The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Antelope, I wholeheartedly agree that an asset sale will bring about a re-rate. The reason this is currently trading at a discount to NAV is that the BoD have failed to produce one in all the time they've been feeding their investees, coupled with an almost belligerent contempt for shareholders in their liberal issuance of shares to forward selling bucket shop financiers (never once producing a TR-1) and a point blank refusal to publicise the genuine and documented advancements of their investees. I do hold a reasonable sized chunk of Tern in my portfolio (by far the worst performer, the only underwater share in my portfolio surrounded by triple digit percentage profits) but in hindsight I should have cut out when I broke even around 1.5 or anywhere above and topped up or diversified my portfolio because the 100% consistent failure record here is evident to anyone.
As Maarleck says, it was confirmed that there is no contractual 10% bonus for the BoD. The independent remuneration committee will evaluate the situation as and when. My interpretation was that a shareholder distribution would occur, but I don't believe it's at a set percentage of sale proceeds.
From portfolio update RNS...
Tern's management will be hosting an online presentation and Q&A session regarding the latest developments with the Company and its portfolio at 5.30 p.m. GMT on Monday 23 November 2020. This session is open to all existing and prospective shareholders. Those who wish to attend should email tern@investor-focus.co.uk and they will be provided with access details. Participants will have the opportunity to submit questions during the session, but questions are welcomed in advance and may be submitted to: tern@investor-focus.co.uk.
Hi all, I've not been able to keep an eye on the markets for a little while. Is there any update or at least a date by which one is due on the legal action? I'm reasonably confident of a +be outcome for eqt but nothing is guaranteed 100%
No need for an RNS. Wyld is a private company, although it's now clear from their joint webinar with NHS that they are growing exponentially, Tern only realise value from this on an asset sale. It's normal practice for a VC fund, but most AIM investors not accustomed to it.