Member Info for JammyC

I suggest others watch the presentation for themselves and do their own research but it has been stated clearly numerous times the 1m was a one off, but again why let facts get in the way of your agenda?!?

Forensic (or not so)... Do Mano have any lunch of their own to eat at the moment with an extension to government measures?

You ask the question regarding why not just invest in Burford but you forget that Lionfish is just one component of the group. At the core is RBL, who have shown impressive YoY growth for a number of years and also Convex, who should show impressive growth from an upturn in M&A activity. This is a diversified, high margin group of businesses with a number of cost synergies.

A very good presentation in my opinion. It was the first time that I had heard Tets speak. Should anyone want to watch it can be found here:

https://www.investormeetcompany.com/investor/meeting/introduction-to-litigation-finance

Will they continue beyond September? If so, how many holders here can be afford to be patient while the well paid lawyers are paid to bring board games into work to relieve their bordom? With Cooklin normally so keen to stress cases only taking 11 months to conclude, you have to wonder where the money will come from if there are further delays?

The bizarre thing with the Mello bash was that Bruce didn't even mention Rhodium or Iridium, it was all about Platinum and having lower costs than the larger producers. Bruce was once again the weakest link on the panel imo. It was actually Jack who introduced Rhodium into the debate. Where you detail he speaks of all being aware of SLP I think he would mean all stokopedia subscribers and he is probably right as he and stockopedia have brought it to their attention. I'm sure the majority of Advfn and LSE users won't be aware of the metrics available here at the more than reasonable price

The slide deck and others from the CMD earlier today can be found here:

https://www.rbgholdings.co.uk/investor-relations/reports-documents-and-circulars/

... Especially if you face new competition from LIT and RBGP when insolvency raises it's head once again (be that in a couple of months or years)

https://wp-rbgholdings-2020.s3.eu-west-2.amazonaws.com/media/2021/02/24110645/2102-LFLF-Capital-Markets-Day-v7-Final.pdf

I'd strap in for the chancellors budget announcement and look to see whether he continues the current insolvency measures. With the average case here completing in 11 months, I wouldn't be getting carried away just yet!

I haven't done the maths but did Google before/while Laconic posted and came up with same 1.7 billion dollar figure. As pointed out there is also Eton in addition and that figure would likely only be an absolute minimum acceptable settlement figure. I'm guessing but it would make sense that any buyer stipulate that an agreed settlement couldn't be less than the pro-rata they paid. More likely in fact that they would stipulate a margin but I'll let others speculate on that.

Yes, MANO should be a very good recovery play but they are a pure insolvency case funder/buyer. BUR, LIT and RGBP's Lionfish invest in a broad range of commercial litigation so don't have all their eggs in one basket. They aren't reliant on insolvency and at the moment because of measures put in place there is very little insolvency. That will change but when? It's cheaper to retain jobs than it is to create so I can't see these measures stopping in April. The government have posted an update permitting an extention and it would be politically unfavourable if they were to but undue pressure on these business and jobs. Better to prospone the inevitable imo until when its someone else's watch. We saw with BUR the SP fall considerably below NAV and while I'm perhaps too attached to BUR I'm not prepared to go through the same suffering with MANO. There's a lot of opportunity at the moment brought by the prospect of inflation like the commodities supercycle and the rebound of travel/hospitality following covid. We each have to make our own decisions but I'd much rather recoup my loss by exploiting current trends then wait for a year or so for insolvencies to return. That's my thoughts and how I hope to play it so that will most likely mean the opposite will occur and MANO will be £12 by the end of next week!

I know it's already a win for Burford but can anyone remember the break even figure for those that bought stakes? I think that would indicate the lowest value Burford would accept as a settlement.

I sold out of MANO at a loss as fearful of government measures continuing beyond April. Good for business and the economy at large but not for Manolete! I've still got my full holding here and In RBGP and LIT as they are more diversified. Have recently been buying PGM miners and finers and also Saga. Liked the idea of having a strong recovery play but wasn't sure about TUI, preferring to go with the older demographic being first in the que for vaccines and having the funds. Anyway, apologies, off topic!

Thanks TWT. After rereading I see you provided the translation. After reading Gtx's post I thought there may have been more

Interesting. I've just been through Sebastian Maril's tweets but couldn't see a reference to settlement, although admittedly I don't speak Spanish! Do we have a translation of what has been said?

Agree with gtx that discovery would likely needed to be completed first as both parties will be along way off in thier ability to accept the others projected valuations due to each having various stakeholders they need to keep happy

@Forensic If you read my posting history you will see I have not always been bearish towards MANO and I am certainly not a hired troll as you suggest. I've seen you level the same accusation at others when they have also been bearish and have reported them for their removal. Pathetic imo. I was a holder and bought more on the day of the drop as know that the company is very good at what it does. I sold on the announcement of the CEO selling as was concerned at the reasoning and a prolonged devaluation. At the moment it seem seem that was a mistake. I watched the presentation and even advertised it here prior to my sell. I feel disappointed with the company's communications and wish the reasons given for the CEOs selling were communicated in the RNS. If they were I wouldn't have sold. That said the money from the sale of my position has been placed elsewhere where I hope it will grow. My somewhat selfish hope now (but also benefiting the wider population) is that Rishi extends measures for another year - a likely and downplayed scenario. I will then gladly buy back when the SP is nearer book value as believe current holders will also sell to redivert their funds to more active parts of the economy. Opportunity cost is a cost after all.

Pita you can't edit posts. C&p error.

There are lots of interesting sessions and each show lasts 3.5 hours but for those with limited stamina all annual pass holders and individual ticket holders will get sent the recording 24 hours later once you have registered.

