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NAV/share is approximately 36.8p with AAU at 5.6p to sell and GGP 24p to sell.
SVE value still to be reached
NAV per share roughly 30p
http://www.share-talk.co.uk/announcements/rns/starvest-plc/net-asset-value-s/202010061202262583B
MH
I hear you Scoutt. SVE price hasn't reacted to the uplift in GGP the past few days.
Seems everyone is on Ggp when they should be here looking gift horses in the mouth. Should really top up, still have 10% in Ggp so should reduce and buy here. Anyway talking to ones self is a sign that everyone else is too stupid to listen
Just found update NAV for sept, Oct 6th. The trajectory for Sve appears exponential on the graph a little mean to have it at 42% discount. Could attract a suitor with such a liquid asset as Ggp at 90% of value. Can see a lot of upside irrespective of events and the cheapest means of holding Ggp.
sent email to find out when update due, will inform board when I hear
whether U.S. President Donald Trump or Democratic candidate Joe Biden wins the election, gold will be all set to rise higher. https://www.kitco.com/news/2020-10-08/Trump-or-Biden-Both-to-provide-substantial-tailwinds-for-the-long-gold-trade-TD-Securities.html
I did not think the Share price of a company needed to relate to the NAV?
"While NAV measures the value of one share in a mutual fund, a stock price is a measure of the actual sale value of a set of shares that have been exchanged between buyer and seller."
https://finance.zacks.com/nav-vs-stock-price-3680.html
absolutely agree, well provided the nav catches up with the discount but that would change in an instant on a buy out.Thats why I have some of my money here although main holding is in GGP
..Which implies current NAV as of now is 35p. Share price at 53% discount or put another way, share price needs to rise more than 100% to catch up to NAV. Given 90% of the NAV is in GGP... you are effectively buying GGP at a 50% discount. It's as if you are offered a placing in GGP at a 50% discount.. can't be clearer than that.
Ha. near enough. Tad over 31p.
It'll be worth the wait and there is precedent for a later NAV update if you check the history of the filings. 32p/share NAV . Got to be close to that....
Whats going on? Why havent we had the quarterly NAV, this is unusual isnt it?? Cant help but think they have either sold some GGP or are waiting for news there to release (which would only be positive) but still doesn't feel like a reason not to issue a simple Van statement? something is going on? I emailed SVE yesterday with no response?
Please ignore my earlier message. It has been corrupted In transit somehow ie using 19% of nav value rather than 19% of this year’s profit.
Using mid prices across the pf : ggp (23,25) sve (18,75) aau (5,75) cora (8,85) kefi (2,08) alba (0,40) & orcp (0,68) the gross sve nav is 36,19 (£20,836mill). If we then make the following p.a. deductions: (1) admin & sales cost £485k (2) director (shares) fee costs £118,6 k (3) 19% corporation tax v zero past losses £3,662mill (4) loans 0 (5) options 0 - producing a net nav of 28,85 being 43% above current mid of 18,75. It would be useful to know prior year losses to be offset against the corporation tax but this is likely small in relation to current profit.
Whenever the NAV arrives you can add on about 10% for Ggp rise since late sept. Expect it should be good as Ggp were trading at 12 end June and Cora and Kefi nearly doubled aalso. One to keep tucked away or added to on drops until shenanigans sorted out at Ggp.
Damn my dodgy internet... No Q3 update
https://www.starvest.co.uk/investor-relations/
Has gone down... About to be updated????
Should be interesting when it arrives. Could be a few surprises and widening discount maybe. Think the discount should reduce as the portfolio is becoming more liquid by the day. AnywY a good share to hold onto until this global debt bomb has exploded and the greenback is no longer the reserve currency.
Between 11am and 2pm today would be odds on favourite
Not today, or close of play?
Current rise today in GGP adding value nicely to things.
Bought some on back of incoming news and shown as a sell today at 12.10.
Correction - it should read 'SVE portfolio has gone from a NAV of 19p/share to ~32p/share over the past quarter (not £)
That's pretty much what I had although I excluded Alba because I can't verify they still own it. The issue is that SVE always trades at a discount of 40-50% to NAV. It's silly given that GGP is relatively liquid and is 90% of NAV - point being that they could liquidate it without moving the share price of GGP. And given the SVE portfolio has gone from £19m to ~£32m over the past quarter, the size of the discount should be lower (25% might be more appropriate for now). Same is true of KR1, massive discount (admittedly more volatile portfolio) with massive optionality from underlying private projects they are involved in that will bear fruit in the coming months.