Member Info for Dartron

That is a standard term when issuing options. It is not a for sale sign. A for sale sign would be an RNS titled 'Strategic review'. Just because I3 is cheap, doesn't mean people will want to buy it, as demonstrated by the share price.

What are people expecting from the capital reduction? It only enables them to do something, it doesn't mean they will do something. My worry was that they did this, in preparation of issuing more shares (i.e. no longer have to match the capital required by having more shares). Sorry if this is off the mark, I have not looked in to this much as I see it of no material difference. I really cant see I3 dishing out more cash to share holders because of this reduction. What are they really up to?

Pleased to hear they are reducing debt, though we discussed this a while back, look at all that interest from drawing the full facility then doing nothing with it. Im not sure about these guys in charge TBH. Its hard to keep track of I3, as it is so uninteresting currently.

Someone else has announced that they have taken 10% of APH, but we dont know where the shares came from yet.

Dbay combined hold about 20% from memory.

Whats wrong here? Looking at the bigger picture, this pays no yield. Why would you buy this when you can buy similar trusts and earn near 10% dividend? I hold here, and would like to average down, but that is my exact dilemma. I expect Ill wait for it to bounce before I buy. I would also be happy to cash out at NAV or close, if that suited Dbay.

They might be thinking along those lines and save the fee's of LDG being listed.

It is not such a silly question. There is a real lack of liquidity at the moment. The bid and ask are the best entries on the electronic order book, and this is the part that is lacking. In between the bid and ask, you will get prices of market makers, so as a retail client you will buy within that spread. But normally, on a busy stock, the bid and ask are closer together because there is quite simply more of a market. At the time of posting the spread is 0.1p and there is quite a stack of entries on either side so it has improved. I am expecting a bounce at this level, and it could be that orders will be filled here as the liquidity has been created possibly by stop losses and capitulation. Volume is already higher today than previously so hopefully today is the reversal spring.

Thanks guys, I am a freelancer so use my Ltd company to add the full £60k to my SIPP without any tax at all. We are cash poor and equity rich. I am completely focussed on stopping work ASAP. Within next 10 years for sure, before I am 60.

Regarding GABI, I wasnt as keen on it, due to some of the debts becoming problems, and those being property based. I didnt know about the continuation vote, so maybe ill reconsider. I am not well researched in GABI so you may feel I am wrong to worry there. I did watch some old presentations.

As I am still building up exposure to investment trusts, I have enough others I wish to buy before GABI. Probably a tad more green energy and some global PE. My largest pos is Next energy solar, which ToD also appears to be in. I think it will break out soon, so im quite over weight in it.

Another channel I like for investment trusts is this one:

https://www.youtube.com/@quoteddata7151

Thanks Silverblade! I am focussing on F250 investment trusts, but this is for my pension. I have around 20% in F250's with yields over 9%. Hopefully when the market takes off, these should do a huge amount of the heavy lifting. Could the yields look like 15 - 20% in 3 or 4 years time? Once the Pension is also paid off (just like the mortgage), I could think about doing something else other than working! Glad you saw my post re mortgage. I have a lot of neglected things to put right now on my property, so personal capex will be the same for another couple of years, but it is a nice feeling.

I shall watch the webinar.

PS, in case anybody doesn't know: this weekly podcast is brilliant for investment trusts (and getting off to sleep).

https://www.youtube.com/@moneymakers4754

Is there a link for the webinar please? I grabbed a few today, after listening to some older interviews.

Yeah Bwoy.

Monday 13 November

Team Internet Group PLC Q3 Results

I would say shorts closing would explain many of the jumps on these stocks, though I have not seen any reductions yet of short positions.

I had a go at plotting those lines, I get Jan 4th 2024. Did any one else try it?

Reminds me of when it was thought the world would end in December 2021 (not by me I hasten to add).

https://www.nationalgeographic.com/science/article/111220-end-of-world-2012-maya-calendar-explained-ancient-science

Placing, massive oil leak, or nuclear strike on Canada, that's my guess.

Alternative Income REIT PLC - London-based investor, which specialises in alternative and specialist real estate sectors such as hotels and healthcare - Says net asset value at September 30 fell 0.7% to 83.6 pence per share from 84.2p at June 30, while NAV total return was 1.6%, down from 2.4% in the previous quarter. Declares an interim dividend of 1.425p per share and targets a 5.9p dividend for the year ending September 30, 2024, up 3.5% from 5.7p a year ago.

So the purchase looks like 50% cash and 50% shares. At circa £5M.

Looking back at the HY results to March, they have plenty of money for this:

Over the six months, the group generated £7.9 million of adjusted profit before tax for the year and had a closing cash position of £31.5 million. (H1 PBT was 2.4M ).

Dividend policy is circa 50% of adjusted PAT.

Premier Miton has announced it will buy boutique firm Tellworth Investments in a deal that will increase its assets under management by almost 6 per cent. Tellworth Investments was started by Paul Marriage and John Warren in 2017 and had £559mn in assets under management as of September 30. The initial consideration for Tellworth will be based on assets under management at completion. According to the announcement, this is expected to be £5.5mn - although it could vary between £3.5mn and £6mn depending on AUM at completion.

The initial consideration will be 25 per cent as cash and 75 per cent will be in Premier Miton shares. The initial consideration for Tellworth will be based on AuM at completion. At the current AuM this will be £5.5m but this can vary between £3.5m and £6m depending on AuM at completion. Initial consideration will be payable 75% to Paul Marriage and John Warren (the "Continuing Shareholders") (this 75% will be split 25% in cash and 75% in PMI shares) and 25% in cash to the Exiting Shareholder. The consideration shares issued to Continuing Shareholders will have selling restrictions, namely 25% must be held for one year and 75% must be held for two years (from the date of completion).