We do have at least another 15 Mello Monday evening webinars already planned for 2021 and lots of bonus Mello Tuesdays too... if you would like to make the most of these during lockdown then I really would recommend buying an annual pass for just £85 (if you buy before Sunday at midnight) so to get £10 off an Annual Pass use code MMAP0802.

Alternatively if you want a half price ticket just for this show on Monday and maybe want to 'try before you buy' an annual pass then please use this code MMStocko21 and it will be just £9.75

See you all on Monday. We start at 6pm

Cont.
Mello Monday is almost here again now they are every fortnight....As ever this Monday there will be Interviews with leading fund managers and investors, three company presentations, educational insights and two panel sessions all in one action packed evening show..

This Monday we are joined by the very entertaining and knowledgeable Stephen English an IHT specialist fund manager who has presented on two occasions at our Mello conferences. This time he will be interviewed on how he sees the markets and there will be the opportunity for audience Q&A

There are also short presentations from Primary Bid and Barry Gamble who is on the Soap Box plus three company presentations and a very interessting and educational Twitter panel session to assist investors who want to engage with and know the best way to use Twitter. Here is the full programme....

6.00 pm Mello News
6.05 pm Interview with Fund Manager Stephen English
6.35 pm Barry Gamble is on the Mello Soap Box
6.45 pm Hummingbird Resources Company presentation
7.15 pm Introduction from Primary Bid James Deal
7.25 pm Open Orphan plc Company presentation
7.55 pm Are you engaging enough on Twitter? Hear from our Twitterati panel @reb40,
@grahamneary, @shiftingshares, @1James1n1
8.15 pm Image Scan Company presentation
8.45 pm Mello BASH including the Fund Manager Stephen English, Jack Brumby from
Stockopedia, Bruce Packard and Kevin Taylor

Every Mello Monday ends with the very popular MelloBASH (Buy, Avoid, Sell or Hold) on Monday Jack Brumby who does the SCVR will be on the panel. He will also be joined by Bruce Packard who was a sell side research analyst and regularly attends our Mello events. regular panel member Kevin Taylor and our fund manager guest Stephen English.

You can see the full programme and recordings of some previous shows here
https://melloevents.com/mellomonday-8th-february-2021/
We will have three top quality company presentations so you will be able to get involved in the Q&A sessions that follow each of those.

It looks to me like it's a Bash (Buy, hold, sell, avoid) presentation by a PI rather than a company presentation. I'd fully recommended it though even at £10.

Mello Monday is almost here again now they are every fortnight....As ever this Monday there will be Interviews with leading fund managers and investors, three company presentations, educational insights and two panel sessions all in one action packed evening show..

This Monday we are joined by the very entertaining and knowledgeable Stephen English an IHT specialist fund manager who has presented on two occasions at our Mello conferences. This time he will be interviewed on how he sees the markets and there will be the opportunity for audience Q&A

There are also short presentations from Primary Bid and Barry Gamble who is on the Soap Box plus three company presentations and a very interessting and educational Twitter panel session to assist investors who want to engage with and know the best way to use Twitter. Here is the full programme....

6.00 pm Mello News
6.05 pm Interview with Fund Manager Stephen English
6.35 pm Barry Gamble is on the Mello Soap Box
6.45 pm Hummingbird Resources Company presentation
7.15 pm Introduction from Primary Bid James Deal
7.25 pm Open Orphan plc Company presentation
7.55 pm Are you engaging enough on Twitter? Hear from our Twitterati panel @reb40,
@grahamneary, @shiftingshares, @1James1n1
8.15 pm Image Scan Company presentation
8.45 pm Mello BASH including the Fund Manager Stephen English, Jack Brumby from
Stockopedia, Bruce Packard and Kevin Taylor

Every Mello Monday ends with the very popular MelloBASH (Buy, Avoid, Sell or Hold) on Monday Jack Brumby who does the SCVR will be on the panel. He will also be joined by Bruce Packard who was a sell side research analyst and regularly attends our Mello events. regular panel member Kevin Taylor and our fund manager guest Stephen English.

You can see the full programme and recordings of some previous shows here
https://melloevents.com/mellomonday-8th-february-2021/
We will have three top quality company presentations so you will be able to get involved in the Q&A sessions that follow each of those.

Slush - If it were happening in the Argentine courts I think we know that there wouldn't be a case - Kirchnerism wouldn't permit a hearing. Thankfully the US courts are fair and more transparent. It is worth pointing out that while the case is delayed a NY standard interest rate of 9% is likely to be applied to any favourable settlement.

@Jane - That wasn't my reading, I understood it to be aimed at Slushycat who had repeated your points. I think it is you who needs to read others people's posts more carefully. That said, I also think you make some high quality posts and hope you continue to do so.

They are already managing 2 third party funds. A 3rd was scheduled to be announced in December but still hasn't been announced. Interestingly when Burford where saying they had experienced a slowdown they were reporting business as usual, yet there is a delay in the 3rd managed fund that was to be announced when the 2nd fund reached 75% commitmrnts. Read into that what you will.

Their IRR and ROI metrics are actually better than Burford's but they operate on a much smaller scale and admit that these will deteriate as they grow. They seem good value, and I hold, but SP currently appears to be trending down, after a rise and there is a known big seller. They seem very much in the shadow with Burford being the market leader but don't have the baggage of a huge outlier.

I see where your coming from and only bought in this and last week. I can well see the encouragement to remain in the UK - but think it could well be extended to cruise ships. If only vaccinated and tested Brits are on board what's the difference if a tour to no where? Other than increased piece of mind and sunshine? I think demand would easily outstrip supply.