Member Info for andsoforth

Results in line and largely "steady as she goes", BUT FCF much improved! Good sign?

Another puff out today! I am now worried we a re leading into a disappointment!

Hi Dodger. Contract details were given in a Reach announcement, rather than an RNS. This means the announcement would NOT have any significant impact on trading. The lack of figures in the announcement confirm this. Results are due on 5 August. SNR always put out a small "puff piece" prior to results. My guess is we will see an "in line" statement.

Given they are loosing mandates and staff, the relatively small decline in AuM is quite encouraging. To misquote perhaps this is the end of the beginning rather than the beginning of the end. Happier to hold than I thought I would be!

Thank you Mark.

I tend to agree. This has been pushed on Twitter and Stockopedia for a while, and there was a hint in those places that this update would see another "ahead of expectations". As you say, some can sell even at these prices and have doubled their money. However in the medium term I am hoping for the 390s. This a different, and better, business than it was four years ago when it traded over 400.

Slipping below 317!

These actions re bonuses are very "FCAP" unfortunately! However, once the one-off payments are removed, the business seems to be pottering along nicely. I suspect there are a few selling off or top slicing today as CAV was mentioned positively in a Stockopedia report a wee while back. This will have brought in traders and low-conviction holders. They are taking their profits and moving on.

Well, we tried!

https://www.londonstockexchange.com/news-article/RSAB/tender-offer-update-preference-shares/16562546

Taking no action means exactly that, so you will abstain. These options seem dodgy! Try contacting them. Lloyds gave me three options, those two and to vote against.

...possibly due to discussion of CAV in Paul Scott's column on Stockopedia. Update is due at the end of this month.

Apparently if we can hold above 310, the next stop may be north of 400!

Seems the institutions are happy to let them go!

Today is the deadline for institutions to take up the tender. Tomorrow should see an RNS detailing what proportion are up for it. Interesting day ahead!

This has surprised me! The obvious move is into GACA and GACB, and prices there have risen in the wake of the tender. Sitting tight and voting "No" myself. As you say, other opportunities may arise (about six months ago I moved two thirds of my RSAB elsewhere for a marginally better dividend!!!)

BIRG bought out the Bristol and West prefs at a similar premium, so a precedent has been set. Moving sideways into another pref seems to be just delaying the inevitable. I am not happy. They seem to be offering the 2p extra incentive to vote in favour, but it is scant reward.

Any other holders out there? The tender works out at 124p, payable at the end of July. Anyone have any opinions on which way to vote? Institutional holdings are small, so it seems to me concerted opposition is unlikely.

AUM in the first quarter was only up due to market movement. The "star" manager is going, and taking funds and clients with him. This company is in a solid downward spiral. The dividend is handsome, but is not covered, and is therefore unsustainable. Interim results are due on 26 July, so any action regarding JUP may be better delayed until then. All recent announcements have result in a slippage in price.

Hi Neil. CMCX and HL are in the same spreadbet/brokerage business. The offer for HL suggests the sector as a whole is undervalued, and also that further bids for similar firms may take place. AJB up too, but they also had good results today.

...may push the price here up in the morning.