The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I'm no investment guru but if someone were offered the choice of shares or money, and they took shares every time, I would guess it's because they think the shares will be worth more, but ymmv.
Cryptic. Eliot & Luther are based in Singapore, as is Aaqua....
4 Directors also bought shares in the Jan 2021 equity fund raise, subscribing for shares at 5p.
This was conducted via Primary Bid so retail investors also had a chance to subscribe.
This raise was at 5p so PIs would be better off buying at today's prices.
Seems to be pushing up by 1p a day for the past 5 days.
Some accumulation? Or just alleviation of some downward pressure?
So they take shares instead of a salary?
Sounds like a purchase to me. They could have taken the money instead.
The flaw in your argument is that the board don't get given free shares, they subscribe to the fund raising and pay for them.
Any shareholder can buy more shares following a placing to keep their %age holding the same.
In fact at today's prices, you'd be able to get a better deal than the board have done in the past.
I'm in favour of this bargain acquisition which fits in perfectly with Inaphaeaeaea.
The only caveat is that if Suzy had been charging Theorem a £10k per month exclusivity retainer fee then this would have been essentially free.
The rise is less surprising than the recent drop :)
I'm certainly expecting good things from the next update.
Nothing really the company can do if 2 big holders decide to dripfeed sells to fund other ventures.
Nothing wrong with the investment case imo, just need to be patient. You'll be able to tell they have stopped selling because we'll see some decent rises.
You can sell out if you're frustrated, you can try to time the market to get back in cheaper, or you can be patient and wait it out. PIs are always the last to know when big drops/ rises are going to happen, so the best weapon we have is patience. It's not easy to watch this drop 1% every day despite buybacks and Royde's purchases, but one day the share price will be 200p+ and I want to be sat on a big profit when it does.
ITX projections look like FY 2023 being breakeven and FY 2024 being profitable. By the time ITX is profitable, the share price will be much much higher than 5p.
When that price rise happens is subject to debate, economy, company sentiment, market sentiment, etc...
If people are patient they will be well rewarded. If people wish to try to time the market then they are free to do that but risk missing out on the up days.
There's no way this is closing 40% up in the current climate. This won't even close at 6p. I'd be happy with an "up" day.
I have very high hopes for ITX but I'm aware that many companies in my pf are in a similar position of dealing with the global uncertainties.
I've been in ITX since 2018-19, at an original price of 1.3. I didnt sell anywhere near enough at the peaks, and went large over the past few months with an average price of around 4p.
So many impatient investors on here! If there are no fireworks this time, then there never will be!?
Supply chain issues, Brexit, inflation, cost of living crisis, lack of stable UK government and general market fear have contributed to an environment where people aren't confident in investing at the moment.
There aren't really any UK listed companies that have fireworks at the moment. Look at the recent excellent trading update from YU. It is still very undervalued by the market.
If you think this is a binary play of fireworks or it's never going to happen, then perhaps you're better off staying in cash until the next bull market.
ITX are still undervalued imo and I am expecting a generally positive update, with one eye on the future and one eye on managing current trading headwinds. ITX have a history of underpromising, which is a trait I prefer in management.
The relentless downward pressure can be frustrating, but unless the investment case changes then there is no need to do anything but sit tight and be patient.
Easier said than done, of course :)
My bad, I missed that one. Either they know something I don't or they're going to regret selling... I hope it's the latter!
The 23rd Jan RNS covers Horst Siffrin selling and states they have no further intention of selling and agree to a 90 day lock-in period. This was already untrue when the RNS was published because there was a further chunk of shares already sold that wasn't declared in this RNS.
Dayani's RNS on 5th April doesn't mention whether he intend to sell further or not.
But it's still a screw up from the board with the lack of communication.
Great prospects for the company and a great entry price but it's surely putting off potential buyers wondering just how many shares the big guys have left to sell.
And I would guess that without that lock-in period agreement then we are seeing plenty more sells from Horst. The previous statement in January that he had no intention of further sales was clearly not true.