Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
My take on the mismatch statements about the Brazilian market and OCP was that it was a message to OCP that if they don't offer a decent off-take price then Brazil is an option, brinkmanship. I would guess that there must be some ongoing dialogue between the companies, if only informally.
Take over is a worry but do OCR have a history of takeovers? My guess is they would want to be EMLs only customer to screw down the price and EML are holding out.
Nice jump today, who knows why. The low price doesn't make sense to me but I am biased as I bought in at £1+. Rent collection is very strong, they are focusing on out of London office space, less likely to be hit by working from home. In fact probably benefit as more companies will set up regional offices for in office days.
Private equity investment trusts, best kept secret on the market. 1800 equities on the LSE, the lowest for a long time, 1.6 million businesses in the UK, of course loads are SMEs but that's where the real growth is. With interest rates so low and listing so expensive companies can find plenty of cheap capital without having to go the IPO route. Also illiquid private equity assets are no good for open ended funds as outflows force the fund manager to sell, investment trusts are the best option. Unfortunately the shareholder needs to trust that the valuations are honest, so far I've found that they tend to underestimate the NAV. Members of the AIC, like AUGM, should be safer.
What about "(iii) give the Directors the authority to disapply pre-emption rights". I think this means that EML can issue shares without making sure existing shareholders are given the opportunity. Am I correct? Is this usual?
It will be interesting to read what the fm says, last commenary was 31/1/21 here: https://am.jpmorgan.com/gb/en/asset-management/per/products/jpmorgan-china-growth-income-plc-ordinary-shares-gb0003435012#/commentary
Any ideas on the frequency of these?
These are subscription shares related to CCJI. On 16th February (RNS) existing share holders were given 1 CCJS share for every 5 CCJI share. This gives the holder the right but not the obligation to buy CCJI shares at 161p until 28th February 2023 (RNS), on a quarterly basis. So if an investor believes that sometime over the next 2 years the CCJI share price will be higher than 261 plus this price (so based on today's price 270 a 17% increase) then they will buy this. I'm guessing that some clever institutional investors will plug the numbers into a model and decide they are worth a punt. Holders like me may have to sell at some point before 2023 unless the sp rockets when it'll be good to cash in.
Of course, the AIs and technical traders probably won't know what they are buying.
These are subscription shares given to existing share holders 1 to 5. They give the holder the right but not the obligation to cuy CCJI shares at 261 or thereabouts between now and May 2023 I think. The current share price is 232, so the gamble is whether you think the CCJI share price will be higher than 261 + CCJS price in the next 2 years. So at the moment the question is whether the CCJI share price will rise significantly higher than 270 (16%) within 2 years. I'm sure some sophisticated investment companies will run it through their mathematical models and decide it's worth the bet. I'll be surprised if this bb ever gets many posts.