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Interesting to hear - thanks 531. When I considered buying today I thought it was more likely private investors selling than say insiders forewarned. It is possible the trade after hours is someone buying the spare from today at the end of day auction. Trading view has the results due out on Tuesday, not sure if that is based on anything accurate (Most companies do announce in advance when this will be, but does that work down at Sunday pub league?).
Poor treatment of investors here for sure and sets the tone as rather unprofessional.
In the period being reported the company has paid out £12M as a final dividend. Looks like there was some 'one off acquisition costs too. I dont see what bearing the equity has on the front end sales of the company, Clearly growth has slowed, but according to them they expect more in H2. Its a hold from me, though I managed to sell a few this morning in my trading account for less than 1% profit! (I have actually done well here recently, buying the dip twice and selling all the way up to £4).
"The Group's net cash position was £16.1m as at 30 September 2023 (31 March 2023: £59.2m), reflecting the normal H1 timing of payments, a further £18.6m of acquisition consideration payments, including £1.7m of employment-linked amounts, and the payment of the £12.0m FY 23 final dividend in the half. During the period, the Group also provided £3.8m funding to Alpha's EBT to purchase 1,033,954 shares at the prevailing market share price. These shares will be held in the EBT, a discretionary trust, and are intended to be used to satisfy future exercises of share options by employees, including the Directors of the Company. Alpha was drawn £10.1m on its RCF at 30 September 2023, to assist with managing currency requirements in the period. "
The Board is pleased to declare a maintained interim dividend for FY 24 of 3.70p per share (H1 23: 3.70p), which will be paid on 21 December 2023 to shareholders on the register at the close of business on 8 December 2023.
An activist could instigate a sale, or similar. Somebody more proactive about unlocking value here. Somebody who would be a large holder which the BOD are not, so would be more inclined to get things done. This is the trouble currently the BOD will be more concerned about their jobs than the share price. Activism is rife in the investment trust sector right now, due to similar discounts.
There is going to be a raise. Price doesn't lie. Look at the charts for sigmaroc or Jadestone energy, you can see when the phone call went out.
Look at Sigmaroc today, 38% dilution to continue buying assets, just focussed on (Adj)EPS rather than share price appreciation. Now laden with even more debt as well. In hindsight chart the said it all. The Edison note says something like "we think this will be last raise.." Yeah, right. until they cant pay the debt.
I really expect I3 to do something similar (The AGM motions allows them too), its like they need to keep buying stuff to cover up the fact that the stuff they bought isnt working. I guess the raise is going to be 10p or less and pretty soon IMO.
As for the north sea, I want nothing to do with the North sea, and if I did, I would not choose I3e. Never mind all this talk of a buy out, an activist investor would be better, clear out the BOD for starters.
Bigboy, Ideally the share price should have increased with each acquisition. Those who took part in the 54p placing must be feeling like it wasn't worth it*, now the next placing is 20% cheaper. Perhaps that is why it has been such a laggard.
Remember that there is no dividend here, so you capital has just reduced, regardless of what you now own. I also hold breedon at a loss, and that looks like it will get taken out cheap by the Ned who has bought near to 29%.
Last placing in February this year was at 54p, now one at 47.5p. Well done BOD of SigmaRock. Maybe the next one can be at 35p? If you look at the chart, this was obviously common knowledge around the 31st of October, when it made the low of 47p. Is this company ever going to reward shareholders?
Explains the chairman selling - there is always a reason. While he was selling PB was out ramping, knowing reality was different. Glad I sold out back in September, you cant rust this bunch, whether that is deliberate on their part, im not sure. Doubtful TXP has any intention of paying a dividend any time soon, and seems laughable he said he would aim to get in the ftse 250. Cheap for a reason.
This could do anything in the next couple of weeks from zero to 15p. At the high end of mcap, this can just be down to market makers on the day, rinsing idiots out of their money. Typical share like this is always detached from market cap, but my concern here is that the detachment may be the wrong way, as the silence is not inspiring confidence. I feel the company have made this a complete gamble, and it didnt need to be like that.
We are waiting for HY results up to the end of May. 3 days prior to the end of May we had a placing (presumably to plug the going concern hole). I really cant see why these results could not have been released in good time. It does not reflect well on the company that they cannot release these results without taking this to the wire. It also shows that shareholders are not in the forefront of their consideration. What happened up to May is largely irrelevant, so should we expect to wait a further 6 months to know what happened up to November? I will just say again, how disappointing it is that this company could not make itself more investable.
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