Member Info for APAcquisitions

Interim results broadly in line with expectations, with positive effect of Seymour Pierce acquisition expected to show in current full year with full effect seen in 2014. Net assets plus cash on hand equivalent to £21m compared with £14m currrent market cap. So, at these levels you're getting a company with about 87p per share of assets for a 33% discount (so 50% potential upside) and the business thrown in for free. Good value on a 6 - 12 month view.

Tipped last week online in IC with 140p target. Anyone have thoughts on this?

I think a lot of us assumed that when the Hyperion deal was completed there would have been some sort of share buy-back or special dividend. By my reckoning £29m from Hyperion is £1 for each of the 29m shares in circulation. So e.g. 30p special dividend would have been quite affordable. Still a good company so what have they got in mind with the proceeds?

ST continues to rate this a buy with target of 160 against NAV of 189.

If I buy shares tomorrow will I qualify for the 15p distribution?