35K buys!
See above - just available, briefly; 12% increase in NAV = 15.1p/ps ... MINIMUM return tb/agreed at Sep AGM of 2p [ie per 10p share = 20%; 2/12 = 16.6%;2/14 = 14.285%] 1. Part disposal of 'KOBALT', AFTER balance sheet date, will bring in £10m cash proceeds ... so? Remaining 'K' valuation increased 75% in past 6 month's! 2. Assets and trade of 'ASPEX' sold in year, EXPECTED proceeds Circa £9m - £4.2m recd, balance of £3.6m due 'prior' to 31 March 2014! 3. Processes 'underway' to sell remaining asset's ..... as in 'all' ..bit vague, as difficult economic times continue! ....... all as I understand it. There is more, but check it yourself, please .... NB !. Correction - the 2.5 'pence' ** return in 2012, per 12p share = +20.8%: 14p = +17.85%. Bank's currently .... ? **Not '%', as my 5/7 post]. 2. Re the 5/7 post, IF you read it, you may have noticed the Share price above of 9.63 - on that day there were 3 trades, 2000 share's SOLD, and 50000 share's BOUGHT, The actually traded SELL price I collected at 15 51hrs were 10,84 p and the last of the combined 50000 were bt at 10.97p. NO idea where the 9,63 came from - NOTHING, buy or sell was dealt at that figure, also there were NO further trades after that time.
Into July ... incidentally I opined back in March[see below] that the 17% projected annual return forecast by IC from sales of component businesses, that winding down Spark are 'vigourously' pursuing, might more accurately be termed as, 'as long as you're prepared to wait', might recall that six months elapsed after the last sale's completion,[anyone know time to seal the deal?] before shareholders were funded. No current news of potential deals in the offing, so its unlikely there will be a 17% return 12 months since the last 2.5% return ....... weigh the pros and cons again, or sit tight a little longer! All IMHO
Just had a quick e-mail chat with Andy Betton of SPARK, asking him when the 6-monthly NAV report will be released. This is his reply: Not sure yet – likely to be towards end of June as we need the entire annual report to be ready to get out of the results closed period – so no point in getting a prelim out in early June as in prior years…. Andy