Epe Special Opp Share Price (ESO)

Agricore, thanks for the update. LUCE updates was telling on the UK in general this year!

Mr Flibbles, you'll be pleased to note then that the discount has narrowed to "only" 40.2% today = £3.68 NAV vs £2.20 buy price.

The less positive news is that NAV has dropped by 19% from 31/1/22 to 30/4/22. Though, to be fair, the FTSE all share is down more than this.

I'm neutral on the prospects here; while these are turnaround plays they are also reliant on growth. It's debateable whether a reduction in discretionary expenditure could affect some holdings..... or am I regurgitating the general negativity and we are just talking ourselves into a recession!

The positive is the past 5-year 10-year track record which is extremely good.

As of 26th March 20022, ESO sits on around 45% discount and the Fib 0.168 retracement level.

I am sitting on a hefty and large loss, looking forward to a bounce and brighter future. *Could* easily be multiples of the current share price.

Thanks for that post -a very detailed analysis.

The price dropped dramatically because their biggest holding Luceco, had an accounting issue..and the Luce price cratered, and dragged ESO with it. the FD left because there were issues about stock and margins from China. Now fully resolved and share price of both around all time highs. As has been pointed out previously the current SP is covered by value of the Luceco holding and they have a lot of net cash. A discount to NAV approaching 30%..but there is the question of where the Luceco SP should be. Luceco holders should arguably switch from LUCE to ESO, but there are liquidity and dealing spread issues. Question has to be what do they do with the cash? More share buybacks or actually buy another business? They are always looking for a good deal..but there is a lot of fund money looking for good investments...