Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I bought into TILS, lots of press - how great the products were, loads of RNS's from the Co., share price goes up, then Accustem given as free share. Then no more RNS's, no answers on Accustem, share price plummets - I sold out, took manageable loss, then they de-list from London market. Still silence on Accustem until their Corporate action blurb on ii.
I have 3202 ordinary shares, so 1601 ADR's worth last night $0.02, so worth $32 but the conversion fee of $0.05 costs $80.
Then there's a line saying Stamp duty of 1.5% (on what ?)
Then another line 'ADR's MAY be subject to ongoing charges...may be
I think the best thing I can do is absolutely nothing, I don't trust a single word of either so called company.
This is I think a typical AIM con job, they drove the price up, sold and pocketed the money, and now trying some kind of con in the US.
I may be wrong as I don't understand what has gone on and still don't so I'm happy to be corrected.
One of the hottest stocks, a real winner so far and yet no interest here!
I came here to see views on yesterdays drop in SP however...
I wonder if anyone has an idea of the date it will list.
Thanks in advance
err, none after 2018
anyone know next results due?
Why they behave like barrow boys - anyone's guess, this OTC for Accustem is really the last straw, unregulated 'traders' who have no oversight of a controlling body can do what they like.
I doubt everything they say about all their products - liars and con artists in one area stains their whole operation, you would think they'd know that, they obviously don't care what the market thinks of them...
I've held BUR shares for 4 years, buying when I could afford to, so my average cost of shares is over £14, so losing about 47%.
Ever since the MW attack the SP has been severely depressed, usually very low volumes of trading. It's the worst share I have ever had. The main interest seems to be the Peterson/Argentina case which I doubt the Argies will pay up. No news on any other cases. The SP stuck in a rut, not surprising the market shows little interest. Any thoughts on how next results will be? By now they must have had quite a few cases close to BUR's advantage. If the results are poor - I dread to think what the SP will be. People say forget the noise, day to day movements but it's been 2 years of a low rut.
If BUR treat their clients as badly as their investors - which I'm now beginning to wonder, it would explain the SP debacle.
You'd think that lawyers and bankers would know better, but then they haven't got a bad reputation for nothing...
They have gone from hero to zero to coin the popular phrase...
If anyone can give a breakdown of what happens next it would be good to know, then maybe we can speculate about the timing if the TILS Board can't be bothered to inform us.
Hi Rokerpark68, you echo my views completely and like you I sold out yesterday although I sold the lot. The Co. now has all the hallmarks of a bad AIM Co. Maybe the products are good, but the debacle of Accustem and the SP girations and lack of news when things go wrong left me no choice. If things change I may invest again..
GLA
Thanks youonly, that clarifies things re: reporting. The volumes have gone way down here (UK) again but as we are another 10p up it does look like the major action is in the US, but good to see buying here, I hope the road from the corner we have turned is a long one. And even if the Reddit crowd are a bit flaky I'd welcome their buying in.
I can't understand why there are no dates shown on this BB and on BUR's website for next interims. I think they have to report each quarter in the US but not absolutely sure of that, if they do, then is that published in the UK or their website? If anyone knows I'd be pleased to read what's what. I don't know either if the Reddit crowd ploughed into buying BUR in the States, that would account for the very unusual SP leap North, and of course by the Directors buying initially. It feels like some people are 'in the know' about a positive event about to happen YPF? a bit early for that I think unless the Argies settle out of court. Maybe another case...The next results and news will be hotly waited, but when?
Think unless that SP goes north, we shareholders should employ the Don to make an offer the Directors can't refuse.
My spaghetti is ready,
Happy Easter - you kidding pal it snowed this morning!
Rating Action: Moody's upgrades Burford Capital's long-term senior unsecured rating to Ba2 from Ba3; outlook is stable
25 Mar 2021
New York, March 25, 2021 -- Moody's Investors Service, ("Moody's") has upgraded to Ba2 from Ba3 the corporate family rating of Burford Capital Limited (Burford), a New York based litigation finance company, and the backed long-term senior unsecured ratings of subsidiaries Burford Capital Finance LLC and Burford Capital PLC. The outlook for the issuers was revised to stable from positive. Moody's has also assigned a backed Ba2 rating to the senior unsecured notes to be issued by new subsidiary Burford Capital Global Finance LLC and assigned a stable outlook.
Upgrades:
..Issuer: Burford Capital Limited
....LT Corporate Family Rating, Upgraded to Ba2 from Ba3
..Issuer: Burford Capital Finance LLC
....Backed Senior Unsecured Regular Bond/Debenture, Upgraded to Ba2 from Ba3
..Issuer: Burford Capital PLC
....Backed Senior Unsecured Regular Bond/Debenture, Upgraded to Ba2 from Ba3
Assignments:
..Issuer: Burford Capital Global Finance LLC
....Backed Senior Unsecured Regular Bond/Debenture, Assigned Ba2
Outlook Actions:
..Issuer: Burford Capital Limited
....Outlook, Changed To Stable From Positive
..Issuer: Burford Capital Finance LLC
....Outlook, Changed To Stable From Positive
..Issuer: Burford Capital PLC
....Outlook, Changed To Stable From Positive
..Issuer: Burford Capital Global Finance LLC
....Outlook, Assigned Stable
RATINGS RATIONALE
Moody's has upgraded Burford's ratings to reflect the company's success in improving its governance, partly in connection with it listing on the New York Stock Exchange in October 2020, as well as the company's strong operating performance during the economic downturn, continued strong liquidity and low leverage. The outlook was revised to stable from positive based on Moody's expectation that Burford will continue to maintain its overall strong, though potentially volatile earnings strength, and effectively manage liquidity and capital positions over the next 12 -- 18 months.
The backed Ba2 rating assigned to the new senior unsecured notes of Burford Capital Global Finance reflect their senior priority in Burford's overall capital structure, including the unconditional guarantees of ultimate parent Burford and affiliates Burford Capital Finance LLC and Burford Capital PLC on a senior unsecured basis.
During the third quarter of 2020, Burford completed a series of steps that in Moody's view strengthened its governance arrangements, including changes in board composition that increased the number of independent directors, made to respond to listing rules and shareholder demands. This was in part connected to Burford's listing on the NYSE in October 2020, which subjects the company to the compliance requirements of the Securities and Exchange Commission (SEC). Moody's believes that the improvements provide more transpare
The IC article,
I was going to sell today, now I'm buying small time to average down a bit.
I was impressed by the new institutional investors in BUR.
Burford plays to a new audience
The litigation finance specialist's US listing could affect future dividend payments
From Aim to the New York Stock Exchange: Burford Capital's (BUR) ascent through the equity league tables is the sort of journey bourse bosses like to crow about. Yet with its share price still trapped below the level it first sank to after a damaging 2019 report from short seller Muddy Waters, the litigation finance house is less of a poster child for growth than a warning about market exuberance and volatility.
Naturally, Burford debates the fairness of that characterisation. So too, it would appear, does a fresh intake of backers: since October’s US listing, there has been considerable churn at the top of the shareholder register. After long-term holder Invesco, stateside investors Conifer Management LLC, CI, Coltrane Asset Management and the Texas teachers’ pension fund now occupy the top five institutional investor slots.
Mithaq Capital, a Saudi investment firm backed by the Al Rajhi family, is now the largest investor with 10.5 per cent of the business.
Headline figures for Burford’s first set of full results since its secondary float were well flagged a month ago. “Capital provision-direct assets” – that is, legal claims funded directly by Burford – generated $325m (£237m) in cash proceeds in 2020, a rise of 55 per cent year-on-year. Indirect assets, managed on behalf of fund clients, generated $173m in cash.
Despite apparently limitless options to re-deploy those proceeds – group-wide assets increased to $4.5bn in the year, $2.9bn of which is attributable to Burford’s balance sheet – a record period for cash realisation failed to translate into an increase in operating profits, which dipped 6 per cent.
Management put this down to the cost of subsidising third-party funds today in the hopes of netting future performance fees. Burford therefore absorbs all operating costs, but books around half of each dollar deployed.
After Covid-19 forced a suspension in the dividend this time last year, a final 12.5¢-a-share pay-out is welcome news for long-term holders, though anyone hoping for a formal distribution policy may be disappointed. Management expects to maintain the dividend at its current level, but demand for cash elsewhere in the business and the tax inefficiency of pay-outs for US investors means this will be reviewed “from time to time”.
Highlighting this demand for working capital was a separate announcement of a fresh private market bond offering, to raise $350m for general corporate purposes and on unspecified terms.
Consensus forecasts are for earnings of 138¢ per share this year, 97¢ in 2022, and $2.36 in 2023, when several analysts predict a windfall from the Petersen case. We remain neutral: hold.
Anyone actually contacted TILS management to ask about Accustem listing date?
Off topic, but good article in IC about BUR, I'm a LTH in it - looks a buy now, shouldn't ramp but it's very cheap and safe, they have lots of cash, just got bad publicity - folk don't understand it (Litigation Finance). It's the biggest in it's field, see the RNS's.
Long term shareholders, say over 4 years, can be losing up to about 70% if they bought big just before the MW attack.
It has never recovered from that attack - the market is not usually stupid, the institutions are not buying in - they don't trust it to be a good investment. It's a day traders share, buying/selling on tiny moves getting/losing paltry sums for that effort, look at the volumes on a usual day - tiny, it's all PI's and day traders.
Peterson - Jam tomorrow, it won't happen
On my ii account it has results being published today
Loo pup - toilet dog
Not impressed, tiny volume today
Does anyone here talk direct to them direct?
I can't while in working hours