There will also be 25 per cent in cash to the exiting shareholder, who is BennBridge Hold Co.

Mike O’Shea, Premier Miton's chief executive, said the acquisition would give clients access to an “even broader range of UK equity investment solutions”. The proposed deal was announced on Wednesday (November 1) and is expected to complete early next year. The Tellworth Investments business is due to transition onto the Premier Miton platform in the second half of 2024. O’Shea said: "We continue to explore inorganic opportunities alongside our clear organic growth strategy, and are pleased to announce this new acquisition, which we believe is complementary to our existing business and further strengthens our longer-term growth plans. “Tellworth’s existing presence in the institutional market will further strengthen our distribution strategy as we look to grow our footprint in this market.”

Helme Harrison, CEO of Tellworth Investments, said the two firms have a “strong cultural fit”. She added: “Premier Miton recognises the value of both our brand and our longstanding expertise in uncovering mispriced opportunities within the under appreciated UK market.” Peel Hunt analysts said AUM diversification “appears positive” for Premier Minton and earnings accretion is “helpful” in a period of negative flows. The move was welcomed by Darius McDermott, managing director at FundCalibre, the fund ratings agency.

Long-term income U.K. real-estate investment companies were the darlings of their sector during the low interest-rate era, raising plenty of cash in their initial floats, but the proposition for shareholders today is very different, Berenberg says. Long-term income REITs generally provided investors steady dividend income but underdelivered on promised dividend growth, and some reinvention is now required, Berenberg analysts say in a research note. Although growth prospects are limited and share prices are likely to remain discounted, the market may have overreacted in some instances and there is some value on a medium-term basis as interest rates start to peak, the German bank says. Berenberg starts Assura, Primary Health Properties, Tritax Big Box and VIP Property at buy, and LondonMetric, LXI REIT and Supermarket Income at hold.

Get the feeling shorts are covering.

GLG Partners LP 0.64% 20 Oct 2023

GLG Partners LP 0.78% 13 Oct 2023

GLG Partners LP 0.87% 24 Aug 2023

BlackRock Investment Management (UK) Limited 1.49% 10 Oct 2023

BlackRock Investment Management (UK) Limited 1.54% 26 Sep 2023

We are currently looking at a golden opportunity to buy investments in my opinion. Adding to ones pension now is going to achieve great returns in the future, now you can buy yields around 9% today. Im focussing on non AIM investments currently to increase exposure, as the better yields seem to be the investment trusts of the F250. I plan to keep hold of any yield above 7% indefinitely, as that would be enough for me to achieve my pension goals which are about 10 years away. I consider Epwin an income stock for now, my yield is around 6% here as I paid more for mine. Eurocell I would say might be an exception for me to invest in, as It could fit a PE take out. Even that pays a decent yield of 8% (though that could get cut in the short term). I think the strategy for me is partition my pf between income and growth, and ringfence the income side and all returns for continued income. The growth side needs to reduce a little in % terms. So I need a winner before I can buy more AIM or small cap. Lol. I could be on that cruise ship within 10 years, it is entirely possible.

Here is a good resource to see about the industry, and in this example we see the diversification of Epwin. Holiday and park homes are another of those things immune to the current economic climate. Most holiday homes have to be removed once they are 20 years old etc. There is a waiting list on many holiday parks, as it is really a pursuit of the retired, who seem not to be suffering from the economy at all. Large market for second hand homes abroad, so many are replaced early.

https://www.windownews.co.uk/luxury-lodges-excel-with-optima-and-stellar-from-epwin-window-systems/

I have followed these firms very closely. I have been invested in EPWN for over 2 years. I did try SFE as I thought it might have got saved. No question that SFE is a valuable business, but the mechanics of administration mean that shareholders can not benefit. I sold out around 2.5p. Back to EPWN, yes they face similar headwinds to Safestyle perhaps a drop off in demand, but there really is no further comparison between the two. Safestyle sold to consumers, and were one of many. Epwin are a manufacturer and sell to businesses and consumers. Epwin have a much wider range of products, like decking for example. They also own a recycling business. They have plenty of cash (headroom) and yield about 6% dividend. Epwin is a real gem as far as I am concerned.

Regards competitors, there was another manufacturer that went out of business last month, and I think this contraction will thin down the number of players quite drastically. However, Safestyle will most likely continue but it will be privately owned. The other one to watch is Eurocell who I think are real innovators in this space. I hope to get some of those shares too. Both of these companies have exposure to house builders (new builds) where as Safestyle did not.

I am a buyer of these companies even if they go down in price, as the business model is sound. I think Epwin dates back to the 70's as a company.

It does have something to do with Textiles. The pharma company is a subsidiary of the main conglomerate, which is mainly a textiles company.

"Beximco Pharmaceuticals Ltd also known as Beximco Pharma, is a pharmaceutical company in Bangladesh.[2] It is a part of Bangladesh Export Import Company Limited (BEXIMCO).[3]"

According to Morningstar, Beximo (parent company) still owns stakes in it, though it gets a little complicated unravelling it. They have clearly spun it out, and what I was getting at before, was why did they do this, and why list it on London.

Maybe worth doing some digging? What is so great about it, that these shrewd operators got rid of it?