Achilles Invest Share Price (AIC)

Not much action from the company. Wonder how they are earning their corn

Already in the NAV

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Achilles (the trust) held 10,000,000 Urban Logistics (SHED) shares (≈2.15% of the company) and gave an irrevocable undertaking to support LondonMetric’s deal. Under the recommended deal terms Achilles’ 10m shares converted into a package worth about £15.03 million (≈150.27 pence per SHED share).

My own estimate:

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Cost: 10,000,000 × 135p = £13,500,000

cash Cash: 42.8p × 11m = £4.71m

Value of LondonMetric shares received

On completion (August 2025), LMP shares were ~210p.

So 6.17m × 210p = £12.95m.

Total received = £4.71m + £12.95m = £17.66m

Gross upside £17.66m Gain: £4.16m (+31%)

Arriving in September NAV

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own estimate of price from TR1

10 July – 2m shares

Price: 224p

Cost: 2,000,000 × 224p = £4.48m

1 August – +4m shares

Price: 210p (earnings-day drop)

Cost: 4,000,000 × 210p = £8.40m

Total Achilles position

Shares: 6,000,000

Total cost: £12.88m

Blended entry = 214.7p/share

- Current stake worth £15M at £2.50 per share. (15% increase)

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Not sure what exposure they had to PRS REIT deal, but PRS REIT share price also up in September.

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Adjusting for spire, I get a NAV of 110p. NAV could be negatively affected if new positions are being taken, not sure what if any PRS REIT adds.

Should see in a few days.

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welcome any corrections or additions. I am a holder here.

Perhaps they could start on Oryx or North Atlantic and get their own house in order first ?

Virtually no volume apart big boys building an initial position as per RNS.

Will be interesting to watch this plot unfold.

I’m interested!