GCP Infrastructure Investments Share Price (GCP)

Had a listen to Phil Kent's interview last week. Nothing major that is not in public realm as you would expect. Couple of interesting snippets though. It looks like the supported living sale is getting close - with a preference to sell the portfolio to as few investors as possible. There may be a link with the wind down of the GABI business also managed by Gravis - who are selling one of their largest accommodation holdings (Old Oak Collective) to private equity firm Henderson Park. On the assumption they can sell the supported living portfolio - the average duration of remaining loans falls to 7 years (it is currently 11). GABI was 4 year average when shareholders voted to wind down. No mention of current buy back being on hold - but likely they need to sell assets prior to commencing again at scale. Net debt at 31st Dec £20m. SB

Eat again...

3rd day in a row with no buybacks. Bit unusual given scale of recent activity. Possible 30m shares was the target. Or on hold for now. SB

Another 2.58m buyback shares picked up last week - c.76p average - just under £2m spent. Look like they are having a serious go at this. If this continues at this pace - real savings to be made in dividend payments (accepting income from investments will also decline) and a potential increase in NAV; which alongside the reduced interest payments on the debt facility and further risk weighted asset sales in H1 should start to flow into increased positive sentiment. Can't influence the ongoing financial issues (Inflation; debt, budget, interest rates, yields) at UK government level. SB

2.3m shares purchased this week under the buyback programme - c.£1.7m. A noticeable increase in scale. Will be interesting to see if this pace continues - the company still has significant funds to deploy based on its £50m commitment - accepting it does not have all that in cash yet. SB