Member Info for jlovie

This explains the way trades are published.

https://www.proactiveinvestors.co.uk/companies/news/81/idiots-guide-to-the-london-stock-exchanges-setsmm-0379.html

Any significance in the Smart Metering Systems bid?

https://www.lse.co.uk/news/SMS/smart-metering-systems-stock-soars-on-gbp1-billion-takeover-offer-eob1too76senk5i.html

Scroll down to No.11.

11. Additional Information

On the 30th November 2023, Close Brothers Asset Management sold 3,447,269 shares in VERTU MOTORS PLC ORD 10P. This brought our shareholding to 3.98% of the shares in issue. This is based on the shares in issue figure of 340,752,756 as at 30th November 2023.This is the required notification that the holding has crossed 5% of the shares in issue.

Looks like Joe Duffy Group taking a position.

This is a good summary of MM workings.

https://www.proactiveinvestors.co.uk/companies/news/81/idiots-guide-to-the-london-stock-exchanges-setsmm-0379.html

IMO a good move would be to get rid of the legacy media side of the business and concentrate on tech.

I don't think any potential bidder that's interested in the tech wants to be saddled with a warehouse full of old books, CDs & DVDs.

This could get messy.

Service of Claim

Further to the disclosure in the 2023 Annual Report, on page 100, Hipgnosis Music Limited (in liquidation since March 2018) ("Hipgnosis Music Limited") has served proceedings against Mr Mercuriadis, the Investment Adviser and the Company in the English High Court. In summary, Hipgnosis Music Limited alleges a diversion of business opportunity from Hipgnosis Music Limited (of which Mr Mercuriadis was previously a director) to the Company and the Investment Adviser and also alleges that the Company unlawfully assisted Mr Mercuriadis with, or received, this alleged diversion. Mr Mercuriadis, the Investment Adviser and the Company deny such claims and intend to vigorously defend them. The Company is not insured as to the costs of dealing with this claim.

Nothing in the results persuades me to buy back in.

The quoted spread seem very high recently. I'd have thought with more trading now it would have narrowed.

Any reason for it?

I've sold today, at just over 37p, before results. I've lost out on too many others by holding through pre-results spikes.

I'd only intended this as a quick recovery trade but ended up holding for 6 months. Bought just under 33p hoping for a retrace to c40p. I've also had the dividend so a decent enough trade.

I not ruling out buying back in on any drops.

I could see something in the refurbished tech side of MusicMapgpie, but I really can't see why BT would want to get involved in selling car boot sale tat like used DVDs & old books.

Https://www.hl.co.uk/shares/stock-market-news/company--news/fca-censures-nmc-health-for-understating-debt

This should help.

Price paid for offshore power to rise by 50%

https://www.bbc.co.uk/news/business-67430888

Drop seems overdone, can't see anything that bad in results on a quick look - am I missing something?

..which is the reason I didn't suggest a minimum sell value ....

Not much point trying to sell them if you're not going to allow anyone to buy them.

"there should be a minimum buy value of £100 &/or something done about them .."

A £100 buy a few years ago is only worth a piddling amount today.

Good summary from AJ Bell.

"Russ Mould, investment director at AJ Bell, said: "Just when you thought it couldn't get any worse for Hipgnosis Songs Fund's shareholders, along comes another bit of bad news. The music royalty vehicle was originally pitched as an investment that was uncorrelated with markets, offering the potential for capital growth and a steady stream of generous dividends. It has now failed on both accounts.

"Having backtracked on a recently declared dividend to avoid breaching banking covenants after realising it would get less than expected cash flow from certain royalties, Hipgnosis has now said it will not pay dividends for the rest of its financial year as it needs to set aside cash to pay for bonus payments on certain royalties triggered by meeting specific performance criteria.

"Understandably, investors will be peeved at this news, particularly as it has dragged the share price back close to its all-time low.

"The investment company is in a real mess and big decisions need to be made about its future. The board needs to act fast to determine whether some of the portfolio needs to be sold to raise cash to help pay down debt, new people need to be found to manage the assets or if the business should simply be wound up."

I guess the income funds will be dumping this if they haven't already.

Best hope must be a buyout by someone who can run it better.

Looks like another 2 year wait.

Seems odd that she's now stepping down.