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The Half Year results this year are a full month earlier than last year, both in regard to the announcement date and the reporting date. This sounds like a strong message of confidence in the reporting to disclose. Remember also that three non executive directors all made share purchases which were significant relative to their non executive income.
Pennylots, Thank you TWT for info. I have just transferred my dividend into capital account, and has now incremented cash available to invest. In your HL account (SIPP or whatever), click on the cash tab, in this click on the dividend income line, and you get a screen allowing you to check a box to transfer to capital account and confirm. Then return to account summary, to see the change implemented.
I appreciate the analysis of benefits of YPF settlement by GTX1, on Thursday. Remember though that Burford need approx $1.3m to cover the book value carried in the accounts, anything above that amount would be subject to incentive payments and tax liabilities. Even taking that into account, the net benefit should be substantial, and it still appears to be ignored by the markets.
Pennylots, I am with HL, my dividend arrived on 17th June as expected, and was posted to cash on my SIPP and ISA accounts, but did not yet add to amount available to invest. I not sure when that occurs but it doesn’t bother me as I’m not investing further at this point, though Burford still looks a great investment opportunity.
Chris Bogart reaffirmed case gains model. About share price, which currently broadly reflects nav, with prospective gains and fund management fees exceeding $2.5bn to come, plus effectively a free lottery on YPF gains.
Burford has looked at it expected outcomes from the cases in progress (excluding YPF/Eton Park) and anticipates gains of $2.2bn. Their are unrealised gains already recognised in Burford balance sheet of $890m of which is mostly the $727m on YPF, these together with some consolidated third party interests not part of Burford itself comprise the $1.3bn.
The $2.2bn gain at 137% of costs committed is strong but expected given large cases underway for results will be boosted by covid delays. The management must have high confidence in this disclosure.
Prospects look very good, and with a good YPF settlement would be brilliant.
Renegrade, thank you for updating on USA disclosed short positions. UK positions now only 1.2%, and easy to find.
My favourite page on this site is under the Share Price Tab, as the information you see is a general view of share price, company summary, interday share price movement, 3 month share price chart, summary of trading data including volumes bought and sold, table of recent trades, 1 year of director deals, and finally 5 recent posts. Furthermore that page has over a dozen tabs with additional information including UK short positions.
Currently only UK short position is Gladstone at 1.2%, as nothing is now shown for Kuvari. Which is as reported by the FCA report of reportable positions over 0.5%
The trading update on the 15th February relates only to activity in 2021, during which the Akhmedov matter was the only significant cash settlement. Note that this update specifically mentioned no significant fair value adjustments for 2021. I would expect the publication of final 2021 results to comment on 2022 only in respect of matters already settled.
Two odd features in the analysis of trades today on LSE.
There was a large trade occurring before 10am which caused the significant price jump at that time. This trade of over 160k shares at £7.20 was not listed until 11.43am, at which time the SP was nearly £7.30, so LSE attributed this as a sale. As the SP never fell below £7.25p it seems more probable that it was indeed a Purchase.
Late in the day there was also significant purchase activity, being purchases of 81k, 46k and 100k. (oddly the 100k was placed, cancelled and then replaced - all at the same price of £7.31624).
All round a really good trading in the UK with 4 major purchases totalling over 380k shares